Perth’s property prices continued to decline last month, but a number of suburbs demonstrated considerable growth.
The latest home value index showed Perth declining by 0.7% in June, but suburbs had strong demands, according to Real Estate Institute of Western Australia (REIWA) President Damian Collins.
“With the onset of winter, it is not unexpected to see a decrease in house sales activity for June, but our analysis shows that Ballajura, Willetton and Bayswater were the three best-performing suburbs, with each recording an increase of over 55% in the number of dwellings sold in June compared with May,” Collins said.
Canning Vale, Mount Pleasant, Piara Waters, City Beach, and Bassendean also experienced a 20% growth, while Heathridge and Safety Bay surged by 15%.
Eight of the 10 best performing suburbs in June had median prices below $650,000, with Mount Pleasant and City Beach the only million-dollar suburbs.
“We also saw positive signs for multiple suburbs in term of days on the market, with Kingsley, Hilton, Heathridge, Woodvale, and Palmyra selling on average after 44 days on the market, compared to 79 days for greater Perth,” Collins said.
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