The Real Estate Institute of Western Australia (REIWA) recently listed the 10 Perth suburbs to keep an eye on in 2018. Of them, North Fremantle, Applecross, and Dalkeith were among the suburbs that recorded significant median house price growth in 2017.
All 10 suburbs had median house prices above $520,000 – the Perth median – and all but three exceeded one million dollars, according to Hayden Groves, president of REIWA.
“Perth’s highly prized suburbs are leading the way in the recovery of the WA market,” he said. “In the space of a year, we’ve seen prices in these locations recover substantially from their low point in late 2016.
“We’ve seen listing stock tighten considerably over the last 12 months, with good quality family homes attracting a lot of attention in aspirational areas.
“With the WA economy gaining strength and owner-occupier loans at their most affordable in decades, buyers recognise now is the time to secure a family home in areas previously out of reach for many.”
REIWA’s analysis also found that nine of the 10 suburbs had faster average selling times than the Perth metropolitan region.
“It takes an average of 67 days to sell a house in Perth, whereas in suburbs like Leederville (32 days) and Trigg (36 days), sellers are securing buyers much faster,” Groves said. “Increased demand in Perth’s luxury market is creating more competition between buyers, resulting in quicker selling times and higher sale prices.”
Overall, the Perth real estate market is beginning to show signs of recovery after a stagnant 2017, with agents reporting a surge in demand for rental properties and increased buyer confidence.
Here are Perth's 10 highest growth suburbs in 2017:
||Median House Price
|1. North Fremantle
|4. Mount Helena
|10. North Beach
|Perth metro region
Housing Affordability Surges In WA
Perth’s Median House Price Remains Stable
With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now
Top Suburbs :
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.
We value your privacy and treat all your information seriously - you can check out