Property sales better than the ‘boom’ in seven Perth suburbs

Property sales better than the ‘boom’ in seven Perth suburbs

ALKIMOS, Golden Bay and Trigg are among seven Perth suburbs to record higher sales numbers than they did during the 2014 ‘boom’ according to reiwa.com data.

President Hayden Groves said while overall house sales volumes had declined in Perth since 2014 these suburbs had bucked this trend.

“For some of the relatively newer suburbs on this list, population growth has played a role in their sales volumes improving,” he said.

“However, interestingly, the majority of the suburbs on the list are well-established, affluent suburbs like Trigg, Salter Point, Leederville and Ardross.

“These suburbs haven’t seen substantial increases in population growth, yet have defied market conditions to maintain sales levels that are on par or notably higher than the levels they recorded during the boom, which is impressive.”

Reiwa.com data showed that as well as seeing an improvement in sales volumes, Trigg’s median house price increased, lifting 6.5 per cent from $1.08 million to $1.15 million between 2014 and 2018.

“The median house price in Salter Point and Leederville also held up well during this time, remaining more or less unchanged as sales activity in their respective areas increased,” Mr Groves said.

“While sales volumes in the seven suburbs are fairly modest, it’s a testament to these smaller markets that they have weathered the challenging conditions of the last few years so well.”

“With key market indicators signalling the Perth market has turned a corner, it will be interesting to see if this list grows over the next 12 months.”