DESPITE the recent headlines about property prices falling and billions being wiped off the market, some areas are still seeing prices rise.
Reiwa has listed Perth’s top 10 suburbs for house price growth for the 12 months to April 2019 and there have been some significant increases recorded.
Surprisingly, the growth was not confined to Perth’s affluent areas, with suburbs in the hills and coast, close to the city and further afield represented.
Kicking off the top ten Perth suburbs for house price growth is Shelley. Shelley is a small suburb within the City of Canning, 10km from Perth CBD. The median house price in Shelley recorded an annual growth of 9.7 per cent, which leaves the figure at $943,000. Despite being a small suburb, residents of Shelley are serviced by amenities from surrounding neighbourhoods like Waterford and Riverton. There is also a local shopping centre and school within the suburb. 39 houses were sold in Shelley in the 12 months to April 2019.
At number nine on the list is the family-friendly suburb of Beaconsfield. In the year to April 2019, Beaconsfield’s median house price increased 9.9 per cent when compared to the same time last year. Beaconsfield’s location is a hotspot for investors, being just a short drive to Fremantle and South Beach with ample amenities nearby. During the 12 months to April, 67 houses sold in the area.
8. South Yunderup
South Yunderup is a township near Mandurah situated on the south bank of the Murray River. It makes the list for top growth suburbs because its median house price experienced an annual growth of 10.6 per cent, taking the figure to $520,000. In the year to April 2019, 43 houses were sold in the area with buyers being drawn to the suburb’s peaceful scenery and network of canals.
7. Mount Nasura
Following closely behind Peppermint Grove is Mount Nasura with its median house price increasing 11.1 per cent in the year to April 2019. Mount Nasura is 26km south of Perth located within the City of Armadale. If you are looking to invest in the area, its median house price is $433,250 and 40 houses were sold in the 12 months to April.
6. Peppermint Grove
At number six, Peppermint Grove’s median house price experienced an annual growth of 11.6 per cent in the year to April 2019, taking the figure to $3.85 million. Peppermint Grove is part of Perth’s affluent western suburbs and has the highest median house price out of all the suburbs on this list. Investors and buyers are drawn to the area’s attractive lifestyle appeal.Sixteen houses were sold in the year to April 2019.
5. Mount Pleasant
Mount Pleasant comes in at number five, with a median house price of $1.24 million – a 13.2 per cent annual growth. Mount Pleasant proves to be in demand by buyers, with 97 houses sold in the year to April 2019. The riverside suburb offers investors a charming lifestyle close to Perth City and Fremantle.
4. Glen Forrest
In the year to April 2019, Glen Forrest’s median house price increased 15 per cent to $560,000 when compared to the same time last year, with 24 houses sold during that time. Located in the hills, 25km east of Perth, Glen Forrest is bounded by its picturesque forest landscape offering residents their own private sanctuary.
3. Middle Swan
With an annual growth of 15.7 per cent in the year to April 2019, Middle Swan takes out third place for suburbs with high median house price growth. Situated 21km east of Perth, Middle Swan has the most affordable median house price on this list, recorded at $361,000. Located in the Swan Valley, Middle Swan features stunning landscapes and a variety of popular wineries bisected by the Swan River. In the year to April 2019, 18 houses were sold in the area.
At number two on the list is Kensington with a median house price of $896,000 – an annual growth of 18.3 per cent for the year to April 2019. Kensington is a popular suburb among students due to its close proximity to Curtin University. Investors looking to secure a property will be drawn to the suburb’s scenic landscapes and convenient proximity to transport. During the 12 months to April, Kensington recorded 45 houses sales in the area.
Menora is Perth’s top growth suburb for houses, with its median house price increasing 19.1 per cent to $1.25 million in the year to April 2019. Menora is situated six kilometres north of Perth near Mount Lawley and includes features like the exclusive Alexander Park Tennis Club. In the year to April 2019, 17 houses were sold in Menora.