IT’S not all doom and gloom out there.
The Perth market as a whole might not be setting the world on fire, but some suburbs are recording strong price growth.
Here are the top 10 best performers when it comes to median house price growth.
10. Mount Pleasant
Mount Pleasant is the most expensive southern suburb to buy in on this list, with a median house price of $1.08 million recorded during the three months to April 2018. This represents an increase of 16 per cent compared to the same time last year. Mount Pleasant is located nine kilometres from the Perth CBD and is close to schools and shopping centres including Garden City.
Located within the city of Melville, Palmyra is the next suburb on the list, recording an annual house price growth rate of 16.1 per cent. There were 26 houses sold in Palmyra during the three months to April, with its median house price sitting at $667,500. Palmyra is close to a variety of schools and amenities with Fremantle’s shops and cafés just a 10 minute drive away.
Characterised by its unique landscape, heritage architecture, cafes, restaurants, stores and markets, Fremantle presents the perfect opportunity for those looking to invest in a culturally thriving suburb. Fremantle’s median house price comes in at $827,500 for the three months to April 2018 which represents a growth of 16.5 per cent when compared to the same time last year.
Situated just six kilometres south of the Perth CBD, Kensington’s prime inner-city location close to a number of urban hubs makes this suburb a great investment opportunity. Kensington had an annual median house price growth of 16.6 per cent. Kensington is a small suburb with scenic landscapes and is close to Curtin University. Kensington’s median house price sits at $880,000 for the three months to April and recorded 11 houses sales during that period.
Medina comes in as the most affordable suburb on the list, with a median house price of $227,500. Medina recorded an annual growth of 16.7 per cent in the three months to April 2018. Close to Kwinana train station, several schools and shopping hubs, Medina presents opportunities for buyers and investors who are looking to secure a property in the lower end of the market.
5. Helena Valley
Located 17 kilometres from Perth in the Shire of Mundaring, Helena Valley recorded an annual increase to its median house price of 17.5 per cent in the three months to April 2018 compared to the same time last year. Its median house price currently sits at $608,000 with nine houses sold during the three months to April. Helena Valley offers buyers a peaceful lifestyle, and the opportunity for further growth with new homes and dwellings added to the area in recent years.
With an annual house price growth rate of 22.8 per cent, Winthrop presents an excellent opportunity for investors looking to buy closer to Fremantle. Located 11 kilometres from Perth CBD and 10 kilometres from Fremantle, Winthrop’s median house price sits at $1.05 million for the three months to April 2018. With its close proximity to schools, train stations and shopping centres, Winthrop recorded 21 house sales during the three months to April 2018.
The third suburb on the list for median house price growth is Claremont. Claremont saw its median house price increase 25.6 per cent to $1.57 million in the three months to April 2018. It also recorded the most houses sold with 33 recorded sales during the three months to April 2018. Part of Perth’s exclusive ’Western Suburbs’, Claremont presents attractive housing opportunities for investors and families choosing to settle down.
The coastal suburb of Trigg recorded a 34.5 per cent growth in median house price for the year to April 2018. Trigg’s median house price sits at $1.55 million, making it the second most expensive suburb to buy in on the list. There were 13 houses sold in Trigg in the three months to April of this year. Located 14 kilometres northwest of Perth in the City of Stirling, Trigg’s property landscape is characterised by a diverse range of home styles, though largely dominated by single detached dwellings on individual lots.
Topping the list of Perth suburbs for median house price growth is Kallaroo. Kallaroo’s median house price comes in at $872,775 for the three months to April 2018, a recorded growth of 44 per cent compared to the same time last year. The northern coastal suburb offers big blocks, close to all amenities making it a desirable beach suburb for investors and owner-occupiers alike. Kallaroo recorded 18 house sales in the three months to April.