Lathlain tops Perth suburbs for positive annual house price growth

Stock image.
Stock image.

LATHLAIN was the top Perth suburb to have recorded the highest for positive annual house price growth for the year to May 2016, while the median house price is $860,000, up 11 per cent over the past 12 months.

REIWA president Hayden Groves said while the Perth property market had presented its challenges over the last two years, there were numerous suburbs across the metropolitan area that had experienced significant annual median house price growth during this time.

“The bulk of Perth’s house price growth was experienced in the central sub-region, and there were some good performers in the north-west sub-region as well,” he said.

“Pleasingly these high growth suburbs are all in the trade-up sector, rather than first home buyer territory.

“This shows that more home owners are recognising there is plenty of opportunity in the current real estate market to take their next step.”

Swanbourne was second highest with 9.3 per cent growth to its annual median house price and South Fremantle with 7.2 per cent growth.

“Although Perth’s property market has moderated over the last year or two, it’s encouraging for home owners that there are pockets throughout the metro area that have performed well and enjoyed positive price growth in more complex market conditions,” Mr Groves said.

Other suburbs in the top eight were South Fremantle, Como, Applecross, Churchlands, Burns Beach and Landsdale.