WHILE the overall Perth median house price continues to fall, there are some areas seeing prices rise.
These are the 10 suburbs showing the greatest rates of median house price growth.
Kicking off the top 10 suburbs for median house price growth is Swanbourne, part of Perth’s affluent western suburbs and situated only 10km from the Perth CBD along the Fremantle railway. In the year to August 2019, Swanbourne recorded a 5.1 per cent increase to its median house price, which is now $1.47 million. During that time, 44 houses sold in the upper-middle class suburb.
Falcon’s median house price increased substantially in the year to August 2019. Its median house price now sits at $370,000 which is a 5.7 per cent increase and 137 houses sold during that time, making it a popular choice among buyers. Falcon is a coastal southern suburb of Mandurah, 71km from Perth.
Mullaloo saw growth of 5.8 per cent to its median house price in the year to August 2019, taking the figure to $674,500. Mullaloo’s suburban lifestyle appeals to investors looking to buy in a coastal suburb, close to schools, shopping centres and public transport and 82 houses sold during the 12 months to August 2019. Mullaloo is a northern suburb of Perth, situated 25km away from Perth’s city centre.
7. Mount Nasura
The median house price in Mount Nasura increased 5.9 per cent to $431,500 in the year to August 2019. Located 26km south of Perth within the City of Armadale, Mount Nasura offers an affordable investment opportunity with growth potential. During the 12 months to August, 42 houses sold in the suburb.
In the 12 months to August 2019, Carine’s median house price saw growth of 6.2 per cent which takes the figure to $808,000. Located 15km north of Perth, Carine features a number of amenities and is close to public transport, shops and schools. During the 12 months to August 2019, 81 houses sold in the area.
5. Quinns Rocks
Quinns Rocks is a seaside suburb 38km north of Perth CBD. If you are looking for an affordable coastal suburb to buy an investment property in, Quinns Rocks ticks all the boxes. In the year to August 2019, its median house price grew 6.7 per cent to $480,000. Quinns Rocks appears to be popular among buyers, which was evident in the 12 months to August with 121 houses sold.
In the year to August 2019, the median house price in Woodlands increased seven per cent to $950,000. During those 12 months, 59 houses sold, suggesting there is buyer demand in the suburb. Woodlands is located 18km north of Perth and features a Lake Reserve, Event Cinemas and a selection of schools and amenities.
Hillarys proves to be a popular hotspot for buyers, with 128 houses sold during the 12 months to August 2019. The median house price in Hillarys is $832,000 which represents an annual growth of 8.1 per cent. Hillarys presents an attractive lifestyle for residents, with waterfront entertainment, bars, restaurants and nightlife and features the well-known Hillarys Boat Harbour. Hillarys is situated 18km north from Perth CBD close to the Joondalup train line and multiple shopping precincts.
Booragoon is a hotspot for investment, being centrally located south of the river and conveniently in the middle of Fremantle and Perth CBD. If you own a property in Booragoon, its median house price would have risen 8.3 per cent to now $900,000 in the 12 months to August 2019, suggesting activity is healthy in the area. During that time 57 houses were snatched up in Booragoon.
1. South Guildford
South Guildford takes out the number one spot for the suburb to record the highest growth to its median house price. Its median house price increased 8.7 per cent during the 12 months to August 2019, taking the figure to $560,000. Located 18km east of Perth, South Guildford presents a good investment opportunity if you are looking to buy in the middle budget range. Forty-six houses sold in South Guildford during the 12 months to August 2019.