Perth’s top 10 suburbs for house price growth
PERTH’S property market is starting to show signs of improvement, and nowhere more so than these 10 suburbs.
Here’s REIWA’s list of Perth’s top 10 suburbs for median house price growth in the 12 months to December 2019, filtered for suburbs with more than 28 properties sold.
Kicking off the top 10 Perth suburbs for median house price growth is the historical and well-known suburb of Fremantle. Busy, energetic and always alive, Fremantle is arguably the second-busiest city sector of Western Australia, so investors will be happy to hear that its median house price increased 3.5 per cent in the year to December 2019. With a median house price of $812,500, Fremantle offers residents relaxed beachside living with a copious selection of things to do and places to go. During the 12 months to December 2019, 74 houses sold in Fremantle.
Hilton recorded a 3.8 per cent rise to its median house price in the year to December 2019 which now sits at $550,000. Hilton is located within the city of Fremantle, approximately 15km south of Perth. Known for its mixture of weatherboard, fibro and brick dwellings, Hilton features a variety of smaller shopping centres, a community garden and two primary schools. During the 12 months to December, 61 houses sold in Hilton.
8. Safety Bay
Situated walking distance from the beach, Safety Bay is a suburb within the locality of Rockingham, 35km south of Perth. Its median house price increased four per cent in the year to December 2019, taking the figure to $395,000. Safety Bay is the most affordable suburb to buy a house in on this list, with 120 house sales sold during that time.
In the year to December 2019, Karrinyup’s median house price increased 5.4 per cent, taking the figure to $816,500. Karrinyup is located 15km north of Perth close to the coast. Karrinyup features plenty of recreational facilities and amenities to service both residents and visitors, making it a popular suburb. During the 12 months to December 2019, 142 houses sold in Karrinyup.
6. South Perth
South Perth is the most expensive suburb on the list, with a median house price of $1.35 million for the year to December 2019 – a 5.5 per cent increase. South Perth is positioned ideally along the river, boasting amazing views of Perth city. South Perth’s desirable lifestyle makes it a hotspot for buyers and investors, with many attractions like Perth Zoo making it a popular suburb. During the 12 months to December 2019, 63 houses sold in South Perth.
Rounding out the top five Perth suburbs for median house price growth is Carlisle. In the 12 months to December 2019, the median house price in Carlisle experience a 6.3 per cent increase taking the figure to $510,000. Located just eight kilometres from Perth CBD, Carlisle features four major parks, a train line, several schools and a TAFE. During the 12 months to December 2019, 83 houses sold in Carlisle.
The median house price in Attadale is $1.1 million, which represents a 6.4 per cent growth in the year to December 2019. Attadale is an affluent riverside suburb approximately nine kilometres south of Perth’s CBD. Scenic and family orientated, Attadale’s prime location makes it extremely convenient for residents and investors alike. During the 12 months to December 2019, 71 houses sold in the area.
In the 12 months to December 2019, the median house price in Munster increased 6.8 per cent to $550,000, making it Perth’s third suburb for price growth. Munster is located just 10 minutes from Cockburn Central Shopping Centre and Cockburn train station and is only a short drive away from Coogee Beach making it an ideal location for prospective buyers and investors. During the 12 months to December 2019, 53 houses sold in Munster.
Mullaloo is a coastal suburb located 25km north of Perth CBD. As Perth’s second suburb for median house price growth, it experienced an 8.5 per cent increase during the 12 months to December 2019 – taking the figure to $700,000. Mullaloo offers residents a suburban relaxed lifestyle along the coast, and features two primary schools, a shopping centre and easy access to public transport – ticking all boxes for investment potential. During the 12 months to December 2019, 86 houses sold in Mullaloo.
1. Wembley Downs
Perth’s top suburb for median house price growth is Wembley Downs. The median house price in Wembley Downs increased 8.6 per cent in the year to December 2019, taking it to $1.1 million. Wembley Downs is located 10km north-west of the Perth CBD and is only a short minute drive from Perth’s coast, making it an ideal investment hotspot. The suburb is home to the aspirational boy’s college Hale School, as well as numerous sporting facilities. During the 12 months to December 2019, there 94 houses sold in Wembley Downs.