Powered by MOMENTUM MEDIA

20 Perth suburbs that have already surpassed expert predictions

By Fergus Halliday 14 May 2021 | 1 minute read

The REIWA’s earlier forecasts for Perth’s property market are on track to be exceeded, with 20 suburbs recording better-than-expected price growth.

Perth suburbs

The WA-based institute previously forecasted a 15 per cent price rise in the state by the end of 2021. However, they now believe that a 10 per cent growth in property prices has already been achieved across 20 suburbs in the region. 

Nine of the suburbs on the REIWA’s shortlist boast a median house sale price below the PerthPerth, TAS Perth, WA average of $508,000. Eleven suburbs came in above that figure, while eight suburbs landed a median house sale price of greater than $1 million.

According to REIWA president Damian Collins, “The recovery of the market is widespread across Greater Perth. Six to eight months ago, it was mainly the higher end of the market showing strong growth, but now we are seeing movement across the board.”

“From Mandurah to Yanchep, REIWA agents on the ground have been telling us that the property market is strong, and this is reflected in the eclectic mix of suburbs that have made this list.

Advertisement
Advertisement

Bicton has experienced the strongest price growth in the first four months of the year, with its median house price increasing 20 per cent to $1.14 million between 31 December 2020 and 30 April 2021. This was followed by North BeachNorth Beach, SA North Beach, WA (up 17 per cent to $1.05 million), SorrentoSorrento, VIC Sorrento, WA (up 16 per cent to $1.118 million) and Applecross (up 15 per cent to $1.79 million),” Mr Collins said.

“For these suburbs to be only a third of the way through the year and already achieving price growth of this magnitude is quite impressive. It will be interesting to see if they can maintain this momentum as the year progresses.”

Check out the table below for a breakdown of how median house sale prices have grown: 

SUBURB

MEDIAN HOUSE SALE PRICE DEC 2020

MEDIAN HOUSE SALE PRICE APR 2021

PERCENTAGE CHANGE

1. Bicton

$950,000

$1.14 million

20%

2. North Beach 

$900,000 

$1.05 million 

17% 

3. Sorrento 

$960,000 

$1.118 million 

16% 

4. Applecross 

$1.56 million 

$1.79 million 

15% 

5. ClaremontClaremont, TAS Claremont, WA 

$1.503 million 

$1.7 million 

13% 

6. Medina 

$230,000 

$260,000 

13% 

7. Maddington 

$283,500 

$320,000 

13% 

8. Palmyra 

$635,000 

$715,000 

13% 

9. Coodanup 

$292,550 

$329,000 

12% 

10. Attadale 

$1.165 million 

$1.3 million 

12% 

11. Parmelia 

$247,000 

$275,000 

11% 

12. City Beach 

$1.8 million 

$2 million 

11% 

13. Wembley Downs 

$975,000 

$1.08 million 

11% 

14. ComoComo, NSW Como, WA 

$850,000 

$940,000 

11% 

15. DarlingtonDarlington, NSW Darlington, WA Darlington, NSW Darlington, SA 

$620,000 

$685,000 

10% 

16. Orelia 

$240,000 

$265,000 

10% 

17. RedcliffeRedcliffe, WA Redcliffe, QLD 

$399,000 

$440,000 

10% 

18. Bertram 

$335,000 

$369,000 

10% 

19. Brookdale 

$252,000 

$277,500 

10% 

20. Girrawheen 

$300,000 

$330,000 

10% 

About the author

Fergus Halliday

Fergus is a journalist for Momentum Media's nestegg and Smart Property Investment. He likes to write about money, markets, how innovation is changing the financial landscape and how younger consumers can achieve their goals in unpredictable... Read more


20 Perth suburbs that have already surpassed expert predictions
Perth suburbs
spi logo

Get the latest news & updates

Join a community of over 100,000 property investors.

Check this box to receive podcast updates

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.