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  • Eight Perth suburbs to watch in 2016

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    Eight Perth suburbs to watch in 2016 - reiwa.comreiwa.com’s latest analysis of house sales volumes for the year to October 2015 has seen the emergence of eight suburbs to watch in 2016.

    REIWA Deputy President Damian Collins said the analysis showed that first home buyers and home owners looking to trade-up were still big influencers in the Perth property market.

    “The eight Perth suburbs which showed the most growth in sales volumes for the year to October 2015 were quite evenly split between the first home buyer and trade-up market.

    “This tells us that first home buyers are taking advantage of Perth’s adjusting housing market to secure their first house, while home owners looking to trade-up are seeing great opportunity in the current market to take their next step in property ownership,” Mr Collins said.

    For the most part, the annual change in the annual median house price for the eight suburbs on the list was stable, though some did experience mild decreases over the year.

    “However, when we look at the annual average growth rate over a five year period for these suburbs, all but two suburbs – which were both less than five years old, experienced positive growth in the five years to October 2015,” Mr Collins said.

    1. Brabham

    Brabham, in Perth’s north east, had the highest growth in annual house sales, lifting 73.1 per cent in the year to October 2015.

    “With a rolling annual median price of $465,000, Brabham is a clear example of a Perth suburb that is beginning to attract the attention of first home buyers looking to be near the northern coastal corridor,” Mr Collins said.

    2. Trigg

    House sales volumes in Trigg increased 41.2 per cent in the year to October 2015, with its rolling annual median house price sitting at $1,042,500.

    “Trigg is the only suburb on the list that is part of Perth’s higher end market with an annual median house price over the one million dollar mark. This suburb is appealing to the trade-up market who understand that now is a great opportunity to buy into the desirable coastal lifestyle Trigg offers,” Mr Collins said.

    3. Mount Richon

    Mount Richon had the third highest change in annual house sales growth for the year to October 2015.

    “The south-east suburb experienced 36.8 per cent growth in house sales over the year, and its rolling annual median house price of $478,500. Mount Richon is close to Armadale’s CBD yet offers buyers a leafier alternate to coastal plain developments further west,” Mr Collins said.

    4. Alkimos

    The beach side suburb of Alkimos ranked fourth for annual average change in house sales volumes, lifting 20 per cent in the year to October 2015.

    “Alkimos holds great appeal for first home buyers given it is a stone’s throw away from the beach and has an annual median house price of $488,500,” Mr Collins said.

    5. Caversham

    Caversham rounded out the top five for annual growth in sales volumes, with house sales figures in the area increasing 19.6 per cent in the year to October 2015.

    “Caversham continues its popularity being so close to the upper reaches of the Swan and our superb wineries and it’s also the last typically first home buyer area to make the list with an annual median house price of just over $500,000,” Mr Collins said.

    6. Bedford

    Bedford comes in at number six with a 16.3 per cent increase to its annual average house sales figure for the year to October 2015.

    “Bedford had a rolling annual median house price of $640,000 for the year to October 2015, which appeals to home owners wanting to trade-up, particularly given its proximity to the CBD,” Mr Collins said.

    7. Willagee

    Willagee, in Perth’s south, came in at number seven with house sales in the area increasing 15.8 per cent in the year to October 2015.

    “With an annual median house price of $600,000 for the year to October 2015, Willagee is a suburb that has undergone extraordinary change over the past decade. Its proximity to Fremantle and gentrified newer homes has improved its popularity amongst home buyers,” Mr Collins said.

    8. Bayswater

    With 15.5 per cent growth in house sales volumes for the year to October 2015, Bayswater is the final suburb on the list.

    “On the railway line and with the Swan River running through it, Bayswater offers an affordable option for many with an annual average median house price of $640,000 for the year to October 2015,” Mr Collins said.