All price sectors joining in on Perth market recovery

CoreLogic has released its latest Perth home value index which shows that in the 12 months to September 2021 Perth house prices grew 18.1 per cent.

This is welcome news for Perth owners and sellers who are eager to see property values recover from the recent market downturn.

Recovery is widespread

The CoreLogic findings are supported by the reiwa.com suburb-level data, which shows the market recovery is widespread and occurring across all price points.

Of the 50 top performing suburbs for median house sale price growth during the year to September 2021, reiwa.com data shows 21 suburbs were priced in the lower end of the market, 16 were in the middle, and 13 were from the $1 million and above price bracket.

Additional analysis found three Perth suburbs had growth rates exceeding 30 per cent, whilst 11 recorded median house sale price growth above 20 per cent.

Bicton was the top performing suburb

Bicton recorded the strongest price growth of any Perth suburb during the year to September 2021, with its median increasing 35.7 per cent to $1.25 million. This was followed by Ascot and Claremont, which saw their median house sale prices increase by 30.7 per cent to $824,000 and 30.6 per cent to $1.8 million, respectively.

Other suburbs to rank well for price growth during the year to September 2021 were Salter Point (up 29.4 per cent), Cottesloe (up 25.4 per cent), Medina (up 24.9 per cent), City Beach (up 24.1 per cent), Wannanup (up 23.2 per cent), North Beach (up 23.2 per cent) and Stratton (up 23.1 per cent).

More information

With the spring selling season now underway, Perth buyers are emerging from the winter slowdown ready to buy.

If you have been thinking about selling, have a chat with a local REIWA agent about how your local area is performing.