• WA’s ‘best of the best’ for property in 2021 revealed

    New

    Author: REIWA President Damian Collins

    photo_cottesloe_beach_aerial

    2021 was a big year for the Western Australian property market, with demand for property strong as prices increased, sales volumes grew and days on market shrunk.  

    CoreLogic released its 'Best of the Best 2021’ national housing report last month which looks at the best performers (across a range of factors, such as top sale, highest and lowest median values and highest total sales) throughout the year to November for each state. 

    Most expensive and most affordable suburbs

    The results for WA showed that Dalkeith had the highest median house value during 2021 at $2.822 million, whilst North Fremantle had the highest median unit value at $771,064. 

    The most affordable place to buy a house in WA was in Kambalda East, with its median house value sitting at $90,155, while the most affordable place to buy a unit was in Orelia (despite its strong growth) at $176,480.  

    The five suburbs with the highest median house value during 2021 were Dalkeith ($2.822 million), Peppermint Grove ($2.699 million), Cottesloe ($2.406 million), City Beach ($2.242 million) and Swanbourne ($1.893 million).  

    Top sales performers

    CoreLogic also looked at the most recent sales data for the 12 months to September 2021 and found that the most expensive property sold in WA was in Peppermint Grove, fetching a sale price of $15.7 million. The next most expensive property sold was for $13.3 million in Swanbourne. Both sales occurred during August 2021.  

    During the year to September 2021, Baldivis recorded 899 house sales with a median value of $451,074, netting a total sales value of $392 million. Cottesloe ranked second, recording 146 house sales with a median value of $2.406 million, netting a total sales value of $388 million.  

    Other suburbs to rank highly for total combined sales values were Nedlands ($382 million), Mosman Park ($357 million) and Halls Head ($337 million).  

    The regional suburb to net the highest value of sales was Dunsborough, recording 267 house sales with a median value of $861,671, to net a total sales value of $226 million.  

    As we move through 2022, we anticipate another strong year of sales and price growth in WA.  

    Note: CoreLogic’s median value is a measure of the median (50th percentile) estimated value of all properties based on their hedonic imputation method, irrespective of whether it transacted or not. 

    More information

    For more local information and data, visit the reiwa.com suburb profiles