• Where are Perth's highest growth suburbs?

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    Choosing where and when to buy an investment property in a flat housing market is stressful. But, if you do the research you will discover that there are a number of suburbs which have bucked the trend since the downturn and have experienced high growth in the last five years.

    For investors, buying in a suburb with an idyllic lifestyle and a healthy track record of capital growth is more than desirable, as it generally means these areas are in demand.

    To help you with your investment decision, we have pulled the top five suburbs which recorded the highest growth to its median house and unit price since the real estate down turn in 2014.

    Top five suburbs for house price growth

    1. Trigg

    The coastal suburb of Trigg recorded the highest five year growth in Perth. Since 2014, its median house price increased 34.2 per cent to $1.2 million, while the overall Perth region –declined by 8.2 per cent.

    In the year to April 2019, it took vendors an average of 36 days to sell their house, which is half the time of the Perth region, suggesting buyers are quick to snatch up a house in the area. Trigg is located 15 kilometres north of Perth and is significant for its large sectors of public open space, the most notable being the centrally located Trigg Bushland Reserve and Trigg beach which is a favourite among surfers. 

    2. Cottesloe

    If you bought an investment house in Cottesloe five years ago, its median price would’ve seen some growth.

    reiwa.com data shows that since the downturn, Cottesloe’s median house price increased 17.7 per cent to $2.147 million. Cottesloe presents an excellent investment opportunity thanks to its luxurious lifestyle appeal and beautiful coastal landscape. In the year to April 2019, it took sellers an average of 65 days to find a buyer for their house – six days faster than the Perth region. 

    3. Mount Pleasant

    Situated along the banks of the Canning River, Mount Pleasant is a suburb worth considering if you are looking to invest south of the river.

    In the year to April 2019, its median house price was $1.24 million, which is a five year growth of 17.3 per cent. Sellers are waiting an average of 72 days before locking in a sale which is in line with the Perth average. Mount Pleasant is close to plenty of amenities, including Garden City Shopping Centre, Applecross High School, Canning Bridge Station and is only a short drive to Fremantle or Perth CBD. 

    4. West Leederville 

    Coming in at number four is West Leederville, which saw its median house price increase 15.2 per cent to $1.21 million since 2014.

    With Leederville, Subiaco and Perth city all close by, West Leederville straddles the balance of suburban living in an urban environment to great effect. In the year to April 2019, it was 12 days faster selling your home in West Leederville than the Perth region. 

    5. Shelley

    Rounding out the top five for suburbs with the highest five year growth for houses is Shelley. Shelley is a small suburb, 10 kilometres from Perth located in the City of Canning. In five years, the suburb’s median house price increased 12.9 per cent to $943,000. Vendors selling their house in the year to April 2019 waited an average of 73 days. 

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    Top five suburbs for unit price growth

    1. Crawley

    If you are looking to invest in units in Crawley, buyers will be drawn to the stunning views of the Swan River backed by the Perth City skyline. Crawley has immense lifestyle appeal, features to note include the Matilda Bay Restaurant and Bar, Royal Perth Yacht Club and the University of Western Australia.

    The median unit price in Crawley increased a notable 35.6 per cent to $847,500 in five years, while the overall Perth region fell 13.5 per cent. During the year to April 2019, vendors selling their units in Crawley were waiting an average of 87 days, which matches the overall Perth region. 

    2. Cottesloe

    Cottesloe has ranked second on this list for houses and units, which bodes well for investors in the area and suggest the local housing market is performing well. Since 2014, the median sale price for units in Cottesloe increased 16.1 per cent to $812,500 and in the year to April 2019, sellers had to wait an average of 81 days, which is still faster than the Perth region average.

    3. West Leederville

    West Leederville also gets a mention twice on this list with its property market experiencing growth in its house and unit markets. For units, its median sale price increased 10.4 per cent to $497,500 and the average time it took to sell a unit in the year to April 2019 was just 58 days, 29 days faster than the overall Perth region.

    4. Applecross

    Applecross is an affluent riverside suburb of Perth bound by Canning Highway and Swan River. The charming suburb recorded a five year growth of 9.7 per cent to its median unit price which now sits at $680,000.

    Some major features of Applecross include the South of Perth Yacht Club, the Raffles, Garden City Shopping Centre and Applecross Village which has an abundance of cafes and restaurants. 

    5. Nedlands

    Rounding out the list for suburbs with high five year growth in the unit market is Nedlands. Nedlands forms part of the Perth Western Suburbs and its unit market reflects there is some healthy competition, with vendors in the area waiting an average of 56 days to find a buyer – 31 days faster than the Perth region average. Since 2014, the median sale price for units in Nedlands has risen 3.5 per cent to $672,500.

    If you are thinking about buying or selling an investment property, the above suburbs should give you some indication of which suburbs are boding well for investors. 

    Contact a REIWA agent to begin your investment journey.