Perth’s market recovery fuelled by all price sectors

The revised figures from CoreLogic align with suburb-level data from the Real Estate Institute of Western Australia (REIWA), which reveals that Perth’s market recovery is fuelled by all price sectors.

According to REIWA data, 21 of the top 50 suburbs for median house sale price growth in the year to September 2021 were priced in the lower end of the market, 16 in the middle, and 13 in the $1 million and above price category.

Moreover, three Perth suburbs experienced median house price growth rates of more than 30 per cent, with 11 areas going up by more than 20 per cent.

Among these areas, Bicton had the highest median price increase, up 35.7 per cent to $1.25 million.

Ascot came in second with typical property sale prices rising by 30.7 per cent to $824,000, and then Claremont at third spot, up by 30.6 per cent to $1.8 million.

Also worth noting for strong price growth are 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 23.2 per cent).