29 Perth suburbs have delivered 10% price growth for 2022
There are still four months of 2022 still to go, and Perth is already reporting huge profit potential for investors across 29 city suburbs.
The latest update from the Real Estate Institute of Western Australia (REIWA) has revealed the capital gains on offer across the state capital, contradicting the pressures that have come into play following four consecutive rate hikes by the Reserve Bank of Australia.
Mount Hawthorn has led the charge, posting price increases averaging out at 16.3 per cent — and lifting its median price to $1.27 million.
North Perth isn’t too far behind, posting growth of 15.8 per cent.
Warwick (14.8 per cent), Carine (14.3 per cent) and Iluka (14.1 per cent) round out the top five.
These capital gains far outstrip the overall city market, which has still managed to record a 4.2 per cent lift in prices from January to August 2022.
A further 105 suburbs have outstripped the citywide average — posting average capital growth of between 5 and 10 per cent.
Even so, the West Australian market has maintained its status as “the best placed in the country to manage the costs of servicing a loan”.
REIWA president Damian Collins considered that “not only do we have the most affordable housing in the country and a strong economy and jobs market, but we also have a housing shortage and growing population”.
“While there may be some fluctuation month to month, all these factors point to Perth’s current growth cycle continuing,” Mr Collins said.
Here are the 29 Perth suburbs basting price growth greater than 10 per cent in 2022:
1. Mount Hawthorn
$1.27 million (16.3 per cent)
2. North Perth
$1.15 million (15.8 per cent)
3. Warwick
$680,000 (14.8 per cent)
4. Carine
$1.02 million (14.3 per cent)
5. Iluka
$1.03 million (14.1 per cent)
6. East Fremantle
$1.48 million (13.5 per cent)
7. Mullaloo
$940,000 (13.2 per cent)
8. Attadale
$1.54 million (13 per cent)
9. Subiaco
$1.63 million (13 per cent)
10. Madora Bay
$610,000 (13 per cent)
11. Sinagra
$525,000 (13 per cent)
12. Waikiki
$423,000 (12.3 per cent)
13. Mount Claremont
$1.74 million (12.3 per cent)
14. Karrinyup
$1.07 million (11.9 per cent)
15. Cottesloe
$2.85 million (11.8 per cent)
16. Two Rocks
$447,000 (11.7 per cent)
17. Padbury
$670,000 (11.7 per cent)
18. West Leederville
$1.42 million (11.6 per cent)
19. Sorrento
$1.28 million (11.6 per cent)
20. Riverton
$736,500 (11.2 per cent)
21. Gwelup
$1.1 million (11.1 per cent)
22. Silver Sands
$525,000 (10.5 per cent)
23. Shoalwater
$530,000 (10.4 per cent)
24. Rivervale
$612,500 (10.4 per cent)
25. Midland
$358,500 (10.3 per cent)
26. Hammond Park
$568,000 (10.3 per cent)
27. Craigie
$548,750 (10.2 per cent)
28. Mount Helena
$595,000 (10.2 per cent)
29. Edgewater
$642,500 (10.1 per cent)
More from this writer:
-
Gen Z and Millennials set to strike property market within 5 years
-
‘Cyber criminals have their sights set on property transactions’ as alarm raised for investors
-
5 Wollongong, Central Coast and Sydney suburbs earmarked for development
-
What are Australia’s best regions for rental yield?
-
Is there already a canary in the coal mine for Australia’s 1.2m homes target?
-
Geelong and Bendigo shine in ‘balanced’ Victorian market
-
Will a university education help you buy a house?