INDUSTRY NEWSNEWSWA

Perth’s top 10 suburbs for price growth revealed

The Real Estate Institute of Western Australia (REIWA) has revealed the top 10 Perth suburbs with the greatest price growth in 2021, with Woodlands leading the charge.

REIWA explained the northern suburb took out poll position after prices increased 35 per cent, to $1.23 million, last year.

Shenton Park was second with 32.1 per cent price growth, followed by Hillman with 29.1 per cent price growth.

REIWA President Damian Collins said while the overall Perth market had recorded 13 per cent price growth during 2021, there were numerous suburbs that had far exceeded that figure.

“Last year was a big year for the Perth property market overall and an even bigger year for these 10 best-performing suburbs, with each recording 25 per cent or more price growth in just 12 months,” Mr Collins said.

Of the 10 suburbs on the list, five had median house sale prices above $1 million.

“Woodlands reached the $1 million price bracket for the very first time this year, whilst Wembley Downs’ median price pushed past $1 million for the first time since 2019 and North Beach’s median price pushed past for the first time since 2017,” Mr Collins said.

“We also saw seven of the 10 suburbs either reach or exceed their previous highest median sale prices, which is very good news for property owners in those areas.”

Hillman, Lockridge and Brookdale were the only suburbs on the list to not yet reach their previous peak prices.

“The lower end of the Perth market was most impacted by the downturn, so it’s not surprising those suburbs are taking a little longer to make up that lost ground,” Mr Collins said.

“It will be interesting to observe the growth trajectory of these suburbs over the next 12 months.

“REIWA does not anticipate market conditions slowing any time soon, with our Perth outlook forecasting a further 10 per cent price growth in 2022.”

SuburbMedian house sale price 2020Median house sale price 2021Growth rate
1. Woodlands$911,250$1.23 million35.0%
2. Shenton Park$1.27 million$1.677 million32.1%
3. Hillman$250,000$322,80029.1%
4. Darlington$620,000$800,00029.0%
5. Wembley Downs$975,000$1.25 million28.2%
6. North Beach$900,000$1.15 million27.8%
7. Lockridge$260,000$330,00026.9%
8. Mullaloo$675,000$855,00026.7%
9. Swanbourne$1.5 million$1.875 million25.0%
10. Brookdale$252,000$315,00025.0%
Source: REIWA

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