- 104 more suburbs recorded price growth during this winter compared to the previous winter
- Suburbs among the top ten vary from Orelia to Swanbourne
- Mixed bag of suburbs in the top ten reflects market growth, said REIWA
Despite winter traditionally being a quiet time for the property market, 233 suburbs in Perth recorded median house sale price growth during winter, according to data from reiwa.com.
Real Estate Institute of Western Australia (REIWA) President, Damian Collins, said given this last winter was one of the wettest on record – which tends to dampen sales activity – it was “impressive” that price growth was recorded during June and August.
When comparing this winter to 2020, data shows that 104 more suburbs recorded price growth during this winter than last.
“The Perth property market has changed quite dramatically since winter 2020, which is reflected in the number of suburbs that saw price growth this year,” said Mr Collins.
“The Perth property market is firmly in a recovery phase and many suburbs are feeling the benefits of this current growth cycle.”
Damin Collins, REIWA President
Brookdale in Perth’s south-east (near Armadale) was the top performer during winter with its median house sale price increasing by 16% to $310,000 between 31 May and 31 August.
The leafy western suburbs of Churchlands and Shenton Park followed recording 12% growth each taking their median house sale prices to $1.5 million and $1.535 million respectively.
Top winter growth suburbs
The rest of the top ten was a mixed bag, featuring Orelia in Perth’s south which has a median of $290,000 to suburbs around Perth’s median such as St James and Wannanup along with other affluent suburbs such as Swanbourne, which recorded 11% price growth during winter, taking its median to $1.725 million.
Mr Collins said the top ten suburbs reinforced the idea that the recovery of the Perth market is widespread.
“It will be interesting to observe how price growth across the Perth region fares over the coming months now that the spring selling season has kicked off.
“Given the current low supply and strong buyer demand, it looks like we will continue to see price growth.”