10 Perth suburbs record 25%-plus median price growth

• Salter Point is back in the million-plus club with a median of $1.35M
• The top ten suburbs were mixed, ranging from Claremont to Armadale
• Five of the ten are either riverside or oceanside suburbs

Ten Perth suburbs have recorded at least a 25% increase in their median house sale price over the 2020-21 financial year, according to data released by reiwa.com.

Salter Point, an affluent southern suburb nestled along the Manning River about 11 kilometres from the Perth CBD, recorded a 44.7% increase in its median house sale price, bringing it back in the million-plus club at $1.35 million.

It’s a small suburb, with an area of just 1.6 square kilometres and a population of 2,847 based on the 2016 census.

The 25 per centers

The ten suburbs were mixed, ranging from other million-plus suburbs such as Sorrento and Bicton to suburbs with median prices well below Perth’s median such as Stratton, Armadale and Medina.

The suburb closest to Perth’s median price was Wannanup, located 12 kilometres south of Mandurah along the coast, which recorded a 29.1% increase to $565,000.

Five of the ten suburbs are either located along a river or ocean.

“It is reassuring to see that since we hit the bottom of the market in July 2020, the Perth property market recovery has been widespread,” said REIWA President, Damian Collins.

“This is reflected in this top 10 list, with positive median sale price growth seen in suburbs from all different price spectrums of the market.”

Source: reiwa.com

“In addition, it is also encouraging to see how dispersed these top 10 suburbs are across Perth, ranging from as far south as Wannanup, as far north as Sorrento, over to Ascot in the east and Claremont from Perth’s affluent western suburbs,” concluded Mr Collins.