Perth Real Estate: Top 10 Suburbs for Selling Growth
The property price boom in Perth may be showing signs of abating, but sales growth in some suburbs remains searing.
The Real Estate Institute of WA has released its list of the top 10 fastest growing suburbs in the year through September 2021, and it looks like buyer interest isn’t limited to high-end properties in the western suburbs.
Buyers are investing in the city’s suburbs in new and established areas, on everything from low-budget shopping to luxury mansions.
Perth’s Top 10 Suburbs for Sales Growth
1. Pepper mint
Peppermint Grove recorded the largest increase in sales activity in the 12 months ending September 2021, with sales surging 183%. During this time, there have been 34 sales. The affluent suburb saw a 19.3% drop in its median selling price, which now stands at $ 2.897 million. Peppermint Grove is one of the most expensive places in Perth to buy, with some of Perth’s largest mansions and exclusive properties.
Jandakot saw stronger sales activity than the same period last year, with 68 home sales during that period, an increase of 127 percent. Jandakot is a southern suburb of Perth located in the town of Cockburn, a rapidly developing residential area. Jandakot saw a 9.1% growth in its median selling price, which stands at $ 656,500 for the 12 months ending in September.
Woodbridge has experienced strong growth in sales volumes and the median selling price of its homes. Sales increased 125 percent, with 36 sales reported in the 12 months leading up to September. The median home selling price also rose 26.5 percent to $ 607,000. Woodbridge is a small suburb close to the Midland CBD. Within its boundaries there are two schools, Woodbridge Elementary School and Governor Stirling High School, as well as a local shopping center which takes care of immediate amenities and shopping.
Eglinton is a developing suburb north of Perth, which has seen sales growth of 106%. During this time, 72 homes have been sold. Its median selling price also rose 16.9% to $ 432,500, making it an affordable option for first-time home buyers. The suburb is dominated by new land estates and is expected to increase its housing supply and be self-sufficient with its own hospital, commercial and retail sector. Despite being a 35-minute drive from Perth, residents are drawn to its beautiful beach and family-friendly parks.
Waterford also saw significant growth in its median home selling price and sales volumes in the 12 months ending September 2021. Sales volumes increased 89% with 34 home sales during that year. period, while its median rose 31.9% to $ 1.2 million. Waterford has gained popularity with many recognizing its convenient location (10 kilometers from Perth CBD) and attractive riverside lifestyle. The development of the Cygnia Cove estate over the past few years has seen new homes in the area, while the established side of Waterford offers upscale properties.
There have been 58 homes sold in Koondoola in the 12 months to September 2021 – an 87% increase from the same period last year. Meanwhile, its median also rose 16.3% to $ 349,000. Koondoola is a self-sufficient suburb with an abundance of local schools. Located north of Perth, it is primarily a first-time buyer suburb.
Commercial activity was buoyant at Coodanup during the year, with 111 home sales. This represents an 85 percent increase in sales volumes compared to the same period last year. The median selling price of Coodanup homes rose 9.4 percent to $ 308,000 in the 12 months ending in September. Coodanup is a southern suburb of Perth, close to Mandurah, a popular tourist destination where residents can enjoy the estuary, boat launches, beach and foreshore.
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Bentley recorded an 80 percent increase in sales volumes over the same period last year, with 110 homes sold during that period. Bentley is a well-established suburb with schools, restaurants, a shopping mall, and a large senior housing complex. It is also the home of Curtin University, making it a popular suburb among all demographics. Its location also makes it easy to travel to Fremantle or Perth CBD.
9. West perth
Although there were only 25 home sales in West Perth in the 12 months leading up to September, that was still 79% more sales than the same time last year. West Perth also saw significant price growth during this period, with the figure rising 16.6% to $ 860,000. Steps from Perth’s central business district and iconic Kings Park, West Perth’s many cafes make it a great place to live.
Yanchep completes the top 10 suburbs to experience the largest increase in sales activity in the 12 months to September 2021. Sales volumes there increased by 78%, with 255 home sales, making it made the suburb with the most homes sold on this list. The median home selling price rose 16.2% to $ 430,000. Yanchep is a coastal suburb north of Perth and is a popular tourist destination due to its proximity to Yanchep National Park. Yanchep is undergoing extensive residential development as more people flock to the affordable seaside suburb.