Eight Perth suburbs bucking the market downturn
Lathlain, Swanbourne and South Fremantle are among Perth’s top eight suburbs recording the highest annual house price growth in the year to May 2016.
While the Perth property market has experienced a knock-on effect from the mining downturn in recent years, Real Estate Institute of Western Australia (REIWA) president Hayden Groves says there are still suburbs across the metropolitan area that experienced annual median house price growth during this time.
“The bulk of Perth’s house price growth was experienced in the central sub-region, and there were some good performers in the northwest sub-region as well,” he says.
“Pleasingly, these high growth suburbs are all within the trade-up sector, rather than first homebuyer territory. This shows that more home owners are recognising there is plenty of opportunity in the current real estate market to take their next step.
“Reiwa.com data shows Lathlain was the standout performer, with its median house price lifting 11 per cent in the year to May 2016 compared to the year to May 2015, followed by Swanbourne, which had 9.3 per cent growth to its annual median house price and South Fremantle with 7.2 per cent growth.
“Although Perth’s property market has moderated over the last year or two, it’s encouraging for home owners that there are pockets throughout the metro area that have performed well and enjoyed positive price growth in more complex market conditions.”
Perth’s 8 highest growth suburbs
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