Perth The Top Performing Property Suburb for First Time in 10 years

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New figures released by Landgate reveal that the Perth median house price has grown a remarkable 47.4 per cent in the past year.

New figures released by Landgate reveal that the Perth median house price has grown a remarkable 47.4 per cent in the past year.


The growth means that Perth ranked as Western Australia’s best-performing property suburb for the first time in 10 years, overtaking the price increases of the city’s suburbs and mining-boom areas of the states that have won this accolade in more recent years.


Kris Aird of Designer Homes Perth said “A price increase of this scale is big news, and has been fuelled by the growing popularity of the inner-city. Younger buyers have flocked to the inner-city and its urban lifestyle, which has led to a lot of renovation and rejuvenation activity. Some previously unpopular streets have become ‘cool’, and the improvements in individual properties has reflected across the values of areas as a whole.”


“There is a new generation of home-buyers who are more drawn to the excitement of the urban, cosmopolitan lifestyle of the city more than the large living spaces and gardens their parents preferred.  Home extensions and renovations are a large part of the reason these prices are increasing, as the growing popularity of these neighbourhoods has incentivised developers to invest more time, money and effort into them, and we’re now seeing the effects.”


Perth beat every other Western Australian suburb to top both the metropolitan and state best performing areas based on the change in median house price.  The figures from Landgate, Western Australia’s primary source of land information and geographic data, showed that Perth was the best performing area with 47.4 per cent increase, followed by Nannup at 40.2 per cent and Coolbinia at 28.3 per cent.


Release ID: 68277