This article is from the Australian Property Journal archive
NORTH-eastern growth corridor suburb Dayton was Perth’s top for sales growth during the 2022 financial year, with sale up a whopping 141.3% annually according to REIWA.
North Fremantle came in second, with sales up 125.9%, followed by Orelia with a 121.1%.
Overall sales were up 19.8% across Perth during the 12-month period
“It’s been a solid year of sales for the Perth market, with a shortage of housing fuelling competition amongst buyers and resulting in strong sales turnover,” said REIWA president Damian Collins said.
While a number of cities are seeing house prices fall, Perth saw its seventh consecutive month of growth in June for a 4% rise over calendar 2022 to date, and tracking well for REIWA’s forecast of 10% growth for the calendar year.
All 10 suburbs on the REIWA list for recorded more than 80% growth in sales volumes, while six saw growth of more than 100%, including Armadale, Leda and Mount Helena.
Rounding out the top 10 were Parmelia, Alkimos, Camillo and Southern River.
Seven of the 10 suburbs on the list had median house sale prices below $500,000, with five of those below $400,000.
“It’s pleasing to see such strong sales growth in the affordable end of the market. Increased activity in this price bracket suggests first home buyers are very active,” Collins said.
“We are lucky in Western Australia that our housing market is still so affordable and that even as interest rates rise the dream of home ownership is still achievable for most people.”
Top performer Dayton’s median sale price is $447,500, while top five counterparts Orelia ($315,000), Armadale ($289,000) and Leda ($350,000) were all at the more affordable end of the scale. Second-placed North Fremantle was the outlier, with a median house price of $1.271 million. The next-highest median was Southern River’s $599,000.
