Prices on way up

Cockburn Gazette - - RESIDENTIAL -

PARTS of the Perth prop­erty mar­ket are show­ing strong signs of re­cov­ery, with REIWA list­ing 12 sub­urbs that recorded house price growth in the past 12 months af­ter ex­pe­ri­enc­ing de­clines in the pre­vi­ous year.

Eight sub­urbs recorded me­dian price growth over 10 per cent.

REIWA pres­i­dent Hay­den Groves it was pleas­ing house prices in 12 sub­urbs across Perth had re­cov­ered so well in just 12 months.

“All the sub­urbs on the list have higher me­dian house price val­ues now than they did in 2016 just prior to the de­cline, which is pos­i­tive news for sell­ers in these ar­eas,” he said.

“North Fre­man­tle had the strong­est re­bound in price, with its me­dian in­creas­ing 28.1 per cent to $1.23 mil­lion in 2018, af­ter de­clin­ing 0.8 per cent to $960,000 in 2017. Bic­ton came in sec­ond, with a 17.6 per cent me­dian house price in­crease this year af­ter de­clin­ing 6.5 per cent last year, while Ned­lands, Kal­la­roo and West Leed­erville saw house prices lift by 15.5 per cent, 14.6 per cent and 13.4 per cent re­spec­tively in the 12 months to June 2018.”

Helena Val­ley, City Beach, Clare­mont, Mos­man Park, Winthrop, White Gum Val­ley and Leem­ing rounded out the 12.

Reiwa.com anal­y­sis showed all sub­urbs on the list had a me­dian house price above the Perth metro me­dian of $515,000 and seven of those sub­urbs had me­dian house prices above $1 mil­lion.

“Perth’s as­pi­ra­tional sub­urbs are re­ally lead­ing the way in the re­cov­ery,” Mr Groves said.

“Last quar­ter there were more houses sales recorded in the $800,000and-above price range, which is a trend that also oc­curred dur­ing the De­cem­ber 2017 quar­ter.

“In ad­di­tion, re­cent reiwa.com data also shows 11 per cent of houses sales in Perth now sell above $1 mil­lion, which is the high­est pro­por­tion of mil­lion dol­lar sales Perth has seen.” THIS stylish new villa of­fers a per­fect op­por­tu­nity for first-home buy­ers, down­siz­ers or in­vestors.

The cen­tral open-plan

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