Far north sells well

Joondalup Weekender - - News -

ALKI­MOS and Jin­dalee are among sev­eral Perth sub­urbs to record higher sales num­bers than they did dur­ing the 2014 “boom”, ac­cord­ing to reiwa.com data.

There were 89 sales in Alki­mos in the 12 months to Jan­uary 2018, up from 40 in the year to Jan­uary 2014 – an in­crease of 122.5 per cent.

Jin­dalee recorded a smaller 5.9 per cent in­crease, with sales num­bers ris­ing from 34 to 36 over the same pe­riod.

REIWA pres­i­dent Hay­den Groves said while over­all house sales vol­umes had de­clined in Perth since 2014, seven sub­urbs were buck­ing the trend.

“For some of the rel­a­tively newer sub­urbs on this list, pop­u­la­tion growth has played a role in their sales vol­umes im­prov­ing,” he said.

“How­ever, in­ter­est­ingly the ma­jor­ity of the sub­urbs on the list are well-es­tab­lished, af­flu­ent sub­urbs like Trigg, Sal­ter Point, Leed­erville and Ar­dross.

“These sub­urbs haven’t seen sub­stan­tial in­creases in pop­u­la­tion growth yet have de­fied mar­ket con­di­tions to main­tain sales lev­els that are on par or notably higher than the lev­els they recorded dur­ing the boom, which is im­pres­sive.”

Reiwa.com data showed that as well as see­ing an im­prove­ment in sales vol­umes, Trigg’s me­dian house price in­creased, lift­ing 6.5 per cent from $1.08 mil­lion to $1.15 mil­lion be­tween 2014 and 2018.

“The me­dian house price in Sal­ter Point and Leed­erville also held up well dur­ing this time, re­main­ing more or less un­changed ” Mr Groves said.

“While sales vol­umes in the seven sub­urbs are fairly mod­est, it’s a tes­ta­ment to these smaller mar­kets that they have weath­ered the chal­leng­ing con­di­tions of the last few years so well.”

“With key mar­ket indi­ca­tors sig­nalling the Perth mar­ket has turned a cor­ner, it will be in­ter­est­ing to see if this list grows.”

More real es­tate, page 15

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