Stirling Times - - Residential -

WA home­buy­ers are jump­ing at the chance to se­cure fam­ily homes in ar­eas that were pre­vi­ously out of reach, re­sult­ing in sig­nif­i­cant me­dian house price growth last year in Perth’s most de­sir­able sub­urbs.

North Fre­man­tle, Ap­ple­cross and Dalkeith recorded the big­gest rises in me­dian house price of more than 20 per cent and all but three of the top 10 sub­urbs had me­di­ans ex­ceed­ing $1 mil­lion.

“Perth’s highly prized sub­urbs are lead­ing the way in the re­cov­ery of the WA mar­ket,” REIWA pres­i­dent Hay­den Groves said.

“We’ve seen list­ing stock tighten con­sid­er­ably over the past 12 months, with good qual­ity fam­ily homes at­tract­ing a lot of at­ten­tion in as­pi­ra­tional ar­eas.

“With the WA econ­omy gain­ing strength and owner-oc­cu­pier loans at their most af­ford­able in decades, buy­ers recog­nise now is the time to se­cure a fam­ily home in ar­eas pre­vi­ous out of reach for many.”

Lo­cally, Trigg came in sixth on the list with a me­dian of $1.155 mil­lion and 17.6 per cent growth, while North Beach sneaked into tenth place with a me­dian house price of $1.0175 mil­lion.

Davey Real Es­tate North Beach part­ner Phil Pope said soft­en­ing of val­ues in the area over the past four years had re­sulted in great op­por­tu­ni­ties in the re­gion.

“I have seen a large num­ber of buy­ers com­ing from Kar­rinyup, Dun­craig and Carine and mov­ing to the west­ern side of Marmion Av­enue for rea­son­able value,” he said.

“Other ob­vi­ous at­trac­tions too are the amaz­ing schools, both pub­lic and pri­vate, our gor­geous coast­line and ev­ery­thing it has to of­fer the healthy life­style en­thu­si­asts.

“Stud­ies have shown that peo­ple who live on the coast are gen­er­ally health­ier than those who live in­land, and the lo­cal com­mu­nity is sim­i­lar to that of a smaller coun­try town where there is that won­der­ful com­mu­nity spirit.”

Mr Pope said there was a soft­en­ing of house prices since 2013 un­til about 12 months ago, when the mar­ket seemed to plateau.

“How­ever, since Septem­ber of last year I have cer­tainly been see­ing a marked in­crease in buyer ac­tiv­ity with mul­ti­ple of­fers early in the cam­paigns,” he said.

“We are cer­tainly on the way for­ward with val­ues, which is ex­cit­ing for prop­erty own­ers and sell­ers alike.” anal­y­sis also found nine of the 10 sub­urbs had faster sell­ing times than the Perth metro re­gion.

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