More than 60 Perth suburbs record median price growth in August
15th September, 2021
New reiwa.com data shows 62 Perth suburbs recorded median house sale price growth during August.
The Perth property market is usually quite subdued during winter, so it’s impressive that so many Perth suburbs still recorded median house sale price growth.
Cooloongup was the top performer
Cooloongup recorded the strongest growth during the month, with its median house sale price increasing 4.5 per cent to $320,000 in August.
Stirling came in second for price growth, with its median lifting 3.7 per cent to $810,000 in August, with Maddington claiming third spot for the month, with its median up 2.8 per cent to $345,000.
Forrestfield and Quinns Rock rounded out the top five, both recording 2.2 per cent growth to their medians at $440,000 and $545,000 respectively.
Medina (up 2.1 per cent to $270,000), Booragoon (up two per cent to $850,000), Spearwood (up two per cent to $490,550), Ocean Reef (two per cent to $790,000) and Beckenham (up two per cent to $399,000) completed the top 10 for August.
Despite the cold winter months resulting in fewer overall sales, there were still plenty of Perth suburbs that recorded increases in activity.
reiwa.com data shows that Cooloongup was again the top performer for August, with sales in the suburb increasing 44 per cent compared to July.
Wandi, Merriwa, South Lake, Medina, Bedford, Balga, Morley, Duncraig and Camillo also recorded notable increases in sales, completing the top 10 suburbs for sales activity growth in August.
Competition amongst buyers remained high in August, with reiwa.com data showing it took a median of 18 days to sell a home – 16 days faster than August 2020.
The fastest selling Perth suburbs in August were Heathridge, Kinross and Willetton, all of which took a median of just seven days to sell a property last month. This was followed by Bedford and Coolbellup with a median of nine days, Padbury and North Perth with a median of 10 days, Scarborough and Tapping with a median of 11 days and Carramar with a median of 12 days.
With winter over and done with for another year, it will be interesting to observe how the Perth property market performs as we move into the traditional spring selling season.
Sourced from REIWA