10 Perth suburbs poised for price growth in 2022

Here are the top 10 PerthPerth, TAS Perth, WA suburbs to watch, according to the Real Estate Institute of Western Australia (REIWA: East Cannington (7.7%), Mount Helena (6.9%), Seville Grove (6.8%), Alkimos (6.2%), Kelmscott (6.1%), Bentley (5.9 %), Madeley (5.2%), Ashby (4.1%), Wellard (4%), Mount Nasura (0.6%).

These locations have been identified by REIWA based on their rate of price growth in 2021, which has seen them perform well lower than Perth’s overall market rate of 13.1%.

However, what sets these suburbs apart is their reported sales volume, which has seen an increase of at least 50%.

Damian Collins, President of REIWA, explained why this is so: “It is often the suburbs with high sales volumes and lagging prices that offer the greatest potential for growth. They tend to have more ground to make up for, especially if the suburbs are in high demand among buyers.

While acknowledging that there is no such thing as a real estate market crystal ball, Mr Collins explained that by analyzing the sales data of the 10 suburbs in 2021, it can help REIWA “predict where the next areas will be in booming”.

Additionally, eight of these suburbs have median home prices below $500,000, which Collins said indicates that “demand is largely being driven by first-time home buyers who have taken advantage of affordable housing prices. Perth to secure a place on the property ladder”. in these accessible suburbs”.

Another indicator of price growth, in addition to high selling volumes, is median selling time, Collins added.

Four suburbs on REIWA’s list reported fewer than Perth’s median days in the 14-day market: Kelmscott (nine days), Seville Grove (12 days), Madeley (12 days) and Mount Nasura (13 days).

Overall, Mr Collins predicts a further 10 per cent rise in prices across all Perth suburbs in 2022, indicating potential price growth beyond this for named suburb.

“They’re clearly in high demand from buyers and they have a lot of room to catch up in terms of price growth,” Collins said.

10 Perth suburbs with high price growth potential

SUBURB

MEDIAN HOME SELLING PRICE

2021 MEDIAN HOME SALE PRICE GROWTH

2021 SALES VOLUME GROWTH

1. Mount Nasura

$475,000

0.6%

50%

2. Wellard

$415,000

4.0%

80%

3. Ashby

$484,000

4.1%

50%

4. Magdalen

$610,000

5.2%

75%

5.Bentley

$455,250

5.9%

65%

6. Kelmscott

$350,000

6.1%

53%

7. Alkimos

$430,000

6.2%

78%

8. Seville Grove

$355,000

6.8%

89%

9. Mount Helena

$540,000

6.9%

67%

10. Cannington East

$452,500

7.7%

62%

10 Perth suburbs poised for price growth in 2022



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Last update: February 09, 2022

Posted: February 10, 2022