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REIWA President Damian Collins said whilst the overall Perth market had recorded 13 per cent price growth during 2021, there were numerous suburbs that had far exceeded that figure.
Woodlands is Perth’s top performing suburb for price growth in 2021, with its median house sale price having increased 35 per cent to $1.23 million last year.
Shenton Park was second with 32.1 per cent price growth, followed by Hillman with 29.1 per cent price growth.
REIWA President Damian Collins said whilst the overall Perth market had recorded 13 per cent price growth during 2021, there were numerous suburbs that had far exceeded that figure.
“2021 was a big year for the Perth property market overall and an even bigger year for these 10 best-performing suburbs, with each recording 25 per cent or more price growth in just 12 months,” Mr Collins said.
Of the 10 suburbs on the list, five had median house sale prices above $1 million, with three of those tipping over the $1 million mark in 2021.
“Woodlands reached the $1 million price bracket for the very first time this year, whilst Wembley Downs’ median price pushed past $1 million for the first time since 2019 and North Beach’s median price pushed past for the first time since 2017,” Mr Collins said.
“We also saw seven of the 10 suburbs either reach or exceed their previous highest median sale prices, which is very good news for property owners in those areas.”
Hillman, Lockridge and Brookdale were the only suburbs on the list to not yet reach their previous peak prices.
“The lower end of the Perth market was most impacted by the downturn, so it’s not surprising those suburbs are taking a little longer to make up that lost ground,” Mr Collins said.
“It will be interesting to observe the growth trajectory of these suburbs over the next 12 months. REIWA does not anticipate market conditions slowing any time soon, with our Perth outlook forecasting a further 10 per cent price growth in 2022.”
| Suburb | Median house sale price 2020 | Median house sale price 2021 | Growth rate |
|---|---|---|---|
| 1. Woodlands | $911,250 | $1.23 million | 35.0% |
| 2. Shenton Park | $1.27 million | $1.677 million | 32.1% |
| 3. Hillman | $250,000 | $322,800 | 29.1% |
| 4. Darlington | $620,000 | $800,000 | 29.0% |
| 5. Wembley Downs | $975,000 | $1.25 million | 28.2% |
| 6. North Beach | $900,000 | $1.15 million | 27.8% |
| 7. Lockridge | $260,000 | $330,000 | 26.9% |
| 8. Mullaloo | $675,000 | $855,000 | 26.7% |
| 9. Swanbourne | $1.5 million | $1.875 million | 25.0% |
| 10. Brookdale | $252,000 | $315,000 | 25.0% |
*Data is based on Landgate settled sales as at 12 January 2022. This information is copyright © 2022 REIWA, all rights reserved. Please attribute REIWA when using any of the information provided in this document.
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