18/01/2022 - 13:14

Perth home sale values soar in 2021

18/01/2022 - 13:14

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REIWA data shows home sale values in 10 Perth suburbs grew by more than 28 per cent in 2021.

Perth home sale values soar in 2021
Damian Collins says Perth's property prices are forecast to increase further in 2022.

Perth house prices grew by up to 35 per cent in 2021 as Woodlands, Shenton Park and Hillman displayed the largest increases, Real Estate Institute of Western Australia data shows.

REIWA’s analysis of the areas with the biggest increases in house sale prices last year showed an average 28.5 per cent price growth across the top 10 Perth suburbs.

Woodlands’ median house sale price jumped from $911,250 in 2020 to $1.23 million in 2021 – a 35 per cent uptick.

Shenton Park showed a 32.1 per cent rise in its median house price, from $1.27 million in 2020 to $1.68 million last year.

The southern suburb of Hillman grew by 29.1 per cent, from a median house sale price of $250,000 in 2020 to $322,800 in 2021.

Similarly, houses sold in Darlington lifted in value from $620,000 to $800,000 – a 29 per cent rise.

Half of the suburbs on REIWA’s list had median house sale prices above $1 million.

REIWA president Damian Collins said seven of the areas listed either reached or exceeded their previous highest median sale prices in 2021, with Hillman, Lockridge and Brookdale not reaching previous peaks.

"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,” he said.

CoreLogic data shows Perth house prices increased by 13.1 per cent in 2021 and REIWA is forecasting a further 10 per cent growth this year.

 

 

 

 

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