28/01/2010 - 09:34

Perth's house price tops $500,000

28/01/2010 - 09:34

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The median price of a house in Perth has surged 8.7 per cent over the past year with Churchlands and Guildford some of the fastest growing suburbs in Perth, while the median unit price has hit an all-time high.

Perth's house price tops $500,000

The median price of a house in Perth has surged 8.7 per cent over the past year with Churchlands and Guildford some of the fastest growing suburbs in Perth, while the median unit price has hit an all-time high.

In the Australian Property Monitors quarterly report released today, the median price of a house in Perth grew to $512,178 in the December quarter, a level not seen since March 2008.

Compared to the September quarter, the median house price grew by 3.1 per cent from $497,011, the highest quarterly growth since September 2006.

High growth areas for houses in 2009 were Churchlands which jumped 43.8 per cent, Guildford (30.6 per cent), Attadale (25.4 per cent), Nedlands (25 per cent) and Darlington (23.5 per cent).

Meantime, the median price of a unit in Perth jumped 15.8 per cent over the past year to an all-time high of $385,001.

APM said the annual unit price growth is second only to Darwin which surged 22.8 per cent to $428,448.

Fast growing suburbs for units were East Fremantle, where the median price jumped 37.2 per cent in the past year, followed by Shoalwater (13.3 per cent), Bayswater (12.6 per cent), Como (12.5 per cent) and Mosman Park (10.8 per cent).

APM said although first home buyer demand sustained the market in the early part of 2009, ultimately it was upgraders and investors that drove the "extraordinary" result for the year as activity in the more expensive suburbs benefited from the resilient jobs market.

 

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