Twenty-nine Perth suburbs have recorded median house sale price growth of more than 10 per cent during the 2022 calendar year to date.
Mount Hawthorn experienced the strongest growth, with its median increasing 16.3 per cent to $1.265 million.
North Perth came in second, with 15.8 per cent growth, followed by Warwick (14.8 per cent growth), Carine (14.3 per cent growth) and Iluka (14.1 per cent growth).
REIWA President Damian Collins said while the overall Perth market had seen prices grow 4.2 per cent between 1 January and 31 July, there were a considerable number of suburbs that had far exceeded that figure.
“These 29 suburbs have experienced substantial price growth in a relatively short period of time, which is very impressive especially when you factor in the four rate rises since May.
“It will be interesting to observe how they perform for the remainder of the year and whether they can sustain the momentum of this growth trajectory, Mr Collins said.
105 Perth suburbs see growth of over five per cent
Further analysis revealed an additional 105 Perth suburbs had seen price growth of five per cent or more during the 2022 calendar year to date.
“REIWA agents on the ground continue to report solid market conditions, and this is reflected in the large number of suburbs that have seen strong price growth in 2022, Mr Collins said.
While interest rate rises will naturally have some impact on our local market, West Australians are the best placed in the country to manage the costs of servicing a loan.
Not only do we have the most affordable housing in the country and a strong economy and jobs market, but we also have a housing shortage and growing population. While there may be some fluctuation month to month, all these factors point to Perths current growth cycle continuing.
The 29 Perth suburbs with more than 10 per cent growth in 2022
| Suburb | Median house sale price | Price growth 2022 to day |
|---|---|---|
| 1. Mount Hawthorn | $1.265 million | 16.3% |
| 2. North Perth | $1.15 million | 15.8% |
| 3. Warwick | $680,000 | 14.8% |
| 4. Carine | $1.02 million | 14.3% |
| 5. Iluka | $1.027 million | 14.1% |
| 6. East Fremantle | $1.475 million | 13.5% |
| 7. Mullaloo | $940,000 | 13.2% |
| 8. Attadale | $1.537 million | 13.0% |
| 9. Subiaco | $1.625 million | 13.0% |
| 10. Madora Bay | $610,000 | 13.0% |
| 11. Sinagra | $525,000 | 13.0% |
| 12. Waikiki | $423,000 | 12.3% |
| 13. Mount Claremont | $1.74 million | 12.3% |
| 14. Karrinyup | $1.065 million | 11.9% |
| 15. Cottesloe | $2.85 million | 11.8% |
| 16. Two Rocks | $447,000 | 11.7% |
| 17. Padbury | $670,000 | 11.7% |
| 18. West Leederville | $1.42 million | 11.6% |
| 19. Sorrento | $1.283 million | 11.6% |
| 20. Riverton | $736,500 | 11.2% |
| 21. Gwelup | $1.1 million | 11.1% |
| 22. Silversands | $525,000 | 10.5% |
| 23. Shoalwater | $530,000 | 10.4% |
| 24. Rivervale | $612,500 | 10.4% |
| 25. Midland | $358,500 | 10.3% |
| 26. Hammond Park | $568,000 | 10.3% |
| 27. Craigie | $548,750 | 10.2% |
| 28. Mount Helena | $595,000 | 10.2% |
| 29. Edgewater | $642,500 | 10.1% |
*Data is for suburbs with 28 or more annual house sales to 31 July 2022.
