REIWA has unveiled its top 10 most expensive suburbs for property in Perth, with suburbs in and around the 'golden triangle' featuring highly.
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Note: Data has been filtered data for areas recording at least 28 property sales in the 12 months to July 2020, which would explain the absence of Peppermint Grove.
1. DALKEITH
The most expensive suburb in WA for property, Dalkeith has been at the top for the last 12 months to July 2020 with a median sale price of $2.35 million, which represents growth of 4.4%. Some of Perth's finest property and landmark views are in Dalkeith. The lifestyle of a Dalkeith resident is what makes it a desirable family location and can offer investors a great opportunity.
2. COTTESLOE
Cottesloe is home to Cottesloe Beach, which is one of the world's most famous beaches and sits in second place on this list of Perth's most expensive suburbs for property. With a median property price declining 12.8%, it still sits at $1.85 million. The surf, sea and sun lifestyle is what attracts most residents. Beautiful coastal views and prime location to Fremantle and Cottesloe train station allows a straightforward pathway to the city centre. Marine Parade is the main attraction and is where you will find many tourists and locals enjoying Cottesloe Beach, bars and restaurants.
3. NEDLANDS
Nedland's is Perth’s third-most expensive suburb for houses, with a median sale price of $1.75 million. In the 12 months to July 2020, the median sale price increased 7%, highlighting the demand for houses in the suburb. A house in Nedland's takes a median 26 days to sell, this shows property buyer demand and is also 16 days faster than any other Perth suburb. Sir Charles Gardiner Hospital is one of many fine WA medical facilities.
4. CITY BEACH
At $1.64 million, City beach is fourth in the list of WA's most expensive suburbs. City Beach recorded a 3.5 per cent decline to its median sale price in the year to July 2020. City Beach is famous for its coastal front, popular beaches and stunning mansions. During the 12 months to July, sellers in City Beach waited a median of 44 days to sell their house, with 49 houses sold during that time.
5. APPLECROSS
Applecross rounds out the top five most expensive suburbs for real estate in Perth. The median sale price in Applecross is $1.55 million, which represents a slight decrease of 3.1 per cent in the 12 months to July 2020. Some of Perth’s best Swan River and City views as well as some of Perth’s most beautiful houses are in Applecross. For education, it is well covered and has a primary school, high school and is only a 10-minute drive from the Perth CBD and Fremantle in the south. In the 12 months to July, 75 properties sold in Applecross, with sellers waiting a median of 55 days to sell.
6. SWANBOURNE
Neighbouring Cottesloe, Swanbourne is the centre of the prestigious western suburbs. With a median sale price of $1.53 million, Swanbourne is Perth’s sixth-most expensive suburb for houses. This is a 4.1 per cent increase in the 12 months to July 2020, suggesting house values are on the rise. With a low median number of just 25 selling days, Swanbourne is the most popular suburb on this list.
7. FLOREAT
Floreat recorded impressive growth to its median house price in the year to July 2020, increasing 14.9 per cent to $1.5 million. One homeowner notably sold their house for a profit of $70,000 in three months. Floreat has many sporting and recreational facilities, being home to the Australian Athletics Stadium, the headquarters of Rugby WA and Floreat Oval. Floreat also recorded the highest number of sales on this list, with 91 houses sold in the 12 months to July.
8. MOSMAN PARK
Mosman Park is number eight on the list of Perth’s most expensive suburbs. The median sale price in Mosman Park is $1.393 million, having increased 3.9 per cent in the 12 months to July 2020. Some of the most exclusive properties in Perth are in Mosman Park as it offers a luxury lifetsyle, plenty of schools, recreational facilities and amazing views. In the 12 months to July, 76 houses sold, with a median selling days of 41.
9. MT CLAREMONT
A new suburb in the list, Mt. Claremont has a median sale price of $1.305 million. reiwa.com data for the 12 months to July 2020 reveals Mt Claremont to be highly sought after by buyers. The median sale price increased 7.9 per cent and it took a median of just 28 days to sell. Mount Claremont is a beautiful leafy suburb with parks and family friendly areas. Challenge Stadium, Mt Claremont Primary School and John XXIII College are some notable places within Claremont.
10. SOUTH PERTH
Last but not least in the list of Perth’s most expensive suburbs is South Perth. Its median marginally declined by 0.2 per cent in the 12 months to July 2020, taking the figure to $1.25 million. A desirable riverside position and home to Perth Zoo and other picturesque locations to take walks and dine at, South Perth is a popular area for residents and outsiders. In the 12 months to July, 48 houses sold in South Perth.
This article is a summary of 'Reiwa's list of Perth's most expensive suburbs' on PerthNow
