Perth's most prized suburbs
- PerthNow
- January 10, 2010
CANNING Vale was in demand in 2009, with more houses sold in that suburb than any other, but Guildford delivered the biggest median house price rise.
Landgate Valuation Services' figures show Canning Vale was way out in front with 506 houses sold, ahead of Thornlie with 340 and Ellenbrook with 330.
Real Estate Institute of WA president Alan Bourke said the result was to be expected because of the first homebuyer's boost stimulating outer-metropolitan suburbs.
Business migrants Roland and Lina Ting said they decided to rent when they arrived in Australia in 2008 to see what Perth's property market was like.
``Having stayed (in Canning Vale) about a year we decided it was a very good suburb,'' Mr Ting said.
The couple moved their three children, Melissa, 20, Stephanie, 17 and Nicholas, 16, into the property they bought in August last year.
Real Estate Institute of WA president Alan Bourke said the result was to be expected because of the first homebuyer's boost stimulating outer-metropolitan suburbs.
Business migrants Roland and Lina Ting said they decided to rent when they arrived in Australia in 2008 to see what Perth's property market was like.
``Having stayed (in Canning Vale) about a year we decided it was a very good suburb,'' Mr Ting said.
The couple moved their three children, Melissa, 20, Stephanie, 17 and Nicholas, 16, into the property they bought in August last year.
``We looked around a lot of suburbs and found Canning Vale was a newer suburb -- more organised. It didn't have neglected gardens, was very family-friendly and peaceful.''
The best performing suburbs in terms of median price rises last year were Guildford, Mt Richon and
Victoria Park.
From 2008 to 2009, Guildford saw a rise in its median house price of 17.26 per cent, from $565,000 to $662,500. The median in Mt Richon increased 16.86 per cent from $422,500 to $493,750, and Victoria Park's median increased 15.65 per cent, from $575,000 to $665,000.
The suburbs whose median prices were hit the hardest were North Beach, with its median price falling 35.38 per cent ($1.22 million to $790,000), Ascot, which fell by 32.14 per cent ($766,250 to $520,000), and Mt Lawley's median price fell by 28.28 per cent ($1.22 million to $875,000).
Mr Bourke said North Beach was just one example of the many top-end suburbs ``hurt'' during 2009.
``There was more activity in the bottom end of the market so the median moved down (in the top end),'' he said.
``There was also a lot of land released across the road from the Ascot Racecourse, which would have pushed the median price down there.''
Peppermint Grove retained its crown as being Perth's most expensive suburb, with a median house price of $4.2 million, while Medina, near Kwinana, was the least expensive suburb with a median of $230,000.
Most recent REIWA data showed more than 31,500 properties were sold last year.
About 80 per cent were houses and 20 per cent multi-residential, including apartments and units.
Properties in the Fremantle area took the longest to sell with an average of 86 days on the market, while Joondalup, Beldon, Craigie, Duncraig, Greenwood, Hillarys, Kallaroo, Kingsley, Marmion, Mullaloo, Padbury, Sorrento, Warwick and Woodvale, had the quickest turnover with an average of 44 days.
Housing stock also dropped last year from about 16,000 properties available in December 2008 to just over 11,000 last month.
Mr Bourke said the next financial quarter was traditionally WA's busiest for real estate.
``We're marginally under supplied . . . so buyers are really going to have to hunt hard and make decisions quickly to secure the home they want,'' he said.
BEST PERFORMING SUBURBS
Suburb Median Sale Price
2008 -> 2009
1 GUILDFORD $565,000 -> $662,500
2 MOUNT RICHON $422,500 -> $493,750
3 VICTORIA PARK $575,000 -> $665,000
4 DARLINGTON $515,000 -> $590,000
5 ORELIA $297,500 -> $339,000
6 MAYLANDS $670,000 -> $754,000
7 SOUTH FREMANTLE $825,000 -> $925,000
8 STONEVILLE $457,500 -> $511,250
9 FREMANTLE $795,000 -> $880,000
10 JOONDANNA $633,000 -> $697,500
WORST PERFORMING SUBURBS
Suburb Median Sale Price
2008 2009
1 NORTH BEACH $1,222,500 $790,000
2 ASCOT $766,250 $520,000
3 MOUNT LAWLEY $1,220,000 $875,000
4 MOSMAN PARK $1,522,500 $1,150,000
5 FORRESTDALE $520,000 $395,000
6 APPLECROSS $2,075,000 $1,602,500
7 PERTH $875,000 $690,000
8 MARMION $885,000 $698,750
9 KALLAROO $660,000 $545,000
10 SWANBOURNE $1,600,000 $1,322,500
SUBURBS BY VOLUME SOLD
Suburb 2009
Sales
1 CANNING VALE 506
2 THORNLIE 340
3 ELLENBROOK 330
4 CLARKSON 277
5 GOSNELLS 275
6 BALLAJURA 256
7 BALDIVIS 238
8 PORT KENNEDY 235
9 BUTLER 224
10 TAPPING 218
as posted here
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