Perth's top selling suburbs for 2019 revealed
Perth’s southern suburbs are leading Perth’s property revival, being among the most sought-after areas for buyers.
New figures from the Real Estate Institute of WA have revealed the most in-demand suburbs for buyers in 2019 - and the outer southern suburbs have prevailed.
Six of Perth’s 10 top selling suburbs were south of the river, with Lakelands, near Mandurah leading the charge.
Last year, 72 properties sold in Lakelands last year, where there was a 36 per cent increase in sales activity - the biggest of any region in the metro area.
Nearby Waikiki recorded 152 property sales, representing a 21 per cent increase while Erskine, also in the outer southern suburbs, was 10th on the list, with 92 properties sold and a 14 per cent increase in sales.
Mundaring, in the Perth hills and blue-chip suburbs Alfred Cove and Swanbourne also featured in the top 10.
Meanwhile, the quickest-selling suburbs were further north.
Wembley was top of the list with an average selling time of 39 days - 45 days quicker than Perth’s average selling time of 84 days.
Heathridge was close behind with 41 days, while properties were also snapped up quickly in West Leederville and Carine.
REIWA President Damian Collins said the figures were positive signs in a difficult year for Perth’s housing market.
“Last year, sales activity in Perth decreased five per cent, while 57 suburbs bucked this trend to show an increase in activity, with Lakelands demonstrating a 36 per cent increase,” Mr Collins said.
Mr Collins said seven of the top 10 selling suburbs also recorded an increase in median house price last year.
“Increase in sales turnover and a reduction in selling days is often a leading indicator of future price growth in a suburb” he said.
“While sales activity in the lower-priced end of the Perth market remains soft, activity in the 600,000 plus price range has strengthened, which has created increased demand among trade up buyers who now make up 53 per cent of buyers.”
Top 10 selling suburbs
3. Alfred Cove
6. The Vines
Quickest selling suburbs
3. West Leederville
5. White Gum Valley
9. Shenton Park
10. Mount Claremont