Three Wanneroo suburbs record big increase in sales

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First home buyers are very active with the biggest surge in sales at the more affordable end of the market, according to REIWA. File picture

THREE City of Wanneroo suburbs are among 10 Perth suburbs with the biggest percentage increase in sales activity during the 2020-21 financial year.

REIWA president Damian Collins said sales activity across Greater Perth was up 29 per cent overall in the past 12 months but some suburbs had greatly exceeded that figure during that same time frame.

According to reiwa.com data in Ridgewood, which topped the list, there was a 122 per cent increase in sales compared with the 2019-20 financial year.

Third-placed Two Rocks had an increase in sales of 115 per cent and ninth-placed Sinagra had an increase of 89 per cent.

Mr Collins said of the 10 suburbs to make the list, seven had median house prices below the overall Perth median, while only one, Trigg, had a median house price above $1 million dollars.

The median house price was $397,500 in Ridgewood, $400,000 in Two Rocks and $460,000 in Sinagra.

During the 2020-21 financial year there were 82 sales in Ridgewood, 73 in Two Rocks and 68 in Sinagra.

During the 2020-21 financial year there were 82 sales in Ridgewood, 73 in Two Rocks and 68 in Sinagra, according to reiwa.com data.

He said the dominance of the more affordable suburbs on the list suggested there had been particularly strong appetite from WA first home buyers who recognised it was a great time to take advantage of Perth’s affordable housing before prices inevitably rose further as the market continued its recovery.

“First home buyers are very active in Western Australia, which is why the biggest surge in movement is being felt at the more affordable end of the market,’’ he said.

“We’re lucky in WA that the dream of home ownership is still achievable for a lot of people, who are clearly taking advantage of the relatively affordable prices to secure their first home.
“There is good news for sellers too, with every single suburb on this list having recorded median house sale price growth over the last 12 months.’’

The median house sale price in Ridgewood increased by 4.6 per cent last financial year.

In Two Rocks during the same period the median house sale price increased by 12.7 per cent while in Sinagra it rose by 5.1 per cent.

On July 21 according to reiwa.com data there were 76 properties and houses for sale in Two Rocks, with 26 properties and houses for sale in Ridgewood and 27 for sale in Sinagra.