Two Rocks and Sinagra record high price growth

TWO Rocks and Sinagra are two City of Wanneroo suburbs to have recorded a median house sale price growth of more than 10 per cent during the first seven months of 2022.

Real Estate Institute of WA (REIWA) data released todays shows Sinagra has a median house sale price of $525,000 following a 13 per cent increase in 2022 to July 31.

During the same period Two Rocks recorded an 11.7 per cent increase resulting in a median house sale price of $447,000.

The two Wanneroo suburbs were among 29 Perth suburbs to record median house sale price growth of more than 10 per cent so far this year.
Mt 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 January 1 and July 31, there were a considerable number of suburbs exceeding 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,’’ he said.

“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.’’

Another 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.’’

*REIWA data is for suburbs with 28 or more annual house sales to July 31, 2022.