YANCHEP was one of the metropolitan suburbs to record median house sale price growth during August despite a dip in the home value index.
Altogether REIWA data showed 56 Perth suburbs recorded median house sale price growth in the past month despite CoreLogic’s Perth home value index declining 0.2 per cent.
REIWA president Damian Collins said a minor dip in the home value index was always a possibility given the interest rate environment, but that Perth was holding up very well overall – particularly in comparison to other capital cities around the country.
“We anticipate there will be fluctuations month-to-month in the overall Perth figure as buyers adjust to interest rates rising, however Western Australia’s strong economy, growing population and housing shortage point to the current growth cycle continuing,’’ he said.
“At a suburb level, reiwa.com data reflects feedback from REIWA agents who continue to report fierce competition for properties and good outcomes for sellers on the ground.
“This is evidenced by the 56 suburbs that saw median house sale price growth during the month,” he said.
The five suburbs to record the biggest increase in price during August were Maida Vale (up 3.1 per cent to $593,750), Cooloongup (up 2.6 per cent to $370,000), Hillarys (up 2.5 per cent to $1.005 million), Southern River (up 2.2 per cent to $625,000) and Orelia (up 1.9 per cent to $327,500).
Other suburbs to perform well for median house sale price growth were Stirling, Seville Grove, Woodvale, Yanchep and Girrawheen.
On September 3 according to REIWA’s suburb profile for Yanchep its 2022 median house sale price is $465,000.
According to reiwa.com data the fastest-selling suburbs in August were Orelia (six days), Greenfields (seven days), Merriwa (seven days), Parmelia (seven days) and Cooloongup (eight days).
Other suburbs to record fast median selling times were Kingsley, Warnbro, Kinross, Carramar and Clarkson.
