This is the most buoyant Perth market we’ve recorded in the six years of our quarterly surveys of sales activity and prices.
There are 59 rising suburbs across the Perth metro area, with the growth areas dominated by the affordable markets.
The number of growth suburbs is the highest we have seen, the previous best being 51 early in 2019.
It’s worth recalling that four years ago our survey found zero growth suburbs in Perth but 58 suburbs classified as declining or danger markets.
Much has changed, included a big reduction in vacancies (currently below 1%) and very busy activity from first-home buyers, boosted by high levels of government assistance.
This comes against a backdrop of the pandemic being brought under control early in Western Australian, the state economy improving and a high level of consumer confidence.
The growth markets in Perth are dominated by the cheaper areas where FHBs are most likely to be active.
Four LGAs which offer affordable land and houses – Wanneroo, Gosnells, Rockingham and Armadale – account for almost half of the rising suburbs across the Perth metropolitan area.
And, as a result of this notable improvement in market conditions in Perth, we are now seeing more and more evidence of price growth emerging – the first in this market in six years.
So it’s timely that we have just published our new 2021 edition of Top 5 Perth Hotspots report.
It outlines the locations we think will be at the forefront of the rise in the Perth property market.
Get yourself a copy today.
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