The southern suburbs of Perth are leading the recovery of Perth’s property, being one of the areas most sought after by buyers.
New figures from the Real Estate Institute of WA have revealed the most demanded suburbs for buyers in 2019, and the southern suburbs have prevailed.
Six of the 10 best-selling suburbs in Perth were south of the river, with Lakelands near Mandurah leading the way.
Last year, 72 properties were sold in Lakelands last year, where there was a 36 percent increase in sales activity, the largest of any region in the metropolitan area.
The nearby Waikiki recorded 152 property sales, representing an increase of 21 percent, while Erskine, also in the southern suburbs, ranked tenth on the list, with 92 properties sold and a 14 percent increase in Sales
Mundaring, in the hills of Perth and the frontline suburbs, Alfred Cove and Swanbourne also appeared in the top 10.
Meanwhile, the fastest selling suburbs were further north.
Wembley topped the list with an average selling time of 39 days, 45 days faster than the average Perth selling time of 84 days.
Heathridge was very close with 41 days, while the properties were also quickly bought in West Leederville and Carine.
REIWA President Damian Collins said the figures were positive signs in a difficult year for the Perth real estate market.
“Last year, sales activity in Perth decreased by five percent, while 57 suburbs offset this trend to show an increase in activity, with Lakelands showing a 36 percent increase,” Collins said.
Collins said that seven of the 10 best-selling suburbs also recorded an increase in the average price of housing last year.
“The increase in sales volume and a reduction in sales days is often a major indicator of future price growth in a suburb,” he said.
“While sales activity at the lowest price end of the Perth market is still smooth, activity in the price range of more than 600,000 has strengthened, which has created a greater demand among buyers who now represent the 53 percent of shoppers. “
The 10 best-selling suburbs
3. Alfred Creek
6. The vines
Fastest selling suburbs
3. West Leederville
5. White Gum Valley
9. Shenton Park
10. Mount Claremont