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Perth home values up 10 per cent in last 10 months
The Perth residential sales market continued its growth trajectory for a tenth consecutive month in May, with the Core Logic Perth home value index increasing 1.1 per cent during the month.
REIWA President Damian Collins said that brought Perth price growth to seven per cent for the first five months of the 2021 calendar year and 10 per cent since July 2020, Mr Collins said.
Median house sale price
Perths median house sale price for May was $510,000, with reiwa.com data revealing 81 suburbs recorded house sale price growth during the month.
The top performers were Attadale (up 4.9 per cent to $1.25 million), Scarborough (up 3.8 percent to $755,0000), Melville (up 3.6 per cent to $860,000), South Lake (up 3.6 per cent to $400,000) and Hamilton Hill (up 3.5 per cent to $490,000),” Mr Collins said.
Ambitious spending on rejuvenating ageing infrastructure, including possibly relocating some of its faculties away from Hampden Road in Nedlands, flies in the face of job cuts.
While the overall Perth median house sale price in March 2021 failed to eclipse the market’s 2014 peak, parts of the region have reached historic highs.
Trophy home sales surge as the rich seek sanctuary
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Australia’s high-end property markets are awash with money and buyers looking for homes that have everything, no matter the cost.
Sydney and Melbourne lead the way with prices reaching $40 million in Point Piper while Toorak has already had five $20 million-plus sales this year compared with just two in the previous three years.
The view from Horizon, a mansion at Flinders, Victoria, which recently sold for almost $25 million.
Big money is also finding an ultra-expensive home in sought-after regional destinations such as Byron Bay, Noosa, Palm Beach, Southern Highlands and Mornington Peninsula.
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