Median House Prices on the rise!
With the Perth property market having sat in the doldrums over the last 6 years, it's welcomed news that over the last 12 months we've started to see some positive stats creep into our news feeds!
I thought I'd share some of the Northern Coastal suburbs that have seen a positive increase in the Median House price over 2020!
In the year up to Nov 2020, Alkimos saw an increase in it's Median House Price of 5.49%! The suburb of over 6000 residents and 40kms from the Perth CBD has grown immensely over the last 10 years. Now boasting several schools, pubs across several of the land estates (including one that is absolute Oceanfront in Shorehaven ), cafes and easy access to the Mitchell Freeway! Adding to that is the commencement of construction for the Metronet station in Alkimos, due for completion in 2022. More price gains are very possible further into 2021 for this popular location!
With a population of around 2000 people, Eglinton was a strong performer in the back half of 2020 and for the first time since early 2019 the median house price is back at $400,000. With two established estates in Amberton & Allara and the newcomer by Peet, Eglinton is set for a continuation of its recent rise in 2021. The Amberton or 'Ambie' waterfront pub has been a huge success since opening and with the Mitchell Freeway & Metronet extensions being confirmed this will be a suburb watch!
2020 was a huge year for the Northern Coastal suburb of around 8000 residents. Following up a solid 4% increase in median house price throughout 2019, was over 14% to December 2020.
Some record sales in the area helped drive up the median and with the popularity of Catalina Beach Estate continuing to grow, this is definitely a great story for Perth. Can we see huge numbers for Mindarie again in 2021? Time will tell!
This beautiful suburb saw a sharp turn around in 2020, seeing positive growth for the first time in 4 years. Like Mindarie, it was sizeable - with an increase of just under 14% for the year bringing it to just under $890,000. Will 2021 see this suburb hit it's 2016 median high of $920,000. That would be further growth of 3.5% in 2021 which is achievable and I would not be surprised if we saw it go even higher! With new builds close to the water available for way under the median house price, Burns Beach is a suburb to keep an eye on! If you've got it on your shopping list, you might want to jump in now!
In my next post I'll give some insight into the North Eastern corridor! Thanks for reading.