There were 63 Perth suburbs that recorded their highest ever individual residential sale price during 2021.
REIWA President Damian Collins said strong market conditions had resulted in a substantial number of suburbs achieving their highest individual residential sale price on record last year.
2021 was a buoyant year for the Perth property market, with low stock, rising prices and fast selling times creating extremely competitive buying conditions.
These strong conditions have resulted in 63 suburbs recording individual sale prices that eclipsed their previous highest sale records, Mr Collins said.
Of the 63 suburbs, 14 saw a more than 20 per cent increase between their previous and current highest sale prices.
Baskerville recorded the biggest differential between prices, with its new highest sale price 133 per cent higher than its previous highest price recorded in 2015. North Coogee came in second, with its new highest sale price 119 per cent higher than its previous one in 2018.
There are many factors that could contribute to this differential, like large land sizes or sub-division opportunities, however, these sale prices still speak to the strength of the market, Mr Collins said.
With market conditions showing no signs of slowing down, it will be interesting to see how many more Perth suburbs achieve record-setting sales throughout 2022.
The 10 suburbs with the biggest increase between current and previous highest sale prices
| Suburb | Median house price | Highest sale price in 2021 | Previous highest sale price and year | Percentage change |
|---|---|---|---|---|
| 1. Baskerville | $996,750 | $1.2 million | $515,000 (2015) | 133.0% |
| 2. North Coogee | $1.19 million | $4.6 million | $2.1 million (2018) | 119.0% |
| 3. Glen Forrest | $640,000 | $2.2 million | $1.25 million (2020) | 76.0% |
| 4. Swanbourne | $1.825 million | $13.3 million | $7.9 million (2008) | 68.4% |
| 5. Highgate | $922,500 | $2.5 million | $1.5 million (2018) | 66.7% |
| 6. Karrinyup | $965,000 | $3.5 million | $2.28 million (2017) | 53.0% |
| 7. Mount Pleasant | $1.38 million | $11.3 million | $8 million (2017) | 41.3% |
| 8. Willagee | $642,500 | $1.415 million | $1.025 million (2017) | 38.0% |
| 9. Ocean Reef | $847,500 | $4.2 million | $3.1 million (2020) | 35.5% |
| 10. Nedlands | $2.05 million | $10.7 million | $8.075 million (2017) | 32.5% |
