2021was a big year for the Western Australianproperty market, with demand for property strong as pricesincreased, salesvolumes grew and days on market shrunk.
CoreLogicreleased its ‘Best of the Best 2021 nationalhousing report last monthwhich looks at the best performers (across arange of factors, such as top sale, highest andlowest median values andhighest total sales) throughoutthe year to November foreach state.
Most expensive and most affordable suburbs
Theresults for WA showed that Dalkeith had the highest median house value during2021 at $2.822 million, whilst North Fremantle had the highest median unitvalue at $771,064.
Themost affordable place to buy a house in WA was in Kambalda East, with itsmedian house value sitting at $90,155, while the most affordable place to buy aunit was in Orelia (despite its strong growth) at $176,480.
Thefive suburbs with the highest median house value during 2021 wereDalkeith ($2.822 million), Peppermint Grove ($2.699 million), Cottesloe ($2.406million), City Beach ($2.242 million) and Swanbourne($1.893 million).
Top sales performers
CoreLogicalso looked at the most recent salesdata for the 12 months to September 2021 and found that the mostexpensive property sold in WA was inPeppermint Grove, fetching a sale price of $15.7 million. Thenext most expensive property sold was for $13.3 million in Swanbourne. Bothsales occurred during August 2021.
Duringtheyear to September 2021, Baldivis recorded 899 house saleswith a median value of $451,074, netting a total sales valueof $392 million. Cottesloe ranked second, recording 146 housesaleswitha median value of $2.406 million, netting a total sales value of $388 million.
Othersuburbs to rank highly for total combined sales values were Nedlands ($382million), Mosman Park ($357 million) and Halls Head ($337 million).
Theregional suburb to net the highest value of sales was Dunsborough, recording267 house sales with a median value of $861,671, to net a total sales value of $226million.
Aswe move through 2022, we anticipate another strong year of sales and pricegrowth in WA.
Note:CoreLogics median value is a measure of the median (50th percentile) estimatedvalue of all properties based on their hedonic imputation method, irrespectiveof whether it transacted or not.