Revealed: Perth's top-performing suburbs

Woodlands was Perth’s top-performing suburb for price growth last year, with its median house sale price increasing 35% to $1.23 million.

Shenton Park was second, with 32.1% price growth in 2021, followed by Hillman with 29.1% price growth, according to the Real Estate Institute of Western Australia.

REIWA President Damian Collins said that while the overall Perth housing market posted price growth of 13% last year, there were several suburbs that far exceeded that number.

“2021 was a big year for the Perth property market overall and an even bigger year for these 10 best-performing suburbs, with each recording 25% or more price growth in just 12 months,” Collins said.

Of the 10 best-performing Perth suburbs, five had median house sale prices over $1 million, with three of those exceeding the $1 million mark in 2021, REIWA reported.

“Woodlands reached the $1 million price bracket for the very first time [in 2021], while Wembley Downs’ median price pushed past $1 million for the first time since 2019 and North Beach’s median price pushed past for the first time since 2017,” Collins said. “We also saw seven of the 10 suburbs either reach or exceed their previous highest median sale prices, which is very good news for property owners in those areas.”

Hillman, Lockridge and Brookdale were the only suburbs on the list that have yet to reach their previous peak prices, REIWA said.

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“The lower end of the Perth market was the most impacted by the downturn, so it’s not surprising those suburbs are taking a little longer to make up that lost ground,” Collins said. “It will be interesting to observe the growth trajectory of these suburbs over the next 12 months. REIWA does not anticipate market conditions slowing anytime soon, with our Perth outlook forecasting a further 10% price growth in 2022.”

Perth’s 10 top-performing suburbs in 2021