Tuesday, March 19, 2013

Top 10 Suburbs in Perth in 2012 (looking only at YoY)

2012 was a very quiet year for Perth real estate, but there were some suburbs that did particularly well. When we only look at the median house prices for 2012 compared only to the previous year, the top ten suburbs recorded more than 10% growth. These were the top ten suburbs that increased in value over 2012 compared to 2011.

1 Mount Lawley 19.6%
2 Hammond Park 13.3%
3 Orelia 12.7%
4 Mount Pleasant 12.7%
5 Osborne Park 11.7%
6 Sinagra 11.0%
7 Mundaring 10.9%
8 Helena Valley 10.7%
9 Ardross 10.6%
10 Beeliar 10.6%

Bear in mind that this could be due to many factors such as the number of houses sold in 2012 and the type of houses that exchanged hands. Another factor is how the suburb did in the previous year. For example, Mt Lawley's median house price was $1.035 million in 2010. However, according to REIWA, in 2011 the median house price went down to $852,500 which was a 18% drop. Compared to 2010, last year's house prices in Mt Lawley are still lower than in 2010. So, dear reader, beware of statistics when playing with real estate.

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