The property discourse in Perth, split by the Swan River, continues to thrive, with last year’s growth experienced in both northern and southern suburbs. However, the northern suburbs have emerged as the more favoured option due to their vibrant atmosphere, higher population density, and a wider array of attractions, contributing to increased property prices compared to the south.
In contrast, the southern suburbs are preferred by families who appreciate larger land blocks and more schooling options, as noted by the Real Estate Institute of Western Australia (REIWA). Property expert Gavin Hegney likens the market dynamics to a “seesaw effect,” alluding to the cyclical nature of growth between the two regions.
This week, the Perth property market saw a surge, with 4,932 homes listed and 970 properties either sold or under offer. Notably, Baldivis, Scarborough, East Perth, and Perth emerged as the top-selling suburbs. Additionally, the rental sector is showing positive trends, with over 2,100 rental properties available and 724 units leased, marking an increase from the previous week.