The 19 Perth suburbs where unit prices are growing faster than house prices
Unit price growth is outperforming house price growth in 19 Perth suburbs, with Joondalup, Maylands and Rockingham the top three suburbs where unit price growth is stronger than house price growth.
REIWA President Damian Collins said it is pleasing to see units in these suburbs benefiting from the strong buyer demand and joining in on the Perth property market recovery.
“Unit prices were especially impacted during the market downturn, falling 17 per cent since their peak compared to house prices which fell 13 per cent. Typically, it takes a longer time for the unit market to catch up to houses when prices rebound, however, these 19 suburbs are bucking the trend and seeing unit prices grow at a stronger rate than houses,” Mr Collins said.
Of the 19 suburbs where unit price growth is outpacing houses, Mosman Park recorded the biggest increase to its median unit sale price over the year, lifting 39.3 per cent.