Perth inner city median home prices increasing at a rate of up to $25,000 per month

03/09/2021
Perth inner city median home prices increasing at a rate of up to $25,000 per month

The Perth property market continues to increase to new highs, with most inner-city suburbs enjoying an annual price increase of 20 per cent or more.

What this means in real terms is that prices are increasing between $16,000 – $25,000 per month (dependent upon what suburb we are talking about).

The chart below shows the growth in the last 12 months, the average monthly increase percentage rate and the monthly increase amount based on the August 2021 median house price.

Suburb 1st Aug. 2020 Median House Price 1st Aug. 2021 Median House Price % Annual Increase % Monthly Increase Monthly Increase
Perth $789,900 $994,300 26% 2% $21,441
Highgate $764,300 $1,010,000 32% 3% $27,057
Mt Lawley $1,000,000 $1,240,000 24% 2% $24,800
North Perth $842,700 $1,050,000 25% 2% $21,525
Mt Hawthorn $841,900 $1,030,000 22% 2% $19,177
Maylands $614,300 $767,500 25% 2% $15,951
Inglewood $815,400 $986,000 21% 2% $17,191

 

What’s interesting about these figures is that Highgate could quickly overtake Perth, North Perth and Mt Hawthorn as the 2nd most expensive suburb in the inner north of Perth.

This is not surprising to me due to the quality of housing in Highgate and its fantastic location.

Mount Lawley continues to grow in line with surrounding suburbs. There are about 6 sub-markets within the Mount Lawley Suburb, with the region bordering Highgate showing the most significant amount of growth.

I have made a quick video below if you would like to hear more about the Mt Lawley property market.

If you are wondering what your property is now worth, don’t hesitate to contact me for an updated appraisal. You may be surprised to hear how much it’s worth in today’s market, and this information could give you more options moving forward.

Regards

Chris Pham
Licensed Real Estate Agent
Mobile: 0448 777 511