10 Perth Suburbs Saw House Prices Soar By 26%
Five of those suburbs broke the million-dollar mark this financial year.
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New data from the Real Estate Institute of Western Australia (REIWA) shows the five suburbs of Marmion, Gwelup, Mount Hawthorn, Fremantle and North Perth all had median house sale prices under $1 million at the end of June 2021, and have now, 12 months on, broken the seven-figure mark.
It comes as 10 Perth suburbs saw a median house price rise at least 26% in the 12 months to June.
Marmion recorded the largest house price growth in the 21-22 financial year — the median sale price rising 39.6% from $966,250 to 1.35 million.
It was closely followed by Gwelup with a median house sale price of $882,500 and finished the financial year at $1.112 million.
Mount Hawthorn followed with 32.8% growth and a median house sale price that ascended from $952,500 to $1.265 million.
REIWA Presidente Damian Collins pointed to the strength of Perth’s property market — reflected in the high growth rates of the top 10 suburbs. Each suburb on this list experienced median house sale price growth of more than 26 per cent in just 12 months, which is significant and suggests competition amongst buyers is high,” Mr Collins said.
Of the 10 suburbs on the list, nine had median house sale prices above $1 million.
“While price growth has been widespread across all price points over the last 12 months, it is Perth’s luxury market that has dominated this list.”
While property markets across Australia have started to decline, the market in WA and Perth has resisted downward pricing pressure.
“REIWA anticipates Western Australia’s strong residential property market conditions will continue for some time, driven by the state’s healthy economy, ongoing population growth and housing shortage,” Mr Collins said.
As tariffs bite, Sydney’s MAISON de SABRÉ is pushing deeper into the US, holding firm on pricing and proving that resilience in luxury means more than survival.
Early indications from several big regional real-estate boards suggest March was overall another down month.
$30 Million Nashville-Area Estate Quietly Looks for a Buyer.
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A 120-acre property 35 miles outside of Nashville, Tennessee, is selling off market for $30 million, making it the second-most-expensive home for sale in the state.
Located in Franklin, about 20 minutes from downtown, Cortina Farms is both a private residence and an event venue, which charges up to $56,000 to rent for the day, according to Compass, which is marketing the pocket listing. Erin Krueger holds the listing.
The only residence on the open market with a higher price in Tennessee is another Franklin property, which spans 749 acres and is asking $37.5 million.
Cortina Farms takes design inspiration from the Italian countryside, with stonework heavily featured around the verdant grounds.
The main house, with a stone exterior and a shingled roof, has approximately 2,500 square feet of living space, with three bedrooms and two bathrooms. Outside, there’s a covered back porch, an outdoor grill, a pool and a hot tub. There are also two guest apartments off the main house, each with a bedroom and a full bathroom.
In addition to its event business opportunities, the property is also designed for an equestrian, with two barns featuring a total of 12 stalls. Near the stables are four large fenced pastures that equal about 10 acres.
Other amenities include a wellness center, a party barn with a catering kitchen, an amphitheater, two lakes stocked with bass and catfish, and a helipad. Scenic trails for walking, running or ATV riding meander throughout the property past creeks, mature trees and waterfalls, according to information provided by Compass.
The property last traded hands in 2021 for $9 million, records on PropertyShark show. The owners weren’t available for comment.
The Nashville metro area has become a luxury real estate hot spot over the past few years, largely attracting people from Los Angeles as well as other out-of-state buyers looking for properties with a large amount of acreage.
Chinese fashion giant faces a double whammy of steep U.S. tariffs and an end to its duty-free shipping.
The Mayfair home, listed for £8.25 million, once belonged to the Earls of Lindsay.
