Mandurah real estate: Madora Bay and South Yunderup house prices soar in 2018

Prices of homes in Madora Bay and South Yunderup soared in 2018, with the suburbs among WA’s top for annual growth.

Statistics from the Real Estate Institute of Western Australia (REIWA) show Mandurah suburb Meadow Springs recorded the second-highest increase in the state last year.

The median house price increased 28.7 per cent to $560,000 – with only City of Swan suburb Brabham jumping up by a higher percentage (31.8 per cent).

Shire of Murray locale South Yunderup was also included in the top ten.

The waterside suburb’s median house price increased by 13.7 per cent to $540,000.

REIWA president Damian Collins said while the overall Perth market was fairly subdued during 2018, suburbs like Madora Bay and South Yunderup had defied this trend to record significant median price growth.

“Increased demand in Perth’s luxury market is creating more competition between buyers, resulting in quicker selling times and higher sale prices,” he said.

“This data shows that home owners in these aspirational suburbs who are thinking of selling are well placed to secure a sale at a favourable price.

“However, caution should be exercised in translating these figures to the values of the properties in these (growing) areas.

“Suburbs with newer stock can see changes in median prices that are out of step with the underlying individual property values.”