Three Mandurah suburbs have more than doubled their sales volumes compared to this time last year.
REIWA sales data for the March 2021 quarter shows Mandurah, Dawesville and Wannanup were among the top 10 performing suburbs in Perth and Peel.
Central Mandurah led the way for the Peel with 49 properties sold in three months, compared to 22 the previous year. In Dawesville there were 62 homes sold, compared to 28 and in Wannanup 43 compared to 20.
Kevin Green licensee Darren Ahearn said sales were high in all Mandurah suburbs.
But he said demand in both the sales and rental markets, although still strong, had slowed in the three months since March.
He said he suspected this coincided with the first homes being finished from the construction boom that began with government stimulus measures introduced for new builds last year.
REIWA data shows a total of 138 suburbs in Perth recorded increased sales volumes in the March 2021 quarter.
REIWA president Damian Collins said it was interesting to see that the majority of the suburbs that saw substantial sales growth had a median sale price around or below the Perth median of $510,000, suggesting that many first home buyers were opting to buy instead of rent due to the relatively affordable prices and record low interest rates.
WA had also had the biggest annual increase in first home buyers in the country, more than doubling over the past year.
He said all of the top 10 suburbs had an increased median sale prices.
Wannanup recorded the biggest increase to its median house sale price when comparing the March 2021 and March 2020 quarters, increasing 21.2 per cent to $515,000.
But Mr Ahearn said because Wannanup had such a diverse range of properties - from entry level units to luxury canal homes, it took just a few big sales to skew numbers.
"I think the increase in prices in Wannanup is in line with the rest of Mandurah where over the course of the year we'll probably see property prices grow by about 8-9%."
In the established market, REIWA is predicting that property prices will grow by 15% in WA this year.
Daniela Cooper
Daniela has returned to her first love after a decade of working in local, state and federal governments, non-profits and the corporate world. She has a passion for injustice; to be a voice for those who don't have one; to hold power to account; and to bring readers the news without fear. She loves to explore new places and unfamiliar topics (both in her professional and private life) but her go-to loves are travel, health, social justice, foreign affairs and the outdoors. Email daniela.cooper@austcommunitymedia.com.au
Daniela has returned to her first love after a decade of working in local, state and federal governments, non-profits and the corporate world. She has a passion for injustice; to be a voice for those who don't have one; to hold power to account; and to bring readers the news without fear. She loves to explore new places and unfamiliar topics (both in her professional and private life) but her go-to loves are travel, health, social justice, foreign affairs and the outdoors. Email daniela.cooper@austcommunitymedia.com.au
