Bouvard and Jarrahdale have been named among the top 20 suburbs set to join Perth's million dollar club in 2025.
The median house price in Bouvard is currently $970,000 while Jarrahdale sits at $910,000.
REIWA CEO Cath Hart said with property prices expected to increase five to 10 per cent this year, these suburbs are expected to hit the million dollar mark.
“Our predictions include suburbs north and south of the river and in the Hills," she said.
“The suburbs currently closest to the mark are Connolly ($995,000), Lathlain ($994,500) and North Lake ($990,000) which were just short of joining the list in 2024.”
Ms Hart said price growth was affected by a number of factors.
“An overall growth environment, as we’re experiencing now, will see prices increase in general,” she said.
“A more specific factor is the demand to live in a particular area. The greater the demand, the greater the upward pressure is on prices.
“Demand can be driven by a suburb’s proximity to schools, lifestyle hubs, the city, coast and river. An improvement in local amenity can boost demand.”
Ms Hart said prices can also increase as a flow-on effect from price growth in neighbouring suburbs.
“As a popular area becomes less affordable, buyers turn their attention to adjacent suburbs,” she said.
“Many of the suburbs on track to join the million dollar club in 2025 are located next to existing members of the club,” she said.
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