Rockingham among top three Perth suburbs where unit prices are growing faster than house prices

PIC: File

Rockingham is among the top three Perth suburbs where unit prices are growing faster than house prices.

REIWA has revealed Joondalup, Maylands and Rockingham are benefiting from a strong buyer demand with more people turning to units as an alternative entry into the WA property market.

Rockingham's median unit sale price is $282,000 an increase of 34.5 per cent over the year, compared to a 10.9 per cent increase in house prices.

REIWA President Damian Collins said it is pleasing to see these suburbs joining in on the Perth property market recovery.

“Unit prices were especially impacted during the market downturn, falling 17 per cent since their peak compared to house prices which fell 13 per cent," Mr Collins said.

"Typically, it takes a longer time for the unit market to catch up to houses when prices rebound, however, these 19 suburbs are bucking the trend and seeing unit prices grow at a stronger rate than houses,” Mr Collins said.

The 19 Perth suburbs where unit prices are growing faster than house prices: 

Suburb

Median house sale price

Annual change in median house sale price

Median unit sale price

Annual change in median unit sale price

The rate of unit price growth compared to house price growth in that suburb

1. Joondalup

$529,000

7.6%

$402,500

31.8%

x4.16

2. Maylands

$720,000

9.1%

$382,700

32.0%

x3.52

3. Rockingham

$421,250

10.9%

$282,500

34.5%

x3.18

4. North Perth

$900,500

3.2%

$448,000

9.3%

x2.89

5. Mosman Park

$1.625 million

16.1%

$430,000

39.3%

x2.44

6. Como

$940,000

9.4%

$489,000

18.7%

x2.00

7. Balcatta

$510,000

7.6%

$378,500

14.7%

x1.94

8. Rivervale

$550,000

8.9%

$398,250

14.4%

x1.62

9. Hamilton Hill

$525,000

19.3%

$344,000

28.6%

x1.48

10. Mount Lawley

$1.077 million

13.4%

$399,000

19.3%

x1.44

11. Innaloo

$582,500

9.9%

$455,000

13.8%

x1.39

12. Tuart Hill

$579,000

11.3%

$330,000

15.3%

x1.35

13. Inglewood

$850,000

9.7%

$390,000

12.2%

x1.26

14. Bassendean

$550,000

14.6%

$335,000

17.5%

x1.20

15. Cloverdale

$440,000

10.0%

$305,000

11.9%

x1.19

16. North Coogee

$1.16 million

4.5%

$550,000

5.0%

x1.11

17. Joondanna

$725,000

13.3%

$375,000

14.5%

x1.09

18. Fremantle

$872,000

10.4%

$550,000

11.1%

x1.07

19. Mandurah

$290,000

18.4%

$317,500

18.9%

x1.03

*Data is for suburbs with 28 or more transactions during the 12 months to September 2021. Table: REIWA 

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