Perth’s million dollar suburbs revealed

Research by the Real Estate Institute of WA shows there are 23 suburbs in Perth where the median house price is at least $1 million. The research considered suburbs with more than 30 annual sales.

Of those suburbs, some are surprising to the homeowners who bought there years ago.

The Milianku’s purchased their very first home in Subiaco at a time (1977) when the western suburbs and Subiaco in particular were considered very working class and even a bit rough (the suburb used to be referred to by the far from endearing name of ‘Scabiaco’).

Today Subiaco is one of Perth’s million-dollar suburbs. The couple sold their first home in the suburb in 1996 for $270,000. They subsequently purchased a second home in Subiaco for $410,000 and the couple estimate it has since tripled in value.

Of the 23 suburbs listed only one joined the list this year – Wembley (like Subiaco, also in the western suburbs). However three suburbs dropped off the list since last year – Salter Point, Mt Lawley and South Fremantle.

In terms of location of the million dollar plus suburbs:

• 8 are by the river
• 9 are close to the CBD
• 5 are by the beach.

Did your suburb make the cut?

To see the full list of Perth’s million dollar suburbs click on the link.

Post by ShelMarkblog 28 Sep 2017 0