Morawa stood out with three properties sales in the top five, including one for as little as $2000.
Hart said buyers in Morawa, Merredin and Coolgardie were able to secure homes on large blocks at a fraction of the cost of similar-sized properties in Greater Perth. These too tended to be older properties that required some work.
“Relocating to a regional area could be an affordable pathway into homeownership for some, but it’s important for buyers to consider a range of factors, including the lifestyle on offer, availability of local amenities and the potential costs associated with maintaining or renovating older properties, when contemplating moving to a country town,” she said.
It wasn’t only cheap properties in demand this year pushing up house prices.
Two neighbouring Perth postcodes featured in a national list of the top 10 high-growth coastal suburbs. Marmion and Watermans Bay, reached $2.1 million and $2.2 million respectively after increasing by around 140 per cent over the past five years.
The price growth saw Marmion ranked fifth, closely followed by Marmion. Regionally, Bremer Bay and Seabird also saw similar growth trajectories over the same time period.
Loading
Ray White Group senior data analyst Atom Go Tian said the premium nature of coastal living in metropolitan areas was evident in the price points, with six of the top 10 growth suburbs commanding values above $2 million.
“Only one suburb – Adelaide’s Maslin Beach – sits below $1 million,” he said.
“Sydney’s Darling Point stands as the most remarkable example of high-end coastal growth, achieving 137 per cent five-year growth despite its already substantial market position to reach $14 million.”