Highest growth suburbs revealed

A peak industry body has highlighted the five top growth suburbs in one Australian capital city.

The Real Estate Institute of Western Australia has provided a breakdown of the top five highest growth suburbs in Perth based on the latest reiwa.com data as recorded for the December 2014 quarter.

1. Coolbellup

Perth's highest growth suburb for the year to December 2014 is Coolbellup, with an annual growth rate of 20.2 per cent.

The south-of-the-river suburb is located within the City of Cockburn and has an annual median price of $535,000 for the year to December 2014.

2. Bicton

Behind Coolbellup with a growth rate of 17.9 per cent, is Bicton.

Located 10 kilometres from Perth, Bicton’s annual median price for year to December 2014 was $1,049,000.

Properties in Bicton can be broken down into 65.3 per cent houses, 20 per cent duplex, villas or townhouses and 14.7 per cent flats, units or apartments.

3. Waterford

The suburb with the third highest growth in Perth is Waterford, registering an annual growth rate of 17.7 per cent.

Only 10 kilometres from Perth, Waterford is part of the City of South Perth and registered a population of 2,086 people at the time of the 2011 Census.

With a total household number of 668, the property landscape in Waterford is characterised by 90.9 per cent houses and nine per cent duplex, villas and townhouses.

4. Langford

Just behind Waterford is Langford with an annual growth rate of 16.1 per cent.

The south-east suburb is 17 kilometres from Perth’s CBD and is part of the City of Gosnells.

Its annual median price for the year to December 2014 is $441,250. It recorded a population of 5,529 at the 2011 Census with a total of 1,900 households.

Properties in Langford comprise 84.4 per cent houses, 11.1 per cent duplex, villas and townhouses and 4.5 per cent flats, units and apartments.

5. Mundaring

Rounding out the top five highest growth suburbs is Mundaring with 14.7 per cent annual growth.

The suburb’s annual median price for the year to December 2014 is $608,000.

Of the 1,163 total households that were recorded in the 2011 Census, Mundaring is comprised predominantly of houses at 92.5 per cent, with 4.1 per cent duplex, villas, townhouses and 2.4 per cent flats, units and apartments.

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