Serpentine-Jarrahdale the only WA region with double-digit 10-year growth: CoreLogic

Serpentine-Jarrahdale the only WA region with double-digit 10-year growth: CoreLogic
Serpentine-Jarrahdale the only WA region with double-digit 10-year growth: CoreLogic

Western Australia lags behind rest of the nation in price growth of dwellings over the last 10 years, with only Serpentine-Jarrahdale growing in double digits, according to the latest CoreLogic data.

With a 10 year growth of 17.5%, Serpentine-Jarrahdale has outperformed the rest of WA, with every other region of the state recording growth of less than 5% over the decade.

The data also highlights just how weak the housing market in Perth has been over the past decade.

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Serpentine-Jarrahdale the only WA region with double-digit 10-year growth: CoreLogic

CoreLogic’s methodology is based on the best performing property markets at an SA3 level (SA3 represents a regional area serviced by major transport & commercial hub with a population of between 30,000 and 130,000 people).

The median price of dwellings in Serpentine-Jarrahdale was $406,775, according to CoreLogic data.

A four-bedroom house at 18 Mcneil Grove, Jarrahdale (picture above) sold for $410,000 in December 2016. Previously, it traded for just $33,500 in March 2002, Corelogic data shows.

Another house in Jarrahdale, at 5 Brady Road, sold for $285,000 in July 2017, having previously changed hands for $280,000 in April 2009.

The growth in value was just $5000 in eight years, a good example of the weakness in the WA market.

Serpentine-Jarrahdale the only WA region with double-digit 10-year growth: CoreLogic

 

Tags: 
Price Growth Jarrahdale

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