Construction Industry in Australia Soars to New Heights with Record Crane Activity
Australia’s construction industry is on an exhilarating journey marked by a remarkable…
7 March 2022
In Western Australia’s Perth, 63 suburbs have announced record-breaking sale prices from 2021; the highest ever seen in the state.
2021 introduced the most competitive market that the state has ever seen, with rising sale prices, strong demand and low stock throughout the Covid-19 pandemic.
With many spending more time at home, unable to holiday and looking further into their real estate and their investments. The pandemic-fuelled market showed buyer interest like never before.
The suburb of Baskerville recorded the biggest difference between past and present prices, with its new highest sale price 133% higher than its previous highest price, recorded in 2015. North Coogee came in second, with its new highest sale price 119% higher than its previous highest, recorded in 2018. Mt. Pleasant recorded an $11.3 million sale, the highest sale in the state.
REIWA President Damian Collins said, “With market conditions showing no signs of slowing down, it will be interesting to see how many more Perth suburbs achieve record-setting sales throughout 2022.”