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Newest suburbs are property pri...

Newest suburbs are property price leaders in Perth

Some of the newest suburbs in Perth have become property market leaders in terms of median price growth. 

This is according to the findings of the latest figures from CoreLogic RP Data, which show that Dayton, which was established in 2011, enjoyed median price growth of 102.5 per cent over the past five years. 

This makes it the biggest growth of its kind - and Dayton is closely followed by Piara Waters, established in 2007, at 99.3 per cent, and Wandi, 78.7 per cent. 

Spearwood (units), Watermans Bay, Lathlain, Chidlow, Hammond Park, Crawley (units) and Munster round out the top ten. 

A combination of two factors - affordability and convenience of location - were highlighted as the driving forces behind this trend. 

Independent property analyst Gavin Hegney told Perth Now that he was not surprised by the growth, referring to it as a honeymoon period for the suburbs. 

He said Dayton's median house price of $480,000 make it an attraction, as well as its proximity to the Swan Valley, Whiteman Park and John Forrest National Park. 

Although the median house price is below average for Perth, its locational features are very appealing. 

"Anyone travelling to the Swan Valley understands it is a very unique precinct in Perth and is becoming more desirable with its growing [number of] eateries, breweries and wineries," Mr Hegney remarked. 

Among the first people to set up a home in the suburb were Elise Laycock and partner Zona Peng - and they said they were attracted to its peaceful setting, proximity to the Hills and access to the coast.

"I feel like we have the best of both worlds and it suits the lifestyle we like," Ms Laycock commented. "At the time, Landsdale was our other choice, but it (was) too expensive for us as first-home buyers."

All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

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