The big gains behind Perth's best-performing suburbs
Perth's best-performing suburbs are making millionaires out of home owners, with median house prices in some leaping by as much as $500,000 in 12 months.
However, new data reveals other suburbs are sliding backwards.
Domain's House Price Report for March reveals Perth's best-performing suburb is Ardross, where the median house price surged 51.5 per cent from $1.13 million to $1.72 million in a year – a gain of $585,554.
This price gain is more than the median unit price in Perth, which currently sits at $508,367.
Medina in the City of Kwinana recorded the next highest gains, jumping 40.5 per cent from $384,496 to a new median of $540,250, an increase of $155,754.
A slew of suburbs in the top 10 for biggest gains across the year were propelled into the million-dollar club, including West Leederville (up 40.3 per cent to $1.23 million), Bull Creek (up 38.7 per cent to $1.38 million), Booragoon (up 38.3 per cent to $1.3 million) and White Gum Valley (up 33 per cent to $1.2 million).
Armadale rounded out the top 10 with a gain 32.5 per cent to a median of $550,000 and has recorded an incredible growth of 154 per cent in five years, a gain of $333,465.
Strategic Property Group managing director Trent Fleskens said Ardross offered fantastic amenity, wedged between Westfield Booragoon and the Swan River.
'It is enjoying a ripple effect from the premier neighbouring suburbs Applecross and Mount Pleasant,' he said.
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