A study into the median price of houses across the country has named Meadow Springs among the top ten best performers since 1993.
PIC: Google Maps
The study identified the best performing suburbs for price growth in the nation, based on median price changes since 1993.
A majority of the suburbs came from Sydney and Melbourne, but WA's south west managed to score 3 of the top ten spots, with Meadow Springs coming in at sixth.
Chief Executive Officer of Aussie, Mr James Symond, said "Despite property values tracking lower since 2014, Perth has the third highest growth in house and unit values over the last quarter-century. It has 12 suburbs in the national top 100 list for value growth, and the South West also has a strong presence taking out three spots in the national top 10, with Leschenault at number two, Meadow Springs at number six followed by Glen Iris at number seven."
Detached houses were found to be a primary growth driver, with a distinct absence of unit markets leading researchers to believe land value was a key factor.
PIC: CoreLogic
Housing affordability is still a concern with first home buyers continuing to face an uphill battle, but Mr Symond said the report shows housing remains our most valuable asset.
Despite this, first home buyers are more active in WA than any other state or territory, with average mortgage rates currently close to their record low levels of the 1960’s.
"Loan serviceability levels have actually improved in recent years, helped by the trend towards lower home prices that has been evident since 2014," said Mr Symond.
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