North Fremantle Market Report
QUARTER
THREE 2024
Market Update
At the start of the third quarter of 2024, REIWA reported that there were only 3,144 properties listed for sale in the Perth metropolitan market of which only 1889 were houses. This is the lowest reported total listings ever recorded in Perth. Previously, high levels of household savings and constrained housing supply in Perth were making the country’s monetary policy more effective, and while Perth has been experiencing high levels of migration in part due to its affordable housing, the affordability is reducing in these areas due to limited supply because of high construction costs. At some point, many households will spend through their savings and a rise in sensitivity to rates will impact our economy.
Perth is one of just three Australian capital cities continuing to show strong price growth with North Fremantle’s median house price up 27.6% in the past year to $1.74Million. North Fremantle remains an intriguing enclave characterised by its vibrant community
of career-oriented couples, where professional life intertwines seamlessly with the charm of suburban living. Nearly 65% of residences in North Fremantle stand as proud owneroccupied abodes, reflecting a profound affection for the locale among its residents.
If you are remotely thinking of selling or know of someone who is, then please do not hesitate to contact me for a confidential discussion.
25
9
Q2 2024 Sales
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