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In January 2024, Mindarie recorded the fastest house-price growth of any Perth suburb in the figures the Real Estate Institute of Western Australia (REIWA) made available, according to a PerthNow report published on 7 February 2024. The reported monthly rise was 3.7%, lifting the suburb’s median house price to $933,500. That is a one-month result from a secondary news report, not a current ranking, and it says nothing on its own about whether Mindarie is a good place to buy or hold property today.
What the January 2024 figures show
PerthNow attributed the ranking and all of its numbers to REIWA. The table below lists the five suburbs the report named, using the monthly percentage change and median price exactly as reported for January 2024.
| Suburb | Reported monthly house-price increase (January 2024) | Reported median house price (January 2024) |
|---|---|---|
| Mindarie | 3.7% | $933,500 |
| Como | 3.0% | $1,122,500 |
| Camillo | 2.4% | $420,000 |
| Armadale | 2.4% | $389,000 |
| Bull Creek | 1.8% | $945,250 |
Source for every figure in the table: PerthNow, “REIWA reveals Mindarie is Perth’s top suburb for house price growth in January 2024,” 7 February 2024, perthnow.com.au.
Two things stand out. Mindarie had the highest growth rate but not the highest price: Como’s reported median was roughly $190,000 higher, and Bull Creek’s was also above Mindarie’s. Growth and price are separate measures, and a suburb can lead on one while sitting mid-table on the other.
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How to read a one-month ranking
A single month’s percentage change is a small, noisy measure. Three habits will keep it in proportion.
- Treat the rate and the median as separate axes. A 3.7% rise on a $933,500 median and a 2.4% rise on a $389,000 median describe different kinds of movement in dollar terms. Compare them side by side rather than ranking on the percentage alone.
- Do not read a monthly high as a trend. One strong month can reverse the next. The report gives no earlier months, so it cannot show whether January 2024 was part of a longer pattern.
- Do not treat growth as proof of value. Price growth tells you what happened to sale prices in one period. It does not tell you what a specific property is worth, what it will earn in rent, or what it will sell for later.
What the local agent said, and what it does not establish
PerthNow quoted Mindarie-based agent Tracy Laurence on the suburb’s appeal: “Mindarie is a beautiful summer suburb because you’ve got the marina and beach at both ends,” she said. She also said: “I’ve always said it’s underpriced for what you get out here and what’s available out here. You’ve got really good schools and some of the entertainment areas we’ve got . . . it’s five or six minutes up the road,” she said.
These are one agent’s opinions and local descriptions. The article offers a possible summer effect as a suggestion, not as a demonstrated cause of the January rise, and the report does not test it against other explanations such as interest rates, stock levels or the mix of properties sold. Treat the quotes as colour about the suburb, not as an explanation of the numbers.
PerthNow also quoted OpenCorp director Michael Beresford on investment decisions: “My frequent advice to investors is ‘don’t buy with your heart’. Emotion has no place in investment.” That comment was made in a separate context about investing in general. It is not REIWA’s view and says nothing specific about Mindarie.
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What the source does not tell you
The available report is a news article that attributes figures to REIWA. Several things a careful reader would want are missing:
- No primary release. The REIWA release behind the figures was not located, so the numbers are reported here as PerthNow presented them, not independently checked against REIWA’s own publication.
- No methodology. The article does not explain how median prices were calculated, what geographic boundaries applied, or whether figures were later revised.
- No sample size. Transaction counts are not given. A suburb with a handful of sales in a month can produce a large percentage swing, and the report does not show how many sales sat behind Mindarie’s 3.7%.
- No uncertainty range. The report gives single-point figures with no margin of error or caveat.
The article also states that Mindarie’s median was $333,500 above Perth’s median. Taken at face value, that gap would imply a Perth median of $600,000 against the January figure. However, the same article gives $600,000 as Perth’s median in a separate image caption about a later spring selling season. The report does not make clear which period the $333,500 comparison refers to, so a January Perth baseline is not established by the article and should not be assumed.
How to check the figures yourself
- Search REIWA’s website for its monthly market release covering January 2024. Its published suburb tables are the primary place to confirm the 3.7% and $933,500 figures.
- Confirm whether the release reports median prices for houses separately from units, since a headline Perth or suburb figure may combine property types.
- Check whether the release shows the month’s sales count for Mindarie and whether the figures have been revised in later releases.
- Pull a current suburb profile and compare recent sales for comparable homes before drawing any conclusion about value.
Where this leaves the headline
The headline is accurate to the PerthNow report: in January 2024, the REIWA figures reported there put Mindarie at the top of Perth’s house-price growth table for that month, at 3.7%. The number is specific, dated, and secondhand. It is useful as a snapshot of one month’s movement in one suburb, and it should be read with the median prices, the missing methodology, and the date in view.
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