7 Top Spots to Invest in Perth’s Property Market Right Now
We scour the state to deliver seven key suburbs investors should have on their radar.
Perth’s property market posted strong gains throughout 2021, yet remains the most affordable capital city in Australia, after Darwin. It offers prospective buyers excellent value for money –compared to both Sydney and Melbourne – while investors benefit from some of the highest rental returns in the country. Bucking the national trend, house prices continue to climb in Perth to a new record high of $651,956, with the market poised for further growth. Here are seven suburbs we currently have our eye on.
Willagee
Prices lifted more than 15% over the past year in the suburb of Willagee, roughly 20 minutes south of the Perth city centre. Eyed by young families, couples and empty nesters, it has broad appeal thanks to its central position, mix of property and a thriving community atmosphere. A house here will cost you roughly $640,000 – significantly less than in its neighbouring suburbs of Melville and Winthrop – meaning there’s substantial growth opportunities in the years to come.
Orelia
The southern suburb of Orelia has a median house price of $320,000 and rental yields around 6%, making it sought-out by savvy investors and first-home buyers looking to get a foot on the property ladder. The suburb has playgrounds and open green spaces, access to independent and government schools and fantastic shopping at Kwinana Marketplace. There are convenient public transport links, while commuters can enjoy an easy 30-minute drive into central Perth.
Ellenbrook
On the doorstep of the Swan Valley, Ellenbrook has seen significant development over the past few years to evolve into an award-winning master-planned community. The north-eastern suburb lies 30km from the Perth CBD and comprises a string of villages designed around a bustling town centre. Locals enjoy a spread of gourmet delights and outdoor adventure, combined with great playgrounds, shopping and education facilities. Housing here sits at an affordable $433,000 luring young families who continue to seek affordability, scenic surrounds and a strong sense of community.
Duncraig
The northern suburb of Duncraig is favoured for its idyllic coastal lifestyle, flanked by beautiful beaches but just 20 minutes’ drive from the CBD. This is a well-established neighbourhood with spacious properties, plentiful parks and access to top-rated schools. The median house price has jumped 13% over the past year, fetching $845,000, indicative of a high-demand market slated for growth. Duncraig has a strong community spirit, with village shops, cafes and fortnightly markets, making it a popular pick among young families.
Craigie
Just up the road from Duncraig, Craigie’s property has jumped more than 13% to a median house price of $540,000. It gives residents access to fantastic neighbourhood amenities, including pretty parkland, good schools and a leisure centre, with Westfield Whitford City just moments away. It’s close to the coast – with swimming at Mullaloo Beach – and roughly 20km from the CBD. While still relatively affordable, this is considered a key lifestyle pocket and is seeing an influx of both professionals and young families moving in.
Subiaco
For those with more cash to splash, the inner-western suburb of Subiaco has seen a whopping 19.8% annual growth, representing one of the most desirable pockets in the city. Renowned for its lifestyle amenity, ‘Subi’ is bounded by parkland and is home to popular shopping and dining strips, a vibrant arts scene and famous weekly farmers’ markets. A house here will set you back roughly $1.35 million, but investors can expect strong rental income of around $800 with a vacancy rate of just 1.79%.
Wellard
With annual growth of more than 15%, the suburb of Wellard lures buyers for its excellent infrastructure and community amenities. Roughly 40 minutes south of Perth, it gives residents access to good government schools, shopping precincts and recreation facilities. The medium house price sits at an affordable $425,000 with generally low vacancy rates, attracting a mix of households from established families to young adults. Built around Wellard Train Station, it’s an easy 35-minute train ride into the CBD.
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