The Australian housing market is making news across the world. Even though there is talk of a cool off, the market is still worth your time.
Suppose you are thinking of investing in or moving near one of the country’s fabulous capital cities. In that case, you will not find better options and impressive growth rates than in and around Western Australia’s capital, Perth.
Property analysts expect growth in the Perth housing market due to low-interest rates and boom-like conditions. When comparing equivalent suburbs of Westminster near Perth and Arncliffe, outside of Sydney, homes in Westminster prices are roughly one million dollars less than those in Arncliffe.
While you can find plenty to like about the suburbs near Perth, we have compiled a list of seven must-see Perth suburbs.
A 75 per cent increase in sales volumes in 2021 makes Madeley a hot suburb of Perth.
The Real Estate Institute of Western Australia (REIWA) projects Madeley will continue to do well. In addition to the increase in sales volume, the suburb experienced a rise in prices of 6 per cent in the same year. The median property value is $615,000.
Madeley is a great suburb for those looking for investment property. Houses rent for $500 a week with a rental yield of 4.4 per cent. Units rent for $450 a week with a rental yield of 5.9 per cent.
With a population of around 6,000 people, the area has a welcoming feel. There are plenty of leisure activities and green spaces to enjoy. Being 20 km from Perth is not a problem for commuters. Madeley is on the Whiftords train line, and there is a bus service to Perth’s CBD. Good schools and convenient shopping round out this family-oriented suburb.
The suburb of Wellard’s 80 per cent jump in sales for 2021 has it firmly on REIWA’s radar with expectations of more prosperous times ahead. With a 4 per cent price increase and a median property value of $415,000, Wellard holds excellent potential for future gains.
Homes lease for $420 a week with an annual return of 5.3 per cent. Units rent for $350 a week with an annual rental yield of 6.9 per cent.
Approximately 9,000 people call Wellard home. The area was once rural but has developed recently. Quality schools, leisure activities and the proximity of the Leda Nature Preserve give a sense of community to the suburb. About 35 km from the Perth CBD, residents can easily access the Perth-Mandurah rail line.
Northwestern suburbs are rapidly growing in popularity with homebuyers and investors alike. Alkimos is no exception. Located 38 km from Perth’s CBD, the suburb has a 78 per cent increase in sales in 2021. The 6 per cent price increase led Alkimos to a median property value of $430,000.
Houses in Alkimos rent for $420 a week with an annual rental yield of 5.2 per cent. Units rent for $370 a week and have an annual rental yield of 5.3 per cent.
It is worth noting that the proposed and new development of Alkimos, including a rail line, schools, and shopping centres, has had a significant influence on the suburb’s growth and popularity. Adding the necessary elements to put Alkimos on track to becoming a self-sufficient suburb promises substantial future gains.
Alkimos has the bonus of kilometres of unspoilt beaches. Additional leisure areas and good schools (with more to come) give the suburb a clear advantage over other similarly priced regions that do not neighbour the Indian Ocean.
Located in the Shire of Mundaring, Darlington has the undeniable feeling of an early 20th-century village. The 3,000 plus residents are friendly and civic-minded, making Darlington welcoming and vibrant.
The suburb enjoyed a 42 per cent increase in median house sales, bumping the average price to $800,000. Rentals go for $475 a week, and Darlington has amenities to attract interested parties.
Darlington is 20 km away from Perth CBD and has bus service and access to the train at the Midland Train Station. Quality schools, leisure and green spaces and the Glen Forrest Shopping Centre make Darlington a great place to invest or put down roots.
One of the newer southern suburbs, Treeby, is 20 km from Perth CBD. Being freshly on the rise means that the suburb is an excellent place to invest or purchase a home.
The suburb is enjoying growth, and the population of 3,000 plus is expected to rise shortly. The median price for a home is $622,000, with a 15.6 per cent price increase. The average rental is $528 per week.
Treeby has a friendly, vibrant atmosphere and a strong, close-knit community. The area boasts great schools, green spaces and family-oriented fun at the Calleya Trampoline Park with slides, swings, and climbing frames. It is convenient to the Cockburn Gateway, so 170 shops are within easy reach.
6. Seville Grove
The southeastern suburb of Seville Grove is the focus of many investors and homebuyers. It boasted an 89 per cent increase in sales volume in 2021, and forecasts predict the 10,000 residents can expect continued growth.
Affordability is one of the keys to Seville Grove’s rapid sales increase. The median home price is $355,000. Houses rent for $400 a week with an annual rent yield of 5.8 per cent. Units go for $335 a week with a yield of 6.7 per cent.
The suburb is 24 km from Perth CBD, and bus service runs to the Rockingham Station. Seville Grove is prized for its friendly neighbourhoods, lovely green spaces, and great schools.
The small suburb of Woodlands has shown an increase in the median home price of 42.47 per cent over the last year. Capital gains for investors in the region have shown the most significant growth in approximately five years.
The median home price is $1,300,000. Home rentals are going for $593 a week with a return of 2.37 per cent.
Woodlands is a picturesque luxury suburb with a warm community feel. Located just 8km from Perth CBD, the suburb’s 4,000 plus residents enjoy green spaces, the best amenities, excellent schools and train service from the Stirling or Glendalough stations.
As the capital city with the best home prices, Perth has something to offer everyone. Whether you are investing, would like to get a home near Perth’s CBD, or prefer a suburb a little farther away from the city, there is no shortage of fantastic listings near Perth. If you are not quite sure where to go from here, reach out to Quantum Finance to speak with Perth’s leading mortgage brokers.