Jenna Popperwell Perth stands out as a prime location for property investment in Australia for several reasons. It continues to boast price growth yet remains one of the most affordable capital cities (Source), providing a unique combination of growth potential and accessible entry points for investors (lower entry costs compared to other major cities). Additionally, other areas in WA, including regional locations such as Geraldton and Bunbury are showing increased growth and return on investment.
#23 Most Liveable City in the World
Perth is ranked as Australia’s third most liveable city, and 23rd globally, in Oxford Economics Global Cities Index 2024 (Source). Perth performed consistently well across all categories in the index; one of Perth’s most valuable assets is its performance in the Environmental category, where it ranks highly due to its excellent air quality and low emissions intensity.
Price Growth
While there was price growth across all of Australia, Perth boasts the strongest growth of 0.73% however remains the 3rd most affordable capital city in Australia (behind Hobart and Darwin). In May, Perth recorded a vacancy rate of just 0.5% (Source), highlighting the strong demand for rental properties. Homes priced under $1,000 took a median of 15 days to lease, and in some suburbs with a median dwelling rent below the current Perth median of $649, homes leased in 10-11 days over the quarter. Demand remains strong in the more affordable price brackets, while in the mid-range, numbers at home opens are declining in some suburbs; however, multiple applications are still being received.
Where to Invest
Experts say that there are several hotspots in WA; Armadale, Balga, Geraldton, and Bunbury.
Armadale has been one of the fastest-growing areas. Investors are flocking here thanks to reasonable property prices and a booming rental market.
Balga despite its proximity to the city, maintains a cozy community feel with a super low vacancy rate and rising rents. The recent upgrades to Balga TAFE are adding to its allure, promising even more growth in the area. It’s becoming a go-to spot for savvy investors looking to capitalise on the upward trend.
Regional WA is also performing. In Bunbury’s Carey Park there has been a surge in property values and rents, making it a solid choice for both homeowners and investors. With its strategic location and diverse economy, Bunbury offers a balanced lifestyle with ample growth opportunities.
Geraldton, known for its stunning coastline and rich history, is another regional gem. The city has a stable property market with potential for growth, making it an attractive option for investors.
Whether you’re eyeing a home or looking to expand your property portfolio, these WA locations are worth keeping an eye on—they’re not just growing; they’re thriving.
For more information for Perth property investment, get in touch with the Real People at Real Property WA
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