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Buying a property in Perth: a complete guide

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property investment Perth

Yes, the analysis of Perth's property market is included in our pack

Considering buying a nice property in Perth? You're not alone!

Many people are captivated by Perth's outdoor lifestyle and dream of owning a waterfront property or a modern apartment in this city.

Is it a wise investment, though? Are property prices increasing in Perth? Is it expensive? Is it wiser to buy property in the CBD or Fremantle? And the taxes? Where are the best rental yields?

We've got it all sorted. No worries.

The BambooRoutes team knows this market inside and out. As a matter of fact, we've compiled all our findings in one pack. Get it now.

In the lines below, we'll provide you with helpful information.

How is the real estate market in Perth?

Confused about the property market's status? Everyone has their views. We prefer data and statistics over opinions for accurate assessments.

Types of properties

In Perth, there are various types of properties available for sale to cater to different needs and preferences.

These property types include houses, apartments, townhouses, and land.

Houses offer standalone living spaces with a yard, while apartments provide a more compact living arrangement within a larger building. Townhouses are a hybrid between houses and apartments, offering individual units in a multi-level structure.

Additionally, vacant land is available for those interested in building their own custom home.

Whether you seek a spacious family house, a low-maintenance apartment, a convenient townhouse, or an empty lot to build your dream home, Perth's real estate market offers a diverse selection of properties for potential buyers.

Should you buy or rent?

(In case you want it for yourself, not for rental purposes)

If Perth is your city of choice, you may be thinking about the advantages of buying versus renting a property in this vibrant Australian metropolis.

Usually, buying is better than renting in Perth due to its low interest rates and increasing property values.

However, should flexibility be your priority, renting is the best option.

Property prices in Perth

On average, according to the last data from CoreLogic, buying a property in Perth would cost you around $6,000 per square meter.

Obviously, there is a significant spread. The value of a square meter for a beachfront property in Perth might differ from a house in Subiaco. You'll get a more detailed in our pack for buying property in Perth and in Australia.

To give you a better idea, it is 3.2 times less than the prices in the center of New York.

Also, housing prices in Perth are 44% cheaper than in Sydney.

The most expensive neighbourhoods in Perth are probably Subiaco, Nedlands, Peppermint Grove and Dalkeith, while the cheapest are likely to be Armadale, Gosnells and Rockingham.

Perth Property Price per Square Meter


First and foremost, we have to acknowledge that Australia is, today, one of the most stable countries in the world. The last Fragile State Index that has been reported for this place is 22.7.

Don't overlook this while weighing the pros and cons of buying a property in Perth.

Also, according to the International Monetary Fund (IMF), Australia's economy is expected to soar by 8.8% in the coming 5 years, resulting in an average GDP growth rate of 1.8%.

If you want to invest in real estate in Perth it's a good thing because it means people are getting richer and then housing prices are likely to increase.

Also, in Australia, the average GDP per capita has changed by 4.0% over the last 5 years. The growth, although minimal, is still present.

These are positive signals showing that property prices in Perth might increase in 2024 and during the coming years.

Looking for more updated data? We've done a big-picture study to find out if it's a good idea to purchase property in Australia right now.

Buying property in Perth

Buying real estate in Perth can be difficult due to the lack of reliable and up-to-date information available for potential buyers. That's why we have created the pack to buy property in Perth and in Australia.

Buying process

In our pack, we've laid out all the steps involved in the buying process, including the required documents, taxes to be paid, and guidance on finding properties.

Now, we're giving you a more straightforward version to help you grasp the information more easily.

This is the step-by-step process to purchase a property in Perth:

  1. Obtain a Foreign Investment Review Board (FIRB) approval if you're a foreign buyer.
  2. Check the Certificate of Title and Plan to confirm property details.
  3. Organize a Building Inspection Report to assess the property's condition.
  4. Make an offer using the Offer and Acceptance contract, which is standard in Western Australia.
  5. Negotiate the price and settlement terms with the seller.
  6. Engage a settlement agent or conveyancer to handle the legal and financial aspects.
  7. Apply for a property valuation to determine its market worth.
  8. Get loan pre-approval from a bank or mortgage lender.
  9. Exchange the contracts and pay the deposit (usually 5-10% of the purchase price).
  10. Lodge a Transfer of Land document with the Landgate authority.
  11. Complete the settlement process by paying the remaining balance and applicable fees.
  12. Receive the keys and Land Title once settlement is finalized.

Also, if you're not from the country, you might want to check our article on how to buy property as a foreigner in Australia.

Make a profitable investment in Perth

Better information leads to better decisions. Save time and money. Download our guide.

buying property in Perth

Where to find a property

Check out these websites to find properties in Perth:

  • - A comprehensive platform for real estate services, providing property listings, mortgage information, suburb research, and the latest property news.
  • Domain - A property portal offering a wide range of real estate services, including property listings, home loans, new developments, and news updates.
  • Flatmates - Australia's largest share accommodation website, connecting individuals looking for shared homes or flatmates.
  • Allhomes - A real estate website providing various property services, including buying, renting, selling, and commercial properties.
  • Realcommercial - The leading destination for commercial property, offering a wide range of listings, investment opportunities, news, and agency information.

Also, know that we have included contacts of real estate agencies, property lawyers, moving companies, expats communities and more in our pack for buying property in Australia.

What you can get

As mentioned before, the average price per sqm in Perth is $6,000. A 1-bedroom property, which is 60 square meters in size, would cost approximately $360,000, and a 2-bedroom property, which is 85 square meters in size, would cost approximately $510,000.

However, prices will differ based on the attributes of the property and its specific location.

Premium property locations in Perth often come with higher prices. A house in Cottesloe might cost you around $1,130,000, but a residence in Subiaco could be priced at $1,350,000.

Still, some spots are more wallet-friendly. You may find a condominium in Armadale for $200,000, or one in Midland priced only at $160,000.

We give more details about property types and areas in our full pack for buying property in Australia.

Common mistakes

Here are the main pitfalls when buying a property in Perth, Australia:

  • Underestimating the impact of extreme weather conditions, like bushfires and heatwaves.
  • Overlooking potential issues with termites, which can be common in Australian properties.
  • Neglecting to consider the property's proximity to wildlife reserves, leading to encounters with native animals.
  • Failing to account for strict water usage restrictions due to the country's arid climate.
  • Overlooking the risks associated with coastal properties, such as erosion and storm damage.
  • Not being aware of specific local regulations for heritage-listed properties, limiting renovation options.
  • Ignoring potential complications with Aboriginal land rights or cultural heritage considerations.
  • Neglecting to investigate potential restrictions on foreign buyers, affecting eligibility and investment plans.

We don't want this to happen to you, so we have included a full checklist for your property investment in our pack of documents. Avoid these mistakes and save a lot of money.

real estate Australia

Everything you need to know is included in our Australia Property Pack

Living in Perth

Living in Perth is an ideal choice for those looking for a relaxed and laid-back lifestyle with plenty of sunshine, beaches, and outdoor activities.

Cost of living

The cost of living in Perth is generally considered to be lower than other major cities in Australia, making it an attractive option for expats and locals alike. It has a moderate cost of living, with prices for basic goods and services being slightly lower than in other major Australian cities.

Here are some examples to better understand the cost of living in Perth, Australia:

  • Rent for a one-bedroom apartment in the trendy neighborhood of Northbridge: $2,000 per month.
  • A meal at a local restaurant with "Barramundi," a popular Australian fish: $35.
  • Monthly "SmartRider" card for public transportation: $90.
  • Utilities (electricity, water, heating) for a small apartment in Subiaco: $130 per month.
  • A cup of "Flat White," a popular Australian coffee style: $4.50.
  • Ticket to the "Perth Mint," a historical attraction: $20.
  • Monthly membership at a popular fitness chain like "Jetts Fitness": $60.
  • A bottle of "Emu Export," a well-known Australian beer: $6.


We like to show information in an easy-to-understand way. So, we made a table that lists the different neighborhoods in Perth. For yields, prices and rents, check our property pack.

Neighborhood Description Strengths Weaknesses


Northbridge is a vibrant and diverse neighborhood known for its cultural scene, entertainment options, and bustling nightlife.

Rich cultural offerings, lively atmosphere, and proximity to the city center.

Potential noise and crowds, limited green spaces.


Subiaco is an upscale neighborhood with tree-lined streets, trendy boutiques, and charming cafes, making it a popular spot for shopping and leisure.

Great shopping and dining options, well-maintained streets, and excellent public transport connectivity.

Higher cost of living, limited affordable housing options.


Fremantle is a historic port city with a bohemian vibe, offering a mix of heritage buildings, art galleries, and a lively waterfront.

Rich cultural heritage, artistic community, and picturesque waterfront views.

High tourist traffic, limited parking availability.

Perth CBD

Perth CBD is the central business district and commercial heart of the city, featuring skyscrapers, shopping malls, and cultural institutions.

Major business hub, abundant shopping and dining options, excellent public transport links.

High property prices, busy during weekdays and quieter on weekends.


Leederville is a trendy and lively neighborhood with a mix of cafes, bars, boutiques, and a popular cinema.

Hipster vibe, diverse dining choices, and good public transport accessibility.

Can be noisy at night, limited parking spaces.

Mount Lawley

Mount Lawley is an artistic and eclectic neighborhood filled with vintage stores, art galleries, and a thriving cafe culture.

Artistic community, great cafes and restaurants, leafy streets.

High demand for housing, limited public transport options.


Scarborough is a coastal suburb known for its beautiful beaches, beachfront bars, and water sports opportunities.

Stunning beaches, laid-back atmosphere, and coastal lifestyle.

Can be crowded during peak seasons, limited public transport connections.

Victoria Park

Victoria Park is a lively neighborhood with a diverse food scene, multicultural atmosphere, and proximity to the Swan River.

International dining options, riverfront activities, and good public transport connectivity.

Some areas may be noisy, traffic congestion during peak hours.

Life in Perth

The economy in Perth is largely driven by the services, tourism, and natural resources sectors. Perth has a strong and diverse economy, benefiting from its location in the resource-rich state of Western Australia.

What expats usually like the most in Perth is the laid-back lifestyle, with plenty of outdoor activities such as surfing, swimming and exploring the nearby national parks. They also appreciate the vibrant cultural scene with its many cafes, restaurants and bars.

Unfortunately, we can't say there is no crime in Perth (the crime rate index is around 42, which is not so favorable. Common crimes in Perth include burglary, theft, drug-related offences, assaults, and other violent crimes, which are mainly perpetrated by the local population and are not typically experienced by expats.

A good point for a property investor - Perth has a rapid transit system known as the Transperth network, which includes buses, trains, and ferries.

Access to healthcare in Perth is very good, with a Healthcare Index of 69. Good healthcare facilities is great for real estate.

Finally, it is worth noting that Perth has a couple of universities with a global ranking: The University of Western Australia, Curtin University, Edith Cowan University and Murdoch University.

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Renting out in Perth

If your intention is to buy a property not for personal use, but to rent it out and create income, then this section is for you.


Tenant Profiles in Perth

According to the data reported by Wikipedia, the home ownership rate in Australia is 66%, which is average.

It means that, if you decide to buy and rent out in Perth, there will be a good number of people who can become your potential tenants.

If you decide to buy and rent out to long-term tenants, you should target students, young professionals, and families looking for an affordable and convenient lifestyle in Perth. Additionally, retirees and people looking for a holiday home may also be interested in renting out a property in Perth.

Here is a little summary table we've made for you.

Property type and area Profiles of potential tenants What they are looking for Expected monthly rent in $

Apartment in Perth CBD

Professionals, students

Central location, access to amenities

$1800 - $3000

House in Subiaco

Families, young professionals

Leafy suburb, proximity to CBD

$3000 - $5000

Unit in Fremantle

Youthful professionals, artists

Marine atmosphere, vibrant arts scene

$2200 - $3500

Townhouse in Joondalup

Families, students

Nearby university, shopping centers

$2500 - $4000

Apartment in Scarborough

Beach lovers, young professionals

Coastal lifestyle, ocean views

$2000 - $3500

House in Mount Lawley

Artists, professionals

Trendy suburb, artsy culture

$2800 - $4500

Unit in Victoria Park

Students, young professionals

Close to city, diverse dining

$1800 - $3000

Rental yields

Nowadays, rental yields in Perth are usually below 5%. It's not much. A good rental yield is usually around 7% or higher. Maybe, you knew it already.

Investing in properties in areas with higher demand for rental accommodation, such as inner-city suburbs and areas close to universities and public transport, tend to give the best rental yields in Perth. This is because these areas are more attractive to tenants, resulting in higher occupancy rates and increased rental income.

For further explanation and a more detailed breakdown, you can check the reports and analyses we have made.


You could also decide to rent short-term to working professionals who have been relocated to Perth for a short period of time, or people visiting Perth for business or leisure. Tourists, students and young professionals are also potential tenants for short-term rental in Perth.

If you decide to go with that option, look for properties in Subiaco, Northbridge, Fremantle, and Scarborough. These areas are popular with short-term tenants due to their close proximity to the city and public transport links.

Currently, there are approximately 4,000 active Airbnb listings in Perth, reflecting a highly dynamic and bustling short-term rental market. The average daily rate stands around $138.

You have the opportunity to generate a nice additional income stream then. Based on feedback from online testimonials and data analytics platforms such as AirDNA, Guesty, and Inside Airbnb, people who offer short-term rentals in Perth can make around $2200 per month. Also, the average occupancy rate is estimated at 93%.

Is it worth buying real estate in Perth then?

Buying a property in Perth can be a smart move, but it really boils down to your specific situation. If you're looking for a place to call home, Perth offers a relaxed lifestyle with beautiful beaches and outdoor activities.

Plus, with its comparatively lower property prices than cities like Sydney, it's more affordable for first-time buyers. Additionally, the stable Australian economy and projected GDP growth suggest the potential for property value appreciation, making it an attractive long-term investment.

And if you're thinking of renting out the property, Perth's diverse tenant profile, including students, young professionals, and families, can provide a steady rental income stream.

However, buying property in Perth might not be the right choice for everyone. If you're only planning a short-term stay, renting is more flexible and cost-effective. Investors seeking high rental yields might find better options in other Australian cities. Perth's rental yields are generally below 5%, which may not meet the expectations of risk-seeking investors.

Moreover, navigating the Perth property market, especially for foreign buyers, can be challenging due to a lack of reliable information. Ignoring local factors like extreme weather, termites, coastal risks, and regulatory issues can lead to costly mistakes.

So, while Perth offers compelling opportunities, careful consideration of your goals and circumstances is essential before taking the plunge into the property market.

Make sure you understand the real estate market in Perth

Don't rush into buying the wrong property in Australia. Sit, relax and read our guide to avoid costly mistakes and make the best investment possible.

real estate market Perth

The content provided here is for informational purposes only and does not imply endorsement or advice. While we strive for accuracy, we do not guarantee the completeness or reliability of the information, including text, images, links, or other elements in this material. Following the content and analyses presented here does not assure specific outcomes. For guidance tailored to your individual circumstances, it is recommended to consult with a professional, such as a lawyer, accountant, or business advisor.