Authored by the expert who managed and guided the team behind the Australia Property Pack
Yes, the analysis of Perth's property market is included in our pack
Where are the best places to invest in Perth right now? Is the CBD still the top pick, or are suburbs like Fremantle, Subiaco, and Joondalup gaining ground? What makes these locations attractive to both local and foreign investors?
We’re often asked these questions because we work directly with real estate agents, property developers, and clients who invest across the city. Our firsthand experience in these markets gives us unique insights into where the real opportunities lie. To save everyone from asking privately, we’ve written this article to share our knowledge broadly.
Our goal is to highlight the hottest markets in Perth and explain why they’re worth your attention in 2025.
If you have suggestions or want us to dive deeper into a specific area, let us know. You shoot an email, we answer within 24 hours.
1) Armadale is appealing to first-time buyers with its affordable entry prices and growth potential as the area develops
Armadale is catching the eye of first-time homebuyers thanks to its affordable housing market.
In 2023, the median house price in Armadale was $349,000, a bargain compared to other Perth suburbs like Brabham and Hocking, where prices soared to $465,000 and $530,000. This makes Armadale a smart choice for those stepping into the property market.
Armadale isn't just about low prices; it's also about growth. The area saw a 10.90% price increase in 2023, with a steady quarterly rise of 1.70%. This trend suggests that Armadale is not only affordable but also a promising investment for the future.
Infrastructure is a big part of Armadale's charm. The METRONET Armadale Line upgrades, featuring seven new train stations, are set to boost connectivity. Plus, new community facilities like sporting pavilions and theatres are popping up, making life here even more appealing.
These developments are turning Armadale into a vibrant community, enhancing the quality of life and adding value to the local property market. It's not just about buying a house; it's about investing in a lifestyle.
For first-time buyers, Armadale offers a unique blend of affordability and potential for growth, making it a wise choice for those looking to plant roots and watch their investment grow.
Sources: OpenAgent, REIWA, Minister for Infrastructure, Smart Property Investment
2) Subiaco is attracting interest with its blend of heritage and modern homes, driving high demand and rising prices
Subiaco is becoming a hot spot for homebuyers thanks to its unique blend of heritage and modern properties.
In recent years, especially in 2023 and 2024, Subiaco's property market has been on the rise. The median house price jumped by 23.93%, showing just how much people want to live here. This isn't just about buying; the rental market is buzzing too, with the median weekly rent for units hitting $595.
Why the rush? Well, there's not a lot of inventory, which makes Subiaco properties even more appealing. Real estate agents often point out that areas like Subiaco, with their mix of old-world charm and modern convenience, are exactly what buyers are after.
Subiaco's appeal isn't just about the homes; it's about the lifestyle. The area offers a vibrant community feel, with cafes, parks, and shops that make it a great place to live. This combination of lifestyle and property options is what keeps driving demand.
For those looking to invest, Subiaco is a smart choice. The high demand and limited supply mean that property values are likely to keep climbing. It's a place where you can enjoy the best of both worlds—heritage and modern living.
So, if you're considering buying a property, Subiaco should definitely be on your radar. It's a place where high demand is driving up prices, and the mix of homes offers something truly special.
Sources: REIWA, REIWA, Real Estate Investar
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Australia versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
3) Cannington is attracting investors with affordable homes and proximity to major shopping centers, offering strong rental returns
Cannington is a hotspot for investors thanks to its affordable housing and prime location near major shopping centers.
While the broader Perth market saw a jump in median house prices, Cannington remains a more budget-friendly option. For instance, Perth's median house price hit $665,000 in June 2024, marking an 18.8% rise from the previous year. In contrast, Cannington offers more affordable choices compared to suburbs like Viveash, which experienced a 40.9% increase to $620,000.
One of Cannington's biggest draws is its closeness to the Westfield Carousel Shopping Centre, a bustling hub that pulls in both locals and businesses. This proximity not only boosts property demand but also leads to higher rental returns. Renters find the area attractive due to these amenities, making it a sweet spot for investors eyeing good rental yields.
Adding to its appeal is the METRONET project, which is set to improve public transport and infrastructure. These enhancements will make Cannington even more accessible, likely attracting more residents and increasing demand for housing and rentals. This infrastructure boost is a key reason why Cannington is catching the eye of savvy investors.
With affordable housing, a strategic location, and ongoing infrastructure improvements, Cannington is shaping up to be a promising investment area. The combination of these factors makes it a compelling choice for those looking to invest in property.
Sources: REIWA, City of Canning, API Magazine
4) Balga is attracting investors with its affordable property prices and strong rental yields
Balga is catching the eye of investors thanks to its affordable property prices and strong rental yields.
In 2023, Balga stood out with a rental yield of 8%, making it one of the top spots for unit rental returns. This high yield is a magnet for investors, promising a solid return on investment. Plus, Perth's rental market is tight, with a vacancy rate hitting a 42-year low of 0.6% in December 2023, which means demand is outstripping supply, adding to Balga's allure.
Young people are flocking to Perth for its affordability and lifestyle, boosting rental demand in areas like Balga. This shift, along with Perth's economic growth, makes Balga even more attractive. Experts are optimistic about Perth's property market, and Balga is expected to ride this wave, offering potential long-term capital growth for investors.
Balga's property prices have historically been lower than other Perth suburbs, offering investors a chance to snag potentially underpriced properties. This affordability, combined with strong rental returns, makes it a compelling choice for those looking to invest in real estate.
As Perth continues to grow, Balga is likely to benefit from the overall economic development. The suburb's appeal is further enhanced by the demographic shift towards younger populations, who are drawn to the area for its lifestyle and affordability.
With the current trends and expert predictions, Balga is positioned as a promising investment opportunity, offering both immediate rental returns and the potential for future growth.
Sources: Smart Property Investment, Realestate.com.au, Domain
5) Midland is gaining attention for its strategic transport hub location and urban renewal projects
Midland is catching eyes lately, mainly because of its strategic location as a transport hub.
The buzz is largely due to the METRONET New Midland Station project, which is set to open by 2025. This new station will replace the old one, aiming to meet the growing transport needs of the region. It's all about making it easier for folks to get around, and that's a big deal for anyone considering a move here.
Midland's appeal doesn't stop at transport. The ongoing urban renewal projects are a game-changer. The State Government is pouring funds into transforming the city center, turning it into a vibrant gateway to the Swan Valley and Perth Hills. This has attracted nearly $1 billion in investment from both public and private sectors, promising to create 7,500 jobs. It's a magnet for businesses, residents, and tourists alike.
Public transport is getting a boost too, with the expansion of the Transperth network, including the Morley-Ellenbrook Line. This is enhancing connectivity, making Midland even more accessible. The rise in bus boardings from 2022-23 to 2023-24 shows that more people are hopping on public transport, likely because of these improved services.
All these factors are turning Midland into a key area for growth and development. The strategic location, coupled with these urban and transport upgrades, makes it a hot spot for potential property buyers. It's not just about getting from A to B; it's about being part of a thriving community.
For those eyeing property in the area, these developments mean more than just convenience. They signal a future of growth and opportunity, making Midland a smart choice for investment. The ongoing projects are reshaping the landscape, offering a blend of modern amenities and strategic advantages.
Sources: Public Transport Authority Annual Report 2023-24, Railway Technology, DevelopmentWA
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6) Kwinana is gaining attention for its affordable homes and capital growth potential with expanding industrial developments
Kwinana is quickly becoming a hotspot for affordable housing and potential capital growth.
In January 2024, homes in Kwinana were selling in a median of just nine days, a pace much faster than in previous months and years. This rapid turnover shows there's a high demand for housing in the area, making it a prime spot for buyers.
Kwinana stands out as one of the most affordable capital city regions in Australia. This affordability, along with its amenities and growth potential, makes it a magnet for first-home buyers and investors. Experts see Kwinana as a suburb with great potential for capital appreciation, both in the short and long term.
Adding to its appeal, industrial developments like the Kwinana Cobalt Refinery are boosting the area's growth. This project is crucial for manufacturing and exporting battery-grade cobalt, addressing a global minerals shortfall. Such developments are expected to strengthen the local economy and create jobs, making Kwinana even more attractive.
Sources: Affordable Hotspots in Australia, Kwinana Cobalt Refinery, Best Suburbs to Invest in Perth
7) Scarborough is gaining interest for its beachside lifestyle and redevelopment projects driving property prices up
Scarborough is becoming a go-to spot for those craving a beachside lifestyle.
In recent years, the area has seen a surge in property prices, with the median house price hitting $915,000 by October 2022. This jump is largely due to a 13.1% sales growth rate over the previous year, making it a hot market for potential buyers.
One major draw is the ongoing redevelopment projects, like the Scarborough Beach Redevelopment, which have transformed the area. The upgrades to the beachfront esplanade, public swimming pool, skate park, and playgrounds have made Scarborough a magnet for both locals and tourists.
Scarborough's charm is also amplified by media coverage that highlights its unique mix of natural beauty and outdoor activities. This has helped cement its status as one of the top beachside suburbs, attracting even more interest from potential homeowners.
The suburb's stunning coastline and beautiful beaches offer a relaxed coastal lifestyle, making it an ideal spot for those looking to escape the hustle and bustle of city life. The combination of these factors has made Scarborough a prime location for property investment.
Sources: Soho, Homely, The Property Tribune
8) Bassendean is gaining interest for its riverside charm and property appreciation potential with new infrastructure projects
Bassendean is gaining popularity thanks to its scenic riverside location and promising property market.
In recent years, property prices in Bassendean have been climbing, with the median house price hitting $775K by November 2024. This steady rise is catching the eye of potential buyers looking for a good investment.
The rental market is also buzzing, with a median weekly rent of $650 for a 3-bedroom house. This makes Bassendean attractive to both renters and investors, especially with a gross yield of 4.4% highlighting its potential for returns.
Infrastructure upgrades are a big part of Bassendean's growing appeal. The recently completed Bassendean Station cycling upgrade has made getting around easier, and the Town Centre Masterplan is set to bring exciting changes like a pedestrian-only zone and new community amenities.
These developments are not just about convenience; they’re boosting property values too. As the area becomes more accessible and community-focused, property appreciation is expected to continue, making it a hot spot for future growth.
With all these factors in play, Bassendean is becoming a sought-after location for those looking to invest in a vibrant, evolving community.
Sources: Bassendean Suburb Profile, Bassendean Station Cycling Upgrade, Town Centre Masterplan, Hot 100 Suburbs to Watch in 2025, Top Performing Northern Suburbs
We have made this infographic to give you a quick and clear snapshot of the property market in Australia. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
9) Inglewood is gaining interest for its charming character homes and city proximity, driving up property values
Inglewood is drawing in homebuyers with its charming character homes and close proximity to the city.
Over the past few years, the median house price in Inglewood has climbed to around $1.17 million by October 2024, showing just how much people want to live here. Real estate agents are seeing a lot of interest in these unique homes, which often sell quickly because of their special appeal. Buyers love the suburb's mix of historic charm and modern elegance, like the "Timeless Treasure" on 17 Dundas Rd.
Being just 5 km from Perth's CBD makes Inglewood a top pick for families and professionals. The suburb's popularity is also growing thanks to its lively community and local amenities. There's been a lot of investment in places like cafes, a library, and a recreation center, which really boosts the lifestyle here.
Inglewood's charm isn't just a local secret anymore. Media coverage and social media trends are shining a light on the suburb, adding to its rising property values. The area is becoming a hotspot, and it's easy to see why.
With its vibrant community and convenient location, Inglewood is a place where people want to put down roots. The combination of character homes and modern amenities makes it a standout choice for anyone looking to buy property.
Sources: REIWA, REIWA Suburb Profile, City of Stirling
10) Fremantle is thriving with its historic charm and strong rental demand from students and tourists
Fremantle is a city where historic charm meets modern innovation, attracting students and tourists alike.
Wander through Fremantle, and you'll see its history in the beautifully preserved architecture and heritage sites. These spots are a hit with visitors who love a good dose of culture and history. The city doesn't just rest on its laurels, though. Initiatives like Spacemarket are breathing new life into old buildings, turning them into lively co-working spaces that blend the past with the present.
Fremantle's rental market is buzzing, with occupancy rates soaring thanks to its prime location. The vacancy rate was a mere 1.8% in 2023, showing just how in-demand this area is. Its proximity to universities makes it a top choice for students looking for a place to stay that's close to their studies.
Tourism is another big draw for Fremantle. In the 2023/24 financial year, the city welcomed over a million visitor nights, both international and domestic. This influx underscores Fremantle's reputation as a must-visit destination. The local government is all in on promoting the city's cultural and historic gems, ensuring there's always something new for tourists and students to discover.
Fremantle's appeal isn't just about its past; it's about how the city is shaping its future. The blend of old-world charm and new-world opportunities makes it a dynamic place to live and visit. Whether you're a student looking for a vibrant community or a tourist eager to explore, Fremantle has something for everyone.
Sources: DLGSC, Empire Property, Economy.id
11) Victoria Park is thriving with its vibrant café culture and high rental demand from young professionals
Victoria Park is buzzing with a vibrant café culture and a strong pull for young professionals.
Over the past few years, the area has seen a 21% rise in median property prices, thanks to the influx of trendy cafés and restaurants. This culinary boom has not only attracted more buyers but also added a lively vibe to the neighborhood. Young professionals, especially those aged 25 to 34, are flocking here, drawn by the area's energetic atmosphere and café-rich streets.
Victoria Park stands out with a higher percentage of young professionals compared to Greater Perth. This demographic is known for seeking out vibrant neighborhoods, and Victoria Park fits the bill perfectly. The café culture here is not just a trend; it's a lifestyle that resonates with this age group, making the area even more appealing.
The rental market in Victoria Park is thriving, offering substantial rental yields for both houses and units. The low vacancy rate is a clear sign of high demand, making it a hotspot for young professionals looking for urban living. This demand is driven by the area's lively environment and the convenience of having everything at their doorstep.
For those considering an investment, Victoria Park's rental market is a goldmine. The strong rental demand ensures a steady income stream, while the area's popularity among young professionals promises long-term growth. It's a win-win for both investors and renters who want to be part of this dynamic community.
With its café culture and strong rental appeal, Victoria Park is more than just a place to live; it's a lifestyle choice. The area's transformation into a vibrant hub has made it a top pick for those seeking a lively, urban experience.
Sources: PWC Realty, Parliament WA, Urbis
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12) Joondalup is thriving as a regional city center with educational institutions boosting property demand
Joondalup is quickly evolving into a vibrant regional city center.
Thanks to the Joondalup Activity Centre Plan (JACP), the area is seeing significant growth. This plan is not just a piece of paper; it's actively shaping the city. By 2024, the population in the JACP area is expected to hit around 4,419 residents, and that's just the beginning as the city continues to mature.
Education is a big draw here, with institutions like Edith Cowan University (ECU) playing a crucial role. While we don't have the exact enrollment numbers for 2023 and 2024, the presence of such a major university is a game-changer. It means increased demand for housing as students, faculty, and staff all need places to live.
Infrastructure is another piece of the puzzle. Projects like Boas Place are turning Joondalup into an economic and innovation hub. This isn't just about new buildings; it's about creating a space where businesses and residents want to be. The government's investments, guided by State Planning Policy 4.2, are making Joondalup more connected and accessible.
These developments are not happening in isolation. They're part of a broader strategy to make Joondalup a more appealing regional center. As a result, we're likely to see more residents and businesses flocking to the area, which will naturally drive up property demand.
So, if you're considering buying property, Joondalup is a place to watch. With its growing population, educational institutions, and infrastructure projects, it's a city on the rise. Property demand is only going to increase as more people discover what Joondalup has to offer.
Sources: Joondalup Activity Centre Plan, Boas Place – Transforming the Heart of the Joondalup City Centre
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility.