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Banksia Grove suburb profile

Banksia Grove is a vibrant suburb located in the northern corridor of Perth, Western Australia, approximately 27km from the CBD. Known for its family-friendly atmosphere, the suburb offers a mix of modern housing developments and natural bushland, providing a balanced lifestyle. Banksia Grove features several parks, schools, and shopping facilities, catering to the needs of its growing community. The suburb's design emphasizes green spaces and community connectivity, making it an attractive option for families and young professionals. With ongoing development and a strong sense of community, Banksia Grove continues to thrive as a desirable residential area.

Banksia Grove property market performance

Banksia Grove's property market has experienced significant growth over the past 12 months, with house values increasing by 19.6%. The current median house price stands at $880,000, reflecting strong demand in the area. Notably, there have been no unit sales or price changes, indicating a lack of activity in the unit market.

In terms of sales activity, 42 houses have been sold in the past 12 months, with houses spending a median of just 8 days on the market, highlighting a brisk pace of sales. The absence of unit sales suggests a focus on the housing market in Banksia Grove.

The rental market for houses has also seen growth, with average rents increasing by 5.9% over the last 12 months, reaching $720. This rise in rental prices further underscores the strong demand for housing in the suburb.

HousesUnits
Median price
Past 3 months
$875KN/A
Change in value
Past 12 months
20.7%N/A
Sold
Past 3 months
39N/A
Median days on market
Past 12 months
8N/A
Average rent
Past 12 months
$725N/A
Change in rent
Past 12 months
6.6%N/A

5 year median price trend for houses and units

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Banksia Grove demographics

Banksia Grove, located in the northern suburbs of Perth, is a family-friendly community known for its modern amenities and growing infrastructure. With a population of 11,351 and a median age of 30, it is a youthful suburb that attracts young families and professionals seeking a balanced lifestyle. The suburb's proximity to natural reserves and parks makes it an appealing choice for those who enjoy outdoor activities and a sense of community.

The housing market in Banksia Grove is predominantly owner-occupied, with a significant 68.7% of properties owned with a mortgage. This reflects the suburb's appeal to first-time homebuyers and families looking to establish roots. Only 7.9% of properties are owned outright, while 23.3% are rented, indicating a stable yet accessible housing market. The median total household income of $1,956 per week suggests a comfortable standard of living for its residents.

Family dynamics in Banksia Grove are diverse, with 54.1% of households being couple families with children, highlighting the suburb's family-oriented nature. Additionally, 23.5% of households are couple families without children, and 21.1% are one-parent families, showcasing a mix of family structures. The presence of schools, shopping centers, and community facilities further enhances its attractiveness as a suburban haven for families and young professionals alike.

Banksia Grove infrastructure, key developments and investment opportunities

Banksia Grove continues to mature as a master-planned community, with its district centre planning focused on expanding commercial, employment and entertainment options, which is likely to support both local jobs and long-term property demand.[4] The established Banksia Grove Village shopping hub and surrounding parks and community facilities enhance day-to-day convenience and walkability, reinforcing the suburb’s appeal for families and first-home buyers.[1][4][7]

Local education is a key drawcard, with Banksia Grove Primary School and other nearby schools underpinning steady interest from young families and supporting stable buyer and rental demand.[4][9] No major new transport projects have been announced specifically for Banksia Grove, but existing road links to Joondalup and employment nodes, combined with ongoing infill and community development, suggest continued gradual strengthening of the suburb’s livability and property market fundamentals.[4]

Banksia Grove rental market trends

The rental market in Banksia Grove has experienced moderate growth, with house rents increasing by 5.9% over the past year to $720 per week. However, there is no data available for unit rents, indicating a potential lack of unit availability in the area. Banksia Grove continues to attract interest due to its family-friendly environment and proximity to local amenities.

Suburbs near Banksia Grove

Some popular suburbs near Banksia Grove include:

  • Carramar: Known for its spacious parks and family-friendly atmosphere, Carramar is located directly south of Banksia Grove.
  • Tapping: Featuring modern residential developments and excellent schools, Tapping is situated to the southeast of Banksia Grove.
  • Mariginiup: Known for its rural charm and large properties, Mariginiup lies to the northeast of Banksia Grove.
  • Ashby: Offering a mix of new housing and community facilities, Ashby is located to the south of Banksia Grove.
  • Sinagra: Known for its peaceful residential areas and proximity to nature reserves, Sinagra is situated to the southwest of Banksia Grove.

How does Banksia Grove compare to nearby suburbs?

  • Median house prices: Banksia Grove’s median house price is 120.4% higher than Mariginiup’s.
  • House price growth: Over the past 12 months, house prices in Banksia Grove have grown 3.1% higher than in Carramar.
  • Selling speed for houses: Properties in Banksia Grove are selling 11.1% faster than in Tapping.
  • House price growth: Over the past 12 months, house prices in Banksia Grove have grown 23.6% lower than the average rate of growth across Perth.

Common questions about Banksia Grove

  • Is Banksia Grove a nice place to live?

    Banksia Grove is a delightful suburb that offers a harmonious blend of modern living and natural beauty, making it a charming place to call home. With its peaceful environment and strong sense of community, it is particularly appealing to families and young professionals who value a balanced lifestyle. The suburb is known for its lush green spaces and parks, providing ample opportunities for outdoor activities and relaxation. The presence of local schools and shopping facilities ensures that residents have easy access to essential amenities, contributing to the overall livability of the area.

    The suburb's family-friendly vibe is complemented by its safe and welcoming atmosphere, making it an ideal choice for those looking to settle down. While Banksia Grove may not offer the bustling nightlife of inner-city areas, it compensates with a serene and community-oriented lifestyle. The ongoing development in the area promises to enhance its infrastructure and amenities, further boosting its appeal to families and first-time homebuyers.

    However, living in Banksia Grove does come with some trade-offs. The suburb is situated approximately 27 kilometers from Perth's CBD, which might be a consideration for those who commute to the city for work. Although there are no major new transport projects announced specifically for Banksia Grove, existing road links to nearby Joondalup and other employment hubs provide reasonable connectivity. Overall, Banksia Grove offers a wonderful suburban experience with a focus on community, nature, and family life, making it a lovely place to live for those who prioritize these values.

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  • Is it expensive to live in Banksia Grove?

    Living in Banksia Grove can be considered expensive, especially when you look at the housing market. The median house price in Banksia Grove is currently $880,000. This is quite substantial when you compare it to the average household income in Greater Perth, which is around $102,000 per year or approximately $1,956 per week. With these figures in mind, buying a house in Banksia Grove would take a significant chunk of an average household's income, making it less affordable for many.

    Renting in Banksia Grove also presents a financial challenge, with the average rent for houses being $720 per week. This is a considerable expense relative to the median weekly household income. While there are no unit prices or rents to compare, the high cost of housing and rent indicates that living in Banksia Grove might stretch the budget for those earning an average income in the area.

    Overall, if you are thinking of living in Banksia Grove, it's important to carefully evaluate your financial situation. While the suburb offers a pleasant lifestyle, the cost of housing is a significant factor to consider, especially when compared to the average earnings in Greater Perth.

    Disclaimer: To assess whether a suburb is considered expensive, we’ve looked at mortgage and rental costs as a proportion of the average local salary. That said, everyone’s financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.
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  • Is Banksia Grove a good place to invest?

    Banksia Grove is showing promising signs as a potential investment hotspot, especially for those interested in the housing market. Over the past year, the suburb has experienced a significant 19.6% increase in median house values, indicating strong demand and a healthy growth trajectory. This kind of growth suggests that the area is becoming increasingly desirable, likely due to its appealing lifestyle and amenities.

    While the unit market hasn't seen the same level of growth, with no change in median values or rent, the housing market's performance is a strong indicator of the suburb's overall potential. The 5.9% increase in house rent further supports the idea that Banksia Grove is attracting more residents, which is always a good sign for investors looking for rental income. The suburb's family-friendly environment and ongoing development make it an attractive option for both renters and buyers.

    Overall, Banksia Grove offers a compelling opportunity for those looking to invest in a suburb with strong growth in house values and rental demand. While the unit market remains stable, the housing sector's performance suggests that Banksia Grove is on the rise, making it a suburb worth considering for investment.

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Choose the right real estate agents in Banksia Grove

Choosing the right real estate agent in Banksia Grove can have a big impact on your sale. While there are 72 real estate agents working in the suburb, but just 5 of them were responsible for 44.6% of all property sales over the past year, showing a strong footprint and track record in the area.

Commission rates typically range from 1.5% to 2.79%, depending on the agent and what’s included. Comparing both performance and fee structures can help you find someone who's well-suited to your needs, and set them up for a successful result.

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