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Belmont suburb profile

Belmont is a vibrant suburb located just 7km east of Perth's CBD, known for its convenient location and diverse amenities. It offers a mix of residential, commercial, and recreational spaces, making it an attractive area for families and professionals. Belmont is home to the popular Belmont Forum shopping centre, providing a wide range of retail and dining options. The suburb is well-connected with public transport and major roads, ensuring easy access to the city and surrounding areas. With its parks, schools, and community facilities, Belmont provides a balanced lifestyle with urban conveniences and suburban tranquility.

Belmont property market performance

Current median dwelling price$732,500Past 3 months

Property growth+18.8%Past 12 months

Belmont’s property market has experienced significant growth over the past 12 months, with house values increasing by 19.7%. The current median house price stands at $990,000. Although unit values have also risen by 13%, the median unit price is not available, indicating limited data or sales in this category.

Sales activity has been moderate, with 29 houses and 5 units sold over the last 12 months. Properties are moving quickly, with houses spending a median of just 13 days on the market, and units slightly faster at 12 days, suggesting strong demand.

The rental market in Belmont has also seen positive changes, with average rents for houses increasing by 7.4% to $750, and units rising by 8.3% to $650 over the past year, reflecting a robust rental demand in the area.

HousesUnits
Median price
Past 3 months
$910KN/A
Change in value
Past 12 months
21.6%16.0%
Sold
Past 3 months
277
Median days on market
Past 12 months
1312
Average rent
Past 12 months
$750$650
Change in rent
Past 12 months
7.1%8.3%

5 year median price trend for houses and units

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Belmont demographics

Belmont, located in the eastern suburbs of Perth, is a vibrant community known for its blend of residential charm and urban convenience. With a population of 6,959, Belmont offers a balanced lifestyle for its residents. The median age of 36 suggests a mature community, with a mix of young families and established professionals who appreciate the suburb's proximity to the city while enjoying a quieter suburban environment.

The suburb's housing landscape is diverse, with 45.8% of properties being rented, indicating a significant portion of the population prefers the flexibility of renting. This is complemented by 22.2% of homes owned outright and 32.0% owned with a mortgage, reflecting a stable community with a mix of long-term residents and new homeowners. The median total household income of $1,557 per week aligns with the area's appeal to middle-income families and professionals.

Family dynamics in Belmont are varied, with couple families with children making up 37.1% of the population, while 42.4% are couple families without children. One-parent families account for 16.8%, highlighting the suburb's inclusivity and support for diverse family structures. Belmont's community is enriched by its local amenities, parks, and proximity to the Swan River, making it an attractive option for those seeking a well-rounded lifestyle in Perth's metropolitan area.

Belmont infrastructure, key developments and investment opportunities

Belmont continues to benefit from its close proximity to Perth’s CBD and airport, which supports demand from both owner-occupiers and renters. The suburb’s established transport connections and access to major roads make it attractive for commuters and households seeking convenience.

There are no major suburb-specific redevelopment, school, or transport announcements in the provided information that appear likely to materially shift the property market at this time. Belmont’s ongoing appeal is more likely to be driven by its location, amenity access, and steady housing demand rather than a single large infrastructure project.

Belmont rental market trends

The rental market in Belmont has experienced steady growth, with house rents increasing by 7.4% over the past year to $750 per week, while unit rents have risen by 8.3% to $650 per week. This upward trend reflects the suburb's appeal, driven by its strategic location and ongoing development, making it an attractive option for both renters and investors.

Suburbs near Belmont

Some popular suburbs near Belmont include:

  • Redcliffe: Known for its residential charm and proximity to Perth Airport, Redcliffe is located directly north of Belmont.
  • Rivervale: Featuring a mix of residential and commercial areas with easy access to the city, Rivervale is situated to the west of Belmont.
  • Maylands: Known for its vibrant arts scene and riverside living, Maylands lies to the northwest of Belmont.
  • Cloverdale: Offering a family-friendly environment with ample parks and schools, Cloverdale is located directly south of Belmont.
  • Kewdale: Known for its industrial areas and proximity to major transport routes, Kewdale is situated to the southeast of Belmont.

How does Belmont compare to nearby suburbs?

  • Median house prices: Belmont’s median house price is 0.2% lower than Redcliffe’s.
  • Median unit prices: Belmont’s median unit price is 10.1% lower than Rivervale’s.
  • House price growth: Over the past 12 months, house prices in Belmont have grown 1.8% higher than in Redcliffe.
  • Unit price growth: Property prices in nearby Redcliffe have risen 17.3% more than in Belmont over the past year.
  • Selling speed for houses: Properties in nearby Redcliffe are selling 38.5% faster than in Belmont.
  • Selling speed for units: Properties in nearby Maylands are selling 25.0% faster than in Belmont.
  • Investment considerations: In Belmont, the rental yield for house is 2.1% lower than the Perth average, while the rental yield for units is 2.0% lower.
  • House price growth: Over the past 12 months, house prices in Belmont have grown 16.2% lower than the average rate of growth across Perth.
  • Unit price growth:Over the past 12 months, unit prices in Belmont have grown 13.2% lower than the average rate of growth for units across Perth.

Common questions about Belmont

  • Is Belmont a nice place to live?

    Belmont is a delightful suburb that offers a fantastic blend of urban convenience and suburban tranquility, making it a wonderful place to live. Its proximity to Perth's CBD means that residents can enjoy the benefits of city life while residing in a more peaceful environment. The suburb is known for its vibrant community atmosphere, with a mix of families and professionals who appreciate the balance of lifestyle it offers. Belmont is well-equipped with amenities, including the popular Belmont Forum shopping centre, which provides a plethora of retail and dining options. The suburb's parks and green spaces offer residents a chance to enjoy outdoor activities and relax in nature, adding to the overall livability of the area.

    For families, Belmont is particularly appealing due to its access to quality schools and community facilities. The suburb's strong sense of community and safety make it an ideal place for raising children. While Belmont offers a lot in terms of convenience and lifestyle, one trade-off might be the bustling nature of the area due to its proximity to major roads and transport links, which can lead to increased traffic at times. However, this also means that commuting to the city or other parts of Perth is a breeze, making it a convenient choice for those who work in the city.

    Overall, Belmont's charm lies in its ability to offer a balanced lifestyle with the benefits of both urban and suburban living. It is a suburb that caters to a diverse range of residents, from young families to professionals, providing a welcoming and inclusive environment. With its vibrant community, excellent amenities, and convenient location, Belmont is undoubtedly a nice place to live for those seeking a well-rounded lifestyle in the Perth metropolitan area.

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  • Is it expensive to live in Belmont?

    Living in Belmont, an inner-eastern suburb of Perth, can be quite expensive, especially when considering the housing market. The median house price in Belmont is currently $990,000, which is a significant investment. For those looking to rent, the average rent for houses is about $750 per week, while units, though not currently available for purchase, have an average rent of $650 per week.

    When comparing these figures to the average income in Perth, which is approximately $85,000 per year for full-time workers, it becomes evident that a substantial portion of one's income would go towards housing costs in Belmont. The median total household income in Belmont is $1,557 per week, which suggests that while some residents might find it manageable, others may find the cost of living in this suburb to be on the higher side.

    Overall, while Belmont offers the convenience of being close to Perth's amenities and attractions, the cost of housing is relatively high. If you are thinking of living in Belmont, it's important to consider your financial situation and how it aligns with the expenses associated with residing in this area.

    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 Belmont a good place to invest?

    Belmont is shaping up to be an attractive suburb for investment, thanks to its impressive growth in property values and rental returns over the past year. With a substantial 19.7% increase in median house values and a 13.0% rise in unit values, the suburb is clearly experiencing a strong upward trend. This kind of growth indicates a healthy demand for properties in the area, which is a positive sign for potential investors.

    In addition to the capital growth, Belmont has also seen a notable increase in rental yields, with house rents climbing by 7.4% and unit rents by 8.3% over the last 12 months. This suggests that the suburb is not only appealing to buyers but also to renters, providing a steady stream of rental income for property owners. The combination of rising property values and rental income makes Belmont a compelling option for those looking to invest in real estate.

    Overall, Belmont offers a promising mix of capital growth and rental yield potential, making it a suburb worth considering for investment. Its recent performance in the property market highlights its potential for both short-term gains and long-term stability, appealing to a wide range of investors.

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Choose the right real estate agents in Belmont

There are 77 real estate agents in Belmont, but they don’t all deliver the same results.

Some agents have a much stronger presence in the suburb, with just 5 agents handling around 41.0% of all sales in the past year.

Commission rates in Belmont typically range from 2% to 2.93%. Comparing agents—including what they charge, what’s included, and how they structure their fees—is not only important when choosing an agent, the right structure can help ensure your chosen agent is motivated to achieve the best possible result.

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