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Lakelands sits on the outskirts of Mandurah and is built around a series of lakes and wetland reserves, which give it a green, open character. The streets are dominated by modern family homes and new residential estates, with parks, playgrounds and walking and cycle paths stitched through the neighbourhood. It attracts families and commuters who value a suburban feel with easy rail access via Lakelands station on the Mandurah line and straightforward road links into Mandurah. Local shops, schools and sporting fields support everyday life, and Mandurah’s foreshore, marinas and beaches are a short drive away.

The community numbers 6,171 people with a median age of 32. Couple families with children are the largest family type at 47.2%, and together with couple families without children they make up just over eight in ten families. About three in four dwellings are owner-occupied (76.4%) and the median household income is $1,804 a week. A major Peel Health Campus redevelopment including a new Mandurah hospital is planned, the City of Mandurah is consulting on a health precinct plan, and the City is arranging to retain the Lakelands Library and Community Centre within the Lakelands Town Centre.

For a household earning the typical local income at the last Census in Lakelands, a house renting for $650 a week would take about 36% of that weekly income, a sizeable share.

Buying at the median house price of $800,000 works out to roughly 8.5 times a typical local household's annual income at the last Census, which sits well above local incomes. On these figures, renting and buying place different pressures on a typical local household: rent would take a sizeable share of weekly income, while buying sits well above a local year's household income.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

House rents in Lakelands rose 4.8% over the past year, a modest increase in what a house here earns in rent.

If rental income is your main priority, that rental change is the figure that matters; whether it suits your plans depends on your own goals and circumstances.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.