Get a property report and suburb profile for any property in Palmyra

Palmyra is a well established, mainly residential suburb in Perth’s southern suburbs that sits inland from the river foreshore. It has a quiet, suburban feel with tree-lined streets and a mix of mid-century brick cottages, renovated homes and newer infill. The area appeals to families, downsizers and local professionals who value easy access to nearby shopping strips, parks and community sporting facilities, while road and bus links connect residents to Fremantle, the riverfront and other southern suburbs.

Palmyra is a community of 7,585 people with a median age of 39, and most dwellings are owner-occupied (72.9%). The Melville District Activity Centre Plan is guiding higher-density mixed-use change around the Melville Plaza precinct, and local investment has included pavement upgrades, discussions about targeted underground power, school air-conditioning improvements and new padel courts at the Melville Palmyra Tennis Club. Whether that mix suits you depends on what you are looking for in a suburb.

On these figures, housing in Palmyra 6157 sits well above local incomes as recorded at the most recent Census. A typical local household earned $1,729 a week at the last Census, so the median house price of $1,295,000 is about 14.4 times a typical local annual household income, and the median unit price of $778,500 is about 8.7 times that annual income.

Renting also uses a large share of a typical local household's weekly income at the last Census: average house rent of $810 a week is roughly 47% of that income, and unit rent of $690 a week is about 40%. If you are renting rather than buying, the rent share is likely the most relevant figure; if you are looking to buy, the price multiples show how far purchase costs sit above what local households earned at the last Census.

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

Over the past 12 months, property values in Palmyra rose strongly: median house values increased 27.3% and median unit values increased 22.2%. Rents also moved higher over the year, with unit rents up 10.4% and house rents up 8.0%.

Those value changes show capital growth over the year, while the rent figures show how rental income moved. Houses delivered the larger capital gain this year, and units produced the stronger rent growth; which of those outcomes matters to you will depend on your own investment goals and priorities.

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.