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Perth suburb profile

Perth, the vibrant capital of Western Australia, is a bustling metropolis known for its stunning natural beauty and dynamic urban lifestyle. Situated along the banks of the Swan River, Perth offers a unique blend of city living and outdoor adventure, with pristine beaches, lush parks, and a sunny climate. The city is a hub for business, culture, and entertainment, featuring a thriving arts scene, diverse dining options, and a lively nightlife. With its modern infrastructure, excellent public transport, and proximity to iconic attractions like Kings Park and Rottnest Island, Perth is a sought-after destination for residents and visitors alike.

Perth property market performance

Perth's property market has shown varied performance over the past 12 months. While the median house price has remained stable at $785,000, unit values have surged by 11.6%, reaching a median price of $490,000. This indicates a growing demand for units in the area.

Sales activity has been robust, with 35 houses and 181 units sold over the last 12 months. Both houses and units are selling quickly, with a median of just 18 days on the market, reflecting strong buyer interest across both property types.

The rental market in Perth has seen significant changes, particularly for units, where average rent has increased by 13.3% over the last 12 months. House rents have also risen, albeit more modestly, by 2.9%, suggesting a stronger demand for rental units in the area.

Median price - houses$785KPast 3 months

Median price - units$490KPast 3 months

Change in value - houses-12.6%12 months

Change in value - units11.0%12 months

Houses sold25Past 3 months

Units sold182Past 3 months

Median DOM - houses18.5Past 12 months

Median DOM - units17Past 12 months

Average rent - houses$750Past 12 months

Average rent - units$690Past 12 months

Change in rent - houses10.3%Past 12 months

Change in rent - units15.0%Past 12 months

Perth demographics

Perth, the vibrant capital city of Western Australia, is known for its stunning beaches, sunny climate, and dynamic urban lifestyle. With a population of 13,670, the suburb of Perth is a bustling hub that attracts a diverse mix of residents, including young professionals, students, and families. The median age of 33 reflects a youthful and energetic community, drawn to the city's thriving arts scene, cultural events, and employment opportunities.

Housing in Perth is predominantly rental-based, with 66.9% of properties being rented. This high rental rate underscores the suburb's appeal to those seeking flexible living arrangements, such as students and professionals who value proximity to the city's amenities and vibrant nightlife. The suburb's household composition is varied, with a significant proportion of couple families without children (66.5%), highlighting its attraction to young couples and professionals.

The workforce in Perth is diverse, with many residents employed in professional, managerial, and service roles, reflecting the city's status as a major economic and cultural center. The median total household income of $1960 per week indicates a relatively affluent community, benefiting from the city's robust job market and lifestyle offerings. With its blend of urban convenience, cultural richness, and natural beauty, Perth continues to be a sought-after destination for those seeking a dynamic and fulfilling lifestyle.

Perth infrastructure, key developments and investment opportunities

Perth is experiencing significant urban renewal and infrastructure developments that are set to enhance its appeal as a property market. The $1.5 billion Perth City Deal is driving several major projects, including the creation of a new inner-city campus for Edith Cowan University and the redevelopment of the Perth Concert Hall. These initiatives are expected to bring more students and cultural activities to the CBD, potentially increasing demand for nearby properties.

Additionally, the ongoing Elizabeth Quay development continues to transform Perth's waterfront, with new residential towers, hotels, and public spaces enhancing the city's livability. The recent completion of the Matagarup Bridge and Optus Stadium has improved connectivity and amenities in the eastern part of the city. These developments, combined with Perth's reputation for high quality of life, are likely to sustain interest in the CBD property market and may contribute to future value growth.

Perth rental market trends

The rental market in Perth has shown mixed trends, with house rents experiencing a modest increase of 2.9% over the past year to $700 per week, while unit rents have surged 13.3% to $680 per week. This dynamic reflects a strong demand for units, making Perth an attractive option for renters and investors seeking opportunities in a vibrant urban setting.

Suburbs near Perth

Some popular suburbs near Perth include:

Common questions about Perth

  • Is Perth a nice place to live?

    Perth is a fantastic place to live, offering a delightful blend of urban convenience and natural beauty. As a bustling hub, it provides a vibrant lifestyle with a strong sense of community, making it an attractive choice for families. The suburb is known for its dynamic culture and lively atmosphere, with a plethora of cafes, restaurants, and shopping options that cater to diverse tastes. The presence of lush parks and proximity to stunning beaches ensures that residents can enjoy both city living and outdoor adventures, making it a well-rounded place to call home.

    Families will find Perth appealing due to its excellent amenities, including quality schools and recreational facilities. The suburb's safety is generally well-regarded, contributing to its family-friendly vibe. While Perth offers a vibrant nightlife and a thriving arts scene, it also provides peaceful retreats in its green spaces, allowing for a balanced lifestyle. The ongoing urban renewal projects and infrastructure developments promise to enhance the suburb's livability even further, offering exciting prospects for future residents.

    However, living in Perth does come with some trade-offs. The high demand for rental properties can make finding a home challenging, and the bustling city life may not suit those seeking a quieter environment. Additionally, while the suburb's vibrant culture is a draw for many, it might not appeal to those who prefer a more laid-back lifestyle. Despite these considerations, Perth remains a sought-after destination for those looking for a dynamic and fulfilling place to live, with its unique blend of urban and natural attractions.

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  • Is it expensive to live in Perth?

    Living in the heart of Perth can be quite costly, especially when you consider the local property market. The median house price in Perth 6000 is currently around $785,000, while the median price for units is about $490,000. These figures are relatively high, especially when compared to the average wage in Perth, which is approximately $85,000 per year. This means that buying a home in this suburb could take a significant chunk of your income, making it a substantial financial commitment.

    Renting in Perth 6000 is also on the pricier side, with the average rent for houses being $700 per week and units slightly less at $680 per week. When you compare these rental prices to the median total household income in the area, which is $1,960 per week, it's evident that a large portion of income would go towards housing costs. This can make living in this central suburb a bit of a stretch for those earning the average wage in Perth.

    Overall, while Perth 6000 offers the convenience of city living with its vibrant lifestyle and amenities, the cost of living, particularly in terms of housing, is relatively high. If you're considering making this suburb your home, it's important to weigh these costs against your financial situation to ensure it's a feasible option for you.

    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 Perth a good place to invest?

    Perth, particularly the area with the postcode 6000, presents an intriguing opportunity for investment, especially in the unit market. Over the last 12 months, while the median house values have remained stable with no change, the unit market has shown a significant increase of 11.6%. This suggests a growing demand for units, likely driven by affordability and lifestyle preferences, making it an attractive option for investors looking to capitalize on this upward trend.

    Moreover, the rental market in Perth 6000 has experienced notable growth, particularly for units, with a 13.3% increase in rent over the past year. This indicates a strong rental demand, which is beneficial for investors seeking reliable rental income. The increase in house rents by 2.9% also suggests a steady demand, though not as pronounced as the unit market. The combination of rising unit values and rental yields makes Perth 6000 a promising area for those interested in investing in units.

    Overall, Perth 6000 offers a balanced investment landscape. While houses provide stability, the unit market is where the potential for growth and rental income seems most promising. For investors looking to tap into a vibrant urban market with a strong rental demand, Perth 6000 is certainly worth considering.

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