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 house values have remained stable with no change, unit values have seen a significant increase of 11.4%. The median house price over the past three months has averaged $912,500, while units have averaged $490,000, indicating a strong demand for units in the area.
Sales activity has been robust, with 24 houses and 174 units sold in the past three months. Properties are moving quickly, with houses spending a median of 20 days on the market and units just 17 days, reflecting high buyer interest, particularly in the unit sector.
The rental market in Perth has experienced notable growth over the last 12 months. Average rent for houses has increased by 7.1%, while units have seen a more substantial rise of 12.9%, highlighting a strong demand for rental properties, especially units.
Median price - houses$913KPast 3 months
Median price - units$490KPast 3 months
Change in value - houses-11.9%12 months
Change in value - units11.4%12 months
Houses sold24Past 3 months
Units sold174Past 3 months
Median DOM - houses20.5Past 12 months
Median DOM - units17Past 12 months
Average rent - houses$750Past 12 months
Average rent - units$700Past 12 months
Change in rent - houses7.1%Past 12 months
Change in rent - units12.9%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 experienced notable growth, with house rents increasing by 7.1% over the past year to $750 per week, while unit rents have surged 12.9% to $700 per week. This upward trend reflects strong demand and investment in the area, making Perth an attractive option for both renters and investors seeking robust returns in a vibrant urban setting.
Suburbs near Perth
Some popular suburbs near Perth include: