LOCATION SPOTLIGHT: PERTH, WA

Perth property investment: here's the current lowdown.

Perth's median dwelling value sits at $1,017,698, still well under Sydney, while listings run 40 to 45% below the five-year average. The easy opportunities are behind us, but there is still huge opportunities available that are affordable. From here it's about picking the right pocket rather than betting on the whole city.

Learn about SPARK

At a glance

Greater Perth stands out for price access, growth upside, and lifestyle pull, with costs well below east coast capitals. A Mediterranean climate, beaches, river parks, and improving transport support steady rental demand. Population inflows, resources sector employment, and low vacancies have supported strong yields and capital growth. The market has moved -- selectivity matters more now than it did two years ago.

The market has moved: selectivity matters more now than it did two years ago.

PERTH MARKET SNAPSHOT

$720k

Median house price

Source: Core Logic March 2026

$495k

Median unit price

Source: Core Logic March 2026

5.4%

Gross rental yield

Source: SQM Research March 2026

+18.2%

YoY price growth

Source: Core Logic March 2026

0.4%

Vacancy rate

Source: SQM Research March 2026

Why invest

Outperforming on growth and yield

Perth has outperformed on both capital growth and yield over the past three years. Supply constraints and rental pressure have driven fast buyer decision-making. In key growth corridor areas, well-priced properties go under offer quickly.

Resources sector employment anchor

Iron ore, LNG, and broader resources sector employment underpin a stable, high-income employment base. This workforce drives consistent rental demand in the middle and outer rings, and provides economic resilience that many east coast markets don't have.

Population growth driving demand

Interstate migration from the east coast on lifestyle and affordability grounds continues. Perth's population growth is absorbing supply faster than new stock is coming online, keeping vacancy rates low.
our view

Perth's position right now

Perth's run has been significant. Rental vacancy near record lows, sustained resources sector employment, and genuine interstate migration drove a market that was previously undervalued relative to east coast capitals.

The catch-up has been real. The honest position: the market has moved. Entry prices are up and some corridors that were excellent value three years ago are now fully valued. Selectivity matters more now than at any point in the past cycle.

Investors will need to stretch their locations up and down the northern and southern growth corridors where there are still house and land product with reasonable fundamentals and primed for growth. But we're more careful about which projects we put clients into, and we'll tell you clearly if we think a location or price point doesn't stack up.

What to buy

  • Houses in the Northern Growth CorridorAlkimos, Eglinton, Yanchep, Butler
  • Houses in the Southern Growth CorridorWellard, Baldivis, Piara Waters
  • House & Land packagesstrong new build supply, FIRB-compliant
  • Ellenbrook / Swan Valleyestablished growth corridor with solid fundamentals

Watch out for

The market has moved significantly since 2022. Some corridors that were strong value are now fully priced. We will not recommend a purchase that doesn't stack up at current prices regardless of what the market has done previously. If we think an area or project is overcooked, we'll tell you. Perth still has opportunities -- but the days of buying almost anything in the growth corridors and watching it perform are behind us.

Infrastructure & growth drivers

Resources sectoriron ore and LNG underpinning stable, high-income employment
METRONET rail expansionextending connectivity across northern and southern corridors
Interstate migrationPerth attracting workers and families from the east coast
Rental vacancy near record lowsstrong yield environment for investors
South-West Growth CorridorPlanned communities with employment precincts and major retail

Committed state government infrastructure spend across northern and southern precincts

FIRB note

Strong new build supply across the northern and southern growth corridors. Well-suited for foreign buyers. The new build corridor product is the clean route. Some established property is available in specific scenarios with FIRB approval -- seek specific legal advice for any established purchase.

Interested in Perth?

Let's talk through what's available at your budget and whether the numbers work for your situation.
+61 8 9000 0000
PERTH@PROPERTYNXT.COM