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
Current median dwelling price$533,500Past 3 months
Property growth+12.7%Past 12 months
Perth's property market has experienced robust growth over the past 12 months, with both houses and units seeing significant value increases. House values have risen by 12.5%, while unit values have increased by 12.9%. The median house price over the past three months has averaged $603,000, and units have averaged $464,000, indicating strong demand across both property types.
Sales activity has been active, with 191 houses and 30 units sold in the past 12 months. Houses are taking longer to sell, with a median of 66 days on the market, compared to 49 days for units, suggesting a quicker turnover in the unit market.
The rental market in Perth has also seen notable increases, with house rents rising by 11.5% and unit rents by 9.7% over the last 12 months, reflecting a strong demand for rental properties in the area.
| Houses | Units | |
|---|---|---|
Median price Past 3 months | $603K | $464K |
Change in value Past 12 months | 12.5% | 12.9% |
Sold Past 3 months | 191 | 30 |
Median days on market Past 12 months | 66 | 49 |
Average rent Past 12 months | $730 | $680 |
Change in rent Past 12 months | 11.5% | 9.7% |
5 year median price trend for houses and units
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 11.5% over the past year to $730 per week, while unit rents have risen by 9.7% to $680 per week. As a vibrant city with ongoing development and a strong demand for rental properties, Perth continues to be an attractive option for both investors and tenants seeking a dynamic urban lifestyle.
Suburbs near Perth
Some popular suburbs near Perth include:
How does Perth compare to nearby suburbs?
- Median house prices: Perth’s median house price is 0.8% lower than East Perth’s.
- Median unit prices: Perth’s median unit price is 6.7% higher than Wembley’s.
- House price growth: Over the past 12 months, house prices in Perth have grown 4.6% higher than in East Perth.
- Unit price growth: Property prices in nearby East Perth have risen 14.3% more than in Perth over the past year.
- Selling speed for houses: Properties in nearby East Perth are selling 22.7% faster than in Perth.
- Selling speed for units: Properties in Perth are selling 2.0% faster than in Leederville.
- Investment considerations: In Perth, the rental yield for house is 1.2% higher than the Perth average, while the rental yield for units is 16.6% higher.
- House price growth: Over the past 12 months, house prices in Perth have grown 38.5% lower than the average rate of growth across Perth.
- Unit price growth:Over the past 12 months, unit prices in Perth have grown 11.9% lower than the average rate of growth for units across Perth.

