Perth, the capital city of Western Australia, is experiencing a boom. The resources sector is thriving, the job market is strong, and the population is growing. This has led to a surge in demand for housing, making Perth an attractive location for property investors.
However, with so many suburbs, figuring out where to invest can take time. That’s where the experts come in. We’ve spoken to leading property analysts and real estate agents to get their insights on the best suburbs for investment in Perth in 2024.
Factors to Consider When Choosing an Investment Property in Perth
Before we dive into specific suburbs, let’s take a look at some of the key factors you should consider when choosing an investment property in Perth:
- Location: Consider the suburb’s proximity to amenities like schools, shops, and public transport. Look for suburbs with good access to major roads and highways.
- Growth potential: Look for suburbs with a strong track record of capital growth and rental yields.
- Development: Is there any planned development in the area? This could include new infrastructure projects, schools, or shopping centres. Development can boost property values.
- Affordability: Consider your budget and the types of properties available in the suburb.
- Rental demand: Choose a suburb with a healthy rental market. This will help you secure tenants and ensure a steady income stream from your investment.
Perth Property Investment Picks for 2024
Based on expert recommendations and market trends, here are some of the most promising suburbs for property investment in Perth in 2024:
Established Suburbs with Proven Performance
- Parmelia: This well-established suburb offers a good mix of properties, strong rental yields, and easy access to major roads for convenient commutes.
- Seville Grove: Known for its established infrastructure, Seville Grove boasts a variety of housing options and a stable rental market, making it attractive to a wide range of tenants.
- Eglinton: Situated near key amenities like schools, shops, and parks, Eglinton provides a solid investment opportunity with its mix of established housing and good public transport links.
High-Growth Up-and-Coming Suburbs
- Brookdale: This suburb attracts young families with its affordability, new schools, and family-friendly atmosphere. With its growing population, Brookdale has the potential for future capital growth.
- Madora Bay: This coastal suburb offers a relaxed lifestyle near the beach. Due to its proximity to the coast and planned infrastructure projects, Madora Bay is expected to grow strongly.
- Ellenbrook: With its ongoing development and growing appeal to businesses and families, Ellenbrook presents an exciting opportunity for investors seeking suburbs on the rise.
Additional Options
While not included in the original list, these suburbs are also worth considering:
- Golden Bay: A beachside suburb with growth potential.
- Mindarie: Another coastal suburb with new housing developments.
- Alkimos: Previously mentioned for its strong growth potential due to coastal location and infrastructure plans.
- Butler: A well-established suburb with many housing options and good infrastructure.
Getting Advice from a Property Expert
While these suburbs offer promising opportunities for investors, conducting your research before making any investment decisions is important. Consider speaking to a qualified property investment advisor who can provide tailored advice based on your circumstances and investment goals.
Conclusion
Perth offers a wealth of investment opportunities for property investors. Considering the above mentioned factors and speaking to a property expert, you can find the right suburb to meet your investment goals. With the Perth market continuing to grow, there’s no better time to invest in the vibrant city of Perth.
