Perth, Western Australia’s vibrant capital, continues to evolve with promising growth prospects across its diverse suburbs. Being the national leaders in price growth in 2023, the housing market in Perth is definitely one to consider. Whether you’re considering a move or an investment opportunity, understanding the city’s burgeoning areas can be pivotal.
Top 5 Growth Suburbs:
1. Ellenbrook
Ellenbrook, located northeast of Perth, offers a blend of affordability and community-centric living. Its strategic location and ongoing development make it a prime choice for families and investors alike. With a median house price of $580,000 and unit price $410,000 in 2024, Ellenbrook is the perfect first home buyer suburb in Perth. Up 24% in annual growth, now is the time to invest in Ellenbrook.
2. Byford
Byford, situated south of Perth, has seen substantial growth due to its affordability, proximity to amenities, and expanding infrastructure. It appeals to young families seeking a suburban lifestyle and with a median house price of $605,000 and an increase of 26%, Byford has become a popular suburb for investment.
3. Baldivis
Baldivis, located in Perth’s southern suburbs, continues to attract residents with its affordability, schools, and easy access to shopping centres and transport links. Just a short drive from Perth’s CBD, the median house price in Balvidis is $611,000 with annual growth up 23%.
4. Aveley
Aveley, in Perth’s northeastern corridor, boasts modern amenities, parklands, and a growing community. It’s popular among families seeking a suburban lifestyle close to nature. The median house price is up 23.5% in 2024 with an average of $615,000.
5. Piara Waters
Piara Waters, known for its family-friendly environment and proximity to schools and parks, has seen steady growth, appealing to both homeowners and investors. The growing Perth suburb boasts a high quality of life for its residents with a median house price of $760,000 and unit price of $550,000
Investing in Perth’s Growth Suburbs
These suburbs not only offer diverse housing options but also present promising investment opportunities due to their consistent growth rates and strategic developments. Whether you’re looking to settle down or expand your property portfolio, understanding Perth’s evolving real estate landscape can guide you towards making informed decisions.
As Perth continues to thrive and expand, these top 10 growth suburbs stand out for their affordability, amenities, and community appeal. Keep an eye on these areas as they promise to shape the future of Perth’s real estate market.