Top Suburbs in Perth for Property Investment in 2024

As we step into 2024, property investors are keen to identify the suburbs in Perth that offer the best potential for growth. Several factors play a vital role in determining the attractiveness of a suburb for property investment, including infrastructure development, affordability, and demographic trends. This article will outline some of the top suburbs in Perth for property investment for the year ahead.

1. East Perth

Known for its proximity to the CBD and the Swan River, East Perth is rapidly gaining popularity among investors. The suburb hosts a mix of residential and commercial developments, contributing to its vibrant atmosphere.

• Investment potential: Significant infrastructure projects are underway, promising to increase property values.
• Rental Demand: With many students and professionals living in the area, expect high demand for rentals.
• Community Facilities: Parks, schools, and restaurants enhance the suburban lifestyle.

2. Baldivis

Located about 40 kilometers south of Perth’s CBD, Baldivis has become an appealing option for families looking for larger homes and affordable prices.

• Family-Friendly: Excellent schools and amenities make it a great place for families.
• Growth Area: The suburb’s continued development drives future growth potential.
• Affordability: Lower median house prices compared to nearby suburbs.

3. Maddington

Once predominantly industrial, Maddington is transforming into a thriving residential hub. With various housing options available, it appeals to both investors and families.

• Revitalization: Urban renewal projects are expected to increase property values.
• Transportation: Proximity to key transport links enhances commuting options.
• Diversity: A range of property types, from units to larger homes, attracts a broad demographic.

4. Joondalup

This northern suburb is an established metropolitan center with various amenities, including shopping, healthcare, and educational institutions.

• Job Opportunities: Numerous businesses and services create a robust job market.
• Transport Links: Excellent access to the Mitchell Freeway and train services.
• Community Vibe: A vibrant community with events and activities that enhance the suburban experience.

5. Rockingham

A coastal suburb, Rockingham’s appeal lies in its stunning beaches and relaxed lifestyle, making it attractive for both investors and families.

• Natural Beauty: Stunning coastline that draws in both residents and tourists.
• Infrastructure Investments: Ongoing developments in public transport and local services enhance the suburb’s value.
• Community Facilities: Parks, schools, and recreational facilities cater to families and retirees alike.

6. Canning Vale

Located in the south-eastern corridor of Perth, Canning Vale is a well-planned suburb known for its family-friendly atmosphere and array of amenities.

• Educational Institutions: Good schools and childcare facilities make it ideal for families.
• Accessibility: Well-connected by public transport and major roads.
• Community Spirit: A welcoming community with various recreational activities.

7. Thornlie

Thornlie has consistently been a solid performing suburb for property investors, offering affordable housing and steady price growth.

• Affordable Housing: Offers good rental yields and potential capital growth.
• Transport Links: Close to train stations and major roads for commuter convenience.
• Local Amenities: Shopping centers, parks, and community facilities contribute to a desirable lifestyle.

8. Ellenbrook

Ellenbrook has been one of Perth’s fastest-growing suburbs, attracting first home buyers and investors looking for growth potential.

• Family Appeal: A growing number of schools and community facilities built for families.
• Future Developments: Planned infrastructure improvements promise to enhance local amenities.
• Strong Community: Various community events foster a family-friendly atmosphere.

Conclusion

Perth’s real estate market is showing promising signs of growth as we enter 2024. Investors should consider the suburbs outlined in this article, as they offer a combination of affordability, accessibility, and strong rental demand. Each of these suburbs presents a unique opportunity for property investment, whether you are a seasoned investor or a first-time buyer. As always, conducting thorough research and staying informed about market trends will serve you well in making sound investment decisions.