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Best 10 Suburbs to Invest in Perth 2021

With its idyllic beachside location, relaxed lifestyle and affordable housing, Perth has long been a popular destination to invest in property and why it is a regular on the Economist’s Intelligence Unit’s highly acclaimed list of most liveable cities in the world.

With the current favourable conditions brought on by record-low interest rates, low rental vacancy rates, and rising rental yields, Perth property is in high demand.

Investors who have been sitting on the sidelines are now snapping up Perth properties, spurred on by promising figures from banks including Westpac who predict property prices in WA will grow 8% in 2021, with senior economists predicting property growth rates of 18 per cent by 2023.

This is reinforced by REIWA, who also tip Perth house prices to grow, by 6 to 10 per cent over the next 12 months.

If you are looking to take advantage of the upswing, take a look at our top 10 Perth hotspots – based on REIWA’s latest median house and land prices.

1. Willagee – Average Rental Yield 3.73%

Willagee’s proximity to Fremantle provides such an attractive proposition for buyers that developers are struggling to keep up with the demand for brand-new developments, indicating this suburb is one to watch in 2021.

Located 20 minutes from Perth’s CBD, Willagee’s prominent school district, access to the freeway and direct bus services offer residents tremendous convenience.

In addition to a competitive median price of $530,000 Willagee is home to one of Satterley’s newest estates, Gallery, which provides investors with a wide choice of properties including double-storey townhomes and apartments.

2. South Perth – Average Rental Yield 2.47%

Wrapped in bends of the Swan River and just 4 kilometres from the CBD, South Perth’s stunning location and convenience are key attractions. A growing number of apartments are attracting professionals and students drawn to the low maintenance lifestyle of apartment living.

Older couples and families enjoy larger, established houses in this affluent riverside neighbourhood, with several private schools nearby and significant foreshore parkland and the Perth Zoo among the other attractions of this picturesque suburb.

The median price of $1,247,500 is driven by breathtaking views from numerous vantage points which will always attract good quality buyers and tenants.

3. Busselton – Average Rental Yield 4.33%

The South-West is WA’s most visited regional area, which is not likely to change anytime soon with the $60 million Busselton-Margaret River Regional Airport upgrade which enables Qantas to fly direct from Australia’s east coast.

Home to Satterley’s Provence estate, the $10.5 million redevelopment of Busselton’s foreshore, quality wine growing region and emergence as a well renowned venue for world class musical and cultural events show exactly why this suburb deserves its spot on the list.

First home buyers are unlikely to pay any stamp duty in Busselton with the median price of $427,500 below the $430,000 exemption and with a population forecast to grow nearly 50 per cent by 2026 it’s easy to see why people are flocking to this seaside town.

4. Riverton – Average Rental Yield 3.13%

New rezoning for higher density housing coupled with its proximity to highly sought-after Rossmoyne Senior High School makes Riverton a suburb to watch in 2021.

With 72 per cent of Riverton owning their home it provides a family-friendly option for buyers to settle down or for investors to take advantage of limited rentals in a suburb that features over 10 parks covering almost 20 per cent of its total area.

Riverton shopping centre offers a wide variety of stores while nearby Bull Creek train station offers easy access to Perth’s CBD which is only 10 kilometres away. With a median price of $656,400, Managing Director of Strategic Property Group Trent Fleskens has earmarked it as his top hotspot in Perth.

5. Clarkson – Average Rental Yield 4.99%

Since its initial development in the early 1990s, Clarkson has evolved into a thriving suburb. Just a 30-minute drive north of Perth, with its own train station, Clarkson offers buyers an easy and affordable lifestyle with a median house price of $365,000.

Nestled within Clarkson is Catalina Central which sits within the Catalina Estate and offers family-friendly living with quality schools, parks, playgrounds, the Ocean Keys Shopping Centre and Neerabup business centre all nearby.

6. Yanchep – Average Rental Yield 4.50%

Home buyers in Yanchep will have ongoing benefits in the medium to long term due to major infrastructure expansions like the extension of the Metronet railway to Yanchep and widening of Marmion Avenue.

Located on the coast, 56 kilometres north of Perth, Yanchep is benefiting from the COVID-induced trend of working from home with buyers looking to invest in regional areas within a commutable distance to Perth's CBD.

This has created unique opportunities for astute investors and owner-occupiers to buy into a suburb that many consider is undervalued with a median price of $370,000.

If you are looking for something slightly closer to Perth but at a similarly affordable price, land in Allara, Eglinton, starts at $145,000 and at $185,000 in Eden Beach, Jindalee.

7. Forrestfield – Average Rental Yield 4.99%

Forrestfield is fast becoming a hotspot for families and FIFO workers with the development of three new train stations under the $1.86 billion Forrestfield-Airport Link providing fantastic convenience with a direct transport route between Perth’s airport and the CBD.

Located 15 kilometres south-east of Perth, Forrestfield is home to the Hartfield Park Recreation Centre which boasts an indoor stadium, an 18-hole golf course, equestrian centre, nature park and lake as well as the leafy The Hales estate, featuring landscaped parks and playgrounds.

With an attractive median price of $380,000, buyers who enter previously overlooked suburbs such as Forrestfield at the right time have the chance to leverage the available grants and affordability of the area prior to buyer competition pushing up property prices.

8. Bedford – Average Rental Yield 3.32%

Bedford is a promising suburb providing an attractive proposition for buyers with a median house price of $633,000 and a median asking rent of $400/week.

Bedford’s location just 7 kilometres from Perth’s CBD, coupled with its proximity to Chisholm Catholic College and Morley Galleria Shopping Centre, ensures steady growth prospects in the medium to long term.

Bedford is primarily comprised of young families and older couples and its inner-city location and proximity to the popular Mt Lawley shopping and dining precinct provide a fantastic opportunity for rental properties.

9. Yokine – Average Rental Yield 3.59%

Just slightly further away is Yokine, located 8 kilometres from Perth’s CBD and just minutes to the popular café and restaurant strips in Mount Lawley, Leederville, and North Perth.

Home to the popular West Australian Golf Club, Yokine is well equipped for all lifestyles with local shopping centres Dog Swamp and Flinders Square both minutes away. You will be hard-pressed to find a lower median price ($586,000) this close to Perth’s CBD.

Parks and reserves are plentiful in Yokine with regular bus services to Perth City adding to the appeal of this highly sought-after suburb. Its increasingly well renowned local schools including Yokine Primary School, St Denis Catholic Primary School and Servite College make it easy to see why Yokine recorded a 4.8% increase in median sale price last year.

10. Wandi – Average Rental Yield 4.10%

Wandi is located 25 kilometres south of Perth, offering a suburban lifestyle with easy access to the freeway and transport links through Kwinana and Cockburn train stations.

Average weekly rents have reached $380, reflecting a 4.1% increase in returns based on the current median price of $470,000.

Harvest Lakes Shopping Centre and Cockburn Gateway Shopping Centre are both close by, featuring more than 150 food, fashion and specialty shops while the Honeywood district playing fields and adventure playground are both part of the award-winning Honeywood estate.

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