Should you invest in the Perth property market?

Perth remains the market of choice for property investors and homeowners looking for affordability. This is boosted by the Western Australia government's incentives for younger buyers. Investors have also been attracted to the city because it is the cheapest of all Australia's capital cities despite offering high rental yields. If you want to invest in Perth property, speak to our experienced real estate agents today.

What are the best suburbs in Perth to invest in?

According to loans.com.au , these three neighbourhoods should be your first point of call if you're looking to invest in the Perth property market. Fremantle — Fremantle's houses have an average rent of $645 per week and have been experiencing a growth rate of 3.7 per cent per annum. Subiaco — This neighbourhood's median house price stands at $1,420,000, with an average rental house yield of 2.6 per cent. Scarborough — With a median house price of about $800,000 and rental house yields of 3.9 per cent, Scarborough is an enticing property investment destination in Perth.

Are Perth house prices dropping?

The Perth median house price was $525,000 in May . This means the Perth residential property market is on its way to achieving the forecasted 10% price growth by the end of 2022. However, due to the hike in interest rates, amongst many other economic factors, Perth house prices are forecast to drop 8 per cent in 2023 .

Has the Perth property market slowed down?

The housing boom that Perth has experienced over the last few years is starting to slow. This is mainly due to supply shortages caused by the combination of few property listings and high sales volume. Normally, Perth would have about 12,000 to 13,000 units listed for sale. However, the number of house listings in Perth has been hovering around 8,000 for most of 2022 . This means that there are fewer properties listed for sale than the market demand.