The Future of Perth’s Real Estate Market: Top Suburbs to Watch for Investment
13th September, 2024
As the real estate landscape in Perth evolves, identifying suburbs with growth potential becomes crucial for investors looking to make informed decisions. This blog explores six suburbs—Ashfield, Embleton, Koongamia, Highgate, Brentwood, and Lathlain—highlighting the factors that position them for future growth and appeal to buyers.
Current Market Trends
Perth’s real estate market has shown resilience, with increasing buyer confidence and a gradual recovery in property prices. The demand for properties in suburban areas, driven by lifestyle changes and a quest for space post-pandemic, continues to grow. With low interest rates and ongoing infrastructure projects in various suburbs, potential investors should pay close attention to these areas as they offer promising opportunities.
1. Ashfield
Overview: Ashfield is a hidden gem situated just 9 kilometers from the Perth CBD. The suburb features a mix of charming heritage homes and contemporary developments, attracting families and young professionals alike.
Growth Potential: The completion of the new Redcliffe Train Station significantly enhances accessibility, making commuting to the city easier. Additionally, Ashfield’s proximity to the Swan River provides beautiful landscapes and recreational spaces.
Property Prices: With average property prices below the Perth average, Ashfield offers a more affordable entry point for investors.
2. Embleton
Overview: Embleton is an up-and-coming suburb characterized by its vibrant community and diverse population. It’s located conveniently close to the Perth CBD, making it attractive for commuters.
Growth Potential: The recent developments in local amenities, such as shopping centers and parks, contribute to Embleton’s appeal. The completion of the nearby Perth Airport expansion will also further increase property values.
Property Prices: Investors can find competitively priced properties, making it an appealing investment with potential for capital growth.
3. Koongamia
Overview: Nestled on the outskirts of the Swan Valley, Koongamia is ideal for families and those looking for a more tranquil lifestyle while still being within reach of urban conveniences.
Growth Potential: The suburb is undergoing revitalisation with new infrastructure projects and community development plans aimed at enhancing local amenities, including schools and parks.
Property Prices: With affordable housing options, Koongamia represents an opportunity for first-time buyers and investors looking to tap into a growing market.
4. Highgate
Overview: Highgate is a historic suburb renowned for its beautiful architecture and proximity to the vibrant cultural precinct of Beaufort Street.
Growth Potential: With ongoing gentrification and a focus on creating green spaces, Highgate is becoming increasingly
desirable. Its close-knit community vibe and accessibility to the city make it attractive for a wide range of buyers.
Property Prices: While limited in stock, Highgate’s property values are on the rise due to its desirability.
5. Brentwood
Overview: Brentwood is a family-friendly suburb located near the Canning River, providing a mix of tranquility and suburban living.
Growth Potential: Recent improvements in local infrastructure and shopping facilities have heightened interest in the area. The development of nearby transport options promises increased connectivity.
Property Prices: Brentwood offers varied housing options, and compared to more popular suburbs, it presents good value for money.
6. Lathlain
Overview: Lathlain is a vibrant suburb known for its community spirit and proximity to several sporting facilities, including the Perth Cricket Ground.
Growth Potential: With the planned redevelopments and investment in infrastructure, including the revitalisation of local parks and transport links, Lathlain is set for significant growth.
Property Prices: As demand rises, prices are expected to increase, presenting a solid opportunity for investors looking for growth potential.
Key Factors Influencing Growth
- Infrastructure Developments: Each suburb is benefiting from government-supported infrastructure projects that increase accessibility and improve local amenities.
- Transport Links: Proximity to public transport options enhances convenience for residents and contributes to rising property values.
- Demographic Changes: Understanding the demographics of these suburbs allows investors to target suitable properties based on local needs.
- Local Amenities: Good schools, parks, and shopping centers enhance the appeal and livability of these suburbs.
Market Forecast
Experts suggest that the next six months will see continued growth in these suburbs, particularly as infrastructure improvements come to fruition. With many buyers seeking value and lifestyle, these areas are set to attract attention.
Conclusion
As the Perth real estate market continues to evolve, Ashfield, Embleton, Koongamia, Highgate, Brentwood, and Lathlain stand out as promising suburbs for investment. Each offers unique qualities and exciting growth potential. For investors looking to capitalise on Perth’s burgeoning real estate landscape, exploring these areas could lead to rewarding opportunities.
For more insights and personalised advice on property investments in Perth, feel free to contact SHERLOCK Homes Group. We’re here to help you navigate the market and make informed.
Please note that the information provided in this blog is intended for general informational purposes only, and shouldn’t be construed as professional advice. It also may have changed between now and its time of publication, so we can’t guarantee its accuracy or completeness. As such, this means that we aren’t liable for any loss or damages arising from the use of the information provided in this post.