With Perth’s property market being one of Australia’s most affordable, many interstate and overseas investors are turning their attention to the west. But if you’ve never been to Perth, how do you what the best suburbs for investment properties are?
That’s why we’ve written this guide so as an interstate investor, you’ve got confidence on building your Perth investment home.
If you have any questions not listed below, send us an email and we’ll get one of our team members to reach out.
Is now a good time to build in Perth?
Yes, because there are low interest rates, low vacancy rates, and house prices are expected to rise.
Interest rates were dropped by the Reserve Bank of Australia to help the country recover economically during the pandemic. By lowering financing costs, it helps borrowers with their repayments.
Vacancy rates were at their lowest in 40 years because more people moved back to Perth rather than leaving. Ex-pats and FIFO workers who were unable to fly took up residence in Perth, while border restrictions and quarantines prevented people from leaving.
House prices are rising because the demand for Perth’s properties is outstripping supply. And this increase is expected to continue as Perth continues to perform strongly both economically and socially, with few restrictions in place.
Should I build a new home or buy established?
Both options have their benefits, but one of the major benefits of building in this market is that you can build the home you want. Established homes are selling quickly, so unless you’re prepared to put in an offer within 48 hours, you’re likely to miss out.
Plus, you know exactly what you’re getting. Photos of established homes might not be the most accurate representation of what you’re buying, and fingers crossed a floor plan is included. With building, you get a list of every single item in your home- from the kitchen appliances, the colour and brand of the carpet, even the colour of the tile grout.
Maintenance is another factor. Many established homes that are for sale for months on end require a lot of attention. This means you’ll be paying your property manager to organise more costly maintenance visits. With new homes, you’re getting modern appliances that come with warranties for your peace of mind.
What Perth suburbs are good for investment properties?
There are many suburbs in Perth that will provide generous returns with low median prices and high rental demand. In fact, the majority of Perth suburbs have experienced growth in both their median sale price and the average rent! So some of our top picks that will provide long term growth are:
- Eglinton: This beachside suburb in Perth’s north will get it’s own train station, shopping centre, and more schools while benefiting from the future Yanchep Town Centre.
- South Guildford: Recent residential development has seen this suburb grow. It’s 5 minutes to wineries and pub in the Swan Valley, and on the other side is the Perth Airport.
- Piara Waters: Nearly 20 minutes south of Perth is where you will find leafy streets, plenty of parks, new schools and more amenities that every family looks for in their neighbourhood.
- Lakelands: This recently developed suburb is close to Mandurah and only a kilometre from the beach. Many first home buyers have chosen to build their family home, but there aren’t many rental properties available (at the time of writing, there are only 4). There’s already a huge shopping centre, a new public secondary school, and the freeway nearby. Plus, there new train station will be opening 2023.
We’ve been around since the 1960s and have seen how much Perth has transformed. We’ll work with you to figure out what your best investment strategy is and then provide the best land and house design to suit. Plus, with our in-house investment team, we’ve got access to extensive research tools. All you need to do is fill out the form and we’ll build your investment property in Perth.