There is a lot happening in Perth! The capital city has officially shaken off it’s “big country town” vibe and has transformed into a city that continues to grow. And we’re not just talking about job opportunities, but there are more attractions and activities that make families want to stay in the West.
If you’re a local, you’ve probably noticed the construction sites (and road works) that are making the city more liveable. But if you are based interstate and looking to invest in Perth, you might not know the full scope of works. That’s why we’ve listed some of the major projects that we are excited to see!
Did you know that Perth has the second longest metropolitan area in the world? We go from Two Rocks in the north and down to Mandurah in the south. So to help the growing population move around the city, a number of road and rail projects are in the works.
Metronet: This project is adding around 72km to Perth’s existing rail network and up to 22 new train stations. Many of the new train stations are based in Perth’s outer suburbs which will help property prices grow, with the land around the new train stations to provide more local shops and employment. Plus, there will be a rail link to the Perth Airport. You can read more about what suburbs will benefit from this project here.
Freeway extension: The Mitchell Freeway links the northern suburbs with Perth CBD and its expansion has been done in stages. Currently, the $232m project will add another 5.6km from Hester Avenue to Romeo Road in Alkimos. In the future, the freeway will extend all the way to Yanchep.
Education facilities play an important role in attracting tenants to a suburb. Firstly, families will look for schools for their children that perform well and are nearby. Secondly, quality universities attract overseas students that become active members of the community.
Primary and secondary schools: Perth has recently seen many new primary and secondary schools built to cater for the population growth. Most of these schools are in new growth suburbs like Baldivis, Dayton and Piara Waters, which encourages families to seek long term housing (and investors like long term tenants).
ECU City Campus: Approval has been given to Edith Cowan University’s newest campus in the heart of the CBD. This $695 million project is expected to open from 2025 and will also see the Western Australian Academy of Performing Arts (WAAPA) relocate to it.
It’s no surprise that the area with the most jobs is Perth CBD. From mining powerhouses to property technology start-ups, the city caters to a wide variety of businesses and services. However, new employment precincts are under construction across the metropolitan area. This is great news for Perth residents who don’t need to travel to the city. It also creates an opportunity for investors to build a home in an area close to a major employment precinct. You can read more information about the top employment locations in Perth here.
Yanchep: At the moment new homes are the main focus, but the vision for the area is for 55,000 new jobs that will include a hospital and tertiary campuses, as well as an industrial area.
Nambeelup: Located in the southern suburbs near Mandurah is the new Peel Business Park that will provide 33,000 new jobs over the coming decades.
Forrestdale: Businesses are already operating in the Forrestdale Business Park that will provide 15,000 new jobs with an industry focus.
Perth CBD will always remain the biggest activity hub in the state. But with a growing population, many projects are occurring in suburbs away from the city. These projects benefit the local community because residents don’t have to travel as far.
Murdoch Activity Centre: Already home to Murdoch University, Fiona Stanley Hospital and other medical facilities, the surrounding area will be transformed into a mixture of health-related opportunities. This project is expected to have 35,000 jobs, 22,000 residents and 44,000 students.
East Wanneroo: This 50 year plan will transform parts of Wanneroo, Mariginiup, Gnangara, Jandabup and Pinjar. It will see 150,000 residents, 50,000 new homes and up to 20,000 jobs, and there’s even talk of a train line running through the area.
There are plenty of activities happening in Perth that will see the rental demand for certain suburbs grow over the coming years. It can be hard seeing the whole picture if you’re based interstate, which is why our team are here to help. So if you’re looking to build an investment home in Perth, fill out the form below and our team can help.