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The Top 10 Best Suburbs for Investment in Perth in 2023

Australian real estate investors have always wondered where the best suburbs for investment in Perth are. This is because, throughout the rising interest rates and economic downturn in 2022, Perth has maintained a competitive housing market that continues to deliver price growth to landlords.

This makes Perth one of the best places to buy investment property in Australia, especially when compared to some of the other bigger cities in the country. In addition, Perth has experienced consistently low vacancy levels coupled with ever-increasing rental growth. The low vacancy rate is a result of significant government spending to improve housing infrastructure.

So, there are always great properties available at good house prices for investment in all of Perth’s suburbs. But, the question remains, which is the best suburb in Perth to buy property? At AB Realty, we’re committed to finding you the best deal and making sure your property reaches its full potential. We’ve compiled this article to help you on your investment journey by providing you with a ranking of Perth’s best suburbs for investment!

Top 10 Best Suburbs for Investment in Perth in 2023

10 of the Most Savvy Perth Suburbs to Invest in

The ranking of these suburbs is based on a variety of factors including distance to the city centre, yield rates, and the median rental price. This list should give any property investor a good idea of the best suburbs to purchase property in Perth.

1. Wanneroo

Wanneroo is slowly becoming its very own thriving city, and is without a doubt the best suburb for investment in Perth. With its rapidly growing population, there are always new tenants looking for a place to stay.

Whether you prefer individual tenants, families, or students, you will find the renters you’re looking for in Wanneroo. One key benefit to living in Wanneroo is that it’s close to both Perth CBD and Joondalup. The median house price in Wanneroo is around $400,000, making it a very affordable suburb to invest in.

Key suburb information

  • Distance to Perth city centre: 28 km
  • Rental yield: 5.2%
  • Median rent price: $508 weekly
  • Nearby attractions: Wanneroo Regional Museum, Yanchep National Park

2. Alkimos

Alkimos is one of the most in-demand coastal suburbs in WA. Situated to the north-west of the city, this suburb is a great choice for families looking for a bit of peace and quiet. The region has plenty of great residential zones, along with tons of natural beauty to admire.

The demand for investment in Alkimos has increased since the extension of the Mitchell Freeway and rail link to major cities became operational. If you’re looking to invest in a suburb with great beach views and unburdened bushland, Alkimos is perfect for your real estate needs!

Key suburb information

  • Distance to Perth city centre: 42 km
  • Rental yield: 5.4%
  • Median rent price: $405 weekly
  • Nearby attractions: Caversham Wildlife Park

3. Carramar

Carramar offers a great mix of nightlife, necessary amenities, and family privacy. It’s one of the best all-in-one suburbs on this list, which undoubtedly increases its demand for rentals and tenants.

Amenities in Carramar include a golf estate, plentiful gyms and parks, and the second-largest shopping precinct in the Perth region. The average price of an investment property in Carramar stands at around $470,000.

Key suburb information

  • Distance to Perth city centre: 34 km
  • Rental yield: 4.8%
  • Median rent price: $394 per week
  • Nearby attractions: The Aquarium of Western Australia

4. Joondalup

Joondalup has established itself as one of the student hotspots of Perth, boasting amenities such as Edith Cowan University, a local hospital, and a plethora of cultural and leisure locations.

The median price for a house in Joondalup sits at around $625,000, making it an affordable investment option, with plenty of tenants always searching for a rental home.

Key suburb information

  • Distance to Perth city centre: 28 km
  • Rental yield: 4.9%
  • Median rent price: $500 weekly
  • Nearby attractions: Yellagonga Regional Park, Hillary’s Boat Harbour

5. Ellenbrook

Ellenbrook is one of our top choices for family tenants out of all Perth neighbourhoods. This suburb boasts some of the most modern amenities in Western Australia including local parks, shopping precincts, schools, and affordable housing options.

Key suburb information

  • Distance to Perth city centre: 30 km
  • Rental yield: 5.5%
  • Median rent price: $460 weekly
  • Nearby attractions: Caversham Wildlife Park, Lake Fresca

6. Northbridge

Northbridge is a little bit different from the suburbs previously discussed in this list. This is because Northbridge is situated in the inner city of Perth, making it a closed urban suburb. This makes it a hotspot for renting, especially for young professionals, as the suburb is located near Perth’s central business district.

What makes Northbridge truly special, however, is that it is considered a major cultural hotspot of the city. There is plenty of art to see, performers to watch, and incredible international cuisine to try. People will always be enquiring about renting your Northbridge properties.

Key suburb information

  • Distance to Perth city centre: <1 km
  • Rental yield: 5.3%
  • Median rent price: $400 weekly  
  • Nearby attractions: State War Memorial, Kings Park and Botanic Garden

7. Orelia

Orelia is undeniably one of the best suburbs in Australia for property investment. Recent data shows that property investors receive returning capital gains of around 14.85%. This is because Orelia is situated in one of the most affordable housing sectors in Perth – the city of Kwinana.

For these reasons, Orelia is a suburb that all Perth property investors should consider when deciding where to buy a home to rent.

Key suburb information

  • Distance to Perth city centre: 35 km  
  • Rental yield: 6.2%
  • Median rent price: $370 weekly
  • Nearby attractions: WA Wartime Museum

8. Brabham

Located in the city of Swan, Brabham has been described by real estate investment gurus as one of the fastest-growing and most exciting suburbs in Perth. Brabham is a large residential area that still retains substantial areas of greenery, and is nearby many great attractions.

On average, a house in Brabham will set investors back around $400,000.

Key suburb information

  • Distance to Perth city centre: 23 km
  • Rental yield: 5.9%
  • Median rent price: $508 weekly
  • Nearby attractions: Whiteman Park, Swan Valley Cuddly Animal Farm

9. Armadale

Armadale is one of the most densely populated suburbs on this list. This is because it is located right on the intersection between South Western and Albany Highways. It also contains the terminus of the Armadale railway station, which is one of five major railway lines in Perth.

Armadale is one of the transportation hubs in the Western Australian region. Lots of people pass through each and every day, making it an economic hotspot for the city of Perth. You will never struggle to find tenants here, even if the rental yield is a little bit lower than other suburbs in Perth.

Key suburb information

  • Distance to Perth city centre: 36 km
  • Rental yield: 5%
  • Median rent price: $260 weekly  
  • Nearby attractions: Armadale Reptile and Wildlife Centre

10. Forrestfield

A major driver of rental yield and the average rental price in any given suburb is a growing economic infrastructure. Forrestfield is one such suburb where infrastructure growth is positively influencing the property investment market.

Forrestfield has recently obtained a new railway line, which couples brilliantly with the Forrestfield Airport. The time to invest in Forrestfield is now before it becomes a hotspot for real estate property purchases.

Key suburb information

  • Distance to Perth city centre: 19 km
  • Rental yield: 5.3%
  • Median rent price: $475 weekly  
  • Nearby attractions: Mundy Regional Park

Here is a summary of the key factors of our top 10 suburbs in Perth:

SuburbDistance to PerthRental yield 1Average weekly rent 2 
Wanneroo28 km5.2%$508
Alkimos42 km5.4%$405
Carramar34 km4.8%$394
Joondalup28 km4.9%$500
Ellenbrook30 km5.5%$460
Northbridge<1 km5.3%$400
Orelia35 km6.2%$370
Brabham23 km5.9%$508
Armadale36 km5%$260
Forrestfield19 km5.3%$475

1 Rental yield data obtained from: www.realestateinvestar.com.au 

2 Average rent price data obtained from: sqmresearch.com.au

Considerations to Make When Investing in Perth Real Estate

Key Considerations for Real Estate Investment in Perth

Living in Perth is highly regarded as extremely safe and happy. It has great coastal regions, plenty of superb attractions, and all the local amenities that individuals and families need in nearby proximity, regardless of the suburb you choose to live in.

Here are a few factors to consider when thinking about entering the Perth property market:

Low Crime Levels

Perth is ranked as one of the safest cities to live in, not only in Australia but in the world. According to the Berkshire Hathaway Travel Protection Agency, Perth scores 74/100 per cent in terms of city safety. This is based on data collected and analysed by GeoSure Global, a data science and risk-modelling company.

GeoSure has established safety scores for over 65,000 areas worldwide, based on eight key categories: women’s safety, physical harm, theft, health and medical, LGBTQ+ safety, political freedoms, and daytime/nighttime safety. GeoSure’s data indicates that Perth falls into the safest 28% of the world – clearly a sought-after destination.

This makes Perth a great destination for tourists and also a safe long-term choice for potential tenants and renters. This is a strong reason for you to consider investing in property in one of the suburbs mentioned above.

Weather and Liveability

The Perth lifestyle is unmatched when compared to most other cities around the world. Not only does Perth get over 3,000 hours of sunlight per year, but it is also a coastal region, so beautiful beaches and seaside scenery are always nearby.

According to property data and population growth, it is clear that people want to live in Perth. As a landlord, this should tell you that excellent property investment opportunities are waiting to be exploited.

Educational Facilities

Perth is one of the educational hubs of Australia. There are five world-class universities in the city and surrounding suburbs. By investing in a Perth-based property, there is always a good chance that students will contact you looking to rent.

Enlist the Help of Experienced Real Estate Agents

So, now you’re thinking of investing in Perth’s rental market? Well, we here at AB Realty want to make this investment opportunity come true for you!

Our experienced team of real estate agents can help you find property to buy in any one of the suburbs mentioned above. We can also help you find tenants to rent the property after purchase.

In short, we will do all the work for you, while leaving all the substantial decisions, like which property to purchase, up to you!

Contact one of our expert agents today to start your Perth investment journey!

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