- Perth’s median house price has grown 14.3% over the past year, the second-fastest growth of any Australian capital city
- The suburbs featured in this guide have all more than doubled in value over the past decade, with some approaching 160% growth
- Rental yields vary significantly by suburb and property type, so comparing houses to houses and units to units matters more than looking at price growth alone.
Your rent just went up again. This is the second rent increase notice landed in your inbox this year, and you are wondering whether that money would be better spent building equity of your own. This is the exact position thousands of West Australians find themselves in right now, particularly renters watching Perth’s median weekly house rent climb toward $730. Buying in the right suburb could potentially mean swapping rising rent payments for the chance to build equity in one of Australia’s strongest-performing property markets.
According to the latest Ray White Now July report, Perth’s median house price has grown 14.3% over the past year, trailing only Darwin among the capitals. Loan Market’s latest Property Insights Report for Perth breaks this down further at the suburb level, and this guide pulls out the 10 Perth property hotspots worth watching right now.
Where should I buy an investment property in Perth right now?
The suburbs generating the strongest long-term growth across the greater Perth region sit largely in the outer south-east and southern corridors, including Armadale, Gosnells, Kwinana and the Mandurah area further south. These areas combine relatively affordable entry prices with a decade of consistent capital growth, some approaching a 160% increase in value. Buyers chasing the best Perth suburbs for long-term capital growth could subject any purchase to their own due diligence and lender eligibility criteria, since past growth never guarantees future performance.
These corridors have historically sat below Perth’s median house price, which made them accessible to first home buyers and investors working with smaller deposits. Over the past decade that affordability gap has narrowed considerably, though many of these suburbs still trade below the citywide median of $1.02 million. Across the same ten-year period, Perth houses have grown 100.4% and units 73.1%, according to the latest Ray White Now data, a useful reminder of just how much these Perth property hotspots have already delivered for long-term holders.
What today’s market conditions mean for buyers
Growth of this scale does not always continue in a straight line. A run of double-digit annual growth, like the 14.3 to 17.4% recorded across houses and units in some of these pockets, could potentially moderate as prices catch up with the rest of the metro area. No guarantees either way. Anyone considering a purchase here should treat historical figures as context rather than a promise, and speak with a broker about what borrowing capacity may be available given their own circumstances.
Buyers also have more to choose from than they did a year ago. The latest Perth Property Market Insight report shows new listings are up 22.9% compared with June last year, giving buyers more choice than they had during the supply-constrained market of previous years.
The top 10 Perth property hotspots ranked by 10-year growth
The table below ranks Perth’s top 10 suburbs by ten-year house price growth, based on Loan Market’s latest Property Insights Report for Perth. Calista leads the list at 160.5% growth over the decade, with every suburb featured recording growth above 129%.
These suburbs were not selected simply because prices have risen. They appear on this list because they have combined strong long-term capital growth with median prices that generally remain below Perth’s overall median, giving buyers an opportunity to balance affordability with proven historical performance. That combination of proven growth and relative affordability is what makes them the next boom suburbs in Perth worth watching.
| Rank | Suburb | Current median house price | 1-year growth | 10-year growth |
|---|---|---|---|---|
| 1 | Calista | $730K | 17.4% | 160.5% |
| 2 | Parmelia | $750K | 16.8% | 159.0% |
| 3 | Cooloongup | $780K | 16.0% | 157.3% |
| 4 | Armadale | $760K | 17.0% | 157.2% |
| 5 | Camillo | $760K | 16.9% | 153.2% |
| 6 | Greenfields | $740K | 16.2% | 148.3% |
| 7 | Mandurah | $740K | 16.8% | 140.5% |
| 8 | Warnbro | $820K | 15.6% | 137.8% |
| 9 | Waikiki | $860K | 15.1% | 129.6% |
| 10 | Gosnells | $790K | 16.3% | 129.4% |
Source: Loan Market’s latest Property Insights Report for Perth.
Notice something. Every single suburb on this list sits below Perth’s citywide median house price of $1.02 million, which is exactly why value hunters keep circling these postcodes.
Although these suburbs all recorded exceptional long-term growth, their entry prices vary by more than $130,000, from Calista at $730,000 through to Waikiki at $860,000. That difference alone could affect deposit requirements, borrowing capacity and which investment strategy suits a buyer best.
For buyers weighing where to buy affordable property in Perth with high yields, entry price alone only tells half the story. A suburb with strong capital growth but a thin rental yield suits a different strategy to one offering steady cash flow with more modest price gains, so it is worth deciding which outcome matters more before shortlisting.
South-east corridor hotspots around Armadale and Gosnells
Perth’s south-east corridor claims three spots on this list, and the growth here is no accident. The Armadale line runs through the heart of this corridor, connecting residents to the Perth CBD in around 40 minutes, and that rail link has kept demand building steadily even as prices climbed. Armadale leads the group at 157.2% growth over the decade and a $760,000 median, including 17.0% in the past year alone. Camillo sits close behind at 153.2% growth with the same $760,000 price point, while Gosnells rounds out the corridor at 129.4% growth and a $790,000 median. Gross rental yields in Armadale currently sit at approximately 4.61%. Three suburbs. One rail line. Same story.
Southern coastal corridor from Kwinana to Mandurah
The remaining seven spots on this list sit along Perth’s southern coastal corridor, and the pattern here comes down to jobs and transport. The Kwinana industrial precinct anchors steady blue-collar employment along this stretch, while the Mandurah line runs the length of the corridor and puts the Perth CBD within easy commuting distance. Calista leads the pack at 160.5% growth over the decade and a $730,000 median, with Parmelia, Cooloongup, Greenfields, Warnbro and Waikiki close behind, ranging from 129.6% to 159.0% growth and $750,000 to $860,000 in current medians. Mandurah, further south again, has still managed 140.5% growth with houses at a $740,000 median. Gross rental yields in Calista currently sit at approximately 4.52%. Seven suburbs stretched along one train line, all still trading well under Perth’s citywide median.
What Perth mortgage brokers are seeing on the ground
Brokers working across Perth’s south-east corridor are fielding a similar question on repeat: has the growth in these Perth property hotspots already happened, or is there more room to run?
“A lot of buyers assume they have missed the boat once a suburb starts making headlines, but what we are seeing on the ground is still steady inquiry from first home buyers and investors alike,” said Balpreet Bal of Loan Market Bal and Associates in Perth.
Many buyers spend weeks comparing suburbs, cross-referencing growth figures against price brackets and rental data, before ever checking what they could potentially borrow. Rarely the smart order. In reality, understanding borrowing capacity often narrows the search far faster than another weekend of inspections, and it depends on individual circumstances, lender policy and the property itself.
Your six-step roadmap to buying in a Perth hotspot suburb
- Get a clear picture of your borrowing position. Speak with a Loan Market broker about what you may be able to borrow, subject to lender eligibility and your personal circumstances, before you fall in love with a suburb.
- Shortlist two or three suburbs from the list above. Compare price growth, rental yields where available, amenities, employment centres and transport links rather than chasing the single highest-growth figure.
- Request rental yield data for each shortlisted suburb. This helps investors compare cash flow potential like for like across houses and units before ruling anything in or out.
- Get pre-approval in place. A conditional pre-approval, subject to final lender assessment, gives you a realistic budget to work with at inspections and auctions.
- Engage a local buyer’s agent or building inspector. On-the-ground knowledge of these suburbs could help you avoid overpaying or missing a defect that is not obvious at a single inspection.
- Make an offer with your broker on standby. Having your finance contact available during negotiations may help you move quickly once you find the right property.
Common questions about Perth property hotspots
What are the next boom suburbs in Perth?
Suburbs across Perth’s south-east and southern corridors, including Armadale, Gosnells, Cooloongup and the Mandurah region, have recorded the strongest ten-year growth in the city, some approaching 160%. These areas could potentially continue growing as affordability drives buyers further out, though this depends on broader market conditions and is not guaranteed.
Where can I buy affordable property in Perth with high yields?
Suburbs featured in this guide generally sit below Perth’s median house price of $1.02 million, offering a lower entry point for buyers. Rental yield varies by suburb and property type, and the figures for each suburb in this guide are listed above once confirmed.
How much deposit do I need to buy in a Perth hotspot suburb?
Deposit requirements depend on the lender, the property and your own financial circumstances, so there is no single figure that applies to every buyer. A Loan Market broker could potentially help you understand what deposit and borrowing capacity may be available to you, subject to lender eligibility.
Is Perth still a good place to invest in property?
Perth recorded the second-strongest annual house price growth of any Australian capital and the strongest annual unit growth, according to the latest Ray White Now data. The city has also continued recording strong rental demand and remains one of Australia’s faster-growing capital city markets, according to the latest Ray White and Loan Market data. Whether it suits an individual investor could potentially depend on their goals, timeframe and finance position, so professional advice is worth seeking before committing.
To wrap things up
Perth’s outer suburbs are giving buyers a genuine shot at long-term growth without the price tag of the inner city, and the Perth property hotspots featured in this guide are a solid starting point for that search, though every purchase should be weighed against your own circumstances and appetite for risk. If you’re ready to explore your options, speaking with a Perth Loan Market broker could help you understand what you may be able to borrow, subject to lender eligibility and your personal circumstances.
Speak to a Perth broker today about your own situation.
