Identifying the Top Suburbs to Invest in Across Western Australia can be a difficult task. Choose the wrong suburb, and you might face stagnant property values, high vacancy rates, and limited tenant demand. With thorough research and analysis of key metrics, I am able to present to you, the Top 10 Suburbs to Invest in 2024, that i have identified.
From the emerging growth of Alkimos to the steady demand in Canning Vale, these Western Australian suburbs offer a compelling mix of investment opportunities tailored to various strategies and goals.
10. Cockburn Central (Total Score: 72/100)
Cockburn Central offers a balanced mix of growth potential and community amenities, though it faces challenges with rental yield.
Scoring Criteria:
- Market Growth: 7/10
- Rental Yield: 5/10
- Employment Opportunities: 8/10
- Population Growth: 7/10
- Quality of Schools: 6/10
- Community and Lifestyle: 8/10
- Median House Price: 6/10
- Public Transport and Infrastructure: 9/10
- Local Amenities: 8/10
- Rental Vacancy Rate: 8/10
Cockburn Central is a major transport hub with a train station and bus interchange, ensuring easy connectivity to Perth CBD and surrounding areas. Recent upgrades to the infrastructure have significantly improved commute times. Cockburn Central boasts a lively atmosphere with numerous cafes, restaurants, and recreational facilities, including the Cockburn ARC, a state-of-the-art aquatic and recreation centre. Its proximity to the Australian Marine Complex and Jandakot City presents ample employment opportunities. The region has seen a 10% increase in job opportunities over the past year. Residents enjoy access to shopping centres like Cockburn Gateway, medical facilities, and educational institutions, enhancing the overall living experience.
The rental yield in Cockburn Central is currently below the state average, at approximately 3.5%. This can impact short-term investment returns. With a median house price of around $730,000, affordability might be a concern for some investors. While there are several good schools, Cockburn Central does not have any schools ranked in the top tier, which could be a drawback for families with children.
Median prices for Cockburn Central, WA (6164), as of Nov 2024:
- Houses – $730,000
- Units – $430,000
House and unit data provided by, https://www.realestate.com.au/wa/cockburn-central-6164/
Cockburn Central’s excellent connectivity, community amenities, and employment opportunities make it a strong contender for investment. However, potential investors should consider the lower rental yield and median house price as part of their decision-making process.
9. Baldivis (Total Score: 74/100)
Baldivis offers great community lifestyle and population growth, though its rental yield and school quality are moderate.
Scoring Criteria:
- Market Growth: 8/10
- Rental Yield: 6/10
- Employment Opportunities: 7/10
- Population Growth: 9/10
- Quality of Schools: 5/10
- Community and Lifestyle: 8/10
- Median House Price: 7/10
- Public Transport and Infrastructure: 6/10
- Local Amenities: 8/10
- Rental Vacancy Rate: 10/10
Baldivis has experienced a population boom, with a 15% increase over the past five years, driven by new housing developments and affordable living. The suburb offers a family-friendly atmosphere with parks, shopping centres like Stockland Baldivis, and numerous community events. Property values in Baldivis have shown steady growth, with a 6% increase in the past year, indicating a healthy real estate market. Baldivis boasts a low rental vacancy rate of just 1.8%, ensuring a steady demand for rental properties.
While there are several schools in Baldivis, none rank among the top in the state, which might be a consideration for families. Public transport options are limited compared to inner-city suburbs, which could be a drawback for commuters in Baldivis. But, the rental yield stands at around 4%, which is average for the region but might not appeal to investors looking for higher returns.
Median prices for Baldivis, WA (6171), as of Nov 2024:
- Houses – $675,000
- Units – $450,000
House and unit data provided by, https://www.realestate.com.au/wa/baldivis-6171/
Baldivis’ rapid population growth, community amenities, and low vacancy rates make it a promising suburb for investment. However, investors should weigh these positives against the moderate rental yield and quality of schools.
8. Joondalup (Total Score: 77/100)
Joondalup is known for its strong employment opportunities and comprehensive amenities, though it faces challenges with median house prices.
Scoring Criteria:
- Market Growth: 7/10
- Rental Yield: 6/10
- Employment Opportunities: 9/10
- Population Growth: 7/10
- Quality of Schools: 7/10
- Community and Lifestyle: 8/10
- Median House Price: 5/10
- Public Transport and Infrastructure: 9/10
- Local Amenities: 9/10
- Rental Vacancy Rate: 10/10
Home to major employers like Edith Cowan University and Joondalup Health Campus, Joondalup provides ample job opportunities within the suburb itself. The suburb has excellent transport links, including the Joondalup train station and an extensive bus network, making it highly accessible. Joondalup boasts comprehensive amenities, including Lakeside Joondalup Shopping City, one of the largest shopping centres in Western Australia, and various recreational facilities. The rental vacancy rate is remarkably low at 1.5%, ensuring strong demand for rental properties.
With a median house price of around $815,000, Joondalup can be less affordable for first-time investors. The rental yield is moderate at 4.2%, which might not be attractive for those seeking higher immediate returns. While Joondalup has shown steady growth, it is not as rapid as some emerging suburbs, which could affect long-term capital gains.
Median prices for Joondalup, WA (6027), as of Nov 2024:
- Houses – $815,000
- Units – $450,000
House and unit data provided by, https://www.realestate.com.au/wa/joondalup-6027/
Joondalup’s strong employment opportunities, public transport, and low vacancy rates make it an excellent investment choice. However, the higher median house price and moderate rental yield may require careful consideration.
7. Butler (Total Score: 78/100)
Butler offers strong population growth and community lifestyle, with some challenges in public transport and rental yield.
Scoring Criteria:
- Market Growth: 8/10
- Rental Yield: 7/10
- Employment Opportunities: 7/10
- Population Growth: 9/10
- Quality of Schools: 8/10
- Community and Lifestyle: 8/10
- Median House Price: 6/10
- Public Transport and Infrastructure: 7/10
- Local Amenities: 9/10
- Rental Vacancy Rate: 9/10
Butler has seen significant population growth, with a 12% increase in the past five years due to new residential developments. Butler offers a vibrant lifestyle with parks, shopping centres, and community events that attract young families and professionals. Property values in Butler have increased by 7% over the past year, reflecting a healthy and growing market. With a low vacancy rate of 1.7%, rental properties in Butler are in high demand, ensuring steady rental income for investors.
Public transport options are limited, which could be a drawback for those relying on public transit for commuting. The rental yield in Butler is around 4%, which is average for the area but might not be sufficient for investors looking for higher returns. The median house price for Butler of approximately $620,000, could be a barrier for some investors.
Median prices for Butler, WA (6036), as of Nov 2024:
- Houses – $620,000
- Units – $432,000
House and unit data provided by, https://www.realestate.com.au/wa/butler-6036/
Butler’s strong population growth, community amenities, and low vacancy rates make it a solid investment option. However, the limited public transport options and average rental yield should be considered by potential investors.
6. Rockingham (Total Score: 80/100)
Rockingham is known for its affordability and strong community lifestyle, with some concerns about public transport and employment opportunities.
Scoring Criteria:
- Market Growth: 9/10
- Rental Yield: 7/10
- Employment Opportunities: 6/10
- Population Growth: 8/10
- Quality of Schools: 7/10
- Community and Lifestyle: 9/10
- Median House Price: 8/10
- Public Transport and Infrastructure: 8/10
- Local Amenities: 9/10
- Rental Vacancy Rate: 9/10
With a median house price of around $660,000, Rockingham is one of the more affordable suburbs on this list, making it accessible to a broader range of investors. Rockingham boasts beautiful beaches, parks, and a strong sense of community, attracting both families and professionals. Property values in Rockingham have increased by 5% in the past year, indicating steady growth. Residents enjoy access to shopping centres, medical facilities, and recreational activities, enhancing the quality of life.
While Rockingham has public transport options, they are not as extensive as in some other suburbs, which could be a drawback for commuters. Rockingham has fewer local employment opportunities compared to others on this list, which could impact tenant demand. While there are several schools in Rockingham, none are ranked among the top in the state, which might be a consideration for families.
Median prices for Rockingham, WA (6168), as of Nov 2024:
- Houses – $659,000
- Units – $423,000
House and unit data provided by, https://www.realestate.com.au/wa/rockingham-6168/
Rockingham’s affordability, community lifestyle, and market growth make it an attractive investment opportunity. However, potential investors should consider the public transport and employment limitations.
5. Yanchep (Total Score: 81/100)
Yanchep is emerging as a strong investment suburb with its population growth and community amenities, despite some challenges in employment opportunities.
Scoring Criteria:
- Market Growth: 9/10
- Rental Yield: 7/10
- Employment Opportunities: 6/10
- Population Growth: 9/10
- Quality of Schools: 8/10
- Community and Lifestyle: 9/10
- Median House Price: 8/10
- Public Transport and Infrastructure: 8/10
- Local Amenities: 8/10
- Rental Vacancy Rate: 9/10
Yanchep has experienced a significant population increase, driven by new housing developments and its coastal location. Yanchep offers a relaxed coastal lifestyle with beautiful beaches, parks, and community facilities. Property values in Yanchep have shown steady growth, with a 6% increase in the past year. The low rental vacancy rate of 1.6% indicates strong demand for rental properties in the area.
Yanchep has fewer local employment opportunities compared to other suburbs, which could impact tenant demand. Public transport options are limited, which might be a concern for commuters. While there are schools in Yanchep, they do not rank among the top in the state, which could be a drawback for families.
Median prices for Yanchep, WA (6035), as of Nov 2024:
- Houses – $665,000
- Units – $530,000
House and unit data provided by, https://www.realestate.com.au/wa/yanchep-6035/
Yanchep’s population growth, community lifestyle, and low vacancy rates make it a promising investment suburb. However, investors should consider the limited employment opportunities and public transport options.
4. Midland (Total Score: 82/100)
Midland offers excellent employment opportunities and local amenities, though it faces challenges with median house prices and rental yield.
Scoring Criteria:
- Market Growth: 8/10
- Rental Yield: 6/10
- Employment Opportunities: 9/10
- Population Growth: 9/10
- Quality of Schools: 7/10
- Community and Lifestyle: 8/10
- Median House Price: 6/10
- Public Transport and Infrastructure: 9/10
- Local Amenities: 9/10
- Rental Vacancy Rate: 10/10
Midland is a major employment hub with various industries and the presence of Midland Gate Shopping Centre, Midland Health Campus, and several government offices. Midland offers extensive amenities, including shopping centres, medical facilities, and recreational activities, enhancing the quality of life for residents. Midland has excellent public transport links, including a train station and an extensive bus network, ensuring easy connectivity. The low rental vacancy rate of 1.5% ensures strong demand for rental properties, providing steady rental income for investors.
With a median house price of approximately $560,000, Midland can be less affordable for some investors. The rental yield is moderate at 4.2%, which might not appeal to investors looking for higher immediate returns. While Midland has shown steady growth, it is not as rapid as some emerging suburbs, which could affect long-term capital gains.
Median prices for Midland, WA (6056), as of Nov 2024:
- Houses – $560,000
- Units – $413,000
House and unit data provided by, https://www.realestate.com.au/wa/midland-6056/
Midland’s employment opportunities, local amenities, and low vacancy rates make it an excellent investment choice. However, the higher median house price and moderate rental yield may require careful consideration.
3. Ellenbrook (Total Score: 83/100)
Ellenbrook offers strong population growth and community amenities, though its rental yield and public transport are moderate.
Scoring Criteria:
- Market Growth: 9/10
- Rental Yield: 7/10
- Employment Opportunities: 8/10
- Population Growth: 9/10
- Quality of Schools: 8/10
- Community and Lifestyle: 9/10
- Median House Price: 7/10
- Public Transport and Infrastructure: 7/10
- Local Amenities: 9/10
- Rental Vacancy Rate: 10/10
Ellenbrook has experienced significant population growth, driven by new housing developments and its family-friendly environment. Ellenbrook offers a vibrant lifestyle with parks, shopping centres like Ellenbrook Central, and various community events. Property values in Ellenbrook have shown steady growth, with an 8% increase in the past year, reflecting a healthy real estate market. The low rental vacancy rate of 1.4% ensures strong demand for rental properties, providing steady rental income for investors.
Public transport options are limited, which might be a concern for commuters. The rental yield in Ellenbrook is around 4.5%, which is average for the area but might not be sufficient for investors looking for higher returns. While there are several schools in Ellenbrook, none rank among the top in the state, which could be a consideration for families.
Median prices for Ellenbrook, WA (6069), as of Nov 2024:
- Houses – $640,000
- Units – $450,000
House and unit data provided by, https://www.realestate.com.au/wa/ellenbrook-6069/
Ellenbrook’s population growth, community amenities, and low vacancy rates make it a strong investment suburb. However, the limited public transport options and average rental yield should be considered by potential investors.
2. Canning Vale (Total Score: 85/100)
Canning Vale offers strong employment opportunities and local amenities, with some challenges in rental yield and median house prices.
Scoring Criteria:
- Market Growth: 8/10
- Rental Yield: 7/10
- Employment Opportunities: 9/10
- Population Growth: 8/10
- Quality of Schools: 9/10
- Community and Lifestyle: 9/10
- Median House Price: 7/10
- Public Transport and Infrastructure: 9/10
- Local Amenities: 9/10
- Rental Vacancy Rate: 10/10
Canning Vale is a major employment hub with various industries, business parks, and proximity to the Jandakot Airport. Canning Vale offers extensive amenities, including shopping centres like Livingston Marketplace, medical facilities, and recreational activities, enhancing the quality of life for residents. Canning Vale has excellent public transport links, including the Thornlie train line and an extensive bus network, ensuring easy connectivity. Canning Vale boasts a vibrant lifestyle with parks, schools, and community centres, attracting both families and professionals.
With a median house price of around $900,000, Canning Vale can be less affordable for some investors. The rental yield is moderate at 4.5%, which might not appeal to investors looking for higher immediate returns. While Canning Vale has shown steady growth, it is not as rapid as some emerging suburbs, which could affect long-term capital gains.
Median prices for Canning Vale, WA (6155), as of Nov 2024:
- Houses – $899,000
- Units – $548,000
House and unit data provided by, https://www.realestate.com.au/wa/canning-vale-6155/
Canning Vale’s employment opportunities, local amenities, and excellent infrastructure make it an excellent investment choice. However, the higher median house price and moderate rental yield may require careful consideration.
1. Alkimos (Total Score: 86/100)
Alkimos offers exceptional population growth, community lifestyle, and potential for rental yield, making it the top investment suburb.
Scoring Criteria:
- Market Growth: 9/10
- Rental Yield: 9/10
- Employment Opportunities: 8/10
- Population Growth: 10/10
- Quality of Schools: 8/10
- Community and Lifestyle: 9/10
- Median House Price: 6/10
- Public Transport and Infrastructure: 8/10
- Local Amenities: 9/10
- Rental Vacancy Rate: 10/10
Alkimos has experienced an impressive 20% population increase over the past five years, driven by new residential developments and its coastal location. Alkimos offers a relaxed coastal lifestyle with beautiful beaches, parks, and community facilities, attracting young families and professionals. Property values in Alkimos have shown strong growth, with a 9% increase in the past year, indicating a healthy and expanding market. The low rental vacancy rate of 1.3% ensures strong demand for rental properties, providing steady rental income for investors.
While Alkimos is developing, it currently has fewer local employment opportunities compared to other suburbs, which could impact tenant demand. Public transport options are improving, but they are not yet as extensive as in inner-city suburbs, which might be a concern for commuters. The median house price of approximately $670,000 might be a barrier for some investors, though it is expected to appreciate further.
Median prices for Alkimos, WA (6038), as of Nov 2024:
- Houses – $670,000
- Units – $520,000
House and unit data provided by, https://www.realestate.com.au/wa/alkimos-6038/
Alkimos’ exceptional population growth, community lifestyle, and strong rental demand making it the number 1, Top Investment Suburb for 2024 in WA. However, investors should consider the current limitations in employment opportunities and public transport options as part of their decision-making process.
How I Scored Each Suburb
Market Growth
Market Growth reflects the increase in property values over time. It’s an important metric because it indicates the potential for capital gains.
- A suburb scoring 1 in market growth would have stagnant or declining property values, such as East Victoria Park, which has seen minimal property value appreciation over the past five years.
- A suburb scoring 10 would exhibit significant and consistent property value growth, like Wembley Downs, where property values have surged by over 15% in the past year.
Rental Yield
Rental Yield measures the return on investment from rental income. This metric is crucial for investors looking to generate steady income.
- A suburb scoring 1 in rental yield would have low rental returns relative to property prices, such as Crawley, where rental yields are below 2%.
- In contrast, a suburb scoring 10 would have high rental returns, like Forrestfield, where yields exceed 7%.
Employment Opportunities
Employment Opportunities consider the availability of jobs within or near the suburb. This is important as it affects the demand for housing from working professionals.
- A suburb scoring 1 in this category would have limited job opportunities, such as Jarrahdale, which has few local employers.
- A suburb scoring 10 would be a significant employment hub, like Osborne Park, known for its numerous businesses and industrial areas.
Population Growth
Population Growth looks at the increase in the number of residents over time. High population growth often indicates strong demand for housing.
- A suburb scoring 1 in population growth would have stagnant or declining population numbers, such as Mosman Park.
- A suburb scoring 10 would be experiencing rapid population growth, like Wellard, which has seen a population increase of over 20% in recent years.
Quality of Schools
Quality of Schools assesses the educational facilities available in the suburb. This is vital for families and impacts the long-term desirability of an area.
- A suburb scoring 1 would have poorly ranked schools, such as Girrawheen.
- A suburb scoring 10 would have top-tier schools, like Shenton Park, home to some of the highest-ranked schools in Western Australia.
Community and Lifestyle
Community and Lifestyle consider the overall liveability, including recreational facilities, community events, and the general vibe.
- A suburb scoring 1 would have limited lifestyle amenities, such as Armadale.
- A suburb scoring 10 would offer a vibrant community and numerous lifestyle options, like Fremantle, known for its lively arts scene and historic charm.
Median House Price
Median House Price evaluates the average cost of housing in the suburb. While not inherently good or bad, this metric helps assess affordability.
- A suburb scoring 1 would be highly unaffordable, such as Dalkeith, where median house prices exceed $2 million.
- A suburb scoring 10 would be highly affordable, like Lockridge, with median house prices around $300,000.
Public Transport and Infrastructure
Public Transport and Infrastructure look at the availability and quality of transportation and other infrastructure.
- A suburb scoring 1 would have poor transport links, such as Roleystone.
- A suburb scoring 10 would have excellent public transport and infrastructure, like Subiaco, with its comprehensive train and bus services and modern amenities.
Local Amenities
Local Amenities consider the availability of shopping centres, medical facilities, parks, and other conveniences.
- A suburb scoring 1 would lack essential amenities, like Bullsbrook.
- A suburb scoring 10 would be rich in amenities, such as Claremont, known for its high-end shopping precincts and extensive recreational facilities.
Rental Vacancy Rate
Rental Vacancy Rate measures the availability of rental properties. A low vacancy rate indicates strong demand and stability for investors.
- A suburb scoring 1 would have a high vacancy rate, like Victoria Park, where vacancy rates have been above 5%.
- A suburb scoring 10 would have a very low vacancy rate, such as Greenwood, where the vacancy rate is below 1%.
My Research: A Blend of Data and Local Insights
To compile this list of the Top 10 Suburbs to Invest in Western Australia, I employed a comprehensive approach that combined both numbers, with personal visits and local insights. My research started with a delve into various databases and resources, including the Australian Bureau of Statistics (ABS) for population growth figures and CoreLogic, Realestate.com.au and Domain for market trends and property value increases.
However, data alone does not tell the whole story. I attended many suburbs, for instance, in Cockburn Central, I enjoyed a cappuccino at The Coffee Club while observing the bustling activity around Cockburn Gateway Shopping Centre. Similarly, in Baldivis, I joined a community yoga session at the Baldivis Parks and experienced firsthand the vibrant community spirit that is often highlighted in local news articles.
In addition to these personal experiences, I referenced several reputable publications and news outlets to gather more context about each suburb. The West Australian and PerthNow provided valuable updates on local developments and infrastructure projects. I also consulted real estate-specific websites such as Domain, CoreLogic and Realestate.com.au to get up-to-date information on rental yields and vacancy rates.
Finally, I spoke directly with local residents and business owners to gain a deeper understanding of the community dynamics. In Joondalup, I had a delightful dinner at The Boat, where I chatted with patrons about the employment opportunities at nearby Edith Cowan University and Joondalup Health Campus. In Rockingham, I visited the popular Rustico Tapas & Wine Bar and discussed the local property market with fellow diners. These conversations provided invaluable insights that data alone could not capture, painting a fuller picture of each suburb’s investment potential.
In Conclusion
In summary, our extensive research and analysis have identified the Best Suburbs to Invest in across Western Australia for 2024. Each of these suburbs has been carefully evaluated, here are my Top 10 recommendations for WA:
- Alkimos (Total Score: 86/100)
- Canning Vale (Total Score: 85/100)
- Ellenbrook (Total Score: 83/100)
- Midland (Total Score: 82/100)
- Yanchep (Total Score: 81/100)
- Rockingham (Total Score: 80/100)
- Butler (Total Score: 78/100)
- Joondalup (Total Score: 77/100)
- Baldivis (Total Score: 74/100)
- Cockburn Central (Total Score: 72/100)
These suburbs across Western Australia, offer an opportunities for investors, from emerging markets with high growth potential to well-established areas with strong rental demand and reliable infrastructure. Alkimos and Canning Vale lead the list, both showing impressive market growth and development, while Ellenbrook and Midland present steady rental demand paired with ongoing infrastructure improvements.
By focusing on key criteria such as market growth, rental yield, and local infrastructure, highlighted in this analysis, you can make informed choices, that align with your investment objectives. Whether you’re looking at the growth potential of Yanchep and Rockingham or the steady returns offered by Butler and Joondalup. Each suburb offers unique strengths that cater to different investment strategies and financial goals.
If you need help navigating the complexities of the property market in WA and finding the right property, consider using a professional residential buyer’s agent. A buyer’s agent can provide expert guidance, access to off-market opportunities, and professional negotiation skills to ensure you secure the best possible deal. With their local knowledge and industry expertise, a buyer’s agent can be an invaluable resource in making a successful investment in Western Australia’s dynamic real estate market.