Identifying the Top Suburbs to Invest in Across Perth is no easy task. Choosing the wrong suburb could result in poor rental returns, lack of tenant interest, and even significant property value depreciation. From the growth potential in Rivervale to the vibrant lifestyle in Subiaco, these Perth suburbs offer diverse opportunities that cater to both investors seeking strong returns and those prioritising quality of life.
I have compiled the Top 10 Suburbs, to help you make the best decision about your investment in Perth 2024. Continue reading below, to see the other top suburbs.
10. Joondalup (Total Score: 72/100)

Joondalup is a vibrant suburb with strong growth potential but faces challenges such as higher median house prices.
Scoring Criteria:
- Market Growth: 7/10
- Rental Yield: 6/10
- Employment Opportunities: 8/10
- Population Growth: 7/10
- Quality of Schools: 8/10
- Community and Lifestyle: 8/10
- Median House Price: 5/10
- Public Transport and Infrastructure: 8/10
- Local Amenities: 8/10
- Rental Vacancy Rate: 7/10
Joondalup hosts a variety of employment options with the presence of Joondalup Health Campus and ECU Joondalup, ensuring job stability for residents. According to recent statistics, employment rates in Joondalup have grown by 5% over the past year. Joondalup is known for its high-quality educational institutions, including Lake Joondalup Baptist College, which consistently ranks high in academic performance. Joondalup offers a rich community lifestyle with numerous parks, shopping centres, and recreational facilities like the HBF Arena. These amenities contribute to a high quality of life, attracting many young professionals. The Lakeside Joondalup Shopping City, the largest shopping centre in Western Australia, offers a vast array of retail and dining options, enhancing the convenience for residents.
With a median house price of above $800,000, Joondalup’s property prices are on the higher side, which may be a barrier for some investors. The rental yield in Joondalup is relatively moderate at around 4.5%, which is lower compared to some other suburbs. Although the rental market is generally strong, the vacancy rate has seen slight fluctuations, currently standing at 3%, which could pose a risk for investors.
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 stands out for its employment opportunities, quality of schools, community lifestyle, and local amenities. However, potential investors should consider the higher median house prices and moderate rental yields before making a decision.
9. Subiaco (Total Score: 74/100)

Subiaco offers a blend of historical charm and modern convenience but comes with a higher cost of living.
Scoring Criteria:
- Market Growth: 8/10
- Rental Yield: 6/10
- Employment Opportunities: 9/10
- Population Growth: 6/10
- Quality of Schools: 8/10
- Community and Lifestyle: 9/10
- Median House Price: 4/10
- Public Transport and Infrastructure: 8/10
- Local Amenities: 9/10
- Rental Vacancy Rate: 7/10
Subiaco’s proximity to Perth CBD and its own thriving business district make it a prime location for employment, with a variety of job opportunities in retail, healthcare, and professional services. Subiaco is renowned for its vibrant community, with plenty of cafes, restaurants, and entertainment options that appeal to young professionals. Subiaco Primary School and other nearby educational institutions offer excellent education, contributing to the suburb’s desirability. Kings Park and the Subiaco Arts Centre provide cultural and recreational opportunities, enhancing Subiaco’s appeal.
Subiaco’s median house price is $1,800,000, making it one of the more expensive suburbs in Perth. With rental yields around 3.8%, the returns on investment are relatively low. While stable, the population growth in Subiaco has been slower compared to emerging suburbs, which might impact long-term investment potential.
Median prices for Subiaco, WA (6008), as of Nov 2024:
- Houses – $1,810,000
- Units – $640,000
House and unit data provided by, https://www.realestate.com.au/wa/subiaco-6008/
Subiaco’s excellent employment opportunities, vibrant lifestyle, quality schools, and abundant local amenities make it an attractive investment option. However, the high median house prices and lower rental yields require careful consideration.
8. Victoria Park (Total Score: 75/100)

Victoria Park combines urban living with a strong community vibe but faces challenges with rental yields.
Scoring Criteria:
- Market Growth: 8/10
- Rental Yield: 6/10
- Employment Opportunities: 8/10
- Population Growth: 8/10
- Quality of Schools: 7/10
- Community and Lifestyle: 9/10
- Median House Price: 6/10
- Public Transport and Infrastructure: 9/10
- Local Amenities: 8/10
- Rental Vacancy Rate: 6/10
Victoria Park is well-serviced by public transport, including train stations and bus routes, ensuring easy access to Perth CBD and other areas. Victoria Park boasts a lively community with a variety of dining, entertainment, and shopping options, making it attractive to young professionals. Property values in Victoria Park have seen a steady increase, with a growth rate of 4% over the past year, indicating a healthy market. Victoria Park has experienced consistent population growth, driven by its desirable location and amenities.
The rental yield in Victoria Park is around 4.2%, which may not be as high as other investment options. While the schools are good, they are not as highly ranked as those in other top suburbs. The vacancy rate stands at 3.2%, which, while not alarming, is something investors should keep in mind.
Median prices for Victoria Park, WA (6100), as of Nov 2024:
- Houses – $1,881,000
- Units – $640,000
House and unit data provided by, https://www.realestate.com.au/wa/victoria-park-6100/
Victoria Park offers excellent public transport, a vibrant community, and strong market growth, making it a solid investment choice. However, investors should be aware of the moderate rental yields and consider the quality of schools if targeting families.
7. Scarborough (Total Score: 76/100)

Scarborough is known for its beachside lifestyle and solid investment growth but comes with a higher cost of living.
Scoring Criteria:
- Market Growth: 9/10
- Rental Yield: 7/10
- Employment Opportunities: 8/10
- Population Growth: 8/10
- Quality of Schools: 6/10
- Community and Lifestyle: 9/10
- Median House Price: 6/10
- Public Transport and Infrastructure: 7/10
- Local Amenities: 9/10
- Rental Vacancy Rate: 7/10
Scarborough has shown significant property value appreciation, with a 5% increase over the past year, making it an appealing investment. The beachside lifestyle is a major draw, with Scarborough Beach being a popular spot for both locals and tourists, enhancing the suburb’s appeal. Scarborough offers a variety of job opportunities in tourism, retail, and hospitality, supported by its thriving local economy. With numerous cafes, restaurants, and shopping centres, Scarborough provides residents with a high level of convenience and leisure options.
Scarborough’s median house price is around $1,200,000, which might be a barrier for some investors. While there are decent schools, they are not as highly ranked as those in other top suburbs. Public transport options are available but not as extensive as in some other suburbs, which could be a drawback for residents relying on public transport.
Median prices for Scarborough, WA (6019), as of Nov 2024:
- Houses – $1,220,000
- Units – $640,000
House and unit data provided by, https://www.realestate.com.au/wa/scarborough-6019/
Scarborough’s beachside lifestyle, strong market growth, and employment opportunities make it an attractive investment option. However, potential investors should consider the higher median house prices and the quality of schools when making their decision.
6. Leederville (Total Score: 77/100)

Leederville offers a vibrant, urban lifestyle with strong employment opportunities but faces challenges with rental yields.
Scoring Criteria:
- Market Growth: 8/10
- Rental Yield: 6
- Employment Opportunities: 9/10
- Population Growth: 7/10
- Quality of Schools: 7/10
- Community and Lifestyle: 9/10
- Median House Price: 5/10
- Public Transport and Infrastructure: 9/10
- Local Amenities: 9/10
- Rental Vacancy Rate: 8/10
Leederville is known for its vibrant lifestyle, with plenty of cafes, bars, and entertainment options that attract young professionals. Leederville’s proximity to Perth CBD and its own business hubs provide ample employment opportunities. Leederville is well-connected by public transport, with train and bus services offering easy access to various parts of Perth. Leederville offers a wide range of amenities, including shopping centres, parks, and cultural venues, enhancing the quality of life for residents.
The rental yield in Leederville is around 4.0%, which may not be as attractive for investors seeking high returns. With a median house price of $1,420,000, Leederville’s property prices are on the higher side. The schools in Leederville are good but not among the top-ranked in Perth, which might be a consideration for families.
Median prices for Leederville, WA (6007), as of Nov 2024:
- Houses – $1,422,500
- Units – $610,000
House and unit data provided by, https://www.realestate.com.au/wa/leederville-6007/
Leederville’s vibrant lifestyle, excellent employment opportunities, and strong public transport infrastructure make it a desirable investment choice. However, investors should weigh the moderate rental yields and higher median house prices before committing.
5. South Perth (Total Score: 78/100)

South Perth boasts a prestigious location with strong growth potential but comes with high property prices.
Scoring Criteria:
- Market Growth: 8/10
- Rental Yield: 7/10
- Employment Opportunities: 9/10
- Population Growth: 7/10
- Quality of Schools: 8/10
- Community and Lifestyle: 9/10
- Median House Price: 5/10
- Public Transport and Infrastructure: 8/10
- Local Amenities: 9/10
- Rental Vacancy Rate: 8/10
South Perth’s proximity to Perth CBD and scenic views of the Swan River make it a highly sought-after location. South Perth is home to some of the top schools in Perth, such as Wesley College, attracting families seeking quality education. South Perth offers a blend of urban living and natural beauty, with numerous parks, cafes, and cultural venues. South Perth is well-equipped with shopping centres, recreational facilities, and healthcare services, providing a high level of convenience.
South Perth’s median house price is $1,800,000, which can be a significant barrier for some investors. The rental yield in South Perth is around 3.9%, which is relatively low compared to other suburbs. While stable, the population growth in South Perth has been slower compared to emerging suburbs, potentially impacting long-term investment potential.
Median prices for South Perth, WA (6151), as of Nov 2024:
- Houses – $1,782,000
- Units – $620,000
House and unit data provided by, https://www.realestate.com.au/wa/south-perth-6151/
South Perth’s prestigious location, quality schools, and excellent amenities make it a prime investment choice. However, the high median house prices and lower rental yields require careful consideration by potential investors.
4. Mount Lawley (Total Score: 79/100)

Mount Lawley offers a mix of historic charm and modern convenience but comes with a higher cost of living.
Scoring Criteria:
- Market Growth: 8/10
- Rental Yield: 7/10
- Employment Opportunities: 9/10
- Population Growth: 7/10
- 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: 8/10
Mount Lawley is known for its historic architecture and charming streetscapes, attracting residents who appreciate character homes. Mount Lawley’s proximity to Perth CBD and local business districts provide ample employment opportunities. Mount Lawley offers a vibrant community with plenty of cafes, restaurants, and cultural venues, making it a popular choice for young professionals. Mount Lawley is well-equipped with shopping centres, parks, and recreational facilities, enhancing the quality of life for residents.
With a median house price of $1,500,000, Mount Lawley’s property prices are relatively high. The rental yield in Mount Lawley is around 4.2%, which may not be as attractive for investors seeking high returns. While stable, the population growth in Mount Lawley has been slower compared to emerging suburbs, which might impact long-term investment potential.
Median prices for Mount Lawley, WA (6050), as of Nov 2024:
- Houses – $1,555,000
- Units – $450,000
House and unit data provided by, https://www.realestate.com.au/wa/mount-lawley-6050/
Mount Lawley’s historic charm, excellent employment opportunities, vibrant community, and abundant amenities make it a desirable investment choice. However, the high median house prices and moderate rental yields require careful consideration by potential investors.
3. Inglewood (Total Score: 80/100)

Inglewood offers a balance of suburban living and urban convenience but faces challenges with rental yields.
Scoring Criteria:
- Market Growth: 8/10
- Rental Yield: 7/10
- Employment Opportunities: 8/10
- Population Growth: 8/10
- Quality of Schools: 8/10
- Community and Lifestyle: 9/10
- Median House Price: 7/10
- Public Transport and Infrastructure: 8/10
- Local Amenities: 8/10
- Rental Vacancy Rate: 9/10
Inglewood boasts a strong sense of community with regular events like the Inglewood Night Markets, fostering a vibrant local culture. Inglewood is well-connected by public transport, providing easy access to Perth CBD and surrounding areas. Inglewood offers several good schools, including Inglewood Primary School, which is highly regarded by local families. Inglewood has a variety of amenities, including shopping centres, parks, and recreational facilities, enhancing the quality of life for residents.
The rental yield in Inglewood is around 4.1%, which may not be as high as other investment options. With a median house price of $1,200,000, Inglewood’s property prices are relatively high. While steady, the market growth in Inglewood has been moderate compared to rapidly developing suburbs.
Median prices for Inglewood, WA (6052), as of Nov 2024:
- Houses – $1,207,500
- Units – $430,000
House and unit data provided by, https://www.realestate.com.au/wa/inglewood-6052/
Inglewood’s strong sense of community, excellent public transport, quality schools, and abundant amenities make it a solid investment choice. However, investors should be aware of the moderate rental yields and relatively high median house prices.
2. Bayswater (Total Score: 81/100)

Bayswater combines suburban charm with strong growth potential but faces challenges with rental yields.
Scoring Criteria:
- Market Growth: 9/10
- Rental Yield: 7/10
- Employment Opportunities: 8/10
- Population Growth: 9/10
- Quality of Schools: 7/10
- Community and Lifestyle: 9/10
- Median House Price: 6/10
- Public Transport and Infrastructure: 8/10
- Local Amenities: 9/10
- Rental Vacancy Rate: 9/10
Bayswater has shown significant property value appreciation, with a growth rate of 5% over the past year, indicating a healthy market. Bayswater offers a strong sense of community with regular events and a variety of dining and entertainment options. Bayswater is well-connected by public transport, providing easy access to Perth CBD and other areas. The rental vacancy rate in Bayswater is low, at around 2.5%, indicating a strong demand for rental properties.
The rental yield in Bayswater is around 4.3%, which may not be as high as other investment options. With a median house price of around $900,000, Bayswater’s property prices are relatively high. While there are good schools, they are not as highly ranked as those in other top suburbs.
Median prices for Bayswater, WA (6053), as of Nov 2024:
- Houses – $882,000
- Units – $395,000
House and unit data provided by, https://www.realestate.com.au/wa/bayswater-6053/
Bayswater’s strong market growth, sense of community, excellent public transport, and low rental vacancy rate make it a prime investment choice. However, potential investors should consider the moderate rental yields and median house prices.
1. Rivervale (Total Score: 83/100)

Rivervale offers excellent growth potential and a vibrant community but faces challenges with rental yields.
Scoring Criteria:
- Market Growth: 9/10
- Rental Yield: 8/10
- Employment Opportunities: 8/10
- Population Growth: 9/10
- Quality of Schools: 7/10
- Community and Lifestyle: 9/10
- Median House Price: 7/10
- Public Transport and Infrastructure: 9/10
- Local Amenities: 8/10
- Rental Vacancy Rate: 9/10
Rivervale has experienced strong property value appreciation, with a growth rate of 6% over the past year, indicating a robust market. Rivervale offers a vibrant community with a variety of dining, entertainment, and recreational options, attracting young professionals. Rivervale is well-connected by public transport, providing easy access to Perth CBD and other areas. Rivervale has seen significant population growth, driven by its desirable location and amenities.
The rental yield in Rivervale is around 4.5%, which may not be as high as other investment options. While there are good schools, they are not as highly ranked as those in other top suburbs. With a median house price of $780,000, Rivervale’s property prices are relatively high.
Median prices for Riverdale, WA (6103), as of Nov 2024:
- Houses – $780,000
- Units – $475,000
House and unit data provided by, https://www.realestate.com.au/wa/rivervale-6103/
Rivervale’s strong market growth, vibrant community, excellent public transport, and significant population growth make it the Top Investment Choice for 2024. However, investors should consider the moderate rental yields and median house prices before making their decision.
How I Scored Each Suburb
Market Growth
Market Growth evaluates the increase in property values over time in a suburb. This metric is crucial because it indicates the potential for capital appreciation and investment returns.
- A suburb scoring 1 would have stagnant or declining property values. For example, a suburb like Mirrabooka, which has seen little to no property value increase over the past few years, would score low on market growth.
- A suburb scoring 10 would have consistently high property value appreciation, indicating strong demand and investment potential. For example, a suburb like North Perth, which has experienced significant property value increases over the past year, would score high.
Rental Yield
Rental Yield measures the annual rental income as a percentage of the property’s value. This metric is vital for investors looking for regular income from their property.
- A suburb scoring 1 would have very low rental yields, making it less attractive for investors seeking regular income. For instance, a suburb like Bentley, with rental yields below 3%, would score low.
- A suburb scoring 10 would offer high rental yields, indicating a strong rental market and excellent income potential. For example, a suburb like Balga, with rental yields above 6%, would score high.
Employment Opportunities
Employment Opportunities assess the availability of jobs within or near the suburb. This metric is important as it affects the demand for housing in the area.
- A suburb scoring 1 would have limited employment opportunities, making it less attractive to potential residents. For example, a suburb like Kewdale, which lacks significant employment hubs, would score low.
- A suburb scoring 10 would be near major employment centres, offering ample job opportunities. For instance, a suburb like Burswood, close to Perth CBD and major business districts, would score high.
Population Growth
Population Growth measures the increase in the number of residents in a suburb. This metric is important because a growing population typically leads to higher demand for housing.
- A suburb scoring 1 would have stagnant or declining population numbers. For example, a suburb like Medina, which has seen little population growth, would score low.
- A suburb scoring 10 would have a rapidly growing population, indicating strong demand for housing. For instance, a suburb like Wellard, which has experienced significant population growth, would score high.
Quality of Schools
Quality of Schools evaluates the educational institutions in a suburb. This metric is important for families and can influence property demand and values.
- A suburb scoring 1 would have poorly rated schools, making it less desirable for families. For example, a suburb like Coolbellup, with schools that have lower ratings, would score low.
- A suburb scoring 10 would have top-rated schools, attracting families and boosting property demand. For instance, a suburb like Floreat, known for its excellent schools, would score high.
Community and Lifestyle
Community and Lifestyle assess the social and recreational amenities available in a suburb. This metric is important as it affects the overall desirability of the area.
- A suburb scoring 1 would lack community and lifestyle amenities, making it less attractive to residents. For example, a suburb like Cannington, with fewer recreational facilities, would score low.
- A suburb scoring 10 would offer a vibrant community and numerous lifestyle amenities. For instance, a suburb like Fremantle, known for its lively community and cultural scene, would score high.
Median House Price
Median House Price evaluates the affordability of homes in a suburb. This metric is crucial for investors looking to buy properties within their budget.
- A suburb scoring 1 would have extremely high median house prices, making it less accessible for many investors. For example, a suburb like Dalkeith, with a median house price over $2 million, would score low.
- A suburb scoring 10 would have more affordable median house prices, making it attractive for a wider range of investors. For instance, a suburb like Armadale, with a median house price below $400,000, would score high.
Public Transport and Infrastructure
Public Transport and Infrastructure assess the availability and quality of transport and infrastructure in a suburb. This metric is important for accessibility and convenience.
- A suburb scoring 1 would have poor public transport and infrastructure, making it less convenient for residents. For example, a suburb like Serpentine, with limited public transport options, would score low.
- A suburb scoring 10 would have excellent public transport and infrastructure, ensuring easy access to various parts of the city. For instance, a suburb like East Perth, with extensive public transport connections, would score high.
Local Amenities
Local Amenities evaluate the availability of shopping, dining, healthcare, and recreational facilities in a suburb. This metric is important as it affects the quality of life.
- A suburb scoring 1 would lack essential local amenities, making it less desirable for residents. For example, a suburb like Orelia, with fewer local amenities, would score low.
- A suburb scoring 10 would offer a wide range of local amenities, enhancing the convenience and lifestyle of its residents. For instance, a suburb like Claremont, known for its excellent amenities, would score high.
Rental Vacancy Rate
Rental Vacancy Rate measures the proportion of vacant rental properties in a suburb. This metric is important for investors as it indicates the demand for rental housing.
- A suburb scoring 1 would have a high rental vacancy rate, indicating weak demand for rental properties. For example, a suburb like Forrestdale, with a high vacancy rate, would score low.
- A suburb scoring 10 would have a low rental vacancy rate, indicating strong demand for rental housing. For instance, a suburb like Belmont, with a low vacancy rate, would score high.
My Research: A Blend of Data and Local Insights
To compile these suburb recommendations, I undertook a comprehensive blend of data analysis and local exploration. I reviewed property market reports from respected sources like CoreLogic, Domain, RPData and REIWA to assess market growth, rental yields, and median house prices. These reports provided great quantitative data, which was essential for an objective analysis of each suburb’s investment potential.
Additionally, I reviewed some demographic trends and population growth statistics from the Australian Bureau of Statistics (ABS), to gauge the long-term sustainability of each suburb, without this it would be difficult to recommend one suburb over another. Discussions too with a couple of local real estate agents and analysis of rental listings, further validated, things such as suburbs like Rivervale’s showing strong rental yield and low vacancy rates, making it one of my top pick for 2024.
During my visits to these suburbs, I gathered firsthand insights into their unique characteristics. In Joondalup, I explored Lakeside Joondalup Shopping City, engaging with local shop owners about the area’s economic activity and foot traffic. I visited a couple of key institutions like Joondalup Health Campus and Edith Cowan University to understand the employment opportunities fuelling the suburb’s growth. And in Rivervale I checked out The Camfield, one of Australia’s largest pubs, and exploring the Crown Perth entertainment complex. These locations underscored the suburb’s vibrant social scene and proximity to major employment hubs.
The vibrant community lifestyle was evident in my time spent at local cafés such as San Churro and Dome. In Subiaco, I frequented the bustling Rokeby Road, where I connected with business owners and residents, gaining an appreciation for the suburb’s dynamic employment scene and community vibe. The proximity to Kings Park and the Subiaco Arts Centre, is amazing, which underscored the rich cultural and recreational amenities that make Subiaco one of my prime investment choices for 2024.
In Conclusion
Investing in Perth’s property market in 2024 presents exciting opportunities, and our comprehensive analysis has identified the Top 10 Suburbs for 2024, that offer the best potential for growth, rental yield, and overall lifestyle.
Here is a quick summary, of My Top 10 recommendations:
- Rivervale (Total Score: 83/100)
- Bayswater (Total Score: 81/100)
- Inglewood (Total Score: 80/100)
- Mount Lawley (Total Score: 79/100)
- South Perth (Total Score: 78/100)
- Leederville (Total Score: 77/100)
- Scarborough (Total Score: 76/100)
- Victoria Park (Total Score: 75/100)
- Subiaco (Total Score: 74/100)
- Joondalup (Total Score: 72/100)
Joondalup and Subiaco offer strong employment opportunities and vibrant lifestyles but come with higher property prices. Victoria Park and Scarborough balance urban living and community appeal with moderate rental yields. Leederville and South Perth provide excellent infrastructure and amenities but at a higher cost. Mount Lawley and Inglewood offer historic charm and suburban convenience, respectively, with moderate rental yields. Bayswater and Rivervale combine growth potential with strong community vibes, making them top picks for investment.
These suburbs offer unique advantages, ensuring a suitable choice for every investor. For personalised guidance and to navigate the property market efficiently, consider using a professional residential buyer’s agent to help you find the best investment opportunities in Perth.