If you’ve long dreamt of relocating to a sprawling metropolis that beautifully blends all of the natural world’s elements with all of the amenities of a major city, Perth, Western Australia, is such a place.
Perfect for the budding corporate business or a family looking for their first home in a city that doesn’t feel like a city, Perth is Western Australia’s most populous city with a housing market to match. Are you looking to build your first home or buy on an existing plot of land for sale in Perth? No problem! Perth has plenty of availability for house hunters of all stripes!
Perth’s housing market is strong, with a median unit price of around $339,000 and an average house price of $555,000. Perth is the only capital city with steady growth despite the rising interest rates. Property enthusiasts, particularly those looking for land for sale in Perth, will find plenty of opportunities in Western Australia’s capital.
About Perth, Western Australia
Since its founding in 1829 by Captain James Stirling, sitting on the traditional Whadjuk lands, Perth has become a first-class city with sprawling suburban neighbourhoods not far from the perfect city for a family outing or an easy commute to a day job before returning to a quiet, tranquil suburb.
The diversity of Perth’s residential neighbourhoods appeals greatly to families and individuals looking to become first-time property owners or real estate investors looking to buy some residential land and build a home, whether you’re looking for an older neighbourhood like Central Perth that has kept much of its 19th and 18th-century facades but with hyper-modern interiors that you may expect of a central city district.
Northbridge is a vibrant neighbourhood, bustling with tourists and locals - a place for artisans and artists with dozens of small and large art galleries, a fantastic assortment of Asian cuisine, and summertime festivals like the Fringe World Festival. Northbridge is also home to the world-class yacht mooring of Elizabeth Quay.
Alternatively, East and West Perth provide fantastic options for the CBD-employed commuter - close enough to the CBD to make the commute enjoyable, particularly with Perth’s public transit options.
Perth’s Residential Land Market
If you’re house hunting in Perth and are looking for newly available land to build a residential property on, you’re in luck! Perth’s property market is generally separated into three types of homes: detached dwellings, condos, and townhouses. These require different land sizes to build upon safely, with proper zoning and permits.
On average, a piece of green land in Perth costs $607 per square metre. This is one of the highest prices in the country for land compared with other cities like Adelaide, but is eclipsed hugely by Sydney, where lot buyers paid $1,898 per square metre!
Those looking for land for sale in Perth may have better luck a little further afield. Some areas in North Perth list over 300 parcels of land for sale. These include arable farmland and commercially zoned properties less than an hour from the city.
Perfect for the middle-aged, remotely-employed couple looking for a hobby farm or a paradise retreat outside the city's hustle and bustle.
Different Sized Land Options in Perth
In general, units are built within the city limits and can be built high. Real estate investors tend to favour this type of development as they don’t pay too much for the land itself, as the parcels can be relatively small. For apartments built in 2022, the average 2-bedroom unit is roughly 36 square meters, with one-bedroom spaces measuring roughly 50 square meters. However, sizing has generally decreased over the last decade.
For those looking to buy land to put a new house on, there are more than thirty plots of land available from a single listing site, which places the average land value at approximately $650,000, stretching from 368 square metres, to almost double that at 787 square metres and above. Despite Perth having some of the smallest available land blocks in the country for housing, real estate investors and young landowners may be settling for less land and funkier-designed houses.
What Else is There to Love About Perth?
- The average salary of a person living in Perth is $142,000, whereas the average Australian salary is roughly $92,000.
- Living in the busiest city in Western Australia will provide ample opportunities to embrace the amenities, often within a few minutes' walking distance or use extensive public transport. You do not necessarily need a vehicle to live in Perth, even as a family.
- Perth is home to some of Western Australia’s most stunning animals and natural beauty, with diverse beaches, the Perth Zoo, and the fantastic Aquarium of Western Australia. Who can forget the delightful Quokkas?
- For outdoor enthusiasts who want to get away from it all for a while (and don’t enjoy beaches), you’re spoiled for choice in Perth. Along with the various walking trails close to the CBD in the King’s Park and Botanic Gardens, you can go further afield into the Perth Foreshore Trail, or a more difficult mountainous hike such as the Rocky Pool Walk, or up to Lesmurdie Falls.
Why You Should Invest in Land in Perth
In late 2022, the Australian government conducted a land release in Perth, which gave developers the right to build on land previously held by the Crown. This policy change paved the way for the development of 76,000 new homes.
In addition to the land releases, recent information indicates that property enthusiasts must act fast in Perth’s heated seller-favoured market! Perth properties remain on the market for only 18 days, whereas the national average is 34 days.
According to predictions, Perth’s housing values are set to have grown by 5% by the end of 2023, with further projected growth to more than $679,000 by June 2025, an increase of 4%. Even only as an addition to your portfolio of land estates in Perth, real estate investors can’t afford to pass up such a positive growth opportunity as exists in Perth’s residential real estate.
How PEET Can Help You Buy In Perth, Western Australia
As one of Australia’s premiere real estate developers, newcomers to Perth need look no further than PEET to help them achieve their real estate dreams, whether that’s investing in rental units in the bustling CBD or buying their first family home in any one of Perth’s stunning suburbs, PEET need be your only call.
A Diverse Portfolio
Perth is one of Western Australia’s greatest cities. From a real estate perspective, its diversity of properties is one reason why! Whether you’re looking for gorgeous oceanview apartments in the heart of the CBD or a quiet suburban family home a short drive or a public-transit commute to the city, our specialists at PEET can help you find the perfect family home in Perth.
Fantastic Investment Opportunities with Near-Guaranteed Returns
If you are a real estate investor, looking for an opportunity to branch out into residential dwellings, there’s perhaps no better place to invest than in a capital city of a major Australian territory. The diversity of needs within Perth and its surrounding suburbs nearly guarantees you a return on your investment! Whether buying and renting family housing or student apartments to those attending the University of Western Australia, PEET can help you choose the best option for a return on your investment.
We Stay Ahead of the Game
As real estate developers, it’s our business to know what the real estate market will need before it needs it. As such, we’re on top of market trends in the Perth area can provide you with the most up-to-date information on property values, trends and what’s currently on the market. Despite the speed of the Perth market, property enthusiasts can trust that we have all of the information you need to make the best decisions for you and your family.
Living in Perth is like living and breathing the heartbeat of Western Australia; a diverse mix of culture, language, people, nature and cosmopolitanism combine to produce a wondrous mix of family housing in the suburbs and business-like singles or couples renting townhouses or units within the CBD.
At PEET, our job is to develop properties to serve our community, whether they be families buying their first homes, students and businesspeople buying units, or real estate investors, paradisical Perth is waiting for opportunists like you..