STANDOUT LOCATION:

4 City of Armadale

The Armadale LGA in the far south of Greater Perth offers the kind of value-for-money that has been attracting both home buyers and investors to Perth. Many of its suburbs have median house prices below $400,000, as well as good facilities and amenities.

While the biggest cities of Australia struggled in 2022, Perth thrived. There’s no reason why this won’t continue in 2023.

Perth remains the most affordable of the state and territory capital cities. It is underpinned by a strong state economy and it is attracting investors in large numbers because prices are attractive, vacancies are low and there are prospects for capital growth. It has become the nation’s No.1 target for investors.

Sales activity continued to be strong in the second half of 2022, pointing to price growth into 2023.

The strength of the Perth market has undoubtedly been the cheap areas. The municipalities of Rockingham, Armadale, Kwinana, Gosnells, Swan and Wanneroo – all places where houses costing in the $300,000s and $400,000s can be found – have thrived in the current climate.

The milliondollar suburbs have not been nearly as buoyant. In 2023 we will see the cheapest areas of Australia’s cheapest capital city selling homes in good numbers.

There are also growth markets in regional Western Australia, although the long-term market leader, Mandurah, is not quite as busy now as it has been over the past two years.

The hill-change areas east of Perth in the Mundaring LGA will attract good demand in the coming year, as will regional cities like Geraldton, Bunbury and Broome. Kalgoorlie is the most buoyant of the mining towns.