Five Hot Places to Invest in Property in Western Australia

Though a large portion of the land in Western Australia remains unpopulated, some cities are experiencing significant growth. New construction efforts and a strong mining industry continue to bring more people to the western part of Australia. Today, nearly 2.5 million people live in Western Australia, and that number is only expected to increase over the next few decades. The Australian Bureau of Statistics (ABS) estimates that Perth’s population will grow more over the next 15 and 45 years than the population in any other capital city. Consider the following areas that are expected to grow for your next property investment.

1. Northbridge
It’s not always easy to predict the location of the next best investment area, but there are a few strategies investors use to find great deals. First, professional property investors suggest the areas where the government’s money goes.

With the City Link project, the Western Australia government is investing in areas like Northbridge. Though the area has always been separated from Perth’s Central Business District (CBD) by the Joondalup and Fremantle railway lines, the City Line project will sink the railways and develop a town square that links Northbridge to the CBD. Property values in Northbridge could very well see a substantial increase over the next decade.

2. Armadale
For years, Armadale has been known as one of the most undesirable areas in Western Australia. However, recent improvement efforts by the city seem to be working. In 2013, Australian Property Investor magazine named Armadale as the best location for investment properties in Western Australia. House prices are low on average and are expected to rise dramatically as the city grows over the next decade. The population is expected to increase by about 20,000 residents, and Armadale is working to bring better transportation, schools and entertainment options to the city.

3. Rockingham
Rockingham is a Perth suburb located along the beach. The city has grown by 20,000 residents since 2008 and is expected to continue growing over the next several years. With peaceful, clean beaches and a strip of popular wine bars and restaurants, Rockingham offers plenty of things to do in a beautiful setting. Residents can reach the train station from the beach in about 10 minutes, and the train offers easy access to Perth in about 30 or 40 minutes. As Rockingham continues to gain attention from families and couples who are looking for a quiet neighbourhood, expect property values to increase.

4. Wembley
Over the past several years, Wembley has also proven itself as a good investment opportunity with rising property values. Located near Lake Monger in Cambridge, Wembley is a popular western suburb. For workers with jobs in Perth, Wembley offers convenient transportation and access to the city. Families love Wembley because the area is a true neighbourhood with a welcoming community. Wembley residents enjoy the close proximity of quality schools, great shopping opportunities, local beaches and plenty of restaurants. The city is quiet, safe and highly appealing to young families, making it a promising investment spot for people looking to buy.

5. Victoria Park
Located near Perth’s CBD, Victoria Park is a popular inner suburb with more than 7,000 residents. Victoria Park offers investors a prime location and a range of available properties. The area is affordable and accessible for new residents and may offer high profits for interested investors. Though there are a few pockets with higher crime rates, other areas of Victoria Park are very nice and are popular with homebuyers who want a close location to Perth and access to the city’s numerous restaurants, pubs and shops.