Perth WA

Perth Skyline

Perth is in a strong position to rebound from Australia’s pandemic-induced recession with a number of major development projects under way across the city. 

Western Australia could see some 20,000 people relocate to the state for employment opportunities in 2022.

Property analyst and valuer Gavin Hegney said there were not enough properties to cope with the influx.  “At the moment though we have less than 2000 properties available for rent and less than 10,000 properties that can be bought, meaning that we can only really handle an influx of 8000 people before our market is tight as a drum,” Mr Hegney said.

Perths residential market, which has still not recovered from the mining boom and slump—suffering a six-year downturn—is now tipped to outpace its east coast rivals due to a low reliance on tourism and population growth and rebounding iron ore sector.

Real Estate Institute of WA president Damian Collins said a housing shortage remains in Perth with not much stock and the rental market facing a new 40-year low vacancy rate.

The fact that builders are struggling to produce new housing due to the labour shortage in that space, it means not as much stock is going to be built as urgently needed,” Mr Collins said.

The institute has predicted median rent prices will increase between 10 and 15 per cent in 2022.

“Tenant demand will remain high in 2022, which will see rents continue to rise. Despite this, the Perth rental market is still very affordable, with WA tenants enjoying the cheapest rental market conditions in the country,” he said.

Demand for premium commercial space is also set to increase, as major players across the resources sector continue to strengthen their foothold in Western Australia.

Commercial development is picking up steam in the city’s massive waterfront precinct at Elizabeth Quay where the Metropolitan Redevelopment Authority is working on upgrading the infrastructure.
The project will include the creation of 10 private lots, an inlet that brings Swan River into the city, refurbishment of Barrack Square and many other improvements to transform the entire area.
Resources giant Chevron Australia, Brookfield Property Partners and AAIG are all currently undertaking major projects within this redevelopment.

To drive the infrastructure further is the Perth City deal, a $1.5 billion partnership between the Commonwealth Government, WA Government and the City of Perth to re-energise the city, bringing Government and private investment into the CBD and creating almost 10,000 jobs. 

Further infrastructure being built within the City is the Perth City Link, a series of projects to sink the northern rail line and create a 13.5 hectare site between the Perth Arena and Horseshoe Bridge.

edith cowan uni

Edith Cowan University Campus

A $695-million vertical Edith Cowan University campus will be built in the CBD as part of a $1.5-billion City Deal. The Creative Industries Business and Technology campus will be located next to Yagan Square, just north of the CBD, adjoining Perth Railway Station. Once complete, it will house 9000 students and staff, the Western Australian Academy of Performing Arts, the WA Screen Academy and the business, law and technology schools of the university. Edith Cowan University will put $300 million into the project, with $245 million coming from the federal government and $150 million in a land swap with the state government.

The Murdoch Health and Knowledge Precinct

The Murdoch Health and Knowledge Precinct, being delivered by DevelopmentWA, will become the Southern Corridor’s home to health research, medical care, higher education and innovative business development, delivering economic benefits for all Western Australia. Just 12km south of Perth’s CBD, the precinct will offer a new city centre, providing jobs for 35,000 Western Australians, education facilities for 44,000 students and homes for 22,000 residents. The ambitious project is part of the state government’s planning strategy to manage population growth in Perth, and meet demand for well-designed, connected centres where people can work close to home.


State Government’s Signature Metronet Rail Infrastructure

The state government’s signature Metronet rail infrastructure is another major priority project associated with significant urban renewal opportunities. The behind-schedule $4.1-billion rail program will deliver 72km of new passenger rail and up to 18 new stations. The Metronet plans include a rail link between Cockburn and Thornlie, a train line to Ellenbrook and extensions of the Midland and Armadale lines. They also include the redevelopment of more than 5000ha of land around new stations for housing, jobs and services for growing communities.

Haynes, City of Armadale

Sienna Wood Estate, Haynes

Nestled at the base of the Darling Range

Sienna Wood is located in the south east suburbs of Hilbert and Haynes just 30kms from the Perth CBD. Everyday necessities like schools, shopping and great transport links are within easy reach of Sienna Wood.

Nestled at the base of the Darling Range, the estate is conveniently located with Tonkin Highway and Kwinana Freeway close by, along with Armadale train station a short 4kms away.

The estate features a town centre with café and the famous shipwreck park. The innovative Shipwreck Park, which features a 30m shipwreck within 6000sqm of enclosed play space comprising musical components, slides and a flying fox, is a family favourite.

With almost 40 per cent of the estate dedicated parks and natural conservation and wide variety of house and land packages on offer, Sienna Wood suits a wide variety of different lifestyle and budget needs.

Sienna Wood, delivered in partnership with Stockland, will be home to almost 12,000 residents once complete.

Download the Sample PIA for a 3 bedroom, $430,000 house and Land package in Sienna Wood Estate

Download the Stocklands Sienna Wood Masterplan brochure 

John & Joanna, NSW

Compass has held our hand from day one, and we're very happy

Corey and Amy, SA

Their new home will allow them to rent out an existing Property