The Perth property market continues to evolve rapidly, and one of the clearest trends emerging is the creation of two distinct sectors of the market.
At one end, parts of Perth are super-heated, quite literally “on fire.” Demand continues to surge while available housing remains extremely limited. In many suburbs, quality properties are attracting multiple offers within days of hitting the market.
But the real story is unfolding in the more affordable segment of the market, where the largest concentration of buyers are competing.
This is where first home buyers, investors, and downsizers are all converging. Perth remains one of the most affordable capital city markets in Australia, and government initiatives like the 5% deposit guarantee scheme have turbo-charged buying capacity. Buyers who previously needed a 20% deposit can now enter the market much sooner, dramatically increasing competition for affordable homes.
Add to that strong population growth in Western Australia, driven by employment opportunities, lifestyle appeal the demand pressure becomes even clearer.
Buyer’s today are also highly focused on location fundamentals. Infrastructure, transport connectivity, and proximity to employment hubs are becoming key drivers of purchasing decisions.
This is where the City of Belmont is emerging as one of the most compelling opportunities in the Perth market. Suburbs such as Ascot, Rivervale, Belmont, Cloverdale, Redcliffe and Kewdale still offer a significant number of homes under $850,000, which is becoming increasingly rare in a market where prices have risen rapidly over the past few years.
When you consider what buyers are getting at that price point, the value becomes very clear.
The City of Belmont sits just minutes from the Perth CBD, close to Perth Airport, the Swan River, and major transport corridors. It also benefits from established infrastructure, strong local employment, and ongoing investment in the area. These fundamentals are exactly what today’s buyers are chasing.
Within the area, units, and apartments, particularly in Rivervale, are attracting growing attention from both investors and owner-occupiers. They offer an affordable entry point into a strategically located area with strong long-term fundamentals.
What makes the current moment particularly interesting is the extremely low level of available stock. Perth already has some of the lowest housing supply levels seen in decades, but in the City of Belmont the number of properties available for sale is even lower than the already incredibly tight Perth market. This combination of affordability, location, and limited supply is creating intense competition among buyers.
For property owners in the area, this represents a huge opportunity.
As demand continues to grow and supply remains constrained, well-located homes and apartments are attracting strong interest from a broad range of buyers looking to secure a foothold in one of Perth’s most strategically positioned areas.
If you are considering selling or simply want to understand the current value of your property in today’s market, I would welcome the opportunity to have a confidential conversation.
Andrew Huggins
Rivervale’s number one agent for the last 20 years
The City of Belmont’s leading agent for two decades
If you would like to discuss your property or the current market, feel free to get in touch.
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