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  • Meridian Australia

MARKET UNDER THE RADAR | SOUTH PERTH



The Meridian Australia research team have identified a key suburb in the South of Perth, located just 35 minutes from the CBD and 15 minutes to the popular Rockingham Beach.


The key southern Perth suburb of choice is a low residential housing market dominated by owner occupiers and highly demanded by young couples and families.

The suburb is geographically well-positioned only:

  • 12 minutes to Kwinana Town Centre

  • 35 minutes to Fremantle

  • 20 minutes to Murdoch University

  • 18 minutes to Perth Naval Base

  • 22 minutes to the Fiona Stanley Hospital Precinct

  • 15 minutes to Rockingham Beach

The market boasts a variety of parks, sporting facilities, and walking and bike tracks and has a mix of highly regarded public and private schools. The suburb also offers many shopping centres, cafes and childcare facilities assisting with the overall demand from future purchasers and investors alike.

The residential property market will also benefit from surrounding employment sectors such as the South Metropolitan TAFE Naval Base Campus located only 17 minutes from the suburb itself.

‘Opened in 2019, the Naval Base campus is a purpose-built facility designed to provide students and apprentices with hands-on experience in a real-life industry setting. This campus houses the delivery of heavy fabrication, marine fabrication, welding and composite apprenticeship training with a large focus on Western Australia’s growing shipbuilding industry.’ [1]

Key additional infrastructure is also taking place in the South of Perth. One key project is the world-class precinct at Henderson shipyard that is expected to commence work in 2023.

The Morrison Government will invest up to $4.3 billion to deliver Western Australia’s first large-vessel dry berth, creating a world-class precinct at the Henderson shipyard and supporting thousands of local jobs.

This will have a positive impact on the South region of Perth as a whole and create underlying demand for surrounding markets in the years to come.


Market Statistics.

  • 24% of the workforce in the suburb are Managers and Professionals. This is representative of an affluent, white-collar demographic [2]

  • 74% of the market is an owner occupier indicating the overall demand of the area but also assisting in reducing overall potential risk with only 23.4% renting [2]

  • Vacancy rates: Currently 0.4% (June 2022 - SQM Research) (a clear indication of an undersupplied market and increase pressure on rental prices) [3]

  • Rental yields are substantially high at 5.6% for houses. (July 2022) [3]


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Jarryd Gauci – Property Investment Consultant


P: (02) 9939 3249

E: [email protected]

W: www.meridianaustralia.com.au


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Disclaimer: When considering purchasing a property, it's always prudent to seek the advice of an appropriately qualified professional to determine which strategy is most appropriate for your circumstance.


References:

[1] https://www.southmetrotafe.wa.edu.au/campuses/naval-base

[2] 2016 Census data

[3] https://sqmresearch.com.au/

[4] https://www.minister.defence.gov.au/minister/peter-dutton/media-releases/multi-billion-dollar-large-ship-infrastructure-henderson#:~:text=The%20Morrison%20Government%20will%20invest,supporting%20thousands%20of%20local%20jobs