Property

Why Invest in Perth Property?

The City of Perth is actively working to accelerate its density aspirations, setting a target to increase its residential population to 55,000 residents by 2036 under the City's Local Planning Strategy, with a long-term, aspirational target of 90,000 people by 2050.

As the long-term trend of population and economic growth in WA continues, additional apartments will be required to meet the growing demand for city living. To support the private sector to deliver the housing needed for 90,000 residents, the City is providing financial incentives to developers of residential properties across the apartment, co-living, build-to-rent and student accommodation sectors. These complement the incentives being rolled out by the State Government for housing supply.

The City actively works with key property stakeholders to advocate for changes to policy and legislation that will aid in accelerating population growth and unlock development. With all three levels of government and advocacy partners collaboratively driving population growth, through strong migration policy, housing stimulus and the reduction of barriers to development, there has never been a better time to invest in Perth.

For insights on the City’s Planning and Building Approvals values and processing timeframes see below.

Key Stats

Office Vacancy Rate
Perth’s CBD office vacancy rate has fallen to 15.6% (the lowest since 2015), with premium grade vacancy remaining low at just 6.6%.
Source: (Perth’s CBD Office market sees increased demand | The Property Tribune).

2.5% Perth’s Residential Vacancy Rate
The Perth residential investment market is the most competitive in Australia with a vacancy rate of just 2.5%
Source: (reiwa.com.au)

Retail vacancy rate
Perth’s retail vacancy rate 15.4% up from 15.1% in March 2024.
(Source: Y Research Study April 2025)