Suburb recently voted ‘Perth’s WORST town’ now buyers’ dream

Perth has been named as one of many high locations to put money into property in a nationwide report, with a much-maligned Armadale among the many listing of 10 native suburbs tipped to shine in 2023.

Canstar’s Rising Stars report cites Armadale — final 12 months voted Perth’s worst city in a separate ballot — among the many suburbs set to outperform Perth’s property market subsequent 12 months.

Comedian Russell Brand as soon as famously joked Armadale was solely value visiting for the specific goal of shopping for meth, however Canstar mentioned a latest and important leap in purchaser curiosity signifies many have already found its true worth.

Perth got here in third on a listing of 14 zones round Australia predicted to indicate progress in 2023 — behind Adelaide and Brisbane.

The report mentioned Perth had the most affordable median of all capital cities, a powerful underlying economic system and a major program of latest infrastructure works — such because the $2 billion Forrestfield-Perth Airport rail hyperlink — underpinning a gentle jobs market.

For the total listing of suburbs set to outperform Perth’s property market subsequent 12 months go to The West.

The report mentioned 60 per cent of Perth suburbs had rising gross sales exercise, placing it second on the nationwide listing for the metric — up from sixth in 2022.

“All this has given Perth a high overall rating — it ranks third among the 14 market jurisdictions, up from seventh in our report last year,” Canstar mentioned.

Independent property commentator Gavin Hegney argued Perth property had extra value potential in 2023 than Adelaide and Brisbane.

“In a normal market, Perth property is worth more than Adelaide, and we have not returned to this norm yet,” he mentioned. “Brisbane has already had its run, with a lot of people moving there from Sydney and Melbourne, and it is well-placed in the national property hierarchy.”