City of Melville - Metropolitan Perth, WA
The Perth market is showing signs of recovery - with improvements in vacancies, rents and sales activity - and one of the standout performers is the Melville LGA. Several of its suburbs have growing buyer activity and some have recorded price growth in the past 12 months.
Mount Pleasant has recorded a 17% increase in its median house price and Bull Creek has grown 8%. These rises are against the general trend in the Perth market at present.
Suburbs in the City of Melville straddle the inner-city and middle-ring areas of Perth. They benefit from being close to the major east-west transport corridor linking the Perth Airport to the Port of Fremantle. They also have good access to the Perth CBD.
Two suburbs within the Melville LGA are marked as major economic growth centres, while Murdoch, a precinct within the City of Melville, is already renowned as a major health and education hub. Further development is expected in this region.
The strong level of infrastructure spending targeted on the Melville precinct suggests this market is well-placed to grow as Perth enters the recovery phase.
This report covers Applecross, Ardross, Attadale, Bicton, Booragoon, Bull Creek, Kardinya, Leeming, Melville, Mount Pleasant, Palmyra and Willagee.