As 2024 continues, the South Perth and Como real estate markets have shown interesting trends, with both suburbs reflecting shifts in buyer behaviour, median price growth and rental demand. Whether you’re considering an investment, family home or a rental property, here’s an in-depth look at what’s happening in these two dynamic areas with statistics from REIWA.
Como Real Estate Market Overview
In Como, the market has experienced significant growth over the past year, showcasing the suburb’s appeal and solidifying its position as a strong performer in Perth’s metro area.
- Sales Growth: 23.3%
- Median Sales Price: $1.32 million
- Rental Growth: 7.9%
- Median Rental Price: $750 per week
Sales Market in Como
Como’s impressive 23.3% sales growth highlights the suburb’s popularity among buyers. In particular, families and professionals are attracted by its mix of residential charm, proximity to the CBD and easy access to the Swan River. With the median sales price now at $1.32 million, Como is fast becoming one of the most sought-after locations, balancing lifestyle appeal and investment potential. This growth can be attributed to Como’s established community, quality amenities and convenient transport links.
Rental Market in Como
The rental market in Como has kept pace, with a strong 7.9% increase in rental prices, bringing the median rent to $750 per week. This uptick reflects growing demand from tenants drawn to Como’s community feel, lifestyle amenities and central location. For investors, this rental growth signals positive returns and stable demand, making Como a lucrative option in Perth’s rental market.
Nearby Suburb Comparisons
Como’s growth has outpaced many neighbouring areas, including Manning (18.8% sales growth), Kensington (8.3% growth) and even Bentley, which saw a 22.6% increase. However, the standout performer has been Karawara, with a remarkable 50% growth rate. These surrounding suburbs add value to Como’s appeal, enhancing its overall market competitiveness in the area.
South Perth Real Estate Market Overview
South Perth, long recognised as a premier location, has had a mixed year. While there has been a slight decline in sales growth, the suburb’s prestige and lifestyle offerings continue to make it a top choice for discerning buyers.
- Sales Growth: -6.1%
- Median Sales Price: $1.76 million
- Rental Growth: 6.7%
- Median Rental Price: $800 per week
Sales Market in South Perth
South Perth’s slight decline in sales growth, with a -6.1% rate, indicates a temporary cooling after years of strong performance. However, with a median sales price of $1.76 million, South Perth remains one of Perth’s premium suburbs, attracting buyers seeking luxury homes and investment properties. This market shift is expected as buyers look for value in nearby areas while still appreciating South Perth’s established charm, quality schools and riverside lifestyle.
Rental Market in South Perth
South Perth’s rental market, meanwhile, has seen growth, with a 6.7% increase in median rental prices, reaching $800 per week. The continued rental demand highlights the suburb’s strong appeal to tenants who appreciate the proximity to the city and South Perth’s unique lifestyle offerings. This rental growth demonstrates the suburb’s sustained desirability, providing investors with reliable returns.
Nearby Suburb Comparisons
Neighbouring areas have shown varied performance, with Como experiencing a 23.3% increase in sales, Kensington at 8.3% and Victoria Park seeing a 15.4% growth. These figures highlight the trend of some buyers shifting focus to nearby locations where property remains accessible but with promising growth potential.
Key Takeaways for Buyers, Sellers and Investors
For those considering South Perth or Como, here’s what these numbers mean:
- Buyers may find value in exploring both suburbs, as well as the surrounding neighbourhoods, depending on their budget and lifestyle preferences. While South Perth commands a higher median price, Como offers a more balanced entry point with equally compelling lifestyle amenities.
- Sellers in Como may benefit from the strong market, where increased sales and rental demand reflect solid buyer interest. South Perth sellers, on the other hand, can capitalise on the area’s prestige, as premium properties in the suburb continue to attract top-end buyers.
- Investors will find Como’s rental growth appealing, with promising returns and a competitive median rental price of $750 per week. In South Perth, the higher median rental at $800 per week, combined with the suburb’s allure, provides another reliable investment opportunity.
With strong performance across both suburbs and high demand in their surrounding areas, the Como and South Perth real estate markets are set to remain vibrant, appealing to diverse buyers and investors. Whether you’re aiming for high-end property in South Perth or value-driven growth in Como, both suburbs provide exciting opportunities in Perth’s evolving real estate landscape.