best places to Airbnb in Western Australia
Key Takeaways
- The low-priced real estate market and economic growth of Perth have helped many property investors enjoy financially rewarding experiences.
- Discover the advantages that real estate investors have when investing in Perth, WA.
- We unveil the 10 most profitable neighborhoods and nearby cities in Perth, Western Australia and also their recommended property types & their corresponding Airbnb data.
Introduction
Western Australia is full of thrilling and marvelous adventures where you can reconnect with yourself while enjoying the best natural landscapes. Taste the best wines of the country, visit the historical sites, or swim in the ocean waters, this state truly opens the doors to memorable experiences!
The capital of WA, Perth, is the best city to invest in Australia since it has a solid economy, great healthcare services, and educational system. In addition to this, you surely will love Perth if you’re a nature lover! The natural beauty that surrounds this metropolis is picturesque and enchanting with national parks, striking rivers and wineries.
Perth is also one of the most profitable Airbnb cities in Australia according to our previous blog. Furthermore, Airbnb mentioned Perth as one of the top destinations for 2023 international travel!
In this article, we’ll feature the best places to own an Airbnb in Western Australia including the top neighborhoods in Perth. You will also get to know some of the expectations for real estate investments in this city. Stoked to learn more? Then continue reading!
Why should you consider buying an investment property in Perth, WA?
Investing in rental properties in Perth can be a great way to generate a nice income stream because it offers attractive investment opportunities to real estate investors. Living or investing in this city means that you will enjoy beautiful natural sceneries & fascinating cultural experiences.
But what are the main reasons why investors should consider investing in Perth? Check out some of the reasons why doing real estate investment in Perth is a good choice:
Cheap housing market
One of the top advantages of investing in Perth is that its real estate market is quite affordable. In fact, the city is currently the most affordable state capital in Australia to own a house since the average property price in Perth is A$545,000.
As if the low real estate market prices weren’t enough, let me add another great aspect of Perth’s livability: it has a low living cost. According to Budget Direct, consumer prices, groceries and rent are less expensive than the national average.
Economic stability
Western Australia’s overall economy has been outperforming the rest of the country, and its labor market has been consistently growing since the onset of the pandemic. Furthermore, the unemployment rate is the lowest among the Australian states.
Perth enjoys a thriving economic expansion and is a hub for a plethora of job opportunities, with an unemployment rate of 3.8%. The sectors that contribute more to the city’s economic output are finances, resources and energy, mining, sciences, and technical services.
You will never get bored!
With one of the most pleasant weather conditions and a wider array of cultural and natural attractions, Perth surely draws the attention of national and international travelers alike.
Perth is surrounded by extraordinary national parks, wineries, and white sandy beaches. Thus, outdoor lovers will have plenty of things to do during their free time. But if you want to get in touch with the cultural scene of the city, there is no shortage of impressive art galleries, historic neighborhoods, great food establishments, and exciting festivals and events. So we can all agree that Perth is surely an interesting place for people of all ages.
Top market for Airbnb investment properties in Australia
Perth certainly has many positive sides such as its affordable real estate market, healthy economy, and a high standard of living. On top of that, Perth also stands out as one of the best places for Airbnb investment properties in Australia with many profitable opportunities for investors. So if you aim to achieve financial freedom, you should consider starting an Airbnb listing because it can help you create a nice rental income.
Is Airbnb Profitable in Perth, WA?
Are you concerned that your Airbnb listing in Perth or surrounding areas won’t make a good profit? Don’t fret anymore! Airbtics confirms that investing in real estate in Perth is indeed profitable.
Yet, you should keep in mind that the level of profitability depends on the property type and location. Besides, you should also consider the Airbnb Rules in Perth so that you can run your listing smoothly.
Based on Airbtics’ data, an Airbnb host can expect an average annual revenue of A$65,487 and a median occupancy rate of 97% for operating a 2-bedroom property in Perth. With over 2,359 Airbnb listings and a seasonality of 20%, Perth certainly is a catch for property investors!
10 Best Areas to Invest in Rental Properties around Perth, Western Australia
Perth is the largest city by area in Western Australia and the fourth most populous city in the country. It has more than 350 unique suburbs and there are many interesting cities located nearby as well. Thus, it’s understandable if you’re having a hard time choosing the best location to buy an investment property in Perth.
Check out the best neighborhoods and nearby cities in Perth, WA that are highly recommended for rental properties:
1. Scarborough, Perth
- Total Number of Airbnb Listings: 135
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): A$425,000
- Airbnb Annual revenue: A$83,540
- Gross rental yield: 19.66%
2. South Perth
- Total Number of Airbnb Listings: 73
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): A$349,000
- Airbnb Annual revenue: A$65,989
- Gross rental yield: 18.91%
3. Fremantle, Perth
- Total Number of Airbnb Listings: 208
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): A$430,000
- Airbnb Annual revenue: A$74,597
- Gross rental yield: 17.35%
4. East Perth
- Total Number of Airbnb Listings: 74
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): A$389,000
- Airbnb Annual revenue: A$68,523
- Gross rental yield: 17.62%
5. Rockingham, Perth
- Total Number of Airbnb Listings: 54
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): A$420,000
- Airbnb Annual revenue: A$67,876
- Gross rental yield: 16.16%
6. Maylands, Perth
- Total Number of Airbnb Listings: 48
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): A$309,000
- Airbnb Annual revenue: A$49,477
- Gross rental yield: 16.01%
7. Madurah, WA
- Distance from Perth: 71 kilometers
- Total Number of Airbnb Listings: 323
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): A$351,000
- Airbnb Annual revenue: A$60,697
- Gross rental yield: 17.29%
8. Busselton, WA
- Distance from Perth: 221kilometers
- Total Number of Airbnb Listings: 401
- Best bedroom size: 4 bedrooms
- Median property price (4 bedrooms): A$590,490
- Airbnb Annual revenue: A$90,803
- Gross rental yield: 15.38%
9. Dunsborough, WA
- Distance from Perth: 247 kilometers
- Total Number of Airbnb Listings: 427
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): A$867,500
- Airbnb Annual revenue: A$102,443
- Gross rental yield: 11.81%
10. Margaret River, WA
- Distance from Perth: 270 kilometers
- Total Number of Airbnb Listings: 322
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): A$632,500
- Airbnb Annual revenue: A$98,492
- Gross rental yield: 15.57%
Summary
Overall, investment properties in Perth offer promising opportunities to investors and Airbnb hosts alike. Western Australia has many profitable cities that guarantee the cash-on-cash return to investors, albeit it is always worth analyzing all the options with care. For this reason, we recommend making use of Airbtics’ free Airbnb profit estimator.
Now that you have a clear overview of the best places to Airbnb in Western Australia, take the next step by making use of the Airbnb analytics tool! This way you can make data-based decisions and improve your property investment strategies.
