Best Suburbs for Units and Apartments in Perth, WA, The 2026 Guide
If you're looking at units and apartments in Perth, WA, the market looks very different from the house market right now. Most inner and middle-ring suburbs that are completely out of reach for a house still have unit medians sitting well under the $850,000 scheme cap, which opens up government support that a house buyer in the same postcode simply cannot access.
That gap matters more than most buyers realise. Whether you're a first home buyer stretching toward inner-ring living, an investor looking for a manageable entry price, or someone downsizing out of a large family home, the unit market in Perth, WA covers a wide range of budgets and lifestyles, and the lending picture shifts considerably depending on which suburb you're targeting.
Our team helps buyers across Perth, WA navigate this comparison across 60+ lenders. The apartment and unit home loan side of it is where lender policy varies most, and that variation is worth understanding before you commit to a suburb.
Key takeaways
- 31 of 43 Perth suburbs with a unit median sit under the $850,000 cap.
- Unit medians run from $542,000 in Thornlie to $1.39 million in Cottesloe.
- Lender policy on minimum unit size and high-density postcodes affects approval.
What are the best suburbs for units and apartments in Perth, WA?
The strongest unit markets across Perth, WA are concentrated in two broad groups: inner and middle-ring suburbs where units remain the affordable entry point into an otherwise expensive area, and established coastal and lifestyle suburbs where apartments command premium prices but attract strong buyer demand. REIWA data shows unit medians running from $542,000 in Thornlie to $1,391,250 in Cottesloe, with 31 of the 43 tracked suburbs sitting under the $850,000 scheme cap.
Best-value suburbs for unit and apartment buyers in Perth
Morley has emerged as one of the more practical inner-north options for unit buyers. Its unit median of $680,000 sits comfortably under the cap and comes with the newly opened Morley station on the Ellenbrook line, opened December 2024, which has widened the suburb's appeal for buyers who commute.
- Median unit price: $680,000
- 12-month house growth: +17.2%
- Best suited for: first home buyers and investors wanting inner-north access with new rail infrastructure
Victoria Park offers one of the more compelling combinations for a unit buyer: a $600,000 unit median, a Victoria Park train station on the Armadale line, and about 5 km to the Perth CBD. For buyers wanting inner-ring living without the inner-ring house price, it punches above its weight.
- Median unit price: $600,000
- 12-month house growth: +19.3%
- Best suited for: first home buyers and young professionals wanting walkable inner-ring access
Bayswater sits about 7 km from the Perth CBD and connects to the Midland, Airport and Ellenbrook lines at Bayswater station, giving it one of the better transport positions in its price range. Its unit median of $615,000 keeps most buyers inside the scheme cap.
- Median unit price: $615,000
- 12-month house growth: +17.7%
- Best suited for: commuters and investors prioritising rail access and inner-north proximity
Cannington is one of the few Perth suburbs where both the house and unit medians sit under $850,000, making it one of the more accessible entries into established suburban living. The unit median is $620,000, and Cannington station connects to both the Armadale and Thornlie-Cockburn lines.
- Median unit price: $620,000
- 12-month house growth: +26.2%
- Best suited for: budget-conscious buyers wanting strong transport links and shopping access at Westfield Carousel
Rockingham sits about 40 km south of the Perth CBD with a unit median of $600,000 and a Mandurah line station, making it one of the most affordable rail-connected unit markets on the approved list.
- Median unit price: $600,000
- 12-month house growth: +17.7%
- Best suited for: first home buyers and investors seeking coastal access at an accessible price point
Source: REIWA (Landgate data, August 2026).
"We see a lot of buyers rule out the unit market based on what they hear about apartments in other cities, without realising how different Perth's unit stock actually is. Many of the middle-ring Perth suburbs have low-rise or small-block walk-up stock that lenders treat very differently from a high-rise CBD tower, and that distinction genuinely changes what's available to you."
Joe Del Borrello · Director, Launch Finance · Chat to the Launch team →
Established and premium suburbs for unit and apartment buyers in Perth
Subiaco sits about 4 km from the Perth CBD with a Subiaco station on the Fremantle line and a unit median of $827,000. That still sits under the $850,000 cap, which is notable given the suburb's proximity to King Edward Memorial Hospital for Women and St John of God Subiaco Hospital, making it popular with health sector buyers. The Subiaco Pavilion and Station Street Markets give it a lifestyle draw that sustains demand.
- Median unit price: $827,000
- 12-month house growth: +14.7%
- Best suited for: health professionals and lifestyle-focused buyers wanting inner-west access under the scheme cap
Fremantle anchors the southwestern end of the Fremantle line and has a unit median of $777,500. That sits under the $850,000 cap and gives buyers access to one of Perth's most established lifestyle precincts, the Fremantle Markets, Fishing Boat Harbour and Bathers Beach, at a price well below the western suburbs average.
- Median unit price: $777,500
- 12-month house growth: +14.6%
- Best suited for: lifestyle buyers, investors and downsizers drawn to the Fremantle arts and hospitality precinct
Scarborough has a unit median of $846,500, sitting just under the cap, with beach access at Scarborough Beach and the broader Karrinyup City retail precinct nearby. Buyers served by Glendalough or Stirling stations on the Joondalup line have a straightforward city commute.
- Median unit price: $846,500
- 12-month house growth: +21.2%
- Best suited for: beach-lifestyle buyers, investors and downsizers wanting coastal proximity without Cottesloe prices
Como sits about 6 km from the Perth CBD, served by Canning Bridge station on the Mandurah line, with a unit median of $860,000. It crosses the cap, which means scheme access depends on the specific purchase price rather than the suburb median. Neil McDougall Park and the Canning River foreshore make it a draw for downsizers and owner-occupiers who want inner-south living.
- Median unit price: $860,000
- 12-month house growth: +9.3%
- Best suited for: downsizers and owner-occupiers seeking riverside living close to the city
Nedlands is one of the most established suburbs on this list, with a unit median of $950,000 and the QEII Medical Centre, home to Sir Charles Gairdner Hospital and Perth Children's Hospital, on its doorstep. At that median, most buyers are well above the cap, and lending is assessed differently at higher LVRs. It's a suburb where the professional and healthcare buyer profile dominates.
- Median unit price: $950,000
- 12-month house growth: +12.0%
- Best suited for: healthcare professionals and prestige buyers wanting proximity to the QEII Medical Centre precinct
Source: REIWA (Landgate data, August 2026).
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What should unit and apartment buyers consider when choosing a suburb in Perth?
The suburb median is a starting point, not the whole answer. For unit buyers specifically, two things matter beyond the price: what the unit's internal size is, and how dense the apartment supply is in that postcode. Most mainstream lenders have a minimum internal living area, commonly around 50 square metres, and some set that floor at 40 square metres in lower-density areas. Below those thresholds the lender panel narrows considerably.
High-density postcodes, particularly those with large towers or significant new supply, also attract LVR restrictions from some lenders, who cap their exposure at 70% to 80% rather than the standard residential position. This doesn't prevent a purchase, but it changes the deposit you'll need and which lenders are worth approaching.
Transport access is the other consistent driver for unit buyers across Perth. Rail-connected suburbs, from Bayswater on the Ellenbrook line to Rockingham on the Mandurah line, consistently hold buyer demand better than bus-only suburbs, and that demand supports resale and rental appeal over time.
What do these medians mean for your deposit and borrowing?
The $850,000 price cap on the First Home Guarantee, the Family Home Guarantee and Help to Buy is the practical threshold that shapes this comparison. At that cap, 31 of the 43 Perth suburbs tracked by REIWA have a unit median under it, meaning a buyer using a 5% deposit scheme can access most of the unit market across the city without needing to restrict themselves to the outer corridors.
How the deposit routes compare for unit buyers:
- › First Home Guarantee (5% Deposit Scheme): 5% deposit · no LMI · Perth cap $850,000 · first home buyers only
- › Family Home Guarantee: 2% deposit · no LMI · Perth cap $850,000 · single parents, first home buyer status not required
- › Keystart Low Deposit Home Loan: 2% deposit · no LMI · property limit $860,000 · income limits apply
- › Standard loan with LMI: 5% to 10% deposit · LMI premium added to the loan · no price cap · opens access to above-cap suburbs
For suburbs where the unit median crosses the cap, such as Nedlands at $950,000 or Cottesloe at $1,391,250, a buyer needs either a larger deposit or LMI to bridge the gap. At an LVR of 90% on a $950,000 purchase, LMI adds approximately $19,500 to the loan. That cost is real, but it's worth comparing against the alternative of buying at a lower median in a suburb that doesn't suit your situation.
For most unit buyers in Perth's middle-ring suburbs, the combination of a sub-cap median and scheme access makes the borrowing picture more straightforward than it looks from the outside.
Source: REIWA (Landgate data, August 2026) and Housing Australia.
When does buying a unit in Perth not make sense?
Units aren't the right answer for every buyer's situation, and it's worth being honest about that. If your primary goal is maximising land content for capital growth over a long holding period, a house in a more affordable suburb will typically outperform a unit in a premium suburb over the same timeframe, even if the unit feels more convenient today.
Strata fees and owners' corporation levies are also a real ongoing cost that doesn't appear in a rental or repayment comparison. A well-managed building keeps those fees reasonable, but a building with deferred maintenance or a poorly funded sinking fund can turn what looks like an affordable purchase into an expensive one over time. A building inspection and a review of the strata records before exchange is money well spent.
Finally, if you're buying a unit as an investment and planning to negatively gear it against other income, it's worth understanding that from 1 July 2027 negative gearing on established residential property purchased after 12 May 2026 will be quarantined and can only be offset against future property income or capital gains. New builds remain exempt. That's not a reason to avoid the unit market, but it does change the tax position for an investor buying an established apartment today.
"When someone is choosing between a suburb at the median and a suburb above the cap, I usually ask them to work out the deposit difference first and then ask whether the gap is worth it for their situation. That conversation changes the answer more often than people expect, because the number on paper and the suburb that actually fits your life are often different suburbs."
Joe Del Borrello · Director, Launch Finance · Chat to the Launch team →
How does a mortgage broker help unit and apartment buyers in Perth, WA?
The lender policy differences on unit lending are more pronounced than they are on houses, and they sit in the detail that's not published side by side anywhere. Three policy differences move the outcome most for unit buyers, and comparing across a panel finds them.
- › Minimum size policy: some lenders set the floor at 50 sqm, others accept 40 sqm in lower-density locations. Applying to the wrong lender on a smaller unit can mean a decline the buyer never recovers from easily.
- › High-density postcode caps: lenders vary significantly on which postcodes they cap at 80% LVR and which they treat as standard residential. A suburb that looks fine on the approved list may still trigger a postcode restriction with the wrong lender.
- › Valuation approach on strata title: lenders use different valuation methods for units in older strata complexes versus new builds, and a valuation that comes in below the contract price leaves the buyer covering the shortfall in cash. Knowing which lenders value conservatively in a given postcode is the difference between a smooth settlement and a last-minute scramble.
Whether those three distinctions work in your favour depends on which lenders your broker has access to and on your specific unit, which is worth a conversation before you make an offer.
Frequently Asked Questions
Can unit and apartment buyers in Perth access the First Home Guarantee?
Yes, the First Home Guarantee applies to units and apartments on the same terms as houses. The Perth price cap is $850,000, and most unit medians across Perth sit under it, making the scheme accessible across a wide range of suburbs.
What minimum size do lenders require for a Perth unit?
Most mainstream lenders require an internal living area of at least 50 sqm, excluding car spaces and balconies. Some accept 40 sqm in lower-density areas, but the lender panel narrows below that threshold.
Does buying a unit in a high-density building affect my loan options?
Yes, some lenders cap their LVR at 80% in postcodes they classify as high-density, which means a larger deposit is needed. The policy differs between lenders, so the same building can be assessed differently depending on who you apply to.
Is a unit or a house a better investment in Perth?
That depends on your budget, holding period and what you're trying to achieve. Houses have typically outperformed units on capital growth over longer periods, but units in rail-connected middle-ring suburbs offer a more accessible entry price and often stronger rental demand relative to price.
Can investors still negatively gear a Perth apartment?
Investors who owned their property before 12 May 2026 keep full negative gearing. For established apartments purchased after that date, negative gearing losses will be quarantined from 1 July 2027 and can only offset future property income or capital gains. New builds remain fully exempt.
Should I use a mortgage broker or go to a bank for a unit purchase?
A mortgage broker, every time. Lender policy on minimum size, postcode density caps and strata valuation varies enough that the right lender for your specific unit is rarely the one you already bank with. A broker compares across the panel before you apply.
Your Next Steps
Buying a unit in Perth, WA means navigating a genuinely varied lending landscape, and the suburb you choose affects the lenders who'll look at your application almost as much as the deposit you bring. The right entry point for one buyer is the wrong one for another, and that's a decision worth getting clear before you start making offers.
If buying a unit or apartment is on your horizon, the next step is simple. Get in touch with the Launch Finance team or call 08 9367 4222. We'll work through where you stand across our 60+ lender panel.
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External Resources
Launch Finance · Perth, WA · Launch Finance Pty Ltd (ABN 17 163 528 701), Corporate Credit Representative 454041 of BLSSA Pty Ltd (ABN 69 117 651 760), Australian Credit Licence 391237 · General information only - this article does not constitute financial advice. Please consider your own circumstances and seek professional advice before making any financial decisions.
