Recent census data shows that inner-city living in Perth is growing, according to one agency.
Irene Limnios, managing director of Limnios Property Group, says the recent 2016 census data shows 21,797 residents who lived in inner-city Perth areas. East Perth, she points out, saw a population increase nearly double, from 5,753 to 10,595 residents from 2006 to 2016.
“This regeneration of the inner-city population is very good news for the local property market as it will result in a growing demand for rental homes as well as owner-occupier properties,” Ms Limnios said.
Ms Limnios also points out the census shows more than 35 per cent of residents in the inner-city area are young, between 25 to 34 years old, which is higher than the approximate 15 per cent for the rest of the state.
“The youth culture of the inner city is significant for property investors as one-bedroom apartments [are] in high demand by young renters, as many of them are single,” she said.
“In particular, apartments that are close to social amenities such as cafes are very popular with young people.
“Young people are attracted to the inner city because it is close to the major employment hub of the CBD and also because of the rich multicultural life of the inner city.”
Perth’s viability over the next 10 years is also described by Ms Limnios to increase with various infrastructure projects being developed.
“Over the next decade the population of the inner city is set to surge further, [with] major new infrastructure attracting more residents into the area such as the completion of massive City Link project in Northbridge as well as the foreshore development,” she said.