Investors
Invest in Palmyra
Palmyra West’s prime location within the established suburb of Palmyra offers excellent connectivity to Fremantle, the Perth CBD, and key lifestyle amenities. Its proximity to vibrant café strips, quality schools, parks, and the Swan River enhances its appeal to a wide range of buyers and tenants, including young families, professionals, and downsizers, making it a sought-after choice in Perth’s southern corridor.
POPULATION AND
DEMOGRAPHICS
Palmyra's demographic is predominantly middle-aged, with the average age of residents being 39.
Palmyra residents enjoy a robust average per capita income of $73,600, which is higher than the Greater Perth average of $65,900. This indicates a relatively affluent community with strong earning potential. In terms of employment, Palmyra boasts a high percentage of white-collar workers at 79%, significantly higher than the Greater Perth average of 69%.
Additionally, the proportion of lone-person households is notably higher in Palmyra at 36%, compared to 25% in Greater Perth, reflecting the area’s excellent connectivity and amenities
The City of Melville’s population is forecast to grow to 121,210 residents by 2036. This equates to a 1.1% annual
growth rate over the 15 years to 2036. Given that the City of Melville is an established area, this represents a
noteworthy level of population growth.
Source: ABS Census 2021 & WA Tomorrow Population Projections No.12 Central Band
36%
Lone-person households
27%
Rented Dwellings
79%
White-collar workers
1.1%
Annual Population Growth
RENTAL MARKET ANALYSIS
Perth has experienced a strong rental market, with indicative gross rental yields for houses and units outperforming those in other Australian capital cities, including Sydney, Brisbane, and Melbourne, in the 12 months to April 2025.
Palmyra has a strong rental market with high rental
yields and rental growth. Palmyra has seen high rental
growth at 8% for houses and 18% for units. This rental
growth outpaces levels seen across Greater Perth.
Rental yields in Palmyra at 3.7% for houses and 5.2% for units have outperformed the City of Melville.
Source: Pricefinder
18%
1 Year Median Rent Growth for Palmyra Units
5.2%
Indicative Gross Rental Yields in Palmyra
$650
Median Weekly Unit Rent in Palmyra
ACCESSIBILITY
AND CONNECTIVITY
Palmyra is an established suburb situated 4 km east of Fremantle and 12 km Southwest of the Perth CBD, providing excellent connectivity to the broader Perth region.
The suburb features a wide range of amenities for its residents, including public open space and a variety of entertainment and recreation options. The area features strong access to public transport and a range of educational choices close by.
MARKET INSIGHTS
Independent research by Urbis confirms the strength of the Palmyra market and the investment fundamentals driving demand for quality apartments in the area.
From demographic trends to rental yield data, this detailed report provides a clear picture of why Palmyra West is so well-positioned for long-term growth.