Forrestfield is a residential suburb in Western Australia, sitting within the 6058 postcode. Located approximately 15km from the Perth CBD, the suburb is serviced by 6 schools and benefits from solid transport and amenity access.
Forrestfield has a population of approximately 13,181, a median age of 37, a median weekly household income of $1,800. With 73% owner-occupier rate, this is predominantly a homeowner market, which supports long-term price stability. Across the broader LGA, 31.9% of residents hold a university qualification.
Key employment industries in the broader local government area include Health Care and Social Assistance (12.4%), Construction (9.9%), Education and Training (9.4%).
The current median house price in Forrestfield is $795,000. The suburb has delivered strong average annual growth of 14.2% over the past five years, outperforming many comparable markets. In the past 12 months, prices have increased 12.3%.
Properties in Forrestfield spend an average of 12 days on market. Online buyer demand is currently rated as high online demand. Stock on market sits at 0.19%. With inventory levels at just 0.47 months, supply is tight relative to demand. The average vendor discount is -4.4%, meaning sellers are typically negotiating below asking price.
The median weekly rent for houses in Forrestfield is $680. Gross rental yield is 4.45%, providing a solid income return. The vacancy rate of 0.76% signals very strong rental demand. Rents have grown 4.62% over the past 12 months.
The broader local government area is forecast to grow from 59,524 to 60,385 residents by 2031 (1.4% growth).
Explore other suburb profiles in the area: Dianella, WA, High Wycombe, WA, Bellevue, WA, Middle Swan, WA, Midland, WA.
Handle Properties is a Sydney-based buyer's agency helping investors build portfolios of high-growth investment properties across Australia. If you are considering Forrestfield or need help identifying the right suburb for your strategy, get in touch with our team.
The quantitative data below has been compiled on 30th May 2023 from a range of third party sources using a variety of manual methods. Handle does not guarantee the accuracy of this data shown below.