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Is this one of the most underrated suburbs in Perth?

Wednesday, 7th May 2014

innaloo 2

Innaloo is an established suburb located 9km north-west of the Perth CBD and part of the City of Stirling. Its neighbouring suburbs include Gwelup to the north, Doubleview to the west, Woodlands to the south and Osborne Park to the east.

With most of its development happening in the decades leading up to the 1970s, Innaloo consists mainly of older single detached homes. However, it now also features a scattering of modern units.

Residents of Innaloo appreciate its convenient location just a ten-minute drive to the city and a five-minute drive to popular Scarborough Beach.

The suburb also has many high quality schools and parklands and is close to Osborne Park Hospital, a major employer in the area.

Innaloo has its own major shopping centre (despite being close to Karrinyup Shopping Centre) and is home to many large-scale commercial and retail operations, including IKEA. It is also adjacent to Perth’s largest cinema complex.

A key feature of Innaloo is its excellent public transport options. It has direct access to Stirling train station and is well-serviced by a comprehensive bus network.

The median house price in Innaloo currently sits at $610,000 (REIWA) and the median unit price at $558,000. The median advertised rent is typically around $550 per week.

In a survey by Westpac, Realestate.com.au and RP Data, Innaloo was identified as one of Perth’s hidden property gems, offering excellent value for money compared to more expensive neighbours.

The future looks bright for Innaloo. It will benefit from ambitious plans to develop the Stirling City Centre, which includes the Innaloo shopping centre, cinema complex and a residential pocket within the suburb. The vision is to develop an integrated and modern, mixed use, transit-oriented centre around the Stirling train station.

It could also benefit from a planned redevelopment and expansion of the shopping centre by owner Westfield.

With older housing stock and favourable zoning, Innaloo offers numerous development possibilities, making it popular amongst investors and developers. Gradually, homes are being renovated or rebuilt, which is helping to revitalise the suburb.

People often make fun of its name, but Innaloo could be one of the most underrated suburbs in Perth and a potential gold mine for investors and developers.