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Suburb Profile

The Western Suburbs have always been an aspirational location for people living in Perth – the clean, green leafy environment; easy access to the city and beach and good transport options; the range of schooling and higher education options available; the abundance of shopping and services and a wide range of employment opportunities all combine to make these some of Perth’s most sought-after areas to live.

Stirling Highway runs through the centre of Claremont and provides an efficient route to Fremantle and the Perth CBD. There are three train stations with the suburb providing a commute to the Perth CBD in approximately 11 minutes.

Essence is just a 3 minute walk to Perth’s premier shopping precinct, Claremont Quarter and Claremont’s leading bars and restaurants are within easy reach. The western side of Essence overlooks Claremont’s Tennis Club, Lake and Golf Course, and Claremont Pool, the Parkland and Train Station connecting Claremont to Fremantle and the Perth CBD are mere metres away.

The University of Western Australia, Perth’s top university, is just down the road, and some of Perth’s leading private schools including Scotch College, Methodist Ladies’ College and Christ Church Grammar are minutes away. The iconic Cottesloe Beach is a 5 minute drive and the Swan River is a scenic 15 minute walk.

Population Growth

Claremont’s resident population has increased 15.3% over the past decade. New bars, restaurants and shopping options have developed in response to recent growth and in combination with a range of redevelopments and future transport projects are expected to support forecast population growth of 18.3% over the next decade.

Capital Growth

Claremont’s inner city location, established infrastructure and expanding amenities have supported above average capital growth over the past decade. Units, terrace homes and apartments in Claremont have outperformed the broader Perth market over the past two decades. Listings for units, terrace homes and apartments in Claremont have declined 16% over the past 12 months.

Rental Demand

Claremont’s proximity to established employment centres, education options and the Swan River will continue to support high demand and above average returns for well-located and designed properties.

Our nearby project Aria in Swanbourne proved very popular when apartments were released to the market for rent, with some 40 apartments leased within the first month! Essence has the added benefits of an on-site boutique greengrocer, and the innovative Amana Living on-site presence offering services such as apartment cleaning and ironing to its residents, so we expect Essence will be very popular and should experience a strong level of rental demand upon completion.

We have prepared rental estimates for a range of apartment types in Essence, so no matter what your investment price point, ask one of our Senior Property Consultants to take you through the numbers, and help you decide whether an investment in Perth’s Western Suburbs is right for you!

The Opportunity

While many people living within Essence will be owner-occupiers, the development also presents an outstanding investment opportunity. This exceptional location, close to a range of amenities means that there is very strong capital growth potential and we expect strong rental demand. Price increases in property have historically come when there is a unique product with high demand in a great location.

One advantage of buying off-the-plan is that you can secure your ideal property now and not need to settle for around two years. All that is required is a 10% deposit. The deposit will be held in a secure trust account until settlement. Your personal property consultant will always be on standby to help you with anything you need.

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