property
Where Downsizers Are Moving In Perth Cbd, And Why
A wave of downsizers is reshaping Perth Cbd’s apartment market, drawn to lifestyle perks and fresh infrastructure around Elizabeth Quay and East Perth.
How we reported this
Mature homeowners across Perth Cbd are trading family homes for inner-city apartments at a pace not seen in years, with new developments in Elizabeth Quay and East Perth leading the charge.
This shift carries heft for local real estate because downsizers wield significant buying power and are influencing demand for specific building types. The trend is being fuelled by a mixture of ageing demographics, record-low rental vacancy rates, and the recent completion of landmark projects like the Ritz-Carlton on Geoffrey Bolton Avenue, making the city’s river edge more attractive for those seeking easy living and quality amenities.
Elizabeth Quay and East Perth: The Lure of Location
The majority of downsizers are targeting the stretch along Riverside Drive, lured by the proximity to Perth Concert Hall, Elizabeth Quay Train Station, and the expanded foreshore paths. The Towers at Elizabeth Quay and the latest precinct buildings under the MRA’s development banner have seen a steady uptick in inquiries from empty nesters looking to remain close to the city’s business, medical, and cultural amenities without the maintenance hassle of a standalone house.
East Perth is also seeing renewed interest, particularly around Claisebrook Cove. Boutique projects like Eastbrook Village on Royal Street are selling out two-bedroom stock. Local lifestyle drawcards such as the Optus Stadium walkways and free CAT bus connections appear to be high on checklist priorities for new residents downsizing from larger homes in the surrounds.
Apartment Prices, Short Supply Fuel Hotspot Status
According to CoreLogic’s June 2026 figures, the median price for a two-bedroom apartment in central Perth Cbd now sits at $625,000, up 8.5% year-on-year. The vacancy rate remains at a historic low of 1.1% for apartments within the 6000 postcode, reinforcing demand-side pressure. Sales agents along St Georges Terrace say downsizer buyers are acting fast, often pre-committing to off-plan stock in towers like Civic Heart or One28 on Adelaide Terrace, rather than risk missing out. Local conveyancers note a surge in sales with simultaneous settlements: retirees are selling in West Leederville or Mount Hawthorn and securing smaller, high-amenity dwellings cityside, with some using the proceeds to travel or support younger family members.
Urban planners from the City of Perth confirm that infrastructure upgrades, from new pedestrian bridges at Elizabeth Quay to ongoing enhancements at Stirling Gardens and the Waterfront Esplanade, are part of the appeal, giving newcomers confidence in the precinct’s ongoing liveability.
Looking ahead, agents tip that interest will remain strong as more purpose-built developments come to market. Downsizers considering Perth Cbd are advised to move quickly when new stock is released, consult strata specialists about outgoings, and visit open-for-inspection events early. Several projects are set to launch around Hay Street and Terrace Road in the next 12 months, suggesting there will be more choice, but competition for the best outlooks and floorplans is unlikely to ease soon.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.