Major New Developments Set to Reshape Perth Neighbourhoods

Bulldozers are turning dirt in Joondalup, and cranes now dominate the skyline at the southern edge of Northbridge. Perth’s biggest wave of residential and mixed-use construction in more than a decade is now officially underway, with more than $2 billion in projects pushing ahead across the metro area in 2026.

Why the Rush Now?

Perth’s property market has surged to national prominence, with CoreLogic data putting WA’s median house price at $684,000 as of June – an all-time high. A sub-1% rental vacancy rate and persistent migration driven by the ongoing mining boom have left both home buyers and renters scrambling. Developers are now rushing to fill a supply gap that’s been years in the making. Urban planners at the City of Perth and the Metropolitan Redevelopment Authority say this wave of new projects could define the shape of the city for the next generation.

In Joondalup, Platform59 – a $290 million, three-tower residential project from Woodhouse & Co – broke ground last week, promising over 700 new apartments within walking distance of Lakeside Joondalup Shopping City and Edith Cowan University. Down in Northbridge, ECHO Investment Group has locked in building contracts for a new 20-storey student and build-to-rent hub straddling James Street and Roe Street, set to deliver 480 apartments by mid-2028. The State Government’s Local Jobs Local Projects program is underwriting dozens of apprenticeships and local tradie contracts on both sites, according to project statements lodged on 1 July.

What the Numbers Tell Us

With vacancy still below 1% citywide according to REIWA’s June figures, households remain under intense pressure, especially in growth corridors such as Wanneroo where vacancy recently hit a record low of 0.7%. Joondalup’s median unit price shot up 12.6% year-on-year to $452,000, reflecting pent-up demand ahead of completions in 2027–2028. In Northbridge, off-the-plan sales for ECHO’s flagship tower opened last month with one-bedroom units starting from $589,000 – a figure not seen in the precinct since before COVID-19.

According to Urbis, Perth will require an additional 55,000 dwellings over the next five years to prevent housing costs from spiralling further. The latest development approvals are a start, but builders warn that supply chain volatility could push back some scheduled completions.

For buyers and renters considering their next move, all eyes are on rollout dates. Analysts at Perth-based Paragon Property recommend monitoring project timelines and securing pre-sale reservations early for new builds around Joondalup, as demand is outstripping launches. The City of Perth has flagged ongoing consultation for infrastructure improvements in Northbridge to accommodate new residents, including upgrades to Russell Square and enhancements to bus and rail links. Locals can expect more congestion—and more café openings—on both sides of the city core in the next two years, as Perth’s skyline and streetscapes take on a new look.