REIWA Reports 15% Annual Increase in Perth’s Industrial Land Values

The Real Estate Institute of Western Australia (REIWA) has confirmed what many in the sector already suspected — Perth’s industrial land values have jumped significantly over the past year. The latest figures show a 15% annual increase across key precincts, fuelled by continued low vacancy, strong occupier demand, and a growing wave of developer and investor activity. In an environment where construction costs have levelled out and leasing conditions favour landlords, the underlying value of industrial-zoned land is rising — fast.

Key Drivers Behind Perth’s Land Value Uplift

This surge isn’t speculative — it’s a direct response to the structural undersupply of industrial land and buildings across WA. Demand remains high for both owner-occupier and tenant-led builds, and with limited new estates reaching title-ready status, prices are reflecting urgency and competition.

• Long-term low vacancy forcing occupiers to seek D&C options or secure land directly

• Population growth and infrastructure upgrades increasing business presence in WA

• Owner-occupiers buying land to control future costs amid rising lease rates

• Investors looking to secure development sites in areas of strong rental yield growth

• Local councils approving more subdivisions, but not fast enough to meet demand

• Zoning constraints and fragmented landholdings keeping certain corridors tightly supplied

Where Land Values Have Increased the Most

While land prices have risen across Greater Perth, the sharpest increases have been seen in high-demand corridors with immediate access to freight routes and essential services. In some zones, values are now approaching — or even surpassing — pre-COVID east coast benchmarks.

• Forrestdale: Jumped from ~$320/sqm to ~$370–$400/sqm over 12 months

• Wangara: Northern corridor demand pushing prices to ~$500/sqm for small lots

• Wattleup: Large landholdings now valued at ~$250–$280/sqm depending on readiness

• Hope Valley / Kwinana: Special industry land up 20% YoY as large-format users commit

• Hazelmere: High demand pushing 2,000–5,000sqm blocks to ~$450+/sqm

• Cardup / Mundijong: Emerging areas still sub-$250/sqm but trending upward quickly

Developer and Investor Sentiment Across WA

Developers are racing to release titled lots in 2025 to capture value before cost of capital rises or macro conditions shift. Many are opting for smaller strata-style products in high-value areas, while land banking in outer areas remains a popular strategy for institutional investors.

• Increased pre-sale activity on undeveloped lots in active precincts

• National funds entering WA to diversify east coast asset exposure

• D&C agreements up 30% YoY as tenants seek future cost stability

• Industrial syndicates targeting large land banks in Cardup and Wattleup

• Private developers subdividing larger lots into smaller holdings for strata build-to-sell

• Developer-led IMs and renders helping push perceived value of raw land sites

The Role of Infrastructure in Supporting Growth

Land value growth isn’t happening in isolation. Major road, rail, and port infrastructure upgrades are reshaping how tenants and developers value land proximity. If your site has a clear infrastructure advantage, it’s now a serious competitive edge.

• Rowley Road and Anketell Road upgrades improving east–west freight flow

• Tonkin Highway Extension increasing appeal of Forrestdale and Cardup

• Kwinana Freeway links boosting Wattleup’s strategic positioning

• Intermodal rail terminal planning driving value in Latitude 32 and Hope Valley

• Infrastructure Australia identifying Perth’s south-west corridor as long-term logistics hub

How to Maximise Returns on Industrial Land

If you’re holding or marketing land in WA’s industrial corridors, now is the time to make it stand out. Values may have risen — but so has competition for tenant and investor attention. Visual storytelling and strategic marketing are what separates land that sells fast from land that lingers.

• Use 3D masterplans to visualise estate scale, zoning, access, and lot configuration

• Add aerial overlays showing proximity to roads, ports, and other industrial users

• Build visual D&C scenarios with flexible tenancy layouts and loading access

• Include comparable land value graphs and rental yield charts in your IM

• Target developers, strata investors, and owner-occupiers with tailored messaging

• Emphasise services, titles status, and build-readiness for immediate engagement

Why This Land Value Boom Matters

The 15% YoY increase isn’t just a WA success story — it signals a shift in how industrial land is valued nationwide. Perth is no longer a ‘cheap’ alternative — it’s a serious contender for investors, tenants, and developers who see long-term opportunity in the west.

• Rental yields remain strong compared to Sydney and Melbourne

• Long lease terms give WA assets lower risk profiles

• Strata warehouses selling at $3,000+/sqm in key precincts

• Owner-occupiers driving price competition with developers

• Early-stage landowners now realising potential 30%+ ROI on structured sales

How Commercial Property Marketing Can Help

We bring industrial land to life — literally. With high-end visuals, mapped overlays, interactive brochures and fully built-out IMs, we help landowners and developers show exactly why their asset is worth the asking price.