Hillarys, Perth Premium Coastal Growth & Yield Hub

It depends on your goal. Houses (around $1.4m) are for buyers chasing long-term coastal capital growth, demographic safety and access to Hillarys Boat Harbour. Units (~$770k) are for buyers who want stronger income (4.66–5.0% yields) and are comfortable with slower capital growth and lower liquidity. If stretching to a house would leave you “asset rich, cash poor”, a well-located unit can be the smarter play.

Capital in Hillarys is primarily chasing land-rich, family houses—assets seen as non-substitutable. Units are often assessed more on yield. Over the last 12 months, house prices have surged (+12–20%) while unit prices slipped around -2.5%. At the same time unit rents jumped ~10%, which has actually improved yield. In effect, houses are the growth engine, while units are the buffered cash-flow play for tenants and investors priced out of the house market.

Strong growth doesn’t automatically mean “bubble”. Hillarys’ pricing is supported by structural fundamentals: 85%+ owner-occupation, mature professional demographics, a finite coastal land supply and ongoing government investment in Hillarys Boat Harbour. It also still sits below Sorrento on price, while offering similar lifestyle drawcards. The risk profile is more about timing and your holding power than the suburb’s underlying quality.

For houses, expect around 3.55–3.7% gross at current prices and rents (e.g. ~$885/week on a ~$1.4m asset). For units, 4.66–5.0% is realistic depending on configuration and location. Three-bedroom units tend to balance yield and tenant appeal better, while some 2-bed stock can sit longer on market despite high headline yields.

On a median house around $1.4m, WA general transfer duty comes in at roughly $63,440 (plus settlement and other costs). On a unit around $770k, duty is around ~$31,310. We can model your full cost position—including duty, LMI (if applicable), inspections and fees—before you start making offers in Hillarys.

Yes. Under the 2024 R-Code changes, a compliant granny flat up to 70m² can be built on lots of any size without separate planning approval (subject to setbacks and local rules). In Hillarys, where land is scarce and rents are strong, adding a secondary dwelling can significantly boost your blended yield and give flexibility for extended family or downsizers.

Very. Houses are typically clearing within 13–23 days, and there are often only a few dozen on the market at any time. Units have low overall sales volume (15–19 transactions/year), so when well-priced stock appears, it is closely watched by yield-focused investors. Turning up without pre-approval in this environment means you’re often watching the property sell to someone else.

Coastal erosion is a managed risk along the City of Joondalup shoreline, including between Hillarys Beach Park and Pinnaroo Point. The City undertakes ongoing monitoring, sand bypassing (~15,000m³ annually around the harbour) and is investigating long-term adaptation options. While these works protect key assets, they are costly and may place upward pressure on council rates over time. As always, check individual properties for specific coastal and topographical risks as part of your due diligence.