Mullaloo, Perth Blue-Chip Coastal Growth & Lifestyle

In Mullaloo, houses are the main game. They have clear, reliable data: medians around $1.3m–$1.4m, ~14.1% recent annual growth, ~3.6–3.8% yields and strong liquidity. The unit market is tiny—at times there are no units for sale or rent—so reported growth and yield numbers can be distorted by a handful of sales. For most buyers and investors, detached homes should be the core focus.

Three main reasons: (1) an 84.5% owner-occupier rate and only 2.9% of houses on the market create real scarcity; (2) high median household incomes (~$2,447/week) and a mature, family demographic underpin borrowing power; and (3) the Ocean Reef Marina project is structurally re-rating the northern coastal corridor. Together these factors drive competition, negative vendor discounts and rapid capital appreciation.

Strong growth doesn’t automatically mean “bubble”. Mullaloo’s prices are anchored by real fundamentals: high incomes, very high owner-occupation, coastal amenity, strong schools and a major marina project. When you compare Mullaloo’s ~$1.3m–$1.4m median and ~14.1% growth to Sorrento’s ~$1.65m and ~3.3% growth, Mullaloo looks more like a market undergoing a catch-up re-pricing than a suburb that has run out of steam.

For houses, expect around 3.6–3.8% gross at current rents and prices—for example, ~$895/week rent on a ~$1.3m asset. For units, headline yields (~5.74%) are based on extremely limited data, so they shouldn’t be taken at face value. The real strength is the combination of solid house yields and very strong rental growth, which helps offset higher interest and holding costs over time.

On a typical Mullaloo house around $1.3m, WA general duty scales give an estimated stamp duty of about $58,066. That’s calculated as $28,453 plus 5.15% of the value above $725,000. Mullaloo is well above the first home buyer duty concession thresholds, so you should treat full duty as a non-negotiable cost on top of your deposit and other acquisition costs.

The Ocean Reef Marina is a ~$500m DevelopmentWA project transforming the existing boat harbour into a major mixed-use marina with >500 boat pens, commercial and residential precincts. Key milestones (breakwater completion, landside earthworks) are already in place, and new boat ramps and a holding jetty are due to be operating by Summer 2026, with full build-out expected around 2036. Mullaloo is perfectly positioned to benefit from the uplift in amenity and prestige without wearing the density of the marina itself, which is a major part of the long-term growth thesis.

Extremely. With only ~2.9% of houses on market, an average DOM of ~12 days and an average vendor discount of about -5.7% (i.e. properties selling above list price), buyers often have to move quickly and bid aggressively. Turning up without pre-approval or without capacity to stretch 5–7% above guide pricing is unlikely to be competitive on quality assets.

From a safety perspective, Mullaloo ranks very well—Top ~2% safest for offences against the person and Top ~19% for low stealing rates, which supports its blue-chip status. Environmentally, the City of Joondalup flags long-term coastal erosion as a risk for some foreshore locations over 50+ year horizons, and certain areas are designated bushfire prone, requiring BAL assessments for new builds. For standard suburban streets, the market clearly assigns more weight to immediate lifestyle benefits than to those long-dated risks, but it’s wise to check coastal hazard and bushfire overlays for any property you’re seriously considering.