New Builds, Big Demand: Is Alkimos-Eglinton Perth's Next Investment Hotspot?

If you're weighing up where to put your next investment dollar in Perth's north, Alkimos and Eglinton deserve a proper look. This isn't a hunch. The numbers, the infrastructure spend, and the government's own budget priorities all point the same direction.

The growth is real, not projected

Alkimos and Eglinton's combined population has grown by close to 89% since the 2021 Census, and most of that growth has come from people moving here from interstate.[1] That's not a slow trickle. That's a suburb corridor being built out in real time to keep up with people who are already arriving.

The infrastructure is following the people, not the other way around. Alkimos already has its own Transperth train station, with an aquatic and recreation centre under construction next to it. Eglinton is getting its own station too, anchoring a new town centre that includes the Eglinton Village Shopping Centre, a Woolworths-anchored development due to open in the middle of this year.[1] Four new schools are being built across Alkimos and Eglinton, backed by state government funding, specifically to keep pace with the number of young families settling in the area.[2]

What this means for rental demand

More people, more schools, more transport links, more shops. That combination tends to translate into steady tenant demand, and the early data backs it up. House rents in Alkimos have climbed 4.6% over the past year to around $680 a week, and vacancy in the broader corridor is sitting in a healthy, undersupplied range rather than a soft one.[4] For a landlord, that's the kind of tenant pool you want, working families who are choosing the area on purpose, not settling for it.

The government benefits worth knowing about

Here's the part a lot of investors miss. The 2026-27 WA State Budget didn't touch land tax or introduce any new investor taxes, so the settings you're used to remain in place.[3] More usefully, the government extended and expanded the off-the-plan transfer duty concession through to 30 June 2028, and this isn't limited to first home buyers. If you're purchasing a new build off the plan, whether that's an apartment, a townhouse, or a survey-strata dwelling, you may be eligible for a reduced rate of stamp duty on properties up to $900,000, with a full concession available below $800,000.[3]

I'll be upfront that the First Home Owner Grant itself is only available to owner-occupiers, not investors, so that specific benefit doesn't apply if you're buying to rent out. But the off-the-plan duty concession is genuinely open to investors, and combined with the area's growth trajectory, it's worth running the numbers on before you rule a new build out.

The federal changes make new builds even more relevant

There's a bigger reason to pay attention to new builds in Alkimos and Eglinton right now, and this one comes from Canberra, not Perth. The Federal Budget handed down in May 2026 is winding back negative gearing for established property. From 1 July 2027, if you purchase an established home after 7:30pm on 12 May 2026, any rental loss can only be offset against rental income or future capital gains, not your salary or other personal income.[6] Existing investment properties are grandfathered and unaffected by this, so if you already own established stock, nothing changes for you.

New builds are treated completely differently under the same reform. [6] The capital gains tax discount is changing too. From 1 July 2027, the current 50% CGT discount is being replaced with cost base indexation and a minimum 30% tax on gains. If you buy a new build, you get a genuine choice at sale time, either the old 50% discount or the new indexation method, whichever works out in your favour.[7] That flexibility won't be available to investors purchasing established property after the cut-off date.

Put plainly, the federal government has deliberately built a tax gap between established homes and new builds, and it's designed to push investor capital toward new supply. Alkimos and Eglinton, with genuine new-build stock and a construction pipeline already underway, sit right in the middle of where that shift is likely to land. Given how recently these reforms were announced, this is exactly the kind of decision worth running past your accountant before you commit, since the right structure and timing will differ from one investor to the next.

A fair word of caution

I wouldn't be doing my job properly if I only gave you the upside. The volume of new dwelling approvals coming through Eglinton in particular is significant relative to existing stock, which means more competition for tenants down the track as new estates complete.[5] That doesn't mean don't invest. It means buy well, choose a location within the corridor close to the train station and the new town centre rather than on the fringe, and go in with realistic expectations about rental growth rather than assuming the current pace continues indefinitely.

Should you invest in Alkimos or Eglinton right now?

If you want strong population growth, government-backed infrastructure, a widening concession on stamp duty for new builds, and a tenant pool that's genuinely growing rather than shifting from somewhere else, this corridor ticks a lot of boxes. It's not the suburb for someone chasing an established character home with low-risk, low-growth stability. It's the suburb for someone who wants to get ahead of where Perth's north is heading.

If you're considering a purchase in Alkimos or Eglinton, or you already own there and want an honest read on your rental prospects, I'm happy to talk it through.

Thinking about investing in Perth's northern growth corridor? Get in touch and I'll walk you through what I'm seeing on the ground.

This article is general information only and doesn't replace financial, tax, or legal advice specific to your circumstances. The federal negative gearing and CGT changes referenced here were announced in the May 2026 Federal Budget and are subject to legislation, so I'd always recommend confirming current detail with your accountant before making an investment decision.

Sources

[1] AreaSearch, Alkimos - Eglinton Population and Development Data — https://areasearch.com.au/wa/alkimos_eglinton

[2] Government of Western Australia, More than 4,000 new homes on the way in Perth's north — https://www.wa.gov.au/government/media-statements/Cook%20Labor%20Government/More-than-4,000-new-homes-on-the-way-in-Perth's-north-20260325

[3] RSM Australia, Key insights from the 2026-27 Western Australia State Budget — https://www.rsm.global/australia/insights/western-australia-2026-27-state-budget

[4] OpenAgent, Alkimos Suburb Profile — https://www.openagent.com.au/suburb-profiles/alkimos-6038

[5] HtAG Analytics, Eglinton, WA 6034 Property Market and House Prices 2026 — https://www.htag.com.au/wa/wa309-city-of-wanneroo/eglinton-wa-6034/

[6] William Buck Australia, Federal Budget Analysis 2026: Negative Gearing — https://williambuck.com/tools/federal-budget-2026/negative-gearing/

[7] Baker McKenzie, Australia: Budget Bites — CGT Discount and Negative Gearing — https://www.bakermckenzie.com/en/insight/publications/2026/05/australia-budget-bites-cgt-discount-and-negative-gearing