4/5 Waterloo Street, Joondanna, WA 6060
Offers in the Late $800,000s
3 1 1
Open Saturday 24 October 10:00 amOriginally part of the Osborne Park district, Joondanna was primarily utilized for market gardening and poultry farming until the post-WWII housing boom. It was formally named in 1954 to distinguish it from the surrounding industrial and agricultural areas. The suburb saw significant development in the 1950s and 60s, becoming a popular destination for European migrants.
Today, Joondanna is a gentrifying residential pocket characterized by a mix of original mid-century brick homes and modern triplex developments. It maintains a quieter, more suburban feel than its immediate neighbors, Mount Hawthorn and Tuart Hill.
How this suburb feels day-to-day.
Dominant dwelling stock.
Typical entry to ceiling.
Joondanna serves as the primary value alternative to Mount Hawthorn. It offers the same proximity to the city but at a lower entry price, making it a hotspot for young professionals and investors looking for land value and yield.
$950k – $1.75m
$550k – $850k
12-month movement
Current asking rents
The high percentage of units/villas reflects the suburb's transition toward higher density, which has supported strong rental growth while keeping entry prices accessible for first-home buyers.
Price comparison
Median price ÷ median income
Estimated rental yield
While Joondanna has become less affordable recently, it remains significantly cheaper than its southern neighbor, Mount Hawthorn, where medians often exceed $1.5m.
Lower = tighter market
Avg time on market
Annual rental increase
Young professional couples, hospital staff (Sir Charles Gairdner), and small families.
Extremely positive. The combination of high yields and proximity to major employment hubs makes this a low-risk investment location with sustained capital growth prospects.
Expect Joondanna to outperform the broader Perth market as it completes its transition into a premium inner-city suburb. Land value will remain the primary driver as R30/40 lots become increasingly scarce.
vs last 12 months
Relative comparison
Standard security measures are recommended. Focus on properties with secure garages and perimeter fencing, particularly near the Wanneroo Road boundary.
Joondanna is a low-risk suburb with minimal exposure to natural disasters. The primary risks are related to urban planning and traffic.
Very low risk; suburb is elevated and well-drained.
Negligible; fully urbanized environment.
Standard premiums apply; no specific environmental loading identified.
Character Protection Area (limited sections)
Lots adjacent to Green Street and Wanneroo Road.
The R40 zoning allows for triplex developments on standard 700sqm+ blocks, which underpins the land value for older homes.
Excellent bus frequency on Main St and Wanneroo Rd; Glendalough Station is a 5-minute drive.
High; walking distance to cafes, restaurants, and the Mezz Shopping Centre nearby.
Good; Albert James Park and Joondanna Reserve provide quality green space.
Solid; Tuart Hill Primary is well-regarded; southern pockets access Bob Hawke College.
Exceptional; 10 minutes to Sir Charles Gairdner Hospital and Osborne Park Hospital.
A suburb in transition from an older European migrant base to a younger, professional demographic.
The high concentration of 25-44 year olds indicates a strong professional workforce, supporting high rental prices and demand for modern amenities.
Focus is on small-scale residential infill and the broader Stirling City Centre redevelopment nearby.
Residents value Joondanna for its 'hidden gem' status, offering a quiet lifestyle while being minutes from the city and nightlife.
I can be in the city in 12 minutes, but my street is so quiet I forget how close we are.
We couldn't afford Mt Hawthorn, but Joondanna gives us the same lifestyle for a few hundred thousand less.
The neighborhood is changing, but the old Italian spirit is still here in the gardens and friendly waves.
I've never had a vacancy longer than a week here; the demand from young professionals is relentless.
The new villas are great, but the street parking is getting a bit tight on our block.
Walking to Main Street for coffee is the highlight of my weekend.
Position the property as a high-value, low-maintenance alternative to the more expensive inner-city suburbs. Focus on the 'lifestyle without the price tag' angle.
High-yield, high-growth inner-city play.
Over-supply of generic triplex units could cap rent growth in specific streets.
Quiet streets and excellent proximity to nightlife and work.
Older villas may have poor insulation and high electricity costs.
Ensure all RCDs and smoke alarms are compliant with WA state legislation before leasing.
The '6km to CBD' and 'Mt Hawthorn Lifestyle' are the strongest selling points.
Young professional couples (28-40) and savvy local investors.
This report is based on data available as of 2026-03-05. Property investment carries risk. While all care has been taken to ensure accuracy, buyers should conduct their own independent due diligence and seek professional financial and legal advice before proceeding with a purchase.
Offers in the Late $800,000s
3 1 1
Open Saturday 24 October 10:00 amSchools in this suburb, and the government school zones that cover the middle of it. A zone often covers only part of a suburb, so check an address on the property page.
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