189/311 Hay Street, Perth WA 6000

18% annual unit growth | High-yielding East Perth apartment | $750pw rental potential | Prime CBD fringe location This 1-bedroom, 1-bathroom apartment in the “Fairlanes” building is a high-performance asset in East Perth’s booming apartment sector. The property has enjoyed an 18% increase in median price over the last 12 months, as buyers and renters flock back to the city center. Listed “From $539,000,” it offers a relatively affordable entry point into a precinct where houses now average over $1.5 million. The apartment’s 74m² layout is larger than average for a 1-bedder, providing the space and comfort required by high-income inner-city professionals. For investors, the numbers are particularly compelling: an expected rental return of $750 per week translates to a gross yield of roughly 7%, significantly outperforming the Perth average. The building is renowned for its resort-style amenities and proximity to the Swan River, Mercedes College, and the free CAT bus network. With a median selling time of just 6 days for the Perth CBD area, this property is in a high-velocity bracket. It represents a low-risk, high-reward play for those looking to capitalize on the ongoing shortage of quality city-fringe housing.