Perth ferry expansion set to reshape riverfront property markets

Perth’s riverfront suburbs are on the cusp of a new wave of residential development following the State Government’s recent approval of two new ferry terminals.

The $107 million expansion plan was first announced in January as part of the Labor Government’s election commitments.

The first phase of the plan has now received development approval, with a formal tender for construction of the two new terminals in Matilda Bay and Applecross set to be issued in early 2026.

Plans for 10 additional terminals, including Canning Bridge, Point Fraser, Burswood Park, Optus Stadium and Claisebrook Cove, are also being explored.

The expanded ferry route is designed to enhance connectivity and encourage sustainable travel, and will likely prove to be a major driver for residential development in these areas.

Infrastructure reshapes cities

Major infrastructure investments play a defining role in residential growth, identifying key corridors for public and private development opportunities.

While rail and road projects have traditionally been the main catalyst, Perth’s ferry expansion could usher in a new era of growth.

The expanded ferry network will make transport across Perth’s metropolitan area more efficient, reducing reliance on road networks that are already under pressure.

At the same time, the lifestyle appeal of these suburbs will also be enhanced, offering residents a direct and scenic link between some of Perth’s most popular destinations.

For property markets, this combination will likely translate to higher demand for housing in these suburbs, pushing prices upwards in an already red-hot market.

Charting the next phase of growth

As demand increases, medium-density housing is expected to emerge as the most practical and sustainable response to increase housing supply in these areas.

The riverfront areas on the expansion plan’s radar are already largely established, leaving limited opportunities for further land releases.

Instead, smart infill development including townhouses and low-rise apartments will be a more natural fit, allowing additional homes to be delivered without major disruptions to the area.

An improved ferry network will also enhance the walkability of these suburbs, making medium-density formats more attractive as residents are likely to favour proximity over lot size.

Affordability pressures will also play a key role, particularly as prices continue to increase for suburbs that are set to benefit from the expanded ferry route.

Medium-density offers a more attainable option for buyers seeking connectivity and proximity to the river, as opposed to the high price tag that comes with detached houses in these areas.

Supporting connected communities

A well-integrated ferry network has the potential to enhance connectivity across Perth, allowing residents to move easily without relying on the road system.

The water-based transport move comes as the Western Australian Government is fast-tracking higher-density homes around 10 train stations.

For this multi-million-dollar investment to truly pay dividends, new transport infrastructure must come hand-in-hand with support for increased residential development in these areas.

Without sufficient housing supply in proximity to these terminals, the risk is that these services will be underutilised and cost ineffective.

Medium-density development is key to achieving this, enabling more people to live near terminals and supporting consistent, long-term use of the ferry network.

With the first phase of the expansion plan now underway, the challenge will now turn to ensuring that development planning and approvals processes can support the growing housing needs of these areas.