South West Commercial Property Update – Q3 2026
Western Australia’s South West continues to experience long-term growth, supported by population movement, regional investment and a diverse economic base.
These conditions are generating ongoing requirements for industrial, retail, office and service-commercial accommodation across Bunbury, Busselton and the wider region.
A Growing Regional Economy
The South West is now home to more than 206,000 residents, making it Western Australia’s largest regional population centre.
The region supports approximately 110,600 jobs and generates an estimated $19.79 billion in gross regional product. Its economy is underpinned by a broad mix of industries, including construction, manufacturing, agriculture, mining, tourism, retail, health care and professional services.
This economic diversity is important for the commercial property market because demand is not dependent on a single industry. Growth across multiple sectors creates requirements for warehouses, workshops, showrooms, offices, retail premises and specialised operational facilities.
Bunbury Remains a Key Commercial Centre
Bunbury continues to play an important role as the South West’s principal commercial, industrial and service centre.
Its established infrastructure, proximity to Bunbury Port and connections to Perth and surrounding regional communities make Greater Bunbury an important location for logistics, manufacturing, trade services and regional distribution.
Bunbury Port handled approximately 17.1 million tonnes of trade during the 2024–25 financial year, demonstrating the scale of commercial and industrial activity supported by the region.
Demand is generally strongest for functional, well-presented properties offering good vehicle access, appropriate loading facilities and proximity to major transport routes. Established industrial areas including Davenport, Picton, Halifax and East Bunbury continue to attract interest from local businesses and larger regional operators.
Continued Growth Around Busselton and the Capes
Busselton and the wider Capes region continue to benefit from population growth, tourism activity and expanding local services.
This growth supports demand across retail, hospitality, medical, office, storage and light-industrial property. However, the availability of suitable commercial land and modern premises can vary considerably, meaning businesses may need to plan ahead when seeking specialised or larger accommodation.
Commercial properties with strong exposure, convenient access, adequate parking and flexible improvements remain particularly attractive to businesses seeking to service the region’s growing population.
Demand Focused on Functional Properties
Demand across the South West remains strongest for modern, functional and appropriately priced premises.
Properties offering practical layouts, good access, adequate parking and limited requirements for occupier upgrades are generally best positioned to attract enquiry.
In contrast, older or highly specialised buildings may take longer to lease, particularly where significant refurbishment or adaptation is required. Property owners can improve their position by reviewing presentation, maintenance, accessibility and leasing strategy before taking an asset to market.
Flexible properties that can accommodate a range of potential uses may also appeal to a wider pool of occupiers and investors.
Opportunities for Investors and Owner-Occupiers
The South West continues to attract interest from investors and owner-occupiers seeking exposure to the region’s long-term growth.
Owner-occupiers generally remain focused on properties that provide operational flexibility, future expansion potential and convenient access to customers, employees and major transport routes.
For investors, tenant quality, lease structure, property condition and the ability to attract future occupiers remain important considerations. Assets with strong underlying land value and adaptable improvements are generally best positioned to respond to changing market requirements.
South West Market Outlook
The South West’s growing population, diversified economy and continuing investment in regional infrastructure provide a positive long-term foundation for commercial property.
While conditions differ between locations and property types, quality premises in established commercial and industrial precincts should remain well supported.
Property owners may benefit from reviewing existing leases, rental positions and future capital works to ensure their assets remain competitive. Occupiers planning to relocate or expand should also allow sufficient time to identify premises that meet their operational requirements.
To discuss commercial property opportunities across Bunbury, Busselton and the wider South West, contact the MLV Property South West team.
Recent South West Transactions
Recent results achieved by the MLV Property South West team across Bunbury, Busselton and surrounding areas.
5 Halifax Drive, Davenport
Sold within one week for $3,275,000
MLV Property successfully sold this four-unit commercial complex within one week of listing. Positioned on a prominent corner site in the heart of Davenport, the property benefits from excellent exposure to one of the area’s main arterial routes.
The light-industrial investment featured a strong tenant base and was sold as a going concern. Following the successful sale, MLV Property was also appointed to manage the property.
15 Beddingfield Street, Davenport
Sold for $1.95 million
Comprising two existing warehouses, the property was sold with plans and potential for the development of a third warehouse.
The successful campaign highlighted the site’s future development potential while recognising the value of its existing improvements. Following the sale, MLV Property was also appointed to manage the property.
Unit 5, 4 Mummery Crescent, East Bunbury
Leased within three weeks
MLV Property successfully leased this highly sought-after commercial unit within three weeks of listing, achieving a rental rate of $150 per sqm.
The approximately 176 sqm unit is positioned within East Bunbury’s Service Commercial zone and offers flexible accommodation suitable for a variety of commercial uses.
