Salter Point, WA 6152Home loan and property guide

Salter Point location and character

Salter Point is located in the City of South Perth on a peninsula in the Canning River, adjoining Manning and Waterford. Water on multiple sides is the defining feature of the suburb and the reason its housing sits at the upper end of the local range.

Around 1880, Samuel August Salter, after whom Salter Point was named, worked as a sawyer and timber contractor on the peninsula. At that time the area was completely undeveloped, surrounded by dense bush with no road access.

Salter established a landing stage on the point known as Salter's Landing, to which timber logs could be floated from where they were cut in Kelmscott and Jarrahdale for transportation to a mill by barge. He operated his business from this location for several years, which led to the area being renamed Salter Point. Samuel August Salter lived from 1849 to 1930.

Transport and amenity in Salter Point

There is no railway station in Salter Point. Canning Bridge station on the Mandurah line lies about 7.2 kilometres from Perth by rail and is reached by bus or car. Transperth buses serve the surrounding roads, connecting the peninsula to Manning, Como and the city.

By road, access is through Manning and Waterford, and the Kwinana Freeway to the west provides the fast route to and from the city. Because the suburb occupies a peninsula, road access is comparatively limited and most journeys pass through the neighbouring suburbs.

The Canning River foreshore is the principal amenity, with walking paths and river outlook, and Curtin University lies a short distance east. Local shopping is served in Manning and Como. This guide does not describe school catchments, which the Department of Education can confirm.

Housing stock in Salter Point

Salter Point is built of substantial detached homes, many taking advantage of river outlook, with a small number of townhouses and apartments. The peninsula position means waterfront and near-waterfront properties sit well above the rest of the local range.

At the 2021 Census, 780 of the 918 occupied private dwellings were separate houses, 73 were semi-detached or townhouse dwellings and 68 were flats or apartments, so houses made up 85.0 per cent of occupied homes against 72.3 per cent nationally. Homes are large: 399 had four bedrooms, 281 had three and 122 had five or more, with only 108 two-bedroom dwellings.

Inspections on a river peninsula commonly consider retaining and revetment where a property fronts water, drainage, roof condition and, in older stock, original services and asbestos-containing materials.

Who lives and buys in Salter Point

The 2021 Census counted 2,913 residents in Salter Point, with a median age of 47 against 38 for Australia and an average household size of 2.6 people compared with 2.5 nationally. Residents aged 55 to 64 were the largest group at 393, followed by 367 aged 45 to 54 and 362 children aged 5 to 14, so the suburb combines established families with a mature cohort.

Outright ownership leads clearly. The Census recorded 421 dwellings owned outright, 316 owned with a mortgage and only 112 rented, so 46.1 per cent of households with a stated tenure owned outright, 34.6 per cent had a mortgage and just 12.3 per cent rented, against 31.0, 35.0 and 30.6 per cent nationally.

Median weekly household income was $2,529 against $1,746 and median monthly mortgage repayments were $2,860 against $1,863, both among the highest in these guides. For a buyer, this is a tightly held, affluent river market with very limited rental stock and few listings in any period.

Planning, the river and local factors in Salter Point

Development is controlled by the City of South Perth's local planning scheme together with the Residential Design Codes. The predominance of large detached homes indicates largely low density coding, so subdivision potential should not be assumed without confirming the position for a specific address.

The Canning River surrounds the peninsula, so foreshore policy, flood and watercourse considerations apply to land near the water, and revetment and retaining structures may be owner responsibilities. Buyers of waterfront property may wish to confirm what applies to the specific lot before planning works.

Because the suburb occupies a peninsula with limited road access, traffic patterns differ from a conventional grid suburb, and the practical journey to the freeway or a station passes through neighbouring suburbs. That is worth testing at the times a buyer would travel.

Buying in Salter Point under Western Australian contract law

Established houses in Western Australia are normally sold by offer and acceptance. Consumer Protection WA explains that the signed form becomes a binding contract once the seller accepts, and that there is no mandatory cooling-off period, so conditions for finance approval and for building and timber pest inspections need to be written into the offer.

There is no mandatory seller disclosure statement in Western Australia, which matters on waterfront land where revetment and retaining obligations may not be volunteered. Independent enquiries and searches are therefore important. Transfer duty is assessed by RevenueWA.

Home loan considerations for Salter Point property

Large detached houses on standard lots are accepted security. At the upper end of this market, where river frontage drives value, some lenders apply tighter maximum loan-to-value ratios to higher-value security, and a valuer has fewer comparable sales to work from, so valuations of premium waterfront homes can be less predictable.

Because the suburb is small at 918 occupied dwellings, comparable evidence is thin generally, and a valuer may look to Manning or Waterford. With median monthly mortgage repayments of $2,860, serviceability rather than deposit is the binding constraint for most buyers here, and building insurance on waterfront land can differ in price and terms.

Lending considerations for Salter Point

• Premium waterfront homes have fewer comparable sales, so valuations can be less predictable.
• Some lenders apply tighter maximum loan-to-value ratios to higher-value security.
• Revetment and retaining structures on waterfront land are often owner responsibilities.
• The suburb is small at 918 occupied dwellings, so listings and comparable evidence are limited.
• Only 12.3 per cent of households with a stated tenure rented, so the tenant pool is very thin.

Lender policy differs between institutions and changes over time. The guide to Australian lenders explains how credit policy varies, and the home loan guide sets out the main loan structures.