REIWA President Hayden Groves said there was great opportunity for Perth home buyers close to the city.
“Buyers in Perth really are in an enviable position. It’s unheard of in other parts of Australia, particularly in Sydney and Melbourne, for buyers to be able to purchase a house close to the city for less than $530,000.
“We are very lucky in Western Australia that there are still great bargains to be had in and around the CBD. It won’t always be this way, so I advise buyers to act sooner rather than later if they are wanting to secure an affordable house close to the city,” Mr Groves said.
Nollamara was the most affordable suburb on the list, with a median house price of $410,000 and a lower quartile price of $375,000.
“Buyers only have to look 10 kilometres north of the Perth CBD to find great value. Nollamara is currently undergoing a lot of change, with infill redevelopment rejuvenating the well-established suburb and attracting a lot of first home buyers to the area,” Mr Groves said.
The 10 cheapest suburbs within 10km of the Perth CBD
| SUBURB: | MEDIAN HOUSE PRICE: | LOWER QUARTILE PRICE: |
| 1. Nollamara | $410,000 | $375,000 |
| 2. Cloverdale | $443,500 | $408,750 |
| 3. Belmont | $450,000 | $408,000 |
| 4. Redcliffe | $452,000 | $395,000 |
| 5. Bentley | $480,000 | $430,000 |
| 6. Embleton | $490,000 | $450,000 |
| 7. Osborne Park | $490,000 | $450,250 |
| 8. Kewdale | $497,500 | $390,000 |
| 9. Morley | $500,000 | $450,000 |
| 10. Carlisle | $525,750 | $445,000 |
Year to June 2017 data for suburbs filtered for more than 20 sales.
Of the 10 suburbs that made the reiwa.com list, seven were located east of Perth.
Mr Groves said the eastern corridor of Perth’s inner city area held a lot of opportunity for home buyers.
“The median house price in suburbs like Cloverdale, Belmont and Redcliffe is hovering around the $450,000 mark, which is notably lower than the Perth median house price. First home buyers in particular will find good opportunity here, especially if they look to these suburbs’ lower quartile prices, which are even more affordable,” Mr Groves said.
“With the Perth Stadium and surrounding infrastructure nearing completion, the opportunity is there for savvy buyers and investors to purchase in a fast growing area at an affordable price.”
