BUYERS in Sydney would be hard-pressed to find a home priced in the early to mid $200,000s, but you can certainly snap them up them here.
Most are found in the southern suburbs, some are even close to the coast, and there is one within 11km of the CBD.
Here is REIWA’s list of Perth’s top 10 most-affordable suburbs:
Kicking off the list is Leda, which is situated 35km south of Perth close to the coastal suburb of Rockingham. Leda’s median house price for the year to March 2018 is $316,000. Leda is the only suburb on the list to have experienced an increase to its median house price, with reiwa.com data showing it lifted 5.3 per cent. The average days it took to sell a house in Leda was 61 days, which is quicker than the overall Perth Metro average.
Orelia is just ahead of Leda on the list of Perth’s most affordable suburbs. Orelia’s median house price softened slightly by 1.1 per cent to $315,000 in the year to March 2018. Situated 38km south of Perth in the City of Kwinana, it took sellers an average of 68 days to sell their property in Orelia, the same as the next suburb on the list, Maddington. There were 45 house sales recorded in Orelia in the year to March 2018.
Located 18km southeast of Perth, Maddington is eighth on the list with its median house price for the year to March 2018 coming in at $314,000. This represents a 12.8 per cent decline in price compared to the year to March 2017. Maddington offers prospective buyers peaceful living away from the city, while retaining the facilities that make city living appealing. Known as the suburb ‘spoilt with opportunity’, 112 houses were sold in Maddington in the year to March 2018.
Out of all the suburbs on the list, Lockridge is the shortest distance from Perth, located just 11lm north of the CBD. Lockridge offers affordable houses for buyers looking to live close to the city but are on a budget. Lockridge recorded a 6.8 per cent decline to its annual growth rate, with its median house price coming in at $310,000 for the year to March 2018.
The next most affordable suburb is Cooloongup, which has a median house price below $300,000. Situated 40km southwest of Perth, Cooloongup’s median house price for the year to March 2018 is $287,000, which represents a decline of 7.4 per cent on the year to March 2018. Located near the ocean-adjacent suburbs of Rockingham and Safety Bay, it took notably longer to sell a house in Cooloongup than the Perth Metro region, taking an average of 83 days.
Coming in at number five on the list is Hillman. Hillman recorded a median house price of $280,000 for the year to March 2018, which is a 7.7 per cent decline on the suburb’s median house price for the year to March 2017. It took sellers on average 87 days to sell their property during this time, with a total of 32 house sales. Hillman is located in the City of Rockingham, 40km.
The fourth most affordable suburb in Perth is Parmelia. Situated 34km south of the Perth CBD, Parmelia has a median house price of $269,000 for the year to March 2018. This median represents a 7.2 per cent decline on the same time last year. Out of all the suburbs on this list, houses in Parmelia took the longest to sell, with sellers waiting an average of 91 days to find a buyer in the year to March 2018.
Next on the list is Camillo. Potential buyers looking to nestle in Camillo can find a house for around $266,000, which is its median house price for the year to March 2018. Camillo experienced a decline of 9.8 per cent to its annual median house price in the year to March 2018. Located 23km southeast of Perth near Seville Grove and Kelmscott, it took on average 87 days for sellers to find a buyer for their property.
Those looking to secure a property for a low price should look to Armadale. Its median house price for the year to March 2018 was recorded at $250,000, making this suburb the second most affordable to buy in. Armadale’s median house price declined 12.9 per cent in the year to March 2018, with 150 houses sold in the area. Located 25km southeast of Perth, Armadale is the growing regional centre of the City of Armadale, known for its bustling urban centre and relaxed community.
Medina tops reiwa.com’s list of Perth’s most affordable suburbs by median house price for the year to March 2018. Medina’s median house price declined 4.8 per cent to $238,000 in the year to March. However, it took significantly longer to sell a property in Medina than the Perth Metro region, with sellers waiting an average of 90 days to sell their house. With 41 houses sold, Medina tops the list of affordable suburbs in Perth. The suburb is situated in the City of Kwinana, 31km away from Perth.