BUYING a home is an attainable goal, with Perth’s housing market offering fantastic value for money in many areas.
Reiwa has identified the 10 most affordable suburbs for houses for the year to October 2019 and the south-western regions have dominated the list, providing a lifestyle near the coast at a reasonable price.
Here are the most affordable suburbs in the metro area.
Kicking off the top 10 most affordable suburbs in Perth is Parmelia, a self-sufficient suburb, close to the thriving Kwinana hub. Parmelia is the only suburb to have experienced growth in its median house price during the 12 months to October 2019, increasing by 0.2 per cent, taking the figure to $255,000, with 52 houses sold in Parmelia during that time.
During the 12 months to October 2019, sales activity in Leda remained stable with 21 houses sold. Its median house price declined 8.6 per cent during that time, taking the figure to $245,000 – still a good option for affordable housing. Leda is a southern suburb of Perth, making up one of the five suburbs in the City of Kwinana.
Cooloongup is a neighbouring suburb of Rockingham, meaning locals get to enjoy all of Rockingham’s amenities and features while also living in a self-sufficient suburb. For the 12 months to October 2019, Cooloongup’s median house price came in at $251,875 which represents a 6.7 decline. During this time, 66 houses sold in the area.
Another southern suburb of Perth, Coodanup’s median house price declined 9.1 per cent to $250,000, making it one of Perth’s most affordable suburbs. During the 12 months to October this year, 45 houses were bought in Coodanup, making it a relatively popular option for buyers looking for affordability. Coodanup is located within the city of Mandurah, meaning residents can enjoy the bustling lifestyle while living in a smaller, more relaxed suburb.
Hillman’s median house price dropped three per cent in the 12 months to October 2019, taking the figure to $242,000. Hillman is 40 kilometres south of Perth in the city of Rockingham and offers residents a homely suburb to live in. Known as Rockingham’s best-kept secret, 19 houses sold in the small suburb during the 12 months to October.
Known as the heart of the Peel region, Mandurah has evolved into a thriving city and a popular tourist destination. The coastal suburb appeals to buyers looking for a first class ‘sea change’ suburb with property development potential. The median house price in Mandurah as recorded in the 12 months to October 2019 is $241,000 which is an 11.1 per cent decline. Mandurah’s attractive housing options are reflected in its sales count with 78 houses sold in the last 12 months.
Orelia is also another affordable option for buyers, with a median house price of $234,000, which represents a 13.3 per cent decline during the 12 months to October 2019. Orelia is located 38 kilometres south of Perth within the city of Kwinana and features all the amenities residents need. During the last 12 months, 32 houses sold in Orelia.
Located 23 kilometres south of Perth, Camillo is an excellent option for first home buyers looking to get their foot in the property market. During the 12 months to October 2019, Camillo’s median house price declined 6.9 per cent to $225,000 making it a good time to buy in the suburb. During that time, 51 houses were sold.
If you are looking to buy from the lower end of the market, you can snatch up a house in Armadale for a middle price of $220,000, which is 10.2% less than if you were buying during the same time last year. During the 12 months to October 2019, 135 houses sold in Armadale, proving to be a popular choice among buyers. Armadale is a well-established suburb with large growth potential and offers buyers affordable housing options in a relaxed community.
Perth’s cheapest suburb for the 12 months to October 2019 is Medina, with a median house price of $195,000 – an 18.9 per cent decrease when compared to the same time last year. Medina is situated 37 kilometres south of Perth and is conveniently close to public transport and the Kwinana freeway, making it easy for residents to commute to work. During the 12 months to October, 31 houses sold in Medina.