Ten affordable suburbs for first home-buyers within 10km of the Perth CBD

Ten affordable suburbs for first home-buyers within 10km of the Perth CBD

FIRST home-buyers do not need to move to the outskirts of Perth to buy a house, REIWA has identified 10 affordable suburbs within 10km of the CBD.

Some of these areas are seeing significant redevelopment, allowing eligible first-home buyers to purchase newly built homes and take advantage of the First Home Owner Grant.

All have median house prices that allow first-home buyers to either pay no stamp duty or a concessional rate on their purchase of an established or new home.

THE TOP 10

1. Balga

Balga is Perth’s most affordable suburb for first home buyers within 10 kilometres of the CBD. Located 10 kilometres north of Perth, Balga has a lower quartile house sale price of $290,000 – which is well below the Perth Metro lower quartile median of $399,500. Its median house price is also affordable, coming in at $319,000 for the year to July 2018.

2. Westminster 

In second place is Westminster, with a lower quartile median house price of $355,000. Westminster is situated approximately 10 kilometres north of Perth, close to Balga. In addition to its affordable lower quartile house price, Westminster also has an affordable median house price, which sits at $380,000 for the year to July 2018.

3. Nollamara

Perth’s northern suburbs continue to present good value for first home buyers close to the city, with Nollamara taking out the third spot with a lower quartile sale price of $361,500. Approximately eight kilometres from Perth, Nollamara presents good value for aspiring home buyers, with the suburb’s median house price sitting at $390,000 for the year to July 2018.

4. Cloverdale

Fourth on the list is Cloverdale, with a lower quartile house price of $376,000. Situated eight kilometres east of Perth, Cloverdale provides residents with a quintessential suburban lifestyle close to all major amenities. Cloverdale’s median house price is $423,000, which remains an affordable option for first home buyers looking to buy close to the city without the hefty price tag.

5. Redcliffe

Bordering Cloverdale is Redcliffe, which rounds out the top five. Situated east of Perth close to Ascot and the Perth Airport, Redcliffe has a lower quartile house price of $385,000. With a median house price of $450,000, Redcliffe has good growth potential thanks to the planned rail infrastructure in the area.

6. Belmont

Belmont is sixth on our list of affordable Perth suburbs close to the Perth CBD. Situated east of Perth near Cloverdale and Redcliffe, Belmont’s lower quartile house price sits marginally below $400,000 at $399,500. Close to the new Perth Stadium, airport and major entertainment precincts, there are good lifestyle opportunities on offer in Belmont. The suburb’s median house price is $465,000 for the year to July 2018.

7. Kewdale

In the same vicinity east of Perth as Cloverdale, Redcliffe and Belmont, is the seventh suburb on this list Kewdale. Offering good value for first home buyers, Kewdale has a lower quartile house price slightly higher than Belmont’s at $400,000 and a median house price of $490,000, which is the most expensive on the list but remains within Perth’s traditional first home buyer price range.

8. Bentley

In eighth place is Bentley, with a lower quartile house price of $405,000. Located eight kilometres south-east of Perth, Bentley presents first home buyers with an affordable way to enter the Perth property market close to Curtin University, sporting facilities and all major amenities. Bentley’s median house price for the year to July 2018 is $462,000.

9. Balcatta

Balcatta is the ninth suburb on the list with a lower quartile house price of $420,000. Situated 10 kilometres north of the Perth CBD, Balcatta is an attractive option for first-time buyers wanting to purchase a house in an established suburb close to the city. Balcatta’s median house price is $486,500, which is within the traditional first home buyer range and comfortably below the Perth Metro median house price.

10. Morley

Completing the list is Morley in the tenth spot, with a lower quartile house price equal to Balcatta’s at $420,000. Currently undergoing significant urban infill rejuvenation, first home buyers looking for an affordable suburb north of the river and close to the city should give Morley serious consideration. Morley’s median house price also offers good value for first home buyers, coming in at $475,000 for the year to July 2018.