- 26,2017 April
Perth's most affordable suburbs within the 10km of the CBD
New data from the REIWA reveals just how affordable Perth is compared to the other capital cities.
Nollamara, Cloverdale and Belmont are Perth's most affordable suburbs within 10 kilometres of the CBD, new data from the REIWA has revealed.
With Sydney and Melbourne median house prices sitting above $1 million, the new REIWA data highlights the affordability discrepancies between Australia's capital cities.
“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," said Hayden Groves.
The 10 cheapest suburbs within 10km of the Perth CBD
Year to June 2017 data for suburbs filtered for more than 20 sales.
“There are still great bargains to be had in and around the CBD," he said.
"It won’t always be this way, so I advise buyers to act sooner rather," he recommended.
Nollamara was the most affordable suburb on the list, with a median house price of $410,000, and a median price for the lower quartile price of $375,000.
“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,” Groves said.
Of the 10 most affordable suburbs, seven were located east of Perth.
“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.
“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.”
Read more about Perth real estate:
As Perth market stabilises, where are the most affordable suburbs?
The Perth suburbs selling more quickly now than in 'boom' times
June quarter data shows Perth market is stabilising