The Real Estate Institute of Western Australia (REIWA) has revealed the 10 most affordable suburbs within 30 kilometers of Western Australia’s capital, with Camillo, Gosnells and Middle Swan named as the three most affordable.
The report confirms that despite the median house price inrising 8.6% last year to $525,000, Perth remains the capital’s most affordable property market, with the city’s 10 most affordable suburbs all recording an average sale price of $375,000 or less .
According to data shared by REIWA, Camillo, located 26 kilometers from the central business district, is the cheapest suburb in the city for housing, with an average sale price of $299,000; followed by Gosnells, 20.5 kilometers from the CBD, and Middle Swan, 19.2 kilometers from the CBD. These suburbs have a median selling price of $333,000 and $335,000, respectively.
According to REIWA Chairman Damian Collins, the data indicates that Perth remains the most affordable Australian capital to live in. While residents of other state capitals, like Sydney or Melbourne, see their median prices soar above $1 million, current and potential residents of Perth are enjoying incredibly affordable housing close to the CBD.
“Sydney, by comparison, has a median house price of $1.6 million, which is three times the median sale price of houses in Perth,” Mr Collins said. “We are very lucky here in Perth that there are still plenty of affordable properties within 30 kilometers of the CBD.
“In Sydney or Melbourne, most people live close to the CBD, but these 10 suburbs show just how possible it is to own a home within 30 kilometers of Perth city centre.
“Some of the suburbs on this list, such as Lockridge, Balga and Koondoola, are within 15 kilometers of the Perth CBD. It would cost more than a million dollars to buy a house in Sydney so close to its city center.
“Perth is in a very enviable position compared to its Eastern counterparts. Our strong economy, resilient property market and affordable property prices have kept the Australian dream of home ownership alive in WA.