A joint study by Aussie Home Loans and CoreLogic has revealed the most affordable suburbs across Perth, with 19 of the top 20 suburbs for houses recording median values under $300,000.
Perth’s cheapest suburbs for houses are located within the Kwinana and Armadale council areas, with Medina the most affordable suburb at $232,639. Perth’s most affordable suburb for apartments is Armadale, with a median value of $173,679, followed by Greenfields ($205,797) and Waikiki ($208,608).
CEO of Aussie, Mr James Symond said “Subdued economic conditions in Perth and the rest of the state has seen lower values and reduced lending volumes over recent years, with all of the top 20 suburbs for affordable houses posting falls in their median value over the last year. All but two of the most affordable suburbs for units also saw median values fall, except Greenfields and Kelmscott which recorded an increase in median value, up by a healthy 10.2 per cent and 16.6 per cent respectively.
“Unlike several other capital cities, apartments close to the city are substantially cheaper relative to houses. All of the top 20 most affordable suburbs for apartments within 10km of the CBD show a median value under $350,000, cheaper than the most affordable suburb for houses,” he said.
Gosnells has the lowest median house value for suburbs within 20km from the CBD, at $282,730, with three other suburbs recording median house values under $300,000, being Maddington ($295,003), Girrawheen ($295,625) and Stratton ($298,809). Glendalough has the most affordable units within 20km of the city with a median value of $227,835, followed by Gosnells ($229,911) and Girrawheen ($235,795).
“If you’re saving up to buy your first home or investment property, now’s a great time to speak with an Aussie Broker. Following the value declines over recent years, our report reveals some quality affordable housing in suburbs across Perth and WA. Coupled with current record low interest rates, buying a property could be more achievable than you know,” said Mr Symond.
All customers who attend a free appointment with an Aussie Broker before 30 April 2019 will go in the draw to win $15,000*. To view the full Aussie/CoreLogic Most Affordable Suburbs report, visit www.aussie.com.au/mostaffordablesuburbs or contact an Aussie Broker for your free copy.
*T&Cs apply, see aussie.com.au/promotions for details.