Despite Perth seeing a strong 12 months of property price growth, it’s still possible to find bargain buys close to the CBD according to a leading industry body.
Real Estate Institute of Western Australia (REIWA) President Damian Collins said Camillo, Gosnells and Middle Swan are the most affordable suburbs to buy a house less than 30 kilometres from the Perth CBD.
Lockridge, Midland, Kelmscott, Balga and Maddington are all priced under $350,000 and also represent great value compared to the East Coast according to Mr Collins.
“We are very fortunate here in Perth that there are still plenty of affordable properties within 30 kilometres of the CBD,” Mr Collins said.
“In Sydney or Melbourne, most people are priced out from living close to the CBD, however these 10 suburbs show just how achievable it is to own a home within 30 kilometres of Perth’s city centre.”
REIWA has complied a list of the top 10 bargain suburbs priced under $375,000.
If they were on the East Coast, Mr Collins said they would likely cost triple that.
“Some of the suburbs on this list, like Lockridge, Balga and Koondoola, are less than 15 kilometres from the Perth CBD,” he said.
“You would need to outlay more than a $1 million to buy a house in Sydney this close to its city centre.
“Perth is in a very enviable position compared to its eastern state counterparts.
“Our strong economy, resilient property market and affordable house prices has kept the Australian dream of home ownership alive and well in WA.”
According to the Real Estate Institute of Australia’s (REIA) latest Real Estate Market Facts, Perth has the most affordable median house sale price of any capital city in the country at $525,000.