10 Perth Suburbs where the home ownership dream remains alive

Perth remains a pocket-friendly destination for first home buyers, as new data reveals the top 10 suburbs in the city that won’t break the bank for aspiring home owners. 

Data from the Real Estate Institute for Western Australia (REIWA) showed there are 512 houses available throughout the metropolitan area for $400,000 or less at the end of October — indicating that getting a foot on the property ladder is still achievable for Perth’s first home buyers. 

REIWA chief executive Cath Hart said the data was encouraging for first home buyers. “The dream of home ownership is very much still alive in Western Australia,” she commented. 

Despite Perth’s property market still grappling with a housing shortage, Ms Hart pointed out that the West Australian capital still had the lowest median house price out of all the capital cities and offers a range of affordable houses to choose from. 

A separate report from CoreLogic showed that Perth’s median dwelling value stood at $559,043 at the end of October — making the city one of the most affordable places across the country to purchase a property. 

“The challenge for buyers is that competition is fierce, and they must act quickly to secure a property. Many of these listings will become under offer in a matter of days, with the median time to sell a house in Perth currently at 15 days,” Mr Hart stated. 

Topping the list of suburbs with the most houses for sale for $400,000 or less is Balga, with 56 houses in the suburb listed with a price tag at or under the budget-friendly threshold. 

“Balga is just 11 kilometres from the CBD [central business district] and has a median house price of $365,000, which is well below the Perth median of $535,000. 

“This should give confidence to prospective buyers who want to live close to the CBD that they don’t have to pay millions like you would in Sydney or Melbourne,” Ms Hart said. 

Other suburbs that still has buying opportunities for people who are on the hunt for affordable houses were Armadale (55 houses), Gosnells (39 houses), Ellenbrook (36 houses), Baldivis (28 houses), Butler (24 houses), Midland (23 houses), Girrawheen (23 houses) and Seville Grove (21 houses).

Most of the suburbs mentioned had an average median price of $400,000 or below, except Ellenbrook ($442,000), Baldivis ($452,000) and Butler ($412,000).

Despite this, the three suburbs’ median values were still below Greater Perth’s average house sale price of $535,000. 

“While many of the suburbs are at the outer edge of the metropolitan area, such as Ellenbrook and Baldivis, the pandemic normalised working from home and hybrid working arrangements, which has seen interest in lifestyle properties increase,” Ms Hart concluded.

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