NOW IS THE TIME FOR BARGAINS

Kwinana Courier - - Residential -

PROP­ERTY has never been more af­ford­able is a fa­mil­iar cry from the prop­erty in­dus­try.

REIWA pres­i­dent Hay­den Groves said the dream of own­ing a home was in reach, with many af­ford­able sub­urbs in Perth.

“Buy­ers on the east coast would be hard-pressed to find a home priced in the early to mid $200,000s, but you can buy them here,” he said.

REIWA data iden­ti­fied Me­d­ina as Perth’s cheap­est sub­urb, with a median price of $250,000, fol­lowed by Ar­madale with a median price of $275,000.

While many of Perth’s cheap­est sub­urbs are fur­ther afield, there are also many af­ford­able ar­eas close to the CBD.

“Buy­ers in Perth re­ally are in an en­vi­able po­si­tion,” Mr Groves said.

“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.

“We are very lucky in WA that there are still great bargains to be had in and around the CBD.

“It won’t al­ways be this way, so I ad­vise buy­ers to act sooner rather than later.”

Just 10km north of Perth and with a median house price of $410,000, Nol­la­mara topped REIWA’s list of the 10 cheap­est sub­urbs within 10km of the CBD.

“Nol­la­mara is un­der­go­ing a lot of change, with in­fill re­de­vel­op­ment re­ju­ve­nat­ing the sub­urb and at­tract­ing a lot of first-home buy­ers,” Mr Groves said.

Seven of the 10 sub­urbs are east of Perth. Mr Groves said the eastern cor­ri­dor of Perth’s in­nercity area held a lot of op­por­tu­nity for home buy­ers.

“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,” he said.

“First-home buy­ers in par­tic­u­lar will find good op­por­tu­nity here. 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.”

Even the high end of the mar­ket had seen im­prove­ments in af­ford­abil­ity, with buy­ers look­ing to trade up see­ing op­por­tu­nity in ar­eas such as Pep­per­mint Grove, Ap­ple­cross and North Coogee.

There are also many af­ford­able ar­eas close to the CBD.

Hay­den Groves.

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