Balga ranked most af­ford­able

Stirling Times - - RESIDENTIAL -

and chair­man of com­mer­cial prop­erty funds man­age­ment busi­ness, Mair Prop­erty Funds.

“It is an hon­our to be elected pres­i­dent and I thank Coun­cil for be­stow­ing me with the priv­i­lege of rep­re­sent­ing the In­sti­tute on be­half of its mem­bers,” he said.

“I would also like to thank Hay­den Groves for his hard work and ded­i­ca­tion.”

Lisa Joyce from Joyce Prop­erty In­vest­ments was elected deputy. FIRST-HOME buy­ers look­ing for an af­ford­able home close to the city can choose from sev­eral lo­cal sub­urbs. Balga, West­min­ster, Nol­la­mara and Bal­catta have made REIWA’s list of the 10 cheap­est sub­urbs within 10km of the CBD. Some of the ar­eas on the list are un­der­go­ing sig­nif­i­cant rede­vel­op­ment, al­low­ing el­i­gi­ble first-home buy­ers to pur­chase newly built homes and take ad­van­tage of the First Home Owner Grant. All have me­dian house prices that al­low first-home buy­ers to ei­ther pay no stamp duty, or a con­ces­sional rate on their pur­chase of an es­tab­lished or new home.

Balga was the most af­ford­able area with a me­dian house price of $319,000 for the 12 months to July 2018, well be­low the Perth met­ro­pol­i­tan re­gion me­dian of $514,000. Buy­ers can find a range of af­ford­able homes in the area, with Balga’s lower-quar­tile house price com­ing in at $290,000, and the up­per-quar­tile price $350,000.

Nearby West­min­ster placed sec­ond on the list, with a me­dian house price of $380,000 and a low­erquar­tile price of $355,000. Nol­la­mara came in third, with me­dian house price of $390,000 and lower-quar­tile price of $361,500.

The list rep­re­sented an even split be­tween sub­urbs north and south of the river.

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