Top 10 most affordable suburbs in Great Perth

Greater Perth’s Ingle Farm Camillo is a mere 22km from the city centre and yet it is nearly $220,000 cheaper to buy a house there.

The suburb is not alone though and there are nine other suburbs, all within less than an hour’s drive from the city centre, that enjoy prices well below Greater Perth’s median of $460,000.

RiskWise Property Research has undertaken an indepth analysis into the housing market identifying the Top 10 most affordable suburbs in Greater Perth.

RiskWise CEO Doron Peleg said now was the time for buyers to take advantage of some incredible buying opportunities using a long-term strategy to build equity.

He said the analysis clearly showed that houses, not units, represented solid buying opportunities for those with long-term strategies and this was reflected in the latest Westpac Consumer House Price Expectations Index which saw a surge of 21.7 per cent in September after tumbling 51 per cent in April.

In addition, ultra-low interest rates are expected to drive price increases once the pandemic is over when the long-held link between the cost of borrowing and housing prices reasserts itself.

Mr Peleg said while the Perth market was not a strong performer, there were still some areas delivering good affordability and relatively solid growth in the past five years.

The most affordable suburb was Camillo in Perth – South East with a median price of $241,000 compared to the city’s median price of $460,000.

Mr Peleg said now was the perfect time to take advantage of the conditions before things changed and the property market began to move again.

“There are areas where bargains can be had and if you have a long-term strategy you can expect solid capital growth over the next few years. And the Perth market is very much geared towards buyers who want to live there and are prepared to weather low prices due to the slump in the economy,” he said.

“There are many opportunities for buyers looking for houses with high land value as a proportion of the property, and a strong component of scarcity, especially if they intended to hold on to the property for several years or longer.

“COVID-19 has also helped strengthen ‘work from home’ opportunities, meaning owner-occupiers can take advantage of ‘lifestyle’ prospects instead of being tied to employment hubs.

“In addition, the current ultra-low interest rates have created a unique environment where buying a house in many areas was cheaper than paying rent on one.”

However, Mr Peleg stressed while this is the case for houses in these areas, units continued to carry a materially high level of risk.

For the top 10 affordable suburbs in the ACT click here

For the top 10 affordable suburbs in HOBART click here

For the top 10 affordable suburbs in VICTORIA click here

For the top 10 affordable suburbs in SOUTH EAST QUEENSLAND click here

For the top 10 affordable suburbs in WESTERN AUSTRALIA click here

For the top 10 affordable suburbs in SOUTH AUSTRALIA click here

For the top 10 affordable suburbs in NSW click here

Please Note: This list is based on suburbs that are around 70% of the medium price (i.e. not the most affordable suburbs in each capital city) and suburbs with at least 1000 houses in the existing stock. It should be noted that the lower end of the market presents different types of risks.

Subscribe to our newsletter.

Enter your details below to register:

I Agree

BuyersBuyers will collect, hold and use your personal information for the purpose of contacting you as requested. You are not required to provide your personal information, or your real name. However, if you choose not to provide us with your personal information or your real name, we may not be able to fulfil the purpose(s) described above. For full details, see our Privacy Policy.