Top suburbs for first-home buyers within 10km of the CBD
With the property market currently favouring first home buyers, 2019 presents an excellent opportunity for you to make that next big step.
We live in the most affordable state in Australia when we compare our median house price to our income and it is becoming more and more financially viable to buy instead of rent.
If you’re a first time buyer, it can be hard to find a property and suburb that you like within your budget, especially if your lifestyle revolves around inner-city living.
But you don’t have to limit your search to the outer suburbs if you think that’s all you can afford. We have found the top five suburbs for houses and units that are most affordable for first home buyers within 10 kilometres of the Perth CBD.
Five most affordable suburbs for houses close to the city
1. Nollamara (9.3km from CBD)
If you are on the hunt for a house in an affordable suburb that is still close to the city, consider Nollamara as your next option. Nollamara is the most affordable suburb to buy a house in that’s less than 10km from the Perth CBD and just a 15 minute drive to Trigg beach. The latest data shows its median house price is just $380,000. There were 188 houses sold in Nollamara in the last 12 months, suggesting Nollamara is in high demand with buyers.
2. Cloverdale (10km from CBD)
Next on the list is Cloverdale.. Cloverdale is just 10 minutes south of Perth CBD and presents an excellent opportunity for first home buyers looking to secure a house in a well-connected and centralised suburb. Cloverdale’s median house price currently sits at $418,000 and is close to many shopping hubs and major highways.
3. Redcliffe (9.8km from CBD)
Coming in in third place is Redcliffe, with a median house price of $420,000. Less than 10 kilometres from the CBD, Redcliffe sits on the border of Ascot and Perth Airport and offers a range of schools and amenities. This suburb is relatively popular amongst those looking to buy in an affordable area with close proximity to the city.
4. Ashfield (9.3km from CBD)
With a median house price of $432,500, Ashfield is another good option when it comes to buying your first house somewhere central. Situated along the Swan River, the latest data shows popularity in Ashfield grew significantly over the past year, with sales volumes increasing 29.4 per cent.
5. Belmont (8.2km form CBD)
Rounding out the top five is Belmont with a median house price of $440,000. Belmont offers first home buyers the perfect balance of suburban and inner-city living with an abundance of retail and entertainment sectors. During the last year, 79 houses were sold in the area.
Five most affordable suburbs for units close to the city
1. Osborne Park (8.2km from CBD)
If you are looking for a unit to buy for your first property, but don’t want to nestle too far from the CBD, then Osborne Park is your best option. With a median unit price of just $245,000, Osborne Park not only makes for an affordable option but also presents attractive lifestyle opportunities with many local parks, cafes and shops.
2. St James (8.5km from CBD)
Just 8.5 kilometres from Perth’s CBD, St James is situated close to Curtin University. With a median unit price of $260,000, St James is another suburb that offers first home buyers an affordable price without needing to sacrifice the convenience of inner-city living.
3. Glendalough (5.7km from CBD)
When looking for an affordable suburb to buy that’s in a good location, Glendalough should be at the top of your radar, coming in at number three on the list with a median unit price of $277,500. Glendalough is within close proximity to the beach, city and public transport, making it a convenient place to live if you enjoy the hustle and bustle of inner-city living.
4. Redcliffe (9.8km from CBD)
Redcliffe seems to be a popular option for first home buyer’s looking to buy close to the city, making the list for both houses and units. With a median unit price of $282,5000, Redcliffe offers first home buyer’s a convenient location, being just a short distance away from the CBD, Perth Airport and is situated along the Swan River.
5. Tuart Hill (9.1km from CBD)
Rounding out the list for affordable first home buyer suburbs for units within 10km of the Perth CBD is Tuart Hill. With a median unit price of $290,000, Tuart Hill is a vibrant, central suburb to live in close to many cafes and shopping hubs.
source: REIWA
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Better times ahead for the Perth property market
