Out of all of Australia's major capital cities, Perth is the cheapest place to live.

Top 12 Most Affordable Places in Perth

Compared to bigger cities on the east coast Perth is coming in a lot cheaper (at least for now), where the median house price is around $595,000. Previously, Darwin held this spot, but the city’s median price has recently increased to $608,000.

Perth’s price growth increases at a very slow and steady pace – slower than other cities. Although investors may not be too happy about this specific detail, it is something that home buyers can rejoice about. But there’s still good news for investors. Perth overtaking Darwin as the cheapest city in the country is not a result of Perth’s house prices dropping. The reason is mainly due to the slower growth.

While the prices are still low, it’s indeed an excellent time for buyers to start looking for their future homes. So, where should you look? Luckily for you, we have done our research, so you do not have to.

Here are the top 12 most affordable places in Perth that you should check out:

 

1. Armadale

Armadale consistently has had several real estate properties for sale over the last decade. Many buyers do not know that Armadale has a median sale price of $275,00, which is so low compared to the national average ($485,000).

Prices have gone up for the last 12 months, resulting in a 25% price change. Nevertheless, Armadale is an incredibly affordable place to buy in Perth this 2022. This low pricing may remain for a while, mainly due to Perth’s home price stickiness.

Armadale is located only 30 kilometers from Perth CBD.

 

2. Bentley

Just 8 km from the CBD, Bentley is a great place to live for many families, professionals, and students. It’s where Curtin University is, along with a shopping centre, retirement housing complex, and several restaurants. But because Bentley is close to Perth CBD, the prices here are a little higher, especially if you compare them to Armadale.

The median price in Bentley is $476,000, which is only about $9,000 short of the national average. But considering its location and proximity to highways, public transport, and other establishments, we believe it is a good place to buy.

Bentley is predominantly a residential suburb.

 

3. Bullsbrook

This large suburb is within the City of Swan. Bullsbrook welcomed its first residents back in the 1890s, but it was only in the 1970s when significant property development took place. The population continues to grow, and you may be interested in buying a property in this rural and rural-residential suburb.

As of February 2022, the median price is $400,000. Some properties sold for almost $485,000, but you can find homes for sale that are around $300,000 to $330,000. Bullsbrook’s prices have gone up to 19.4% versus Perth Metro Region’s 7% for the last 12 months.

Bullsbrook is located in the City of Swan, in the outer metropolitan area.

 

4. Camillo

Camillo is not always a popular place in Perth to buy, but that may be what you are looking for. The current population here is a little over 4,400.

Camillo’s annual growth is quite appealing for investors with a 17.4% increase, which is over 10% higher than Perth Metro Region. The median price in the area is recorded to be $290,000. The upper quartile is about $330,000, whilst some houses sell for $265,000 to $270,000.

 

5. Greenfields

If you look up places to buy in Perth in 2022, many do not list Greenfields. However, the truth is that Greenfields will always be relevant in the property market. It is an ideal area to invest if you are planning to buy and sell the house after a year or so. This suburb is in the City of Mandurah and already has numerous smaller communities within its boundaries.

Greenfields is a family-friendly area and offers the quintessential residential lifestyle. Many estates here are surrounded by trees and parks. If you’re thinking about buying, Greenfields has a median property price of $312,500. It has seen a growth of over 15% over the past year.

 

6. Kewdale

Like Greenfields, Kewdale seems a little bit underrated, even though it has a lot to offer to its residents. It is near Tomato Lake and nearby the shopping centre on the northern side of the suburb. Kewdale is only eight kilometres from Perth.

The median price is higher than some of the places in this list, which is $500,000. Kewdale only saw a 0.1% decrease in price in the last five years, a satisfying indicator to property investors. Meanwhile, in the previous 12 months, the suburb has had a 14.9% price increase.

 

7. Leda

Leda is a suburb of Perth located in the southern end and is within the City of Kwinana. It is considered a family-friendly area with lots of educational facilities to choose from, including Leda Primary School. The main economic contribution of Leda’s population is in the industrial sector. There are plenty of employment opportunities, including oil refineries and factories.

If you think that Leda is a good place to buy, you may be pleased that the property prices here are indeed affordable. The average cost of houses is $330,000. Over the last 12 months, the highest-priced property sold is recorded to be just around $365,000, cheaper than many areas. And if these are not enough reasons for you to check out Leda, this suburb has seen a 20% increase in prices over the past year. This growth may persist, making the properties here a good investment.

 

8. Lockridge

This Perth suburb’s name comes from a Swan Valley property. A portion of Lockridge was once the Pyrton Estate, where soldiers settled in in the 1920s. Today, most of the residential properties that we see began as part of the State Housing Commission initiative. The SHC bought 240-acre land in 1969 to develop a residential area.

Lockridge offers affordable pricing for homes with the median price set at $330,000. The lowest-priced sale is recorded to be around $294,000 in the last 12 months. Aside from the cheap cost of housing in the area, Lockridge is one of the fastest-growing suburbs of Perth when it comes to real estate prices. It has seen a 26.9% increase in 2021.

 

9. Mandurah

Mandurah is a popular place to buy in Perth and is, in fact, an excellent choice throughout Western Australia. This is true, particularly for buyers searching for a mixed residential and commercial area. Mandurah offers a vibrant location for young families and professionals. It has become an established sea change destination, thanks to the numerous property developments in the area.

Mandurah has an array of family homes, apartments, and mansions to choose from. These properties average $311,500 in price. Some areas are a little costlier, but they usually fall in the $345,000 to $350,000 range. It’s a great deal!

Mandurah is a coastal city situated in the south of Perth.

 

10. Orelia

Orelia is one more of your top options to buy in Perth if you are searching for an affordable property for your family. It is situated in the City of Kwinana. Orelia was originally the name of a ship that brought settlers to Fremantle back in October 1829. Many of the improvements we see today in Orelia are due to the area development that commenced in 1952.

Orelia has a median price of $300,000, making it one of the cheapest suburbs to buy in Perth. The lower quartile is $270,000, but some properties sell up to $350,000. Orelia saw a 1.2% decrease in price growth over the last five years. However, in 2021, the suburb bounced back, resulting in a 24% price increase in the real estate market.

11. Parmelia

Another southern suburb of Perth, Parmelia, is one of the established locations and is just 34 km from the city. It’s prominent for its commercial spaces and parklands, prompting several families to move into the area.

Parmelia is close to schools and has a shopping centre. It is a thriving suburb in Kwinana with a median price of $300,500. This is a 21.7% increase in prices over the last year and a 0.5% growth over the previous five years.

 

12. Westminster

Westminster is probably the cheapest inner-city suburb of Perth, with a median price of $404,000. This area is over $1 million less than Arncliffe, which is Sydney’s equivalent of the mentioned suburb. This is one reason why Perth offers the most affordable housing in the country.

Westminster is only 12 km north of the Perth CBD. Over the past year, the house prices in the area have increased but remain attractive to buyers. Despite the previous housing boom, Westminster’s prices sit well below the country’s average property costs.

Whether you are looking to buy near Perth’s CBD or in a farther suburb, there are plenty of selections waiting for you to discover. You do not have to dig deep to find great value for money properties. Simply check out the locations we have listed above. If you want assistance, you may talk to Perth’s leading mortgage brokers at Quantum Finance on 1300 813 113.

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