Perth’s inner-city suburbs are a bargain compared to Sydney and Melbourne

21 September 2021

"Find out how Perth's most affordable suburbs within 10 kilometres of the Perth CBD compare to the equivalent suburbs in Sydney and Melbourne. "

Perth remains one of the most affordable places in the country to buy a house, which is especially evident when comparing the most affordable suburbs within 10 kilometres of the Perth CBD to the equivalent suburbs in Sydney and Melbourne.

CoreLogic data shows the ‘cheapest’ suburb within 10 kilometres of the CBD in Melbourne is Maidstone with a median house value of $922,681, whilst in Sydney, the most ‘affordable’ suburb within 10 kilometres of the city is Arncliffe, with a median house value of $1.455 million.

Comparatively, in Perth, the cheapest suburb within 10 kilometres of the CBD is Westminster with a median house value of $404,577.

REIWA President Damian Collins said the dream of home ownership was still very much alive in Perth, which was clearly illustrated when comparing Perth’s inner-city house prices to those on the east coast in places like Sydney and Melbourne.

“There are plenty of affordable options close to the city in Perth, whereas in places like Sydney and Melbourne you’d likely need to spend over a million dollars to get your foot in the door close to the city,” Mr Collins said.

CoreLogic data shows you could effectively buy 3.5 properties in Westminster, which is Perth's most affordable suburb within 10 kilometres of the CBD, for the cost of just one in Arncliffe, which is Sydney's most affordable within 10 kilometres of the CBD.

Perth is the most affordable capital city in the country

The Real Estate Institute of Australia’s latest Real Estate Market Facts report shows that Perth's median house price in the June 2021 quarter was $515,000, which is the lowest median of any capital city in Australia and 43.7 per cent lower than the national average.

Comparatively, the median house price in Sydney and Melbourne during the June 2021 quarter was $1.41 million and $1.01 million respectively.

“There is a significant difference between what is considered ‘affordable’ in Sydney and Melbourne, versus the equivalent in Perth. A million dollars goes a long way in our local property market, whereas on the east coast you’ll most likely have to fork out close to a million dollars for your first home, which is why prospective buyers are finding it increasingly difficult to get on the property ladder in these cities,” Mr Collins said.

“We are very lucky in WA that housing is still so affordable and that, even amidst a market recovery, home ownership remains within reach for so many West Australians,” Mr Collins said.

How Perth, Sydney and Melbourne's cheapest inner-city suburbs compare

Perth suburbs	Median house value	Melbourne suburbs	Median house value	Sydney suburbs	Median house value
Westminster	$404,577	Maidstone	$922,681	Arncliffe	$1.455 million
Nollamara	$417,614	Footscray	$1.023 million	Waterloo	$1.502 million
Queens Park	$473,922	Coburg North	$1.044 million	Sydenham	$1.530 million
Redcliffe	$482,891	West Footscray	$1.056 million	Tempe	$1.635 million
Cloverdale	$490,121	Spotswood	$1.115 million	St Peters	$1.660 million
Bentley	$520,432	Preston	$1.173 million	Mascot	$1.689 million
Kewdale	$527,961	South Kingsville	$1.183 million	Erskineville	$1.713 million
Belmont	$539,686	Maribyrnong	$1.195 million	Earlwood	$1.715 million
Morley	$549,745	Yarraville	$1.197 million	Eastlakes	$1.771 million
St James	$576,564	Flemington	$1.207 million	Newtown	$1.789 million