Region ‘incredible’ ,value for buyers

Six of the 10 most affordable suburbs in Perth to buy property fall within the Rockingham and Kwinana municipalities, with a State real estate expert labelling the region as representing “incredible” value.

The Real Estate Institute of Western Australia’s latest figures for the 12 months to February 2016 show Medina is the most economical suburb in the metropolitan area.

Of the 61 properties sold in the last year, the median price was $270,000 — exactly half the overall Perth metropolitan region’s figure of $540,000.

Medina is also one of the most affordable suburbs to rent in, with a median weekly cost of $300.

Parmelia comes in joint second with Armadale with a median price of $315,000, while Orelia and Calista are also affordable at $320,000 and $330,000 respectively.

Leda has a median price of $332,500 while Cooloongup is listed eighth at $336,000.

By comparison, both Rockingham and Baldivis have current median prices of $450,000.

The latter is an area of real growth however, with 461 properties being sold in Baldivis over the last 12 months.

REIWA president Hayden Groves said properties in the Kwinana area, in particular, represented real value.

“There is often discussion around housing affordability crises — to be able to afford a family home striking distance from the city and the coast is great news for first-homebuyers or those downsizing,” he said.

“It’s hard to complain when Medina’s median price is $270,000 — it is incredibly affordable and great investing for the future.”

With five of the top six affordable suburbs in the city’s municipality, Kwinana Mayor Carol Adams said the region was a drawcard.

“It is easy to see why Kwinana is one of Perth’s most attractive areas for families and young homebuyers,” she said.

“There is a growing realisation that people choose to live in Kwinana, not just for affordability and range of housing choice, but for our great community spirit, diversity and state-of-the-art facilities.”