Just how highly does Perth rank on housing affordability?

By Noemi Pamintuan-Jara 06 April 2022 | 1 minute read

Rising consumer and housing costs are putting a strain on Aussies’ pockets, but a recent report has revealed that despite robust house price growth, Western Australia’s capital is still the most affordable for home buyers.

Perth

According to the Real Estate Institute of Australia’s (REIA) national Real Estate Market Facts for the December 2021 quarter, PerthPerth, TAS Perth, WA had the most affordable median house sale price and the third-lowest median unit price among the capital city markets.

Analysing REIA’s report, Real Estate Institute of Western Australia (REIWA) president Damian Collins has noted that with a median house sale price of $525,000, Perth, together with Darwin ($592,500), are the only capital cities with a median house sale price of less than $600,000.

The affordability of Perth is further highlighted when put side by side with the other capital cities in this table:

Capital City

Median house price

Perth

$525,000

Darwin

$592,500

Adelaide

$600,000

Brisbane

$711,000

Hobart

$775,000 

Canberra

$950,000 

Melbourne

$1.125 million

Sydney

$1.6 million 

Mr Collins further noted that the massive price gap is most evident when Perth’s median sale price is compared to Sydney, which currently has the highest median house price in the country.

Data from REIA’s report shows that one median-priced house in Sydney is equivalent to three median sale-priced houses in Perth.

When it comes to unit markets, the REIA report has revealed Perth to be the third-most affordable of the capital cities, at $415,000, followed by Adelaide at $412,500 in second spot. Darwin was reported as the most affordable at $400,000.

Zeroing in on REIA’s data for the unit markets below, REIWA’s president highlighted how median unit prices for Hobart, Canberra, Melbourne, and Sydney are more expensive than Perth’s median house sale price – proof, Mr Collins claimed, that home ownership is not an impossible dream for Western Australians.

Capital City

Median unit price

Darwin

$400,000

Adelaide

$412,500

Perth

$415,000

Brisbane

$443,900 

Hobart

$573,000

Canberra

$576,500 

Melbourne

$692,000 

Sydney

$802,255 

RELATED TERMS

Affordability

Affordability refers to a product or service that is inexpensive and accessible for people with limited means.

About the author

Noemi Pamintuan-jara

Noemi Pamintuan-jara

Noemi is a journalist for Smart Property Investment and Real Estate Business. She has extensive experience writing for business, health, and education industries. Noemi is a contributing author of an abstract published by the American Public Health Association, and Best Practices in Emergency Pedagogical Methods in Germany. She shares ownership of the copyright of an instructional video for pharmacists when communicating with deaf patients. She attended De La Salle University where she obtained a double degree in Psychology and Marketing... Read more



Just how highly does Perth rank on housing affordability?
Perth
spi logo

Get the latest news & updates

Join a community of over 100,000 property investors.

Check this box to receive podcast updates

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.