Just how highly does Perth rank on housing affordability?

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:

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  You need to be a member to post comments. Become a member for free today! Comments powered by CComment Related articles Author Noemi Pamintuan-jara Know more More from this writer: Construction costs reach highest level since GST implementation 10 economic powerhouses boasting strong property markets 20 Perth suburbs with the most impressive turnarounds post-pandemic Mixed bag for home values as Australia shifts to multi-speed market The basic principles that can become a 31-property portfolio Most expensive and most affordable rental suburbs in Australia’s capital cities What’s the likely outcome of a cash rate hike for investors?