Move to Australia: house prices
07 August 2016 by News DeskMove to Australia: while house prices continue to rise affordable property can still be found in Australia’s capital cities.
Move to Australia: The number of million-dollar suburbs across the country may have risen in the past year but housing in Perth is getting cheaper.
In Western Australian capital of Perth housing affordability is improving with house prices falling by 1.4 per cent in the last three months.
Perth’s average house price is now $522,500 while the average price for units is $406,000.
The majority of sales in Perth’s first-time buyer market have been between $350,000 and $550,000.
Move to Australia: house prices
The cost of renting a home in Perth is also falling. Average cost of renting a house or a unit has fallen by $10 with house rents at $395 and units at $365 per week.
Cities like Melbourne, however, have seen continued housing price growth with a big increase in the number of million-dollar suburbs.
In Adelaide there are now 15 suburbs where houses cost an average of $1 million or more.
Springfield, in Adelaide’s south east, is the most valuable suburb in the state with houses costing an average of $1.73 million
In the north of Adeliade houses in Medindie cost an average $1.6 million while average cost of a house in Unley Park is $1.52 million.
Other fast-rising suburbs include College Park, St Peters, Rose Park, Leabrook, Toorak Gardens, Malvern and Tennyson.
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