Perth property under $500k
25 July 2016 by News DeskPerth property offers greater value today than at the same time in 2015 due to a market slowdown in Western Australia.
Perth property has seen average sale prices fall by around $20,000 over the past year
The average cost of a home Perth is now $530,000 compared to $550,000 at the same time last year.
“The fall in Perth property prices is welcome news for home-buyers”, says Darrell Todd founder of thinkingaustralia.
“$20,000 is a lot of money, it means people could maybe buy a bigger home, or get to live in a more desirable area”.
Thanks to the price falls, popular suburbs around Perth are now starting to come within reach of many who were previously priced out of the market.
A 3-bedroom villa with two bathrooms that cost $330,000 three years ago can now be bought for less than $300,000.
Perth property under $500k
Located 18km from the city centre, newly-affordable suburbs such as Kingsley and Greenwood in northern Perth suburbs offer attractive older-style property.
The area is popular with families, offers good transport links and is only 5km from the coast. $500,000 will get you a 40yr-old three-bedroom house set in a large garden. A 424 square metre residential block recently sold for around $430,000.
Ferndale, 14km from Perth city centre, offers 700sq-metre plots with 1970-style homes for under $500,000. Average home prices, at $468,000, have fallen almost 7% in the past year 12 months.
For those who prefer metro living in Perth property prices in the city centre are coming down. Two bedroom two-bathroom apartments can be found costing less than $500,000 with one-bedroom apartments currently available for under $400,000.
When it comes to Perth property prices bargains can still be found – a three-bedroom house in Armadale recently sold for just $279,000.
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