- Perth is perfect no matter what you're looking for
- One house below $600K is ripe for subdividing
- Houses well above the seven figures also delight the senses
You’ve probably heard the hype about Australia’s housing market by now – it’s getting cheaper by the dozen.
The question that’s on everyone’s lips, of course: will the housing market downturn continue?
Maybe.
The Property Tribune explored the idea a bit, with the crux of it being: it is taking longer to sell a house, prices are dropping, and the number of house on sale are also dropping.
But will it crash? If you want to wait and see, you’ll probably miss out: one expert reminded readers that no one really knows when the property market will bottom out, and by the time it starts rising, it’ll be too late.
Experts said the best time to buy a hose could be when you’re able to buy – meaning when you have a deposit and your finances are in order.
The Property Tribune also delved into the future of housing in Australia, with predictions for 2023, and through to 2025, with experts believing the market is now a bit more balanced between buyers and sellers.
What’s happening in Australia’s property market?
We’ve covered a lot over the past few months, and we’ve taken a quick look at which Perth suburbs appeared in top 5, top 10, and top 20 lists.
West Australia’s Carine ranked sixteenth on Well Money’s top 20 suburbs for families. The northern coastal suburb of Carine had a median house price of just under $1 million at $999,606, with inventory levels (roughly meaning how much stock is left in the suburb) at 1.5 months.
For other family suburbs across Australia, check out our articles for Sydney, Melbourne Canberra, Brisbane and the Gold Coast.
In our coverage of best areas for buyers in 2023, WA’s Wheatbelt featured, along with Esperance, Mid West, and East Pilbara are all spending some of the longest times on the market.
If you’re looking to buy a Perth house close to the city, or if you aren’t a Sandgroper, the CBD, then Cannington, Westminster, and Osborne Park were cheap suburbs within 10 kilometres of the Perth CBD.
Osborne Park featured again for cheap units close to the Perth City, with Wembley and Maylands also making the cut.
And of course if you’re looking for a sea change, sea views, or just to see what it’s like to live next to the beach, check out this report on the Perth suburb of Scarborough.
Perhaps a seller’s delight – no West Australian suburbs featured in the top 20 suburbs impacted by a cooling market.
Before you buy
A recent survey found that some people who are buying a house may be losing over $8,000. The reason was simple: they had to rent out a place to live before moving into their new house.
If you’re looking at purchasing an investment property, maybe take a look at our top 20 best houses to invest in Perth where we looked at the yields for some Perth suburbs.
Perth housing market
Buying a house in Perth is relatively affordable, compared to most of the country. Domain data shows Perth has a median house price of $645,946 in September this year. This is down from $656,058 in June 2022, and up from $598,912 in September last year.
The combined capital’s median house price is $1.02 million, with Sydney just under $1.5 million, and Melbourne at $1.02 million.
REIWA’s data shows Perth’s median house price, last updated 29 November 2022, is $539,250.
A slightly different measure of house prices, SQM Research data shows asking prices for Perth houses were most recently $790,172.
How many Perth houses are available to buy? The latest SQM data shows just over 21,000 houses are for sale in Perth.
Perth houses for sale over $2M
Perth’s most prestigious properties are scattered around what locals know as the Western Suburbs, or Golden Triangle. In locales such as Peppermint Grove, and Dalkeith, you’ll be able to find some of Perth’s most expensive homes.
Home’s above $2 million may include this Claremont gem, which The Property Tribune included in its most expensive Perth homes article earlier this year.
A quick look at the Mack Hall Knight Frank listing and it still seems to be looking for offers. The five bedroom, five bathroom, palatial 3,617 square metre property is a magnet for superlatives like… I’ll leave them to your imagination.
The 18 Richardson Avenue property in Claremont has sweeping views of the Swan River, a tennis court, an infinity pool, garden terraces, and a clifftop viewing deck.
“The outlook for the luxury Perth market is looking positive as premium properties in Western Australia are in undersupply,” Adam Lenegan of Mack Hall real estate, who is marketing the Claremont home, told The Property Tribune.
On the lower end of the $2 million bracket, this 166 Lincoln Street property in Highgate is expecting offers in the low to mid $2 million’s.
The property is listed with Zsa Zsa Property, with Danielle Geagea as the agent.
The five bedroom, two bathroom home sits on a modest 653 square metre block, with the median house price for the suburb at $1.1 million, according to realestate.com.au.
Houses for sale in Perth over $1M
Perth homes for over $1 million can be found dotted around the entire metropolitan area, with homes from the hills to the sea, far north, and far south.
We found these properties listed on realestate.com.au all within the $1 million price bracket, including ones in Gooseberry Hill, Shoalwater, and North Perth,
Perth houses for sale $600K to $900K
You will have plenty to choose from, whether you want a great location, great views, or a mix of everything, we found this plethora of properties in the $600,000 to $900,000 bracket on Domain.
Perth houses for sale under $600K
There are plenty of homes in the price bracket, with opportunities abounding. Whether you’re looking for something larger to subdivide, or you want a slice of beachside living, there’s something here for everyone.
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