So, you’ve set your sights on Perth for your next home! This vibrant city offers a fantastic lifestyle, and knowing the average house and unit prices is a crucial first step in your property search.
Understanding the market will empower you to:
- Craft a realistic budget: Knowing the ballpark figures will help you determine how much you can comfortably afford.
- Decide on property type: Perth’s median house price sits significantly higher than units. Consider your needs and budget to pick between houses or apartments.
Perth’s Median Magic Number
Here’s a breakdown of Perth’s median property prices (as of April 2024):
- Houses: $935,000 [refer to realestate.com.au]
- Units: $438,888 [refer to realestate.com.au]
Remember: The median price indicates that half the properties sell for more and half sell for less. So, there will be houses and units available above and below these medians depending on factors like location, size, and features.
Beyond the Median: Perth’s Property Pockets
Perth’s property market varies considerably across suburbs. Some things to consider:
- Inner-city living: Prices tend to be higher in suburbs closer to the CBD.
- House hunting: If your heart is set on a house, be prepared for a higher median price compared to units.
- Unit gems: Units offer a more affordable entry point, particularly for inner-city living.
Next Steps: Dive Deeper
Knowing the median price is a springboard. To get a more precise picture of your chosen suburbs, explore resources like:
- Real estate websites: Refine your search by suburb on sites like realestate.com.au or domain.com.au to see current listings and price ranges.
- Real estate agents: Local agents have their finger on the pulse of the market and can provide valuable insights into specific suburbs.
Perth’s property market offers exciting opportunities. By understanding average prices and exploring diverse suburbs, you’ll be well-equipped to find your dream home!