Subiaco too expensive? Try buying in one of Perth's 10 hidden gem suburbs instead

Subiaco too expensive? Try buying in one of Perth's 10 hidden gem suburbs instead
Subiaco too expensive? Try buying in one of Perth's 10 hidden gem suburbs instead

Canningvale is Perth’s fifth most searched suburb by buyers, but with a median house price of $626,973 it’s out of reach for many. But Thornlie, just nine kilometres away, has a median house price that is 31% cheaper.

Westpac has compiled a list of ten Perth suburbs where it’s cheaper to buy than in their more popular neighbouring suburbs.

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The hidden gem suburbs are close to the popular suburb but have a lower cost median house or unit price. The most popular suburbs were determined by the most searched for suburbs on realestate.com.au.

“Buyers who want to truly own their home sooner can find real value by simply considering a suburb which is just a stone’s throw away from their first preference,” says Westpac’s Gai McGrath.

With a median house price of $700,173 Scarborough is out of reach for many buyers but nearby Innaloo is 11.6% cheaper. For units Churchlands is a better alternative to Scarborough with median prices 25.8% less.

If you wanted to buy a unit in Subiaco you could consider travelling just two kilometres down the road to Wembley where the average unit price is 47% cheaper.

You could own your home 22 years and four months sooner and save $308,307 in purchase price and $171,057 in interest repayments over time, according to Westpac.

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Picture courtesy of commons/flickr.

 

Alistair Walsh

Alistair Walsh

Deutsche Welle online reporter

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