Canny homebuyers could be about to reap the benefits of Perth’s falling house prices. With real estate analysts predicting this year will be an ideal time to buy. Big falls in home values across the metropolitan area over the past five years, have made many suburbs more affordable especially for first-homebuyers.
EXPERT DAMIAN COLLINS’ BEST BUYS
Redcliffe: Median home prices have fallen to $405,000, making it more affordable to live close to the city and the train station that will be built as part of the airport rail link.
Armadale: With a government focus on creating more jobs in the area, homes with a median price of $240,000 become particularly attractive and well below replacement cost.
Greenwood: With most of the houses built in the 1970-80s, there is now an appetite for refurbishment and rejuvenation that could make this ideally located suburb even more attractive.
Stirling: Another suburb close to the city and public transport, but with a new long-term government focus that will improve its amenity and make it more liveable.
Mt Lawley: A popular suburb where the median price has fallen below $1 million. Homes in similar suburbs in Sydney (Paddington) and Melbourne (Hawthorn) would cost four times as much.