A recent survey by IPSOS showed that Perth's inner suburbs are the most liveable in Australia in terms of safety, healthcare, education, public transport, and affordable housing. While inner Perth houses some of the most luxurious properties overlooking the iconic Swan River, it is still possible to find affordable homes in the region, according to the Real Estate Institute of Western Australia (REIWA)
Figures from REIWA show that the median house price in Perth's inner sub-region steered towards the higher end of the market at $1.2m. However, its median unit price sits at $423,375, making apartments a more affordable option for buyers and investors who want to grab a slice of the most liveable Australian suburbs.
"Not only does buying an apartment allow you to get into the property market quicker, it also lets you enjoy the lifestyle benefits of having all the amenities you need on your doorstep, such as brunch spots, bars, retail hubs and parks," REIWA said.
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REIWA said breaking into the apartment market provides a stable stepping stone for buyers to buy a house in the future.
"The equity of the property can help assist in buying your new home and apartments hold a lot of appeal to tenants when being rented out," it said.
Furthermore, it is easier to have an apartment rented in the region given the robust demand amongst young property seekers who are looking to live near the city.
"There is also a good number of retirees opting for apartments as they offer modern living, minimal maintenance and the added appeal of lock-up and leave," REIWA said.
Median rent price in the area is at $400 per week. Properties are only taking 40 days to lease on average based on recent figures.
