The high demand for housing In Australian cities, coupled with limited supply, has driven house prices to levels that make it increasingly challenging for home buyers to live close to the CBD of their preferred capital city.
While median house prices in Sydney and Melbourne are over the million-dollar mark, there are pockets of Perth, such as Bennett Quarter Estate, that are close to the city, yet still affordable for most people.
Let’s dig a little deeper to see how house and land packages in Bennett Quarter Estate stack up against suburbs within similar proximity to the CBD of Sydney and Melbourne.
Sydney
With the highest median prices in Australia, Sydney is home to some of the most expensive properties in the country. According to Domain in June 2023, Hurstville, approximately 16 kilometres south of the Sydney CBD, has a median price for a 4-bedroom house at $1.82 million. Other suburbs at a similar distance from the CBD include Eastwood with a median of $2.25 million, and Dee Why at $2.9 million.
Melbourne
Meanwhile in Melbourne, the suburb of Greensborough, approximately 16.8 kilometres north of the CBD, has a median house price of over a million dollars. According to Domain in June 2023, the median price for a 4-bedroom house in Greensborough is $1.11 million. Other Melbourne suburbs at a similar distance to the CBD include Glen Waverly at $1.54 million and Keilor at $1.2 million.
Perth
Located 16 kilometers northeast of Perth’s CBD, Bennett Quarter Estate presents an attractive alternative for homebuyers seeking affordability and convenience. A brand new 4-bedroom house in Bennett Quarter for around $600,000 offers excellent value compared to the higher-priced east coast suburbs. Being one of the closest estates to the city of Perth, Bennett Quarter represents a rare chance to build a brand-new home relatively close to the Perth CBD.
Population Growth in Perth
With Perth’s population of 2.1 million in 2023 expected to grow to more than 2.9 million by 2031, it’s clear that building a brand-new home within 16 km of the Perth CBD for less than $600,000 is an opportunity that won’t last long.
Find Out More
For more information opportunities to build your dream home within 16 kilometres of the Perth CBD, contact Darren Meakins on 0418 956 727 or email [email protected].
