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Perth’s Southeast Ranked Among Australia’s Most Affordable Property Areas in 2024

A 2024 PerthNow report cited rapid growth and relatively low median values in six southeastern Perth suburbs. Here’s what the figures mean—and what they don’t show about affordability today.
From TheFinanceBase Team3 min to read
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A 2024 PerthNow report said several suburbs in Perth’s southeast combined low median property values with some of the nation’s fastest annual price growth. The ranking was based on Ray White research and is historical—not a current 2026 affordability list. It named Kelmscott, Armadale, Wungong, Brookdale, Camillo and Champion Lakes.

What the 2024 report found

PerthNow’s 4 November 2024 story, citing Ray White research, reported the following annual price growth and median values for southeastern Perth areas:

Area named in the report Reported annual price growth Reported median value
Kelmscott 34.2% $392,559
Armadale, Wungong and Brookdale 32.4% $376,802
Camillo and Champion Lakes 31.7% $397,979

These are figures as PerthNow attributed them to Ray White research; the reporting available here does not establish the original study’s full methodology, comparison universe or whether these grouped figures represent the same kind of geographic unit as the named suburbs. They should not be read as independently verified current medians.

How Perth compared with other cities

PerthNow’s account said the three most affordable suburbs in Adelaide had grown by about 25% over the prior year, compared with about 20% in Brisbane, 9% in Sydney and 3% in Melbourne. Those comparisons are also the article’s account of Ray White research. The source does not independently establish the underlying selection method or show that each city’s comparison group was defined identically.

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Why Kelmscott’s growth figure differs by source

The PerthNow story reported Kelmscott’s annual growth as 34.2% based on Ray White research. It separately noted that REIWA’s index showed 37.5% growth for Kelmscott. These are different source-reported figures, and the reporting does not establish that their methods or measurement periods were identical. They should remain separate rather than being combined into a single estimate.

What “affordable” means—and what a later report adds

The 2024 story framed affordability through a ranking of lower-priced suburbs alongside their recent price growth. A later Bankwest Curtin Economics Centre (BCEC) report uses a different measure: median established-house price relative to household income, at the broader ABS SA3 sub-region level. It draws on CoreLogic transaction data for 2024 prices and household incomes based on the 2021 Census, uprated to December 2024 dollars.

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In its 2025 report, Housing affordability in Western Australia 2025: A long way from home, BCEC reported a median price-to-income ratio of 6.0 for Greater Perth and 4.8 for the Armadale sub-region. It also identified Kwinana (4.6), Armadale (4.8), Swan (4.8), Serpentine–Jarrahdale (5.3) and Gosnells (5.9) among Greater Perth’s more accessible sub-regions for median-income households. BCEC said affordability had eroded in these sub-regions since 2022.

The BCEC results provide later regional context, not a direct check of each suburb’s 2024 median value or its annual growth ranking. A price-to-income ratio also does not tell an individual buyer what a mortgage payment will be: repayments depend on the purchase price, deposit, loan terms, interest rate and household finances.

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Is the ranking still current?

No. It describes a report published on 4 November 2024, and the figures are not evidence that these suburbs remain Australia’s most affordable in 2026. REIWA’s Perth Metro market page reports sales data annually to the latest completed month; its 8 October 2026 update covers the 12 months ending September 2026. That later snapshot is useful for current market context, but it does not establish a directly comparable affordable-suburb ranking.

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What buyers should take from rapid growth

Fast past growth can make an area less affordable for the next buyer; it does not establish future returns or guarantee that prices will keep rising. In the PerthNow story, property analyst Gavin Hegney cautioned about the possibility of investor-led demand reversing: “Whatever is hottest on the way up is coldest on the way down.” That is a warning about risk, not a forecast that a reversal will occur.

For a household assessing a purchase, compare the likely repayment burden with income and leave room in the budget for changes in rates, costs and circumstances. A suburb-level median or historical growth rate cannot determine whether a particular home is affordable for a particular buyer. This report is news coverage, not individualized financial advice.

Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.

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