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Affordable inner city living a myth

FOR most of us, owning an expensive dwelling in the suburbs or in the inner city remains just a dream.

Every day most of us pass suburbs of beautiful expansive homes before arriving at our own out-of-the-way home.

According to the latest Bureau of Statistics figures, the idea that inner city living becomes more affordable as we become more affluent is a myth.

Only 10.3 per cent of households live in dwellings valued at more than $300,000.

Homes worth more than $150,000 are enjoyed by just 26 per cent of the population.

However, a greater percentage of Perth’s population enjoy houses valued at more than $300,000 than eastern states counterparts – apart from Sydneysiders where 34.8 per cent live in homes worth more than $300,000. In Sydney, though, the median value of dwellings is $251,000, while in Perth the median price is $100,000 lower.

The Real Estate Institute of WA September quarter survey into median home values show that just eighteen of more than 200 suburbs comprise homes with an average value of more than $300,000 including Floreat, Churchlands, Shenton Park, East Fremantle and Attadale.

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