Recently, the WA Treasury commissioned a report to see how WA compares to the Eastern States. It showed resoundingly that Perth has the lowest cost of living among 4 major capital cities.
In Perth, the average weekly household spend during 2021/2022 was $1,630. Compare this to $2,143 in Sydney, $1,805 in Melbourne, and $2,002 in Brisbane. The following data was also obtained from Deloitte Access Economics. Mortgage repayments on the median household budget as a share of median income:
SYDNEY 56%
MELBOURNE 42.5%
BRISBANE 38.8%
PERTH 24.6%
This is why Perth remains a strong investment for both families looking to escape the rent trap, as well as investors looking to invest in one of the most affordable cities to live in.
