It’s important not to use the median price as the sole guide for getting into the property market, says REIWA president David Airey. He says the median is the middle point in the market and that half of all sales are under it.

“While the median house price in metropolitan Perth is now around $547,000, this still means that 50% of purchases are under this price,” he says. You don’t need $547,000 to enter the market. The Office of State Revenue data for May shows the median point for entry-level buyers is $450,000 in Perth. Airey says first-home buyers should look at the bottom 25% to get a better perspective of what was available at affordable prices.