A new report has officially declared Perth as the most affordable capital city in Australia.

The Urban Development Institute of Australia’s (UDIA) State of the Land Report was launched at the UDIA National Congress in Perth on Wednesday, finding that the median new land price in Perth was chump change at $228,000, with median land price growing a modest 6% in 2022.

The latest figures mean Perth now has the most affordable residential blocks in Australia.

Meanwhile, on the east coast, Melburnians are forking out $382,125 for new land, with Sydney-siders exsanguinated $716,381.

To read the article in full, including comments from UDIA WA CEO Tanya Steinbeck, click here.