Banksia Grove vs CurrambineTwo Perth suburbs compared for a home loan
Banksia Grove (WA 6031) is approximately 27 km north of the Perth CBD, east of Joondalup. Currambine (WA 6028) is approximately 29 km north of the Perth CBD, around Currambine station. At the 2021 Census, Banksia Grove had 11,351 residents with a median age of 30, and Currambine had 6,834 residents with a median age of 40.
In both suburbs the most common occupied dwelling was separate houses. Flats and apartments made up 0% of occupied dwellings in Banksia Grove and 7% in Currambine, while 23% of Banksia Grove households rented compared with 22% in Currambine. These differences matter for finance, because lenders assess apartments, strata buildings and houses on land differently.
Both suburbs are in the same state, so transfer duty is calculated on the same scale and the difference in upfront cost comes from the purchase price. The panel below applies that scale, and an estimate of lenders mortgage insurance, to the prices you enter.
WA 6031 · Northern growth corridor of Perth
Banksia Grove
Banksia Grove is a planned northern Perth community developed from 2005, where more than two-thirds of households carry a mortgage and no flats exist.
City of Wanneroo. Approximately 27 km north of the Perth CBD, east of Joondalup.
Read the full Banksia Grove guideWA 6028 · Northern suburbs of Perth
Currambine
Currambine is a northern Perth suburb developed in the mid-1990s around its own station, with large homes and an unusual apartment component.
City of Joondalup. Approximately 29 km north of the Perth CBD, around Currambine station.
Read the full Currambine guide
What buying in Banksia Grove and Currambine would mean for the loan
The difference between two suburbs is usually a difference in price, and price drives the deposit, the transfer duty, any lenders mortgage insurance and the repayment. Enter the prices you are seeing and the panel works out each of those for Banksia Grove and Currambine.
Your prices and deposit
Enter the price you are seeing in each suburb. BorrowWise does not quote prices, so the comparison uses yours.
Enter a price for Banksia Grove to see the repayment, transfer duty and upfront cash.
Enter a price for Currambine to see the repayment, transfer duty and upfront cash.
Warning: The interest rate used here is an example only. It is not a comparison rate and is not a rate offered by any lender, and it does not include fees and charges. Different rates, terms, fees or loan amounts will give a different result.
Estimates only. Repayments assume a principal and interest loan at a constant rate, which is an assumption and not a current market rate. Transfer duty is indicative for established homes, first home buyer relief depends on eligibility, and upfront cash includes an allowance of $3,000 for conveyancing and inspections. Lenders mortgage insurance is an estimate and is added to the loan. A lender makes its own assessment.
Banksia Grove and Currambine: Census profile compared
Figures are from the 2021 Census, so rents, repayments and incomes have moved since. They are most useful for comparing one suburb with another and with Australia as a whole.
| Measure | Banksia Grove | Currambine |
|---|---|---|
| People and households | ||
| Residents | 11,351 | 6,834 |
| Median ageAustralia 38 | 30 | 40 |
| Average household sizeAustralia 2.5 | 3.0 | 2.8 |
| Median household income, weeklyAustralia $1,746 | $1,956 | $2,214 |
| Housing costs at the 2021 Census | ||
| Median rent, weeklyAustralia $375 | $360 | $400 |
| Median mortgage repayment, monthlyAustralia $1,863 | $1,800 | $2,000 |
| Who owns and who rents | ||
| Households rentingAustralia 31% | 23% | 22% |
| Owned with a mortgageAustralia 35% | 68% | 50% |
| Owned outrightAustralia 31% | 8% | 28% |
| Types of home | ||
| Separate housesAustralia 72% | 96% | 91% |
| Townhouses, terraces and semi-detachedAustralia 13% | 4% | 3% |
| Flats and apartmentsAustralia 14% | 0% | 7% |
| Homes with two bedrooms or fewer | 5% | 5% |
| Homes with four bedrooms or more | 57% | 74% |
| Dwellings unoccupied on Census night | 5% | 5% |
Source: Australian Bureau of Statistics, 2021 Census (CC BY 4.0). Tenure shares exclude households that did not state their tenure. Dwelling shares are of occupied private dwellings.
Home loan considerations in Banksia Grove and Currambine
Lenders treat houses on land, townhouses and apartments differently, and some apply extra conditions to small apartments, high-density buildings or particular postcodes. These are the points each guide raises.
Banksia Grove
- First home buyers
- Upgraders
- Investors
- Outright ownership of only 7.9 per cent means budgets are among the most repayment-sensitive in these guides.
- High loan-to-value borrowing is common, so lenders mortgage insurance or the 5% Deposit Scheme is often relevant.
- No flats were recorded at the 2021 Census, so low-maintenance housing is effectively unavailable.
- Construction loans are drawn in stages and valued on an as-if-complete basis.
- Developer encumbrances controlling design and external appearance may remain registered on titles.
Currambine
- Upgraders
- First home buyers
- Investors
- Currambine station has no bus connections, so residents reach it on foot, by bicycle or by car.
- Apartments near the station can fall below the minimum internal floor area some lenders require.
- Strata levies are counted in serviceability assessments and reduce borrowing power.
- Half of households with a stated tenure had a mortgage, so budgets are sensitive to repayments.
- Properties near Marmion Avenue, Shenton Avenue or the freeway may be affected by traffic noise.
Housing stock in Banksia Grove and Currambine compared
Banksia Grove
- Four-bedroom estate homes
- The most common size at 2,010 dwellings counted at the 2021 Census, in a suburb developed from 2005.
- Three-bedroom houses
- The 1,379 three-bedroom dwellings counted at the 2021 Census, with only 164 two-bedroom homes.
- House and land packages
- Vacant lots in remaining releases across the 338 hectare project, funded by a construction loan.
Currambine
- Four-bedroom family homes
- The dominant form at 1,565 dwellings counted at the 2021 Census, with 216 more having five or more bedrooms.
- Apartments near the station
- The 163 flats counted at the 2021 Census, 6.7 per cent of occupied homes, are unusual for the northern corridor.
- Three-bedroom houses
- The 479 three-bedroom dwellings counted at the 2021 Census are a smaller part of the market than in older corridor suburbs.
Official sale price and rent figures for Banksia Grove and Currambine
Only figures published free of charge by a government agency are shown. Where none is published the space is left empty rather than filled with an estimate. Each guide charts the full series.
Banksia Grove
No government agency publishes a free median sale price or rent series for Banksia Grove, so none is shown. A broker can supply recent comparable sales for a specific property as part of a free assessment.
Currambine
No government agency publishes a free median sale price or rent series for Currambine, so none is shown. A broker can supply recent comparable sales for a specific property as part of a free assessment.
Transport, schools and amenities in Banksia Grove and Currambine
Banksia Grove
Transport
- Clarkson Station (train)
- Joondalup Station (train)
- Transperth buses (bus)
- Wanneroo Road (road)
- Joondalup Drive (road)
Amenities
- Banksia Grove Village
- Lakeside Joondalup
- Banksia Grove reserves
Currambine
Transport
- Currambine Station (train)
- Joondalup Station (train)
- Mitchell Freeway (road)
- Marmion Avenue (road)
- Shenton Avenue (road)
Amenities
- Lakeside Joondalup
- Currambine Central
- Currambine local reserves
School listings show name, level and sector only. Enrolment areas change, so confirm eligibility for a specific address with the school or the Western Australia education department.
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Request a free assessment: Banksia Grove or Currambine
An accredited mortgage broker can check your borrowing power against prices in Banksia Grove and Currambine, and explain how lenders treat the homes you are considering. The assessment is free of charge and carries no obligation.