Well Home Loans identified the top 20 housing markets around Australia that are affordable, desirable and relatively close to capital city CBDs.
The top 20 list consisted entirely of unit markets, spread over Western Australia (7), South Australia (7), Queensland (3), the ACT (2) and the Northern Territory (1).
Well Home Loans CEO Scott Spencer said this research is designed to help entry-level buyers and those on modest incomes find good homes in good areas.
"Notably, the top 20 list consists entirely of unit markets. Data from the Australian Bureau of Statistics shows that house prices have grown faster than unit prices over the long-term, so that's something for buyers to bear in mind," Mr Spencer said.
"It has definitely become harder for first home buyers and young families to buy properties that are affordable, desirable and relatively close to capital city CBDs, but this report proves it's not impossible.
“That said, if your budget is $750,000 and you want to live within commuting distance of the city centre, your options are limited."
Top 20 Affordable Suburbs Close to CBDs
|
Suburb, State, Postcode |
Type |
Median Sale Price |
|
Westbourne Park, SA, 5041 |
Unit |
$260,000 |
|
Black Forest, SA, 5035 |
Unit |
$272,000 |
|
Macquarie, ACT, 2614 |
Unit |
$285,000 |
|
Henley Beach South, SA, 5022 |
Unit |
$290,000 |
|
Baldivis, WA, 6171 |
Unit |
$295,000 |
|
Wembley, WA, 6014 |
Unit |
$300,000 |
|
Leanyer, NT, 0812 |
Unit |
$300,000 |
|
Curtin, ACT, 2605 |
Unit |
$305,800 |
|
Bibra Lake, WA, 6163 |
Unit |
$310,000 |
|
Mawson Lakes, SA, 5095 |
Unit |
$315,000 |
|
Daisy Hill, QLD, 4127 |
Unit |
$321,000 |
|
Atwell, WA, 6164 |
Unit |
$325,000 |
|
Highgate, WA, 6003 |
Unit |
$325,000 |
|
Dutton Park, QLD, 4102 |
Unit |
$330,000 |
|
Kuraby, QLD, 4112 |
Unit |
$330,500 |
|
Rostrevor, SA, 5073 |
Unit |
$340,000 |
|
Malvern, SA, 5061 |
Unit |
$340,000 |
|
Tranmere, SA, 5073 |
Unit |
$340,500 |
|
Alkimos, WA, 6038 |
Unit |
$345,000 |
|
Beeliar, WA, 6164 |
Unit |
$350,000 |
Source: Well Home Loans
The suburbs listed featured the were based off the following criteria:
-
Suburbs' median price was between $200,000 and $750,000.
-
They had more than five relevant properties for sale right now.
-
They were within 25km of the CBD.
To make sure suburbs were stable or rising, suburbs were excluded if:
-
Their inventory levels were greater than six months.
-
Their SA3 region had recorded negative growth in its median house price over the previous three months.
- The pipeline of building approvals was greater than 1% of the current housing stock.
That left a small list of Australian suburbs. To establish a top 20 ranking, these suburbs were then ranked based on their current median sale price.
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