Top 20 affordable suburbs in capital cities

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on March 03, 2022 Fact Checked
Top 20 affordable suburbs in capital cities

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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Aaron joined Savings.com.au in 2021. He is a finance journalist with a keen interest in property, the share market, and improving financial literacy in young Australians.

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