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.
Advertisement
Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.
Lender | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Variable | More details | ||||||||||||
FEATURED | Variable Home Loan (LVR < 70%)
| ||||||||||||
Variable Home Loan (LVR < 70%)
| |||||||||||||
Variable | More details | ||||||||||||
FEATUREDREFINANCE ONLY | Variable Rate Home Loan – Refinance Only
| ||||||||||||
Variable Rate Home Loan – Refinance Only
| |||||||||||||
Variable | More details | ||||||||||||
FEATUREDAN EASY DIGITAL APPLICATION | Neat Variable Home Loan (Principal and Interest) (LVR < 60%)
| ||||||||||||
Neat Variable Home Loan (Principal and Interest) (LVR < 60%)
| |||||||||||||
Variable | More details | ||||||||||||
NO ONGOING FEES | Yard PAYG Home Loan (Principal and Interest) LVR ≤ 80%
| ||||||||||||
Yard PAYG Home Loan (Principal and Interest) LVR ≤ 80%
|

- Min 30% deposit
- No monthly or ongoing fees, add 0.10% for offset
- Unlimited redraws
Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of August 11, 2022. View disclaimer.
Disclaimers
The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered. Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au, and Performance Drive are part of the Savings Media group. In the interests of full disclosure, the Savings Media Group are associated with the Firstmac Group. To read about how Savings Media Group manages potential conflicts of interest, along with how we get paid, please visit the web site links at the bottom of this page.
Latest Articles
- Mutuals shine, increasing term deposit rates by up to 1.00% p.a.
- What are the pros and cons of automatic bill payments?
- Guide to Macquarie Bank savings accounts
- Guide to ubank savings accounts
- Inflation rate remains double the growth of rent prices for a decade
Latest News
Which fixed-rate home loans offer an offset account?
August 08, 2022
Where to next for Australia’s property market?
August 04, 2022
Be Savings smart.
Subscribe for free money newsletters.
to the Savings Privacy Policy