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Top 20 suburbs to buy a family home starting at $415,000

·2-min read
Australian currency fanned out and the aerial view of a leafy Australian suburb.
Here are the top 20 surburbs to buy a 'cheap(ish)' family home. (Source: Getty)

Looking for the perfect family home can be a tough search. You have to think about the space you need and what schools you want to be near.

On top of that is achieving the increasingly difficult goal of finding a freestanding house that doesn't break the bank as home prices skyrocket.

But, Well Home Loans has released a new report, highlighting the top 20 suburbs around Australia to buy a family home.

The report defined a ‘family suburb’ as one that meets five key indicators:

  • Median sale price between $200,000 and $1.5 million

  • Owner-occupiers making up at least 70 per cent of the local population

  • Freestanding houses making up at least 60 per cent of the local dwellings

  • Family households making up at least 60 per cent of the local population (with a ‘family household’ being one with at least 2.5 people)

  • A SEIFA education and occupation score of at least 6 (which puts it in the top half of the country for educational and occupational status, based on the Australian Bureau of Statistics’ Index of Education and Occupation)

“Families want to live in suburbs that have lots of other families to socialise with, a high share of owner-occupiers to provide stability and good schools to educate their children,” Well Home Loans CEO Scott Spencer said.

“They also want to buy into suburbs that are likely to enjoy reasonable capital growth over the long-term, even if it’s not necessarily market-beating growth.”

Spencer said the 20 suburbs listed were also generally affordable, with the lowest around $415,000 on average.

“14 [of the 20] have a median house price under $1 million,” Spencer said.

“They’re also quite diverse – there are 13 metro and seven regional markets, spread across seven of the eight states and territories.”

Here are the top 20 suburbs to buy a family home and the average price for a home in the area.

  1. Horningsea Park, NSW - $853,000

  2. Marlow Lagoon, NT - $700,000

  3. Blair Athol, NSW - $893,000

  4. New Lambton Heights, NSW - $972,000

  5. Dingley Village, VIC - $1,030,000

  6. Gelorup, WA - $550,000

  7. Tascott, NSW - $880,000

  8. Glenmore Park, NSW - $885,000

  9. Mount Hawthorn, WA - $979,000

  10. Harkaway, VIC - $1,060,000

  11. Mysterton, QLD - $415,000

  12. One Tree Hill, SA - $752,000

  13. Vale Park, SA - $863,500

  14. The Basin, VIC - $803,000

  15. Bulleen, VIC - $1,300,000

  16. Bentleigh East, VIC - $1,401,000

  17. Mount Lofty, QLD - $535,000

  18. Speewah, QLD - $$649,000

  19. Bonogin, QLD - $1,090,000

  20. Hackett, ACT - $1,250,000

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