The 30 most affordable and liveable suburbs: ‘Bang for buck’
The property market in Australia is going through a phase of change, with prices starting to ease in the most expensive markets in Sydney and Melbourne.
But, there are also some great opportunities around the country for finding a home that is both affordable and in a sought-after suburb, according to a new report.
The PRD Affordable and Liveable Property Guide found that, depending on the city you live in, the property market is changing in different ways.
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“Sydney and Melbourne are becoming opportune markets for buyers and, in particular, first home buyers, with median property price growth either slower than the second half [of] 2021 in Sydney or having swung to a decline in Melbourne,” the report said.
The report also found Brisbane had usurped Sydney and Melbourne in property price growth.
“An undersupply is evident in Brisbane Metro, particularly for houses,” the report said.
“The Olympics 2032 announcement brought a certain buzz into Brisbane’s property market and, with border openings, this trend is expected to continue.”
And Hobart eclipsed Sydney, Brisbane and Melbourne for being the best place for sellers to score a major premium.
“To secure their dream properties, Hobart buyers need to offer the highest average vendor premium when compared to other capital cities, for both houses and units,” the report said.
“Despite having a growing premium market, Hobart and Brisbane continue to be the capital cities for bang for buck.”
So, here are the best suburbs to buy around the country that are both affordable and liveable.
Brisbane
If you’re looking to buy a house, the three best suburbs are:
Tingalpa - median house price $735,981
Geebung - median house price $790,000
Lota - median house price $892,500
If you’re looking to buy a unit, the three best suburbs to look are:
Warner - median unit price $361,250
Nundah - median unit price $431,250
Birkdale - median unit price $458,000
Sydney
If you;re looking to buy a house, the best suburbs to buy are:
Miranda - median house price $1,640,000
Peakhurst - median house price $1,415,000
Riverwood - median house price $1,200,000
If you’re looking to buy an apartment, the best suburbs to look are:
Telopea - median unit price $690,000
North Parramatta - median unit price $598,750
Wentworth Point - median unit price $710,000
Melbourne
If you’re looking to buy a house in Melbourne, the best suburbs are:
Greensborough - median house price $1,000,000
Mulgrave - median house price $1,000,000
Brian Hill - median house price $1,050,000
If you’re looking to enter the unit market, the best suburbs are:
Taylors Lakes - median unit price $505,000
Kensington - median unit price $552,000
Clayton South - median unit price $615,000
Hobart
If you’re looking to buy a house in Hobart, the best suburbs are:
Warren - median house price $462,625
Mornington - median house price $561,250
Clarendon Vale - median house price $435,000
If you’re looking to buy a unit in Hobart, the best suburbs are:
Oakdowns - median unit price $560,000
Bellerive - median unit price $586,250
Kingston - median unit price $535,000
Gold Coast
If you ‘re looking to buy a house on the Gold Coast, the best suburbs are:
Oxenford - median house price $750,000
Carrara - median house price $850,000
Mudgeeraba - median house price $930,000
If you’re looking to buy a unit on the Gold Coast, the best suburbs are:
Upper Coomera - median unit price $450,000
Robina - median unit price $570,000
Runaway Bay - median unit price $592,000
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