Top 66 ‘affordable’ Aussie city suburbs to buy property

There are still city suburbs in Australia where buyers can score a bargain. (Source: Getty)

Interest rates are higher and the cost of living has soared, but there are still some Aussie suburbs where potential buyers can grab a bargain.

Canstar’s Best Affordable Suburb Report identified the most affordable and promising locations for homebuyers and investors to purchase property in 2023.

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“After 12 interest rate hikes, and possibly more to come, the only way for some homebuyers to buy property and still be able to service a mortgage is to quite simply borrow less,” Canstar editor-at-large Effie Zahos said.

“‘Impossible’, you may say, especially as housing values appear to be rebounding. However, there are plenty of suburbs and towns around the country with an affordable edge, and the purpose of this latest report is to help homebuyers and investors find them.”

The most affordable capital city suburbs

Here are the most affordable suburbs in the Aussie capitals and the median price for either a unit or a house.

Brisbane:

1. Annerley (unit) - $456,000

2. Bellmere (house) - $555,000

3. Bethania (house) - $510,000

4. Crestmead (house) - $515,000

5. East Brisbane (unit) - $515,000

6. Goodna (house) - $465,000

7. Raceview (house) - $480,000

8. Slacks Creek (house) - $535,000

9. West End (unit) - $580,000

10. Woolloongabba (unit) - $510,000

Sydney:

1. Bradbury (house) - $765,000

2. Burwood (unit) - $900,000

3. Gymea (unit) - $820,000

4. Lurnea (house) - $885,000

5. Mascot (unit) - $850,000

6. Minto (house) - $855,000

7. Mount Druitt (house) - $915,000

8. Rooty Hill (house) - $850,000

9. Rosemeadow (house) - $775,000

10. Stanmore (unit) - $820,000

Canberra:

1. Belconnen (house) - $595,000

2. Belconnen (unit) - $495,000

3. Bruce (unit) - $460,000

4. Canberra City (unit) - $715,000

5. Charnwood (house) - $610,000

6. Turner (unit) - $640,000

Melbourne:

1. Diggers Rest (house) - $645,000

2. Epping (house) - $680,000

3. Kalkallo (house) - $620,000

4. Kensington (unit) - $560,000

5. Meadow Heights (house) - $580,000

6. Melbourne CBD (unit) - $430,000

7. Mickleham (house) - $660,000

8. Richmond (unit) - $640,000

9. Sunbury (house) - $650,000

10. Tarneit (house) - $650,00

Hobart:

1. Bridgewater (house) - $485,000

2. Chigwell (house) - $530,000

3. New Norfolk (house) - $470,000

4. Risdon Vale (house) - $460,000

5. Rokeby (house) - $540,000

Adelaide:

1. Brahma Lodge (house) - $415,000

2. Davoren Park (house) - $295,000

3. Elizabeth Vale (house) - $390,000

4. Evanston Gardens (house) - $400,000

5. Hackham (house) - $460,000

6. Morphett Vale (house) - $505,000

7. Munno Para (house) - $370,000

8. Reynella (house) - $510,000

9. Rosewater (house) $525,000

10. Salisbury (house) - $460,000

Perth:

1. Armadale (house) - $300,000

2. Cannington (house) - $435,000

3. Golden Bay (house) - $430,000

4. Kelmscott (house) - $370,000

5. Merriwa (house) - $425,000

6. Midland (house) - $360,000

7. Nollamara (house) - $435,000

8. Parmelia (house) - $340,000

9. Warnbro (house) - $420,000

10. Westminster (house) - $410,000

Darwin:

1. Darwin City (unit) - $445,000

2. Gray (house) - $410,000

3. Larrakeyah (unit) - $420,000

4. Moulden (house) - $390,000

5. Woodroffe (house) - $440,000

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