Within a 20 km radius of every Australian capital city’s CBD houses can be bought for under $450,000 and units for less than $350,000, says RP Data.
34.8 percent of all suburbs within 20 km of a capital city centre have a median house price below $500,000 and for units the figure is even higher at 73.6 percent.
Australia’s most affordable near-to city suburb for houses is Herdsman Cove in Hobart, with a median house price of $138,000. For units, the Brisbane suburb of Woodridge offered the best value median unit price, at $190,000.
|
Houses |
Units |
|
Suburb |
Median price |
Distance from CBD |
Suburb |
Median price |
Distance from CBD |
| Sydney |
Granville |
$430,000 |
19 km |
Lakemba |
$255,000 |
13 km |
| Melbourne |
Coolaroo |
$300,000 |
17 km |
Albion |
$241,250 |
9 km |
| Brisbane |
Gailes |
$215,000 |
19 km |
Woodridge |
$190,000 |
19 km |
| Adelaide |
Wingfield |
$235,000 |
10 km |
Salisbury Downs |
$192,250 |
17 km |
| Perth |
Midvale |
$290,000 |
17 km |
Lockridge |
$238,000 |
11 km |
| Hobart |
Herdsmans Cove |
$138,000 |
16 km |
Glenorchy |
$200,000 |
6 km |
| Darwin |
Bellamack |
$213,500 |
12 km |
Moulden |
$309,500 |
14 km |
| Canberra |
Charmwood |
$382,000 |
12 km |
Scullin |
$259,000 |
9 km |
Source: RP Data
Cameron Kusher, RP Data research analyst, says that across individual cities the proportion of homes priced below $500,000 less than 20 km from the city centre are varied.
3.7 percent of suburbs less than 20 km from the Sydney centre have a median house price below $500,000. Figures are also relatively low in Melbourne at 21.7 percent and Canberra at 25.6 percent.
“These results highlight both the relatively high cost of houses in these cities and, subsequently, densification of inner city areas is occurring. For units, 42.5 percent of suburbs within 20 km of the Sydney city centre have a median price below $500,000 while in each other capital city more than 65 percent of suburbs have a median price below $500, 000,” Kusher says.
Ezine editorial contact:
Emma Carroll
