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The 30 most affordable and liveable suburbs: ‘Bang for buck’

·Personal Finance Editor
·3-min read
An open home sign on the sidewalk demonstrating a home is for sale and a row of houses in an Australian suburb.
Australia's property market is changing and these suburbs are worth taking a look at if you're looking to buy a home. (Source: Getty)

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.

“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:

  1. Tingalpa - median house price $735,981

  2. Geebung - median house price $790,000

  3. Lota - median house price $892,500

If you’re looking to buy a unit, the three best suburbs to look are:

  1. Warner - median unit price $361,250

  2. Nundah - median unit price $431,250

  3. Birkdale - median unit price $458,000

Sydney

If you;re looking to buy a house, the best suburbs to buy are:

  1. Miranda - median house price $1,640,000

  2. Peakhurst - median house price $1,415,000

  3. Riverwood - median house price $1,200,000

If you’re looking to buy an apartment, the best suburbs to look are:

  1. Telopea - median unit price $690,000

  2. North Parramatta - median unit price $598,750

  3. Wentworth Point - median unit price $710,000

Melbourne

If you’re looking to buy a house in Melbourne, the best suburbs are:

  1. Greensborough - median house price $1,000,000

  2. Mulgrave - median house price $1,000,000

  3. Brian Hill - median house price $1,050,000

If you’re looking to enter the unit market, the best suburbs are:

  1. Taylors Lakes - median unit price $505,000

  2. Kensington - median unit price $552,000

  3. Clayton South - median unit price $615,000

Hobart

If you’re looking to buy a house in Hobart, the best suburbs are:

  1. Warren - median house price $462,625

  2. Mornington - median house price $561,250

  3. Clarendon Vale - median house price $435,000

If you’re looking to buy a unit in Hobart, the best suburbs are:

  1. Oakdowns - median unit price $560,000

  2. Bellerive - median unit price $586,250

  3. Kingston - median unit price $535,000

Gold Coast

If you ‘re looking to buy a house on the Gold Coast, the best suburbs are:

  1. Oxenford - median house price $750,000

  2. Carrara - median house price $850,000

  3. Mudgeeraba - median house price $930,000

If you’re looking to buy a unit on the Gold Coast, the best suburbs are:

  1. Upper Coomera - median unit price $450,000

  2. Robina - median unit price $570,000

  3. Runaway Bay - median unit price $592,000

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