20 affordable housing markets near capital city CBDs

To filter the list, researchers picked out suburbs in areas with good socio-economic standing using the Socio-Economic Indexes for Areas, or SEIFA, that compares an area with other areas. Suburbs need to have a SEIFA disadvantage decile of at least eight to be included in the list.

Suburbs were also omitted if their SA3 region was more than 25 kilometres from the city centre to ensure that they were within commuting distance of the CBD.

After that, there was just a limited list of Australian suburbs left. These suburbs were then rated based on their current median sale price to determine a top 20 ranking – from lowest to highest.

Commenting on the lean list generated by the research, Well Home Loans chief executive Scott Spencer said: “If your budget is $750,000 and you want to live within commuting distance of the city centre, your options are limited.

“It has definitely become harder for first home buyers and young families to buy properties that are affordable, desirable and relatively close to capital city CBDs, but this report proves it’s not impossible.” 

Mr Spencer has further noted markets that made it to the list are rental properties that, he said, buyers need to consider given that “house prices have grown faster than unit prices over the long-term”.

While this study contains a wealth of information, Mr Spencer advised customers to conduct more research and seek professional assistance before making a purchase.

Suburbs from Western Australia (seven), South Australia (seven), Queensland (three), the ACT (two), and the Northern Territory (two) made up the top 20 list.

Here are the top 20 suburbs with affordable rental properties, along with their median sale price:

Rank	State Loading form...	Suburb	Median Sale Price
1	SA	Westbourne Park	$260,000
2	SA	Black Forest	$272,000
3	ACT	Macquarie	$285,000
4	SA	Henley Beach South	$290,000
5	WA	Baldivis	$295,000
6	WA	Wembley	$300,000
7	NT	Leanyer	$300,000
8	ACT	Curtin	$305,800
9	WA	Bibra Lake	$310,000
10	SA	Mawson Lakes	$315,000
11	Qld	Daisy Hill	$321,000
12	WA	Atwell	$325,000
13	WA	Highgate	$325,000
14	Qld	Dutton Park	$330,000
15	Qld	Kuraby	$330,500
16	SA	Rostrevor	$340,000
17	SA	Malvern	$340,000
18	SA	Tranmere	$340,500
19	WA	Alkimos	$345,000
20	WA	Beeliar	$350,000 Tags: Latest Share You need to be a member to post comments. Become a member for free today! Related articles Author Noemi Pamintuan-jara Know more More from this writer: Construction costs reach highest level since GST implementation 10 economic powerhouses boasting strong property markets 20 Perth suburbs with the most impressive turnarounds post-pandemic Mixed bag for home values as Australia shifts to multi-speed market The basic principles that can become a 31-property portfolio Most expensive and most affordable rental suburbs in Australia’s capital cities What’s the likely outcome of a cash rate hike for investors?