Cheap suburbs within 20km of the CBD

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Housing in capital city CBDs may be beyond the reach of many property investors, but new research claims that good deals can still be had close to the city. Read on for eight suburbs within 20km of eight capital city CBDs that have median prices of $430,000 or less.

RP Data's newest Property Pulse has pointed to affordable capital city suburbs within 20kms or less of city CBDs. Research analyst Cameron Kusher said affordable suburbs with median prices below $450,000 still exist.

The most affordable suburb near a capital CBD is Herdsmans Cove in Hobart. The suburb is 16kms from the city centre, with a median house price of $138,000.

The most affordable median prices within 20km of a capital CBD were found in Brisbane, Adelaide and Hobart. Sydney and Canberra remain expensive by comparison to other capitals, but still have patches of affordability. In Sydney, several suburbs in the Parramatta and Bankstown region still carry median price tags below $450,000.

Kusher pointed out that most affordable suburbs are located more than 10km from the CBD, with the exception of flood-ravaged Rocklea in Brisbane with a median price tag of $279,086, and Risdon Vale in Hobart with a $175,000 median price. 

City

Suburb

Median Price

Distance from CBD

Sydney

Granville

$430,000

19kms

Melbourne

Coolaroo

$300,000

17kms

Brisbane

Gailes

$215,000

19kms

Adelaide

Wingfield

$235,000

10kms

Perth

Midvale

$290,000

17kms

Hobart

Herdsmans Cove

$138,000

16kms

Darwin

Bellamack

$213,500

12kms

Canberra

Chamwood

$382,000

12kms

Source: RP Data Property Pulse

Would you like to see more affordable capital city suburbs? Why not download our Free inner city property bargains report?

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