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
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