{"id":2657,"date":"2022-05-25T06:50:37","date_gmt":"2022-05-25T06:50:37","guid":{"rendered":"https:\/\/royabhishek.in\/urbanbuyer\/these-are-the-most-affordable-suburbs-within-10km-of-each-cbd\/"},"modified":"2022-05-25T06:50:37","modified_gmt":"2022-05-25T06:50:37","slug":"these-are-the-most-affordable-suburbs-within-10km-of-each-cbd","status":"publish","type":"post","link":"https:\/\/royabhishek.in\/urbanbuyer\/these-are-the-most-affordable-suburbs-within-10km-of-each-cbd\/","title":{"rendered":"These are the most affordable suburbs within 10km of each CBD"},"content":{"rendered":"

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Key takeaways<\/p>\n

Economic stimulus and low mortgage rates have driven demand for property sky high, pushing property prices out of reach in many suburbs across the country. <\/p>\n

Tempe is 8km out of Sydney with a median property price of $1.52 million, which makes it the most affordable suburb within 10km of Sydney. <\/p>\n

Maidstone is around 9.8km west of Melbourne and is the most affordable from the CBD with a median price of $795,000.<\/p>\n

Tingalpa in Brisbane East is between the city centre and bayside with a median price of $650,000. <\/p>\n

The top five best value suburbs within 10km of Adelaide\u2019s CBD all have a median house price of less than $500,000.<\/p>\n

Westminster and Cannington are not only the most affordable suburbs within 10kms of Perth\u2019s city centre, but they\u2019re also priced at less than $400,000.<\/p>\n

These areas are considered \u2018cheap\u2019, however, their low median house prices alone aren\u2019t enough alone to warrant a good investment opportunity<\/p>\n<\/div>\n<\/div>\n

Australia\u2019s property market<\/a>\u00a0has grown at an unprecedented rate over the past 2 years as economic stimulus and low mortgage rates have driven demand for property sky high, pushing property prices out of reach in many suburbs across the country.<\/strong><\/p>\n

And as Covid-19 lockdowns continued and the work-from-home trend became more permanent, many people flocked to suburban and regional areas in search of a better and bigger lifestyle.<\/p>\n

\"Suburbia\"<\/p>\n

But now the resurgence of Australia\u2019s migration has pulled focus back to our cities, springing markets close to our CBDs back into life.<\/p>\n

Data analysis by\u00a0Domain<\/a>\u00a0has revealed the top 5 best value suburbs within 10km of the CBD, in Sydney, Melbourne, Brisbane, Adelaide, and Perth.<\/p>\n

Here\u2019s the full list for each major Australian city.<\/p>\n

Sydney<\/span><\/span><\/h2>\n

Sydney\u2019s property market<\/a>\u00a0is the most expensive across the country, with a median house price of $1.6 million and more than a quarter of the city\u2019s suburbs recording median prices in excess of $2 million.<\/p>\n

\"Syd\"<\/p>\n

Within a 5km ring of the city, Bellevue Hill has a median of a huge $7.27 million, and there are multiple suburbs where the median house price is upwards of $3 million or $4 million, such as Woollahra, Paddington, Cremorne, Greenwich, and Birchgrove.<\/p>\n

But not every one of Sydney\u2019s inner suburbs is so out of reach.<\/p>\n

There are some Sydney suburbs, most of which are in the inner west, which have a more affordable price tag,\u00a0Domain<\/a>\u2019s data reveals.<\/p>\n

Most affordable within 10km: Sydney<\/strong><\/p>\n\n\n\n\n\n\n\n\n
Suburb<\/strong><\/td>\nPostcode<\/strong><\/td>\nRegion<\/strong><\/td>\nMedian house price<\/strong><\/td>\nDistance from the CBD<\/strong><\/td>\n<\/tr>\n
Tempe<\/td>\n2044<\/td>\nInner West<\/td>\n$1,520,000<\/td>\n8km<\/td>\n<\/tr>\n
Arncliffe<\/td>\n2205<\/td>\nSouth<\/td>\n$1,550,000<\/td>\n9.7km<\/td>\n<\/tr>\n
Botany<\/td>\n2019<\/td>\nCity and East<\/td>\n$1,620,000<\/td>\n8.8km<\/td>\n<\/tr>\n
St Peters<\/td>\n2044<\/td>\nInner West<\/td>\n$1,634,500<\/td>\n6km<\/td>\n<\/tr>\n
Mascot<\/td>\n2020<\/td>\nCity and East<\/td>\n$1,690,000<\/td>\n8.3km<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Tempe sits at the top of the list, at just 8km out of the CBD and with a median property price of $1.52 million.<\/p>\n

St Peters, in Sydney\u2019s inner west, is the closest to the city, located just 6km from the CBD with a median house price of $1.634 million.<\/p>\n

Melbourne<\/span><\/span><\/h2>\n

Melbourne house and unit price growth gained momentum over the December quarter as buyer and seller activity rebounded post lockdown.<\/p>\n

Melbourne\u2019s house prices<\/a>\u00a0reached a new record high at $1.1 million, which is the strongest annual gain since 2010, at 18.6% \u2013 this represents a $660 per day increase over the quarter.<\/p>\n

\"Melb\"<\/p>\n

Median property prices don\u2019t come close to those in Sydney, but after a dip in the market in 2020 amid the extended state-wide Victorian Covid-19 lockdown, property prices have skyrocketed.<\/p>\n

At just 3.7km from the city, you can find properties here around the $1.2 million mark.<\/p>\n

But move out just that little bit further and you can get a lot more bang for your buck.<\/p>\n

The city\u2019s west hands out the best deals, mostly around 9-10km away from the CBD.<\/p>\n

Most affordable within 10km: Melbourne<\/strong><\/p>\n\n\n\n\n\n\n\n\n
Suburb<\/strong><\/td>\nPostcode<\/strong><\/td>\nRegion<\/strong><\/td>\nMedian house price<\/strong><\/td>\nDistance from the CBD<\/strong><\/td>\n<\/tr>\n
Maidstone<\/td>\n3012<\/td>\nWest<\/td>\n$795,000<\/td>\n9.8km<\/td>\n<\/tr>\n
West Footscray<\/td>\n3012<\/td>\nWest<\/td>\n$925,000<\/td>\n9.2km<\/td>\n<\/tr>\n
Footscray<\/td>\n3011<\/td>\nWest<\/td>\n$944,000<\/td>\n7.1km<\/td>\n<\/tr>\n
Maribyrnong<\/td>\n3032<\/td>\nWest<\/td>\n$1,009,250<\/td>\n9.3km<\/td>\n<\/tr>\n
Brunswick West<\/td>\n3055<\/td>\nNorth<\/td>\n$1,025,000<\/td>\n7.3km<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

And by accepting the further distance, buyers can expect to pay as little as $795,000 instead of around the $1.2 million mark seen in North Melbourne.<\/p>\n

Maidstone in the city\u2019s west, around 9.8km from the CBD has a median property price of $795,000.<\/p>\n

Meanwhile, the closeby suburb of West Footscray, a little closer to the CBD with a 9.2km distance, has properties around the $952,000 mark.<\/p>\n

Brisbane<\/span><\/span><\/h2>\n

Brisbane\u2019s house prices<\/a>\u00a0have seen the steepest annual climb in 13 years as the city\u2019s property market comes to grips with relentless Covid-19-induced demand for property.<\/p>\n

\"Brb\"<\/p>\n

In 2021 the city experienced a once-in-a-generation property boom that resulted in almost\u00a0400 suburbs joining the million-dollar club<\/a>.<\/p>\n

Top of the list of best value suburbs within 10km of the CBD is Tingalpa, in Brisbane\u2019s east, where the median price for a house is just $650,000.<\/p>\n

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Most affordable within 10km: Brisbane<\/strong><\/p>\n\n\n\n\n\n\n\n\n
Suburb<\/strong><\/td>\nPostcode<\/strong><\/td>\nRegion<\/strong><\/td>\nMedian house price<\/strong><\/td>\nDistance from the CBD<\/strong><\/td>\n<\/tr>\n
Tingalpa<\/td>\n4173<\/td>\nBrisbane East<\/td>\n$650,000<\/td>\n10km<\/td>\n<\/tr>\n
Keperra<\/td>\n4054<\/td>\nBrisbane North<\/td>\n$711,500<\/td>\n9.5km<\/td>\n<\/tr>\n
Salisbury<\/td>\n4107<\/td>\nBrisbane West<\/td>\n$731,250<\/td>\n8.9km<\/td>\n<\/tr>\n
Everton Park<\/td>\n4053<\/td>\nBrisbane North<\/td>\n$750,000<\/td>\n8.5km<\/td>\n<\/tr>\n
Chermside<\/td>\n4032<\/td>\nBrisbane North<\/td>\n$775,000<\/td>\n9.4km<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Tingalpa is between the city centre and the bayside, about 10 minutes from Westfield Carindale and with easy access to the Gateway Motorway and airport.<\/p>\n

Keperra, Everton Park, and Chermside, all on Brisbane\u2019s north side, as well as Salisbury on the south, have median house prices of less than $800,000.<\/p>\n

Adelaide<\/span><\/span><\/h2>\n

Buyers can expect to pay over $700,000 for a house in Adelaide for the first time on record thanks to a rapidly rising price growth that shows no sign of slowing.<\/p>\n

\"Adel\"<\/p>\n

House prices recorded the steepest gains ever with an increase of 8.6% quarterly and 27.5% annually, setting a new record high of $731,547.<\/p>\n

Demand for Adelaide property remains strong as the number of homes sold reaches its highest point on record with its tight supply-demand ratio continuing to heavily favour sellers.<\/p>\n

Most affordable within 10km: Adelaide<\/strong><\/p>\n\n\n\n\n\n\n\n\n
Suburb<\/strong><\/td>\nPostcode<\/strong><\/td>\nRegion<\/strong><\/td>\nMedian house price<\/strong><\/td>\nDistance from the CBD<\/strong><\/td>\n<\/tr>\n
Kilburn<\/td>\n5084<\/td>\nAdelaide Metro West<\/td>\n$480,000<\/td>\n8km<\/td>\n<\/tr>\n
Gilles Plains<\/td>\n5086<\/td>\nAdelaide Metro West<\/td>\n$482,750<\/td>\n10km<\/td>\n<\/tr>\n
Mansfield Park<\/td>\n5012<\/td>\nAdelaide Metro West<\/td>\n$485,000<\/td>\n9km<\/td>\n<\/tr>\n
St Clair<\/td>\n5011<\/td>\nAdelaide Metro West<\/td>\n$485,000<\/td>\n9km<\/td>\n<\/tr>\n
Lightsview<\/td>\n5085<\/td>\nAdelaide Metro West<\/td>\n$495,000<\/td>\n8km<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The top five best value suburbs within 10km of Adelaide\u2019s CBD all have a median house price of less than $500,000.<\/p>\n

Topped by the inner-north suburb of Kilburn, they include Gilles Plains, Mansfield Park, St Clair, and Lightsview.<\/p>\n

Perth<\/span><\/span><\/h2>\n

Perth\u2019s house prices increased 1.8% over the quarter, reaching a new $612,348 median, and unit prices rose 2% to $380,353 over the same period.<\/p>\n

\"Perth\"<\/p>\n

Despite the increase in house and unit prices, the pace of growth has slowed compared to that seen in late 2020 and early 2021 and Perth continues to hold the title of the most affordable city to buy a house as prices swiftly rise across the other cities.<\/p>\n

Interestingly, all the best value suburbs within a 10km radius of the CBD are cheaper than Perth\u2019s overall median of $612,348.<\/p>\n

Most affordable within 10km: Perth<\/strong><\/p>\n\n\n\n\n\n\n\n\n
Suburb<\/strong><\/td>\nPostcode<\/strong><\/td>\nRegion<\/strong><\/td>\nMedian house price<\/strong><\/td>\nDistance from the CBD<\/strong><\/td>\n<\/tr>\n
Westminster<\/td>\n6061<\/td>\nNorth<\/td>\n$387,500<\/td>\n9.8km<\/td>\n<\/tr>\n
Cannington<\/td>\n6107<\/td>\nSouth East<\/td>\n$390,000<\/td>\n10km<\/td>\n<\/tr>\n
Nollamara<\/td>\n6061<\/td>\nNorth<\/td>\n$410,000<\/td>\n8.3km<\/td>\n<\/tr>\n
Osborne Park<\/td>\n6017<\/td>\nNorth<\/td>\n$414,000<\/td>\n6.7km<\/td>\n<\/tr>\n
Queens Park<\/td>\n6107<\/td>\nSouth East<\/td>\n$440,000<\/td>\n9.9km<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Westminster and Cannington are not only the most affordable suburbs within 10kms of Perth\u2019s city centre, but they\u2019re also priced at less than $400,000.<\/p>\n

In Osborne Park, the median house price is still only $414,000 despite the suburb\u2019s location between the city centre to the east and Scarborough Beach to the west.<\/p>\n

Planning to invest? Remember this<\/span><\/span><\/h2>\n

While this is an interesting list to look over, these \u2018affordable suburbs\u2019 aren\u2019t areas where I would necessarily recommend investing.<\/p>\n

Why?<\/p>\n

Because even though these areas are considered \u2018cheap\u2019, their low median house prices alone aren\u2019t enough alone to warrant a good investment opportunity.<\/p>\n

\"Invest\"<\/p>\n

\u2018Cheap\u2019 property will always be \u2018cheap\u2019 so don\u2019t get lured into thinking you\u2019re getting a bargain.<\/p>\n

Also, don\u2019t expect\u00a0investment-grade<\/a>\u00a0returns from secondary locations and properties.<\/p>\n

Of course, we all know by now that location will do about 80% of the heavy lifting of a property\u2019s capital growth.<\/p>\n

And that\u2019s why it\u2019s important to buy your\u00a0investment property<\/a>\u00a0in a suburb that is dominated by more homeowners, rather than a suburb where tenants predominate.<\/p>\n

\"Invest2\"<\/p>\n

And I\u2019d only be buying in suburbs where the locals have higher disposable income than average because they will be able to afford to, and be prepared to, pay more for their properties.<\/p>\n

Overall, by focussing your research on what those often overlooked more affluent owner-occupiers are doing, you may just find an investment that outperforms the market and delivers strong value and growth over the long term.<\/p>\n