Affordable city suburbs where a property can cost less than the national median value
Karen Dellow, Senior Data Analyst
First published 15 February 2024, 03:20 PM
Last updated 18 March 2024, 10:00 AM
The national median house value is currently $792,000, but only 35% of city suburbs have a median price below this figure.
Based on the PropTrack median house value, some cities are more affordable than others.
Darwin had the highest proportion of affordable suburbs, with 90% of suburbs having with a median house value of less than $792,000.
Hobart (70%) and Perth (64%) also have plenty of affordable suburbs, but with half as many active listings in Perth as there were five years ago, there are fewer properties on the market to choose from.
Capital cities with the most affordable suburbs - houses
|
Capital city |
% of affordable* suburbs |
Median house value |
|
Greater Darwin |
91% |
$545,000 |
|
Greater Hobart |
70% |
$654,000 |
|
Greater Perth |
64% |
$663,000 |
|
Greater Adelaide |
53% |
$718,000 |
|
Greater Brisbane |
39% |
$853,000 |
|
Greater Melbourne |
31% |
$833,000 |
|
Australian Capital Territory |
13% |
$884,000 |
|
Greater Sydney |
8% |
$1,195,000 |
|
*Proportion of suburbs with a median house value less than the national median. Using the median automated valuation with mid / high confidence level. Source: PropTrack. |
||
Unsurprisingly, only 8% of suburbs in Sydney — Australia's most expensive city — have a median house price below $792,000.
The median house value in Sydney is $1,195,000, and to find a house below the national median, buyers have to look at least 30km from the CBD to the Central Coast, Blacktown, or the outer west and Blue Mountains.
The Central Coast is one of the few regions of Greater Sydney where buyers can find a house valued below the national median. Picture: Getty
The second least affordable city in Australia is Canberra, where only 13% of suburbs have a median value below the national median.
The median house value in Canberra is $885,000 and the nation's capital has overtaken Melbourne as Australia's second most expensive city.
Most affordable suburbs for houses
|
Suburb |
State |
City |
Median house value |
|
Gagebrook |
TAS |
Greater Hobart |
$356,000 |
|
Moulden |
NT |
Greater Darwin |
$364,000 |
|
Russell Island |
QLD |
Greater Brisbane |
$366,000 |
|
Herdsmans Cove |
TAS |
Greater Hobart |
$378,000 |
|
Elizabeth North |
SA |
Greater Adelaide |
$380,000 |
|
Gray |
NT |
Greater Darwin |
$391,000 |
|
Gawler West |
SA |
Greater Adelaide |
$392,000 |
|
Davoren Park |
SA |
Greater Adelaide |
$399,000 |
|
Bridgewater |
TAS |
Greater Hobart |
$408,000 |
|
Macleay Island |
QLD |
Greater Brisbane |
$409,000 |
|
Using the median automated valuation with mid / high confidence level. Source: PropTrack. |
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Nationally, the cheapest capital city suburb is Gagebrook, in Hobart, where the median house price is $356,000.
Herdsmans Cove and Bridgewater also make it into the top 10 cheapest city suburbs for houses.
These suburbs are all within a 30-minute drive from Hobart CBD.
Gagebrook in Hobart is Australia's cheapest capital city suburb, with a median value of $356,000. Picture: realestate.com.au/sold
Suburbs in Darwin, Brisbane, and Adelaide also made it onto the top 10 list, with Moulden in Darwin taking the second spot with a median of $364,000.
However, there are still suburbs in the more expensive cities where buyers can find an affordable house, such as Treagear in Sydney, Melton in Melbourne, and Belconnen in Canberra.
Top 3 affordable capital city suburbs per state - houses
|
State |
Suburb |
Capital city |
Median house value |
|
NSW |
Tregear |
Greater Sydney |
$655,000 |
|
NSW |
San Remo |
Greater Sydney |
$663,000 |
|
NSW |
Warragamba |
Greater Sydney |
$664,000 |
|
VIC |
Melton |
Greater Melbourne |
$467,000 |
|
VIC |
Melton South |
Greater Melbourne |
$489,000 |
|
VIC |
Bangholme |
Greater Melbourne |
$495,000 |
|
QLD |
Russell Island |
Greater Brisbane |
$366,000 |
|
QLD |
Macleay Island |
Greater Brisbane |
$409,000 |
|
QLD |
Toogoolawah |
Greater Brisbane |
$417,000 |
|
SA |
Elizabeth North |
Greater Adelaide |
$380,000 |
|
SA |
Gawler West |
Greater Adelaide |
$392,000 |
|
SA |
Davoren Park |
Greater Adelaide |
$399,000 |
|
WA |
Medina |
Greater Perth |
$410,000 |
|
WA |
Koongamia |
Greater Perth |
$415,000 |
|
WA |
Mandurah |
Greater Perth |
$422,000 |
|
TAS |
Gagebrook |
Greater Hobart |
$356,000 |
|
TAS |
Herdsmans Cove |
Greater Hobart |
$378,000 |
|
TAS |
Bridgewater |
Greater Hobart |
$408,000 |
|
NT |
Moulden |
Greater Darwin |
$364,000 |
|
NT |
Gray |
Greater Darwin |
$391,000 |
|
NT |
Woodroffe |
Greater Darwin |
$417,000 |
|
ACT |
Belconnen |
Australian Capital Territory |
$624,000 |
|
ACT |
Charnwood |
Australian Capital Territory |
$701,000 |
|
ACT |
Phillip |
Australian Capital Territory |
$725,000 |
|
Using the median automated valuation with mid / high confidence level. Source: PropTrack. |
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There are more affordable options for those looking for a unit.
With a national median unit value of $624,000, half of metro suburbs sit below this price.
Capital cities with the most affordable suburbs - units
|
Capital city |
% of affordable suburbs |
Median house value |
|
Greater Darwin |
100% |
$374,000 |
|
Greater Adelaide |
92% |
$519,000 |
|
Greater Perth |
84% |
$470,000 |
|
Greater Hobart |
84% |
$508,000 |
|
Greater Brisbane |
71% |
$573,000 |
|
Australian Capital Territory |
57% |
$600,000 |
|
Greater Melbourne |
51% |
$596,000 |
|
Greater Sydney |
20% |
$745,000 |
|
*Proportion of suburbs with a median unit value less than the national median. Using the median automated valuation with mid / high confidence level. Source: PropTrack. |
||
Every Darwin suburb has a median unit value below that national median, making it the most affordable capital city for unit buyers.
Adelaide has 92% of suburbs with affordable unit values, with Perth and Hobart joint third with 84%.
Unit values are below the nationwide median in 100% of Darwin suburbs. Picture: Getty
Sydney is also the least affordable city for units, with only 20% of suburbs below the national median.
Most affordable suburbs for units
|
Suburb |
State |
Capital city |
Median house value |
QoQ_change |
|
Gray |
NT |
Greater Darwin |
$252,715 |
-2.6% |
|
Orelia |
WA |
Greater Perth |
$255,541 |
15.9% |
|
Karama |
NT |
Greater Darwin |
$267,233 |
2.2% |
|
Kooralbyn |
QLD |
Greater Brisbane |
$272,421 |
8.1% |
|
Bakewell |
NT |
Greater Darwin |
$277,853 |
-4.7% |
|
Driver |
NT |
Greater Darwin |
$278,910 |
-2.0% |
|
Logan Central |
QLD |
Greater Brisbane |
$288,157 |
6.3% |
|
Caulfield East |
VIC |
Greater Melbourne |
$305,562 |
-0.4% |
|
Woodridge |
QLD |
Greater Brisbane |
$309,140 |
8.4% |
|
Glendalough |
WA |
Greater Perth |
$314,351 |
6.6% |
|
*Proportion of suburbs with a median unit value less than the national median. Using the median automated valuation with mid / high confidence level. Source: PropTrack. |
||||
Gray, in Darwin, takes the top spot for the most affordable suburb, with a median unit price of $253,000.
Karama, Bakewell, and Driver, also in Darwin, all have median unit prices below $270,000, making them some of the most affordable suburbs in the country.
Perth and Brisbane also have several suburbs that make the top 10 list, including Oriela, and Glendalough, in Perth, and Kooralbyn, Logan Central, and Woodridge, in Brisbane.
Caulfield East is Melbourne's cheapest suburb for units, and eighth cheapest in Australia. Picture: realestate.com.au/sold
Caulfield East, in Melbourne, also makes it onto the list with a median unit price of $306,000.
In Sydney, Carramar is the cheapest suburb for units, and in Canberra, Hawker is the most affordable.
Top 3 affordable capital city suburbs per state - units
|
State |
Suburb |
Capital city |
Median house value |
|
NSW |
Carramar |
Greater Sydney |
$395,647 |
|
NSW |
Lakemba |
Greater Sydney |
$402,982 |
|
NSW |
Wiley Park |
Greater Sydney |
$410,368 |
|
VIC |
Caulfield East |
Greater Melbourne |
$305,562 |
|
VIC |
Travancore |
Greater Melbourne |
$326,998 |
|
VIC |
Albion |
Greater Melbourne |
$338,295 |
|
QLD |
Kooralbyn |
Greater Brisbane |
$272,421 |
|
QLD |
Logan Central |
Greater Brisbane |
$288,157 |
|
QLD |
Woodridge |
Greater Brisbane |
$309,140 |
|
SA |
Salisbury |
Greater Adelaide |
$378,308 |
|
SA |
Brooklyn Park |
Greater Adelaide |
$378,377 |
|
SA |
Kilburn |
Greater Adelaide |
$385,329 |
|
WA |
Orelia |
Greater Perth |
$255,541 |
|
WA |
Glendalough |
Greater Perth |
$314,351 |
|
WA |
Shoalwater |
Greater Perth |
$317,913 |
|
TAS |
Glenorchy |
Greater Hobart |
$433,571 |
|
TAS |
Claremont |
Greater Hobart |
$437,178 |
|
TAS |
Moonah |
Greater Hobart |
$445,234 |
|
NT |
Gray |
Greater Darwin |
$252,715 |
|
NT |
Karama |
Greater Darwin |
$267,233 |
|
NT |
Bakewell |
Greater Darwin |
$277,853 |
|
ACT |
Hawker |
Australian Capital Territory |
$388,820 |
|
ACT |
Chifley |
Australian Capital Territory |
$421,787 |
|
ACT |
Lyons |
Australian Capital Territory |
$442,232 |
|
Using the median automated valuation with mid / high confidence level. Source: PropTrack. |
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Knowing where to look for affordable properties in your city can help you find a place to live within your budget.
Originally published at https://www.realestate.com.au/insights/affordable-city-suburbs-where-a-property-can-cost-less-than-the-national-median-value/
