Following on from our look at the most affordable inner-city suburbs last week, this week we are highlighting the most affordable middle-ring suburbs across each city.
The high cost of housing within the inner-city areas of the capital cities is one of the key reasons why many potential buyers decide to look further afield when purchasing a home. While the middle-ring suburbs may not be as desirable to some as inner-city suburbs, they still tend to be much better catered for with amenity than suburbs located further from the city centre.
The middle-ring suburbs, which we are classifying as being between 10 and 20km from the city centre, typically offer more affordable housing than the inner–city suburbs. However, for houses, lot sizes are often larger and for units there tends to not be as much density as in the inner city. While overall amenity may not be as significant as within the inner 10 kilometre ring, because they are well established suburbs and still close to the city centre, they are typically well catered for with regards to amenities and infrastructure.
Top 5 suburbs with the lowest median house and unit value within 10km to 20km of the CBD
Like the inner-city most affordable suburbs list, it is immediately evident that the cost of houses in Sydney are considerably higher than they are across all other capital cities. At the other end of the spectrum, both houses and units in Hobart are much more affordable than all other capital cities. It’s also noticeable across many of the cities that the gap between the most affordable suburbs for houses and units is generally not that substantial, especially relative to the results for inner-ring suburbs.
Sydney – all of the most affordable suburbs for houses listed are either in the Canterbury or Bankstown council areas. For units all of the suburbs are located west or south-west of the CBD.
Melbourne – all of the suburbs listed for houses except Albanvale are located in the Hume council area. For units, all of those listed are either in the Hume or Brimbank council areas.
Brisbane – for houses, all of the suburbs listed are to the south-west of the city except Woodridge to the south. For units, they are all located outside of the Brisbane council area but are split between north and south.
Adelaide – all of the suburbs listed for houses are located in the Salisbury region of the city. All of the suburbs listed for units are either in Salisbury or Port Adelaide Enfield. unit
Perth - the most affordable suburbs listed are all located within either the Swan or Gosnells council areas. The most affordable unit suburbs are in Swan (3) with one each in Wanneroo and Stirling council areas.
Hobart - For both houses and units, all of the most affordable suburbs listed are located in either the Brighton or Glenorchy council areas.
Darwin – all of the suburbs listed for houses are located in the Palmerston council area except for Karama which sits right on the border of the Darwin council area. For units, all of the suburbs listed are in Palmerston except Wagaman and Karama.
Canberra – most of the most affordable suburbs for houses are located north or north-west of the city centre. For units, the most affordable suburbs are more dispersed across the city.
As the cost of housing becomes more unattainable for many within the inner-ring suburbs we would expect demand to grow for homes in the middle-ring suburbs. Especially those suburbs which offer affordable price points and good local transport amenity. Although some may not consider the middle ring suburbs to be quite as desirable as suburbs in the inner-ring, they generally offer relative proximity to the city centre at lower price points.
In compiling this publication, CoreLogic has relied upon information supplied by a number of external sources and CoreLogic does not warrant its accuracy or completeness. To the full extent allowed by law CoreLogic excludes all liability for any loss or damage suffered by any person or body corporate arising from or in connection with the supply or use of any part of the information in this publication. CoreLogic recommends that individuals undertake their own research and seek independent financial advice before making any decisions. © 2014 CoreLogic.