Bhg
  • Shop
  • News
  • Food
  • DIY
  • Garden
  • Renovating
  • Decorating
  • Health
  • TV
  • Hard to Find
Bhg
  • Shop
  • News
  • Food
  • DIY
  • Garden
  • Renovating
  • Decorating
  • Health
  • TV
  • Hard to Find
Subscribe
  1. Home
  2. Property

The most affordable suburbs for first home buyers

Where the price is right. - by Laura Barry
  • 11 Nov 2019
The most affordable suburbs for first home buyers

Property prices in Australia leave many first home buyers feeling like they’ll never be able to get onto the property ladder, particularly in the country’s biggest cities where median house prices sit close to a million dollars, despite the incremental decrease that has been creeping across the nation in recent months.

 However, the recently released Affordable Suburbs Report by CoreLogic has identified the 100 most affordable suburbs scattered across our great southern land where median property prices sit below $500,000, yet have historically demonstrated strong capital growth.

First home buyers in Victoria are spoiled for choice with 62 of the 100 suburbs hidden within their state, with four making the cut into the top five most affordable. New South Wales had 20 suburbs in the top 100, Tasmania also snuck in with a commendable 12 suburbs.

Queensland has slim pickings with only four affordable suburbs to make the 100 most affordable suburbs list, and Western Australia was even worse with a disappointing two.

While Tasmania has long been the focus for affordable housing opportunities, it turns out that Victoria actually has a better selection of properties under the $500,000 mark with good capital growth.

suburban street filled with houses and two cars
Getty

According to the report by CoreLogic, the top 5 most affordable suburbs in Australia are:

  1. Coolaroo, VIC with a median value of $475,235 and a capital growth rate of 33.4 per cent over 12 months.
  2. Melnton, VIC with a median value of $397,883 and a capital growth rate of 31.3 per cent over 12 months.
  3. Rosebud, VIC with a median value of $499,582 and a capital growth rate of 29.4 per cent over 12 months.
  4. Two Rocks, WA with a median value of $470,735 and a capital growth rate of 29.3 per cent over 12 months.
  5. Dallas, VIC with a median value of $455,560 and a capital growth rate of 26.2 per cent over 12 months.

You might also like:

The pros and cons of renting versus buying 

Why waiting for cheaper house prices is a bad idea

Five signs you're ready for home ownership

  • News
  • Property
  • Better Life

Treat yourself to a subscription-Save up to 25%

Plus, your chance to win

Subscribe Now
Treat yourself to a subscription

Treat yourself to a subscription-Save up to 25%

Plus, your chance to win

Subscribe Now
Treat yourself to a subscription

Dream Homes

Powered By

Recommended to you

YOU’LL NEED A WEDGE TO HANG THAT DOOR
Watch 6:32

YOU’LL NEED A WEDGE TO HANG THAT DOOR

{headline}

{headline}

The upfront costs that hit the hardest when buying a house

The upfront costs that hit the hardest when buying a house

How to negotiate with a real estate agent

How to negotiate with a real estate agent

Is the downsize incentive right for you?

Is the downsize incentive right for you?

These are the banks raising their mortgage rates

These are the banks raising their mortgage rates

{headline}

{headline}

The pros and cons of renting versus buying

The pros and cons of renting versus buying

Live off the grid with these shipping container home designs

Live off the grid with these shipping container home designs

5 legal ways to reduce your capital gains tax on investment property

5 legal ways to reduce your capital gains tax on investment property

{headline}

{headline}

The Aussie city with the cheapest house price has been revealed

The Aussie city with the cheapest house price has been revealed

How real estate ads are trying to trick you

How real estate ads are trying to trick you

7 ways to boost your borrowing capacity and land your dream home

7 ways to boost your borrowing capacity and land your dream home

Kerching! How to add value to your home before selling

Kerching! How to add value to your home before selling

You can now buy an entire flatpack house online

You can now buy an entire flatpack house online

5 house-selling secrets only a property stylist knows

5 house-selling secrets only a property stylist knows

5 things no one tells you about buying an investment property

5 things no one tells you about buying an investment property

Bhg
  • About Us
  • Subscribe Today
  • Contact Us
  • Terms and Conditions
  • Privacy Policy
Bhg Magazine Subscribe
  • About Us
  • Subscribe Today
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

Brands

  • All Recipes
  • BHG Shop
  • Girlfriend
  • Home Beautiful
  • New Idea
  • New Idea Food
  • Practical Parenting

Our Network

  • marie claire
  • Beauty Crew
  • Who
  • Women's Weekly Food
  • Bounty Parents
  • That’s Life
  • Perth Now
  • The West Australian
  • 7Plus
  • 7mate
  • 7NEWS
  • 7Sport
  • Sunrise
  • Starts at 60
  • Hard to Find
© 2022 Are Media PTY LTD
All products are independently selected, tested or recommended by our team of experts.If you buy something, we may earn an affiliate commission.
Get more from Better Homes and Gardens

Magazine Subscription Offer

Treat yourself to a subscription-Save up to 25%

Shop This Offer
Treat yourself to a subscription