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

YOU’LL NEED A WEDGE TO HANG THAT DOOR

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  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.

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

YOU’LL NEED A WEDGE TO HANG THAT DOOR

{headline}

{headline}

This is Australia's most expensive place to buy property

This is Australia's most expensive place to buy property

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

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How to sell your house when you have a tenant in place

{headline}

{headline}

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How to avoid capital gains tax when selling a house

Five signs you're ready for home ownership

Five signs you're ready for home ownership

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The BHG guide to home ownership

{headline}

{headline}

Why ‘property staging’ can sell your home faster

Why ‘property staging’ can sell your home faster

Is the downsize incentive right for you?

Is the downsize incentive right for you?

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These are the banks raising their mortgage rates

The pros and cons of renting versus buying

The pros and cons of renting versus buying

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

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

The Aussie city with the cheapest house price has been revealed

The Aussie city with the cheapest house price has been revealed

Buying an investment property

Buying an investment property

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