A new analysis of Australia’s property market highlights the most affordable inner-city suburbs for first-time buyers across major cities.
According to exclusive data from property analysts at Cotality, the suburbs within 10 kilometres of city centres with the lowest entry-level prices — based on the 25th percentile of property values — have been identified.
In Sydney, Zetland emerged as the most affordable inner-city suburb for houses, with an entry-level price of $1.4 million — nearly $350,000 below the suburb’s median. For units, Ultimo offered the lowest entry price, followed by Canterbury and Chippendale.
In Melbourne, Maidstone had the lowest entry-level house price at $768,000, while Carlton led for affordable apartments, with entry-level units priced around $290,000.
Brisbane saw the most affordable houses in Rocklea ($673,000), Chermside ($828,000), and Keperra ($914,000), with entry-level units available in Spring Hill ($462,000) and Fortitude Valley ($485,000).
In Adelaide, Lightsview offered entry-level homes at $700,000, and Kurralta Park was the most affordable for apartments, with prices around $431,000.
Perth’s Nollamara had entry-level houses priced at $627,000, while units in Wembley could be bought for around $405,000.
Canberra’s most affordable unit suburb was Lyons ($347,000), while Belconnen led for houses in the inner city. In Darwin, Millner offered the cheapest units ($294,967), and Coconut Grove had the lowest entry-level houses ($481,000).
In Hobart, Glenorchy offered units for about $414,000, and Risdon Vale had houses starting at $439,000.
This snapshot provides a guide for first-time buyers looking to get onto the property ladder near Australia’s largest cities without breaking the bank.
