RP Data has revealed the most affordable city dwellings in Australia’s capitals are 20km away from the CBD.
The analyst found suburbs within a 20km radius were generally cheaper and still considered part of the city.
On the pricier end of the scale, inner-Sydney suburb Waterloo had a median price of $607k, compared to an equivalent suburb in Hobart at $231k.
However, the results varied greatly in terms of detached housing versus units, with inner-city units of one or two bedrooms cheaper than bigger units in the outer suburbs.
“This is often due to the fact that in some regions closer to the city, small and affordable one bedroom units often dominate the product offering,” said Cameron Kusher
, RP Data’s research analyst.
“New unit developments are becoming increasingly common across the middle ring suburbs now which can reflect in higher values,” he said.
"Today’s results show that if buyers chose to live close to the city centre, the dominance of affordable units within a 20km radius may provide a viable and more affordable alternative given that the cost of purchasing is often significantly lower than it is for a detached house,” Mr Kusher said.
Australia’s cheapest city suburb was Salisbury in Adelaide, where a unit sells on average for $164k.