Capital city bargains still abound

by Adam Smith18 May 2012

Housing in capital city CBDs may be beyond the reach of many of your clients, but a research group has claimed there are good deals to be had in close proximity.

RP Data's newest Property Pulse has pointed to affordable capital city suburbs within 20kms or less of city CBDs. Research analyst Cameron Kusher said affordable suburbs with median prices below $450,000 still exist.

The most affordable suburb near a capital CBD is Herdsmans Cove in Hobart. The suburb is 16kms from the city centre, with a median house price of $138,000.

The most affordable median prices within 20km of a capital CBD were found in Brisbane, Adelaide and Hobart. Sydney and Canberra remain expensive by comparison to other capitals, but still have patches of affordability. In Sydney, several suburbs in the Parramatta and Bankstown region still carry median price tags below $450,000.

Kusher pointed out that most affordable suburbs are located more than 10km from the CBD, with the exception of flood-ravaged Rocklea in Brisbane with a median price tag of $279,086, and Risdon Vale in Hobart with a $175,000 median price.

City Suburb Median Price Distance from CBD
Sydney Granville $430,000 19kms
Melbourne Coolaroo $300,000 17kms
Brisbane Gailes $215,000 19kms
Adelaide Wingfield $235,000 10kms
Perth Midvale $290,000 17kms
Hobart Herdsmans Cove $138,000 16kms
Darwin Bellamack $213,500 12kms
Canberra Chamwood $382,000 12kms