House hunters could save hundreds of thousands of dollars – and in some cases over $1 million – simply by looking one train stop further from the city, new PropTrack analysis reveals.
The PropTrack data shows dozens of capital city suburbs where buyers hopping to the next station can find significantly cheaper houses, often adding just a few minutes to their commute.
The findings land amid an upswing in national prices. According to PropTrack’s Home Price Index, home values rose 0.5% in September — the ninth straight month of growth — lifting prices 6.2% higher than a year ago and to new record highs.
Eleanor Creagh (pictured), REA Group senior economist, said price patterns along train lines were largely driven by proximity to key job and lifestyle hubs.
“Generally, suburbs further down a train line tend to be more affordable because they sit further from the cities’ major employment and lifestyle hubs,” Creagh said. “That extra distance and travel time translates into lower land values.”
However, she said the trend was not always uniform, with pockets of high-value suburbs defying the rule.
“There are many nuances where desirable schools, beaches, or a suburb’s lifestyle amenity and character can provide exceptions,” Creagh said.
The PropTrack economist said the broader market remains strong, with renewed confidence and lower borrowing costs driving activity.
“The housing market remains on a firm upward trajectory this spring selling season,” Creagh said. “The combination of increased borrowing capacities and stronger buyer confidence is underpinning a broad uplift.”
Some of the biggest price gaps between adjacent suburbs were found in Melbourne’s east.
Buyers in Caulfield could save more than $1.1 million compared with the next stop closer to the city, Malvern.
Caulfield’s median house price sits at $1.87 million, compared with $2.99 million in Malvern.
Real estate agent and Gary Peer director Leon Gouzenfiter said Caulfield offered far better value.
“It does seem to be a lot better value,” Gouzenfiter said. “Once you cross Dandenong Road into Malvern, Armadale and South Yarra, there is a significant increase in price.”
Other sharp contrasts include Box Hill and Mont Albert (a difference of $923,500) and Heidelberg and Eaglemont ($887,500).
In Sydney, the largest saving appeared between Oatley and Como, just three minutes apart by train but separated by the Georges River.
Buyers in Como could pay $747,500 less than those in Oatley.
Real estate agent and Fox & Wood director Jed Wood said Como’s affordability was drawing more buyers across the river.
“Como has that little bit of seclusion,” Wood said. “It’s very much a family-oriented area. It’s well and truly popular with buyers, particularly when they identify that it’s only one stop away on the train line.”
Creagh noted that prestige and lifestyle factors can outweigh proximity to the CBD.
“Prestige enclaves or lifestyle destinations at the end of the line can command a premium where amenity, coastal proximity or scarcity outweigh the distance factor,” she said.
Elsewhere in Sydney, buyers could save $492,000 in Turramurra compared with Pymble, $410,000 in Chatswood versus Artarmon, and $300,000 by buying in Ashfield instead of Summer Hill.
In Perth, house prices in Cottesloe and Mosman Park differ by $662,500, despite being adjacent. Similar gaps appear between Mount Lawley and Maylands ($470,000) and Stirling and Warwick ($457,500).
Brisbane buyers can save $502,000 by choosing Corinda instead of Sherwood, or $362,500 by buying in Murarrie instead of Cannon Hill.
Even in smaller markets like Adelaide, PropTrack found pockets of value – though fewer dramatic examples – with proximity to the beach often driving prices higher despite longer commutes.
For mortgage brokers, the data highlights the growing affordability gap between inner and middle-ring suburbs, creating more opportunities for first-home buyers and investors.
With home values now at record highs nationwide, buyers are increasingly seeking affordable alternatives in suburbs just one or two train stops further out.
Suburbs one stop further from the city are offering significant entry-point advantages, often with minimal impact on commute times – a trend brokers can leverage to help clients balance lifestyle and budget priorities.
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