- Identified through new research by Well Home Loans
- A family suburb is one that meets five key indicators
- 14 of them have a median house price under $1 million
Around Australia, the top 20 family housing markets have been identified through new research by Well Home Loans.
Well Home Loans CEO Scott Spencer said the ranking provides valuable information for families planning their next purchase.
“Families want to live in suburbs that have lots of other families to socialise with, a high share of owner-occupiers to provide stability and good schools to educate their children.
“They also want to buy into suburbs that are likely to enjoy reasonable capital growth over the long-term, even if it’s not necessarily market-beating growth.”
According to Well Home Loans, a family suburb is one that meets five key indicators:
- Median sale price between $200,000 and $1.5 million
- Owner-occupiers making up at least 70% of the local population
- Freestanding houses making up at least 60% of the local dwellings
- Family households making up at least 60% of the local population
- A SEIFA education and occupation score of at least 6 (which puts it in the top half of the country for educational and occupational status, based on the Australian Bureau of Statistics’ Index of Education and Occupation)
Mr Spencer said the 20 suburbs are affordable, with 14 of them having a median house price under $1 million.
“They’re also quite diverse, there are 13 metro and seven regional markets, spread across seven of the eight states and territories.”
Top 20 family home suburbs
|4||New Lambton Heights||NSW||2305||$972,000|
|12||One Tree Hill||SA||5114||$752,000|
Source: Well Home Loans, 2021