Cheapest and most affordable Australian suburbs to buy within 10km of each CBD

• Many Australians are now seeking properties closer to the CBD
• In Sydney and Melbourne, more affordable unit options are available in comparison to houses
• In the smaller cap[itals, especially Perth, there are house markets where suburbs less than 10km from the CBD have a median house price below that of the entire city

Although many Australians looked to outer areas during the height of the pandemic in search for more space, many are now looking for properties within a stone’s throw of the CBD.

Therefore, finding a place within 10 kilometres of the CBD is now at the top for many buyers.

According to the latest Domain House Price Report, Sydney and Melbourne generally offer more options for units rather than houses closer to the city. However, in the smaller capital cities, there is still a range of choices for buyers undecided on whether to purchase a house or unit closer to their metropolis.

“Realistically, rising interest rates and inflation has meant that city living is somewhat out of reach for many Australians,” noted Nicola Powell, Domain Chief of Research and Economics.

“However, there are still some affordable options for buyers close to the city, especially if buyers are willing to be flexible on their inner city location and property type,” said Dr Powell.

“It’s great to see our cities have started to come back to life after last year’s lockdowns. We expect this momentum to continue into next year as many workers opt to spend more days working from city offices.”

Tips for finding the best suburb within 10km of the CBD

Domain Property Editor Alice Stolz said that every buyer should have a list of must-haves when deciding which suburb to purchase a property in.

“Generally, close proximity to public transportation as well as key amenities like schools, cafes and shops and leafy green spaces should be at the top of property purchasers ‘wants and needs’ list.

“One of my top pieces of advice for buyers is to visit the suburbs that fit within your budget. Take a walk around, sit and have a coffee, head to the nearest park and visit the local shops – really get a sense of the area and its surroundings.

Alice Stolz, Domain Property Editor

“If your budget isn’t matching up, don’t be put off by slightly expanding your search to the outer city bubble. In the larger capitals, there are still plenty of affordable options within the 10-20km mark with strong links to quick public transport.”

Cheapest suburbs within 10 km of the Sydney CBD

Houses

For the largest city in the nation, the cheapest suburb that falls within 10 km of the CBD for houses is Campsie. The median house price there is $1.35 million, according to Domain.

For those seeking apartments, Canterbury is the most affordable with a median unit price of $650,000.

Units

For buyers looking even closer to the CBD, St Peters in the Inner West offers the valuable house option six kilometres from the CBD, However, the median price in this suburb is well above the $1.46 million Sydney median. Units in Eastlakes have a median below $700,000 and are just 7km from the CBD.

Cheapest suburbs within 10 km of the Melbourne CBD

Houses

Over the past year, Melbourne house and unit price growth has gained momentum. However, median prices are still well below that of Sydney. Buyers can take advantage of the region’s affordable prices in the west and north.

Units

Maidstone in the city’s west offers the most affordable price at 10km out of the CBD with a $829,000 median house price. Travancore, six kilometres out of the CBD, has the most affordable unit market in Melbourne.

Cheapest suburbs within 10km of the Brisbane CBD

Units

Next to Fortitude Valley is Spring Hill, which is the cheapest suburb within 10km of the Brisbane CBD, with a $430,000 median unit price. Extraordinary, given it Is one kilometre from the CBD.

However, those looking for a house are better placed to seek out properties in Hemmant and Tingalpa, both 10 km from the CBD.

Houses

Hemmant is the only suburb that offers a median house price below that of Brisbane’s $811,000 median.

Cheapest suburbs within 10km of the Perth CBD

Thanks to Perth having one of the lowest median house prices – despite the booming resources sector which has pushed wages – confidence in the housing market remains relatively high.

All of the most affordable house and unit markets on this list is well below Perth’s median, showing there are plenty of bargains for buyers.

Houses

Cannington and Westminster are the cheapest house markets, and are almost $250,000 below the Perth median.

Units

Osborne Park, seven kilometres north, is the cheapest unit market at only $219,000. Osborne Park is also around seven kilometres from the nearest beach.

Cheapest suburbs within 10km of the Adelaide CBD

As a result of rapid property price growth during the past year, buyers in Adelaide are expected to pay over $500,000 for a house or between $280,00 to $340,000 for a unit near the CBD.

Units

If seeking a good all-rounder that is affordable, Adelaide’s Metro West offers the most choice for buyers.

Within nine kilometres of the CBD, the best value for a house is St Clair, followed by Woodville

Houses

Cheapest suburbs within 10km of the Canberra CBD

Although Sydney and Melbourne are touted as the most expensive cities in Australia, Canberra offers very few suburbs with a median house price of below $1 million within 10 kilometres of the CBD.

Houses

Higgins, in the lush region of Belconnen, is the cheapest to buy a house within 10 kilometres of the CBD. Bruce is the cheapest unit market, with a median of $421,125.

Units

Cheapest suburbs within 10km of the Darwin CBD

For buyers looking for a house within 10 km of the Darwin CBD, the cheapest for houses is the suburb of Berrimah, with a $235,000 median, down 22% on an annual basis.

Houses

Unusually, units are cheaper than houses in this case.  The cheapest unit market less than 10 kilometres from the CBD is Parap. The median there is $400,000,  but is just three kilometres from the CBD. Parap has good public transport links, a range of local pubs and restaurants and the Parap Village Markets occur on the weekend.

Units