- Three units feature on the list, with the remainder houses
- Includes one suburb that sits just minutes from the Sydney CBD
- Median prices for these suburbs were typically between $600K and $800K
Over the past few weeks, The Property Tribune has been exploring the best suburbs for first home buyers.
Last week we explored the Top 10 Suburbs in Perth, the most affordable city in Australia, and prior to that, Melbourne.
Canstar’s The Australian First Home Buyer Report ranked the eight capital cities and six regional states and territories from most affordable to least affordable.
It came as no surprise Sydney came stone dead last, in overall rankings, see below, but what suburbs are still a good buy in the harbour city?
- Regional WA,
- Regional SA,
- Perth,
- Regional Queensland,
- Regional Tasmania,
- Regional Victoria,
- Regional NSW,
- Brisbane,
- Darwin,
- Adelaide,
- Hobart,
- Canberra,
- Melbourne,
- Sydney.
The Canstar report
Hotspotting property expert and co-producer of the Bright Starters Report, Terry Ryder, said, “The Report found a dual-income couple can save a 10 per cent deposit in under two and a half years in eight of the 14 market jurisdictions across Australia. This means if you’re smart about where you buy, you could hold the keys to your first home in less time than you think.”
“It’s not just about affordability for first home buyers – they also want desirability and the knowledge that their home will grow in value over time. This Report also highlights 107 suburbs around the country that offer the full package – affordable dwellings, amenities and lifestyle and prospects for growth.
Affordability rankings were determined by setting the price based on the lower quartile or 25th percentile sales price for houses in each location. These prices were sourced from Dashdot and are based on data published by CoreLogic in January 2022 (meaning December 2021 data).
The suburbs were also chosen from the 25th percentile for sales price and allowed for a variation of up to 10%. For a town or suburb to be eligible, the median price had to be lower than the aforementioned figure. For example, if the lower quartile sales price was $255,000 then the median price needed to be $280,500 or less for a location to
be included.
Canstar then applied the following five parameters:
- Sales volumes, data from domain.com.au,
- Quarterly price growth, data from CoreLogic and smartpropertyinvestment.com.au,
- Vacancy rates, data from SQM Research
- Infrastructure, data from multiple sources, and
- Proximity to work and amenities, data from multiple sources.
Liverpudlians delight
Well, maybe. It depends on if you want a unit. Three suburbs that made the list considered units as an option to buy, with the others including Sutherland, and Hillsdale; Hillsdale of course a slightly leafier, and convenient option if you’re looking for a short commute to the coat hangar.
| Suburb | Median price | 1-year growth | Median rent |
| Bradbury | $650,000 | 12% | $520 |
| Doonside | $740,000 | 15% | $400 |
| Hillsdale (U) | $680,000 | 14% | $400 |
| Kingswood | $770,000 | 20% | $400 |
| Leumeah | $685,000 | 11% | $395 |
| Liverpool (U) | $470,000 | 5% | $350 |
| Lurnea | $800,000 | 16% | $450 |
| Mt Druitt | $770,000 | 15% | $405 |
| St Marys | $760,000 | 16% | $400 |
| Sutherland (U) | $685,000 | 6% | $460 |
How much are you paying?
Depending on whether you’re putting down a 10% or a 20% deposit, the time to save can vary.
Best Sydney suburbs for first home buyers on a 20% deposit
| Suburb | Initial outlay | Time to save (single income) | Time to save (dual income) | Monthly repayments | |
| Bradbury | $130,295 | 12 yrs 7 mths | 5 yrs 10 mths | $2,226 | |
| Doonside | $167,078 | 16 yrs 3 mths | 7 yrs 6 mths | $2,534 | |
| Hillsdale (U) | $142,556 | 13 yrs 10 mths | 6 yrs 5 mths | $2,329 | |
| Kingswood | $179,339 | 17 yrs 6 mths | 8 yrs 1 mth | $2,637 | |
| Leumeah | $144,600 | 14 yrs | 6 yrs 6 mths | $2,346 | |
| Liverpool (U) | $94,295 | 8 yrs 9 mths | 4 yrs 2 mths | $1,610 | |
| Lurnea | $191,600 | 18 yrs 8 mths | 8 yrs 7 mths | $2,740 | |
| Mt Druitt | $179,339 | 17 yrs 6 mths | 8 yrs 1 mth | $2,637 | |
| St Marys | $175,252 | 17 yrs 1 mth | 7 yrs 10 mths | $2,603 | |
| Sutherland (U) | $144,600 | 14 yrs | 6 yrs 6 mths | $2,346 | |
Best Sydney suburbs for first home buyers on a 10% deposit
| Suburb | Initial outlay | Time to save (single income) | Time to save (dual income) | Monthly repayments | |
| Bradbury | $65,295 | 5 yrs 10 mths | 2 yrs 10 mths | $2,645 | |
| Doonside | $93,078 | 8 yrs 3 mths | 4 yrs | $3,011 | |
| Hillsdale (U) | $74,556 | 6 yrs 8 mths | 3 yrs 3 mths | $2,767 | |
| Kingswood | $102,339 | 9 yrs 1 mth | 4 yrs 5 mths | $3,133 | |
| Leumeah | $76,100 | 6 yrs 10 mths | 3 yrs 4 mths | $2,787 | |
| Liverpool (U) | $47,295 | 4 yrs 2 mths | 2 yrs 1 mth | $1,903 | |
| Lurnea | $111,600 | 9 yrs 10 mths | 4 yrs 10 mths | $3,255 | |
| Mt Druitt | $102,339 | 9 yrs 1 mth | 4 yrs 5 mths | $3,133 | |
| St Marys | $99,252 | 8 yrs 10 mths | 4 yrs 4 mths | $3,093 | |
| Sutherland (U) | $76,100 | 6 yrs 10 mths | 3 yrs 4 mths | $2,787 | |
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Top 10 suburbs for first home buyers in Sydney
- Bradbury
- Doonside
- Hillsdale (Units)
- Kingswood
- Leumeah
- Liverpool (Units)
- Lurnea
- Mt Druitt
- St Marys
- Sutherland (U)
