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Sydney, Melbourne and Brisbane suburbs offer affordability and solid investment fundamentals, report finds


Despite recent price rises, first home buyers can still find affordable suburbs with good investment potential in Australia’s three biggest capitals, according to PRD’s latest Affordable and Liveable Property Guides.

The firm analysed all areas of Sydney, Melbourne and Brisbane to assess their relative affordability, investment return, liveability and future stock projections. Brisbane proved to be the most welcoming for first home buyers, with 27.6 per cent of its suburbs deemed affordable for house buyers and 43.1 per cent for unit buyers. However, PRD’s chief economist, Dr Diaswati Mardiasmo, noted that even in Brisbane, the percentage of affordable areas has contracted noticeably in the past year.

Sydney was found to be the least friendly major capital for finding affordable houses, with only 11.1 per cent of suburbs falling into that category. Despite this, many suburbs across Sydney and Melbourne are still experiencing negative growth as they continue their recovery, presenting an opportunity for first home buyers who can act now.

The most affordable Sydney suburbs with incoming new supply and good investment fundamentals were determined to be:


  • Chester Hill; median price: $1,052,500
  • Granville; median price: $1,000,500
  • Villawood; median price: $884,000


  • Bankstown; median price: $522,500
  • Lakemba; median price: $450,000
  • Merrylands; median price: $480,000

In Melbourne, the most affordable suburbs were:



  • Albanvale; median price: $597,500
  • Ardeer; median price: $650,000
  • Lalor; median price: $685,000


  • Williams Landing; median price: $405,000
  • Bundoora; median price: $455,000
  • Kensington; median price: $490,000

Brisbane’s most affordable suburbs were:


  • Strathpine; median price: $685,000
  • Griffin; median price: $720,000
  • Alexandra Hills; median price: $725,000


  • Springwood; median price: $420,000
  • Richlands; median price: $458,600
  • Griffin; median price: $470,000

These suburbs, underpinned by solid investment fundamentals, offer good entry points into the market for first home buyers looking to purchase in Australia’s three biggest capitals.

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