The suburbs across some of Australia’s capital cities with a median unit price under $500,000 have been revealed, offering new hope for those trying to break into the property market.
The Domain House Price Report found 63 suburbs across Australia have a median price under $500,000, with the list spread across most of the major capital cities.
However, it excludes Sydney and Hobart.
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The most affordable suburb is Osborne Park in Perth with a median unit price of $266,500, just 6km from the CBD.
The second most affordable is Glendalough, also in Perth, with a median price of $267,5000 just 5km from the city centre.
On the east coast, Melbourne has a handful of suburbs where units are under $500,000.
Carlton’s median price is $345,000, while Travancore is $358,500, and West Footscray is $362,500.
Meanwhile, in Adelaide, there are several affordable suburbs within 10km of the CBD.
Plympton has a median price of $352,500, while Tonsley prices sit at $383,500, and St Clair at $410,000.
While Brisbane apartments have reached new price highs, Queenslanders are still able to find something below $500,000 in some areas of the city.
Fortitude Valley’s median unit price is just $430,000, just a kilometre from the CBD.
This is followed by Bowen Hills at $436,000, which is 3km from the city centre, while Northgate is $471,000 and is 9km from the CBD.
