Affordable outer suburbs for family homes,
As home prices continue to rise, families are finding it increasingly challenging to purchase properties located close to the city.
This trend makes it more difficult for families to secure affordable housing options near urban centers, leading to significant concerns.
However, in several outer suburbs, three- and four-bedroom houses remain significantly below the median prices of their respective capital cities.
According to PropTrack’s August Home Price Index, house prices in our combined capital cities increased by 6.8% over the last twelve months.
As a result, prices have now reached a new peak, reflecting a 46% increase compared to March 2020 levels.
Demand for our capital cities has remained strong over the past year, with price growth surpassing that of regional areas.
Regional areas only experienced a 5.4% increase, highlighting the stronger performance of the capital cities in comparison.
This trend is evident when comparing the median days on the market for properties listed as of August 2023.
In all capitals, except Melbourne and Hobart, houses are selling faster than they were a year ago, indicating strong demand.
trends favor sellers, they create a more competitive and expensive environment for families wanting to purchase homes in prime areas.
However, there are still several outer-ring suburbs where three- and four-bedroom houses remain modestly priced and accessible.
For three-bedroom houses, San Remo, Blue Haven, and Lake Munmorah ranked as the most affordable suburbs over 24 kilometers from Sydney CBD.
The median prices for three-bedroom houses in these suburbs were $660,000, $675,000, and $703,000, respectively, reflecting significant affordability.
In Melbourne’s outer suburbs, Melton South, Melton, and Kurunjang offered the most competitively priced three-bedroom houses in the region.
These houses cost $465,000, $470,000, and $500,000, all of which are well below the city’s median price of $799,000.
Additionally, Russell Island, Macleay Island, and Laidley featured the cheapest three-bedroom houses among the outer-ring suburbs of Brisbane.
These suburbs provide valuable options for families seeking affordable housing outside major urban centers.
Most affordable outer-ring suburbs for three-bedroom houses.
| Suburb | Capital city | Median sale price | Distance from CBD |
| San Remo | Sydney | $660,000 | 25km+ |
| Blue Haven | Sydney | $675,000 | 25km+ |
| Lake Munmorah | Sydney | $703,000 | 25km+ |
| Melton South | Melbourne | $465,000 | 24km+ |
| Melton | Melbourne | $470,000 | 24km+ |
| Kurunjang | Melbourne | $500,000 | 24km+ |
| Russell Island | Brisbane | $400,000 | 24km+ |
| Macleay Island | Brisbane | $453,000 | 24km+ |
| Laidley | Brisbane | $458,000 | 24km+ |
| Elizabeth North | Adelaide | $416,000 | 16km+ |
| Elizabeth Downs | Adelaide | $449,000 | 16km+ |
| Davoren Park | Adelaide | $450,000 | 16km+ |
| Pinjarra | Perth | $410,000 | 20km+ |
| Calista | Perth | $451,000 | 20km+ |
| Medina | Perth | $476,000 | 20km+ |
| New Norfolk | Hobart | $452,000 | 12km+ |
| Claremont | Hobart | $520,000 | 12km+ |
| Brighton | Hobart | $571,000 | 12km+ |
| Moulden | Darwin | $380,000 | 15km+ |
| Woodroffe | Darwin | $410,000 | 15km+ |
| Gunn | Darwin | $485,000 | 15km+ |
For suburbs located more than 16 kilometers from Adelaide’s CBD, Elizabeth North, Elizabeth Downs, and Davoren Park offered the most affordable three-bedroom houses.
These houses were priced between $416,000 and $450,000, making them attractive options for budget-conscious buyers.
In outer Sydney, Blue Haven, Bradbury, and Blackheath had the cheapest four-bedroom houses, with prices set at $750,000, $880,000, and $880,000, respectively.
Meanwhile, in our second-largest capital, Brookfield, Kurunjang, and Weir Views ranked as the most affordable for four-bedroom houses among outer-ring suburbs.
The median prices for these homes were $553,000, $571,000, and $575,000, respectively, appealing to families seeking value in housing.
Most affordable outer-ring suburbs for four-bedroom houses
| Suburb | Capital city | Median sale price | Distance from CBD |
| Blue Haven | Greater Sydney | $750,000 | 25km+ |
| Bradbury | Greater Sydney | $880,000 | 25km+ |
| Blackheath | Greater Sydney | $880,000 | 25km+ |
| Brookfield | Greater Melbourne | $553,000 | 24km+ |
| Kurunjang | Greater Melbourne | $571,000 | 24km+ |
| Weir Views | Greater Melbourne | $575,000 | 24km+ |
| Laidley | Greater Brisbane | $504,000 | 24km+ |
| North Booval | Greater Brisbane | $521,000 | 24km+ |
| Lowood | Greater Brisbane | $540,000 | 24km+ |
| Andrews Farm | Greater Adelaide | $597,000 | 16km+ |
| Munno Para West | Greater Adelaide | $601,000 | 16km+ |
| Craigmore | Greater Adelaide | $610,000 | 16km+ |
| Armadale | Greater Perth | $530,000 | 20km+ |
| Coodanup | Greater Perth | $565,000 | 20km+ |
| Greenfields | Greater Perth | $571,000 | 20km+ |
| Gunn | Greater Darwin | $560,000 | 15km+ |
| Rosebery | Greater Darwin | $590,000 | 15km+ |
| Zuccoli | Greater Darwin | $630,000 | 15km+ |
For suburbs located more than 24 kilometers from the Brisbane CBD, Laidley, North Booval, and Lowood offered the most affordable four-bedroom houses.
In Perth, four-bedroom houses in Armadale, Coodanup, and Greenfields were priced at $530,000, $565,000, and $571,000, respectively.
These suburbs are recognized as the cheapest options for four-bedroom houses situated over 20 kilometers from the CBD.
Despite interest rates being at their highest level in 12 years, buyer demand remains strong, particularly in competitively priced areas.
We expect this trend to continue as we approach the spring season, with market activity anticipated to increase significantly.
Additionally, with interest rates expected to decrease by early next year, we foresee prices continuing to rise in the coming months.
