NEW Property Market Insights: Australia's most affordable & liveable suburbs revealed!
Published on: May 27, 2021
The Australian property market has seen a record number of first home buyers dipping into the housing market.
The latest Affordable and Liveable Property Guide provided by PRD Research Hub showcases which capital cities (Brisbane, Sydney, Melbourne, and Hobart. ) is the perfect go-to city for first-time buyers and investors.
These guides provide valuable insights and highlights of the market and report on many critical indicators to create a holistic picture of property conditions in each capital city.
Each report focuses on suburbs within a 20km radius of the CBD (or 10km for Hobart), which also take into consideration the following criteria:
Property trends criteria
Investment criteria
Affordability criteria
Development criteria
Liveability criteria
These are the following significant findings in the PRD Affordable and Liveable Property Guide for the first half of 2021:
- Sydney proves to be the most affordable city for liveability,
Residents can buy their own home in a liveable suburb for 87% less
(premium added to New South Wales average home loan) than the premium required to purchase in Sydney Metro.
Melbourne Metro is the runner-up at 42% less, and Brisbane third at 16% less.
Sydney’s premium difference in the 1st Half 2021 report is higher than the 2nd Half 2020 report, of 70%. This is highly advantageous to first home buyers
- The geographic pocket of affordable and liveable chosen suburbs has remained stable for Sydney (south and south-west) and Hobart (equally spread), as per the 2nd Half 2020 report. Melbourne has shifted from chosen suburbs to being primarily in the northside. In contrast, first home buyers in Brisbane can now find affordable and liveable selected suburbs in both north and south-side of the CBD, a difference from the northern centric of the 2nd Half 2020 report.
- Hobart is no longer a capital city where residents must sacrifice affordability for liveability, as per 1st Half 2020 and 2nd Half 2020 reports. Residents now only need to pay a premium of 57% (for houses) and 25% (for units) above the Tasmanian (TAS) average home loan to secure a highly liveable suburb. These premiums are now lower than the percentage required to purchase a median-priced property in Hobart Metro (71% for houses and 39% for units).
If you want a detailed guide of the following cities mentioned in this blog, you can download the report by clicking the buttons below.
Affordable and Liveable Property Guide Brisbane
Affordable and Liveable Property Guide Sydney
