A recent analysis of Australia’s property market by Cotality provides insights into entry-level pricing for homes near major cities. The data highlights suburbs within a 10-kilometre radius of key urban centres where property values are most accessible, particularly at the 25th percentile.
In Sydney, the most budget-friendly area for purchasing a house is Zetland, situated south of the CBD, with an entry-level price of approximately $1.4 million—around $350,000 lower than the suburb’s median value. For units, Ultimo ranks as the most affordable suburb, followed by Canterbury and Chippendale.
Meanwhile, in Melbourne, Maidstone offers the lowest entry-level house price at roughly $768,000. The most economical apartment can be found in Carlton, where entry-level prices sit at $290,000.
Brisbane’s affordable housing market reveals Rocklea as the cheapest suburb for houses, with an entry-level price of $673,000, followed closely by Chermside at $828,000 and Keperra at $914,000. For units, Spring Hill and Fortitude Valley provide lower entry points, priced at $462,000 and $485,000, respectively.
In Adelaide, Lightsview stands out as the most affordable suburb for entry-level houses at $700,000, while Kurralta Park is the cheapest area for apartments, with prices around $431,000.
Perth’s Nollamara offers entry-level homes for approximately $627,000, with the cost for units in Wembley at $405,000. This is similarly competitive, with Canberra’s Lyons presenting an entry-level apartment costing $347,000, and Darwin’s Millner providing an even lower price at about $294,967.
Hobart’s property scene features entry-level units in Glenorchy priced around $414,000, and houses in Risdon Vale beginning at $439,000. For Darwin, the most affordable homes can be found in Coconut Grove at $481,000.
Overall, these findings showcase the varying entry-level prices across Australia’s capital cities, giving prospective buyers insight into where they might find the most affordable options to enter the property market.