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Affordable inner-city housing revealed

18 August 2014 Staff Reporter

Affordable inner-city housing can still be found in every capital city except Sydney, although time may be running out, says RP Data.

Wolli Creek, which has a median house price of $710,000, is the most affordable suburb within 10 kilometres of central Sydney, according to the RP Data research.

Waterloo follows at $761,000, Sydenham at $807,000, Beaconsfield at $811,000 and Tempe at $829,000.

Melbourne’s most affordable inner-city suburbs are Bellfield at $533,000, Maidstone at $544,000, West Footscray at $572,000, Footscray at $592,000 and Yarraville at $656,000.

Brisbane’s top five are Rocklea at $331,000, Keperra at $416,000, Tingalpa at $457,000, Chermside West at $472,000 and Nathan at $474,000.

Perth’s standouts are Glendalough at $439,000, Osborne Park at $463,000, Westminster at $489,000, Nollamara at $496,000 and Redcliffe at $523,000.

Adelaide’s most affordable inner-city suburbs are Dry Creek at $255,000, Gepps Cross at $313,000, Mansfield Park at $343,000, Woodville Gardens at $348,000 and Kilburn at $350,000.

RP Data research analyst Cameron Kusher said low interest rates and superior amenities were helping to drive strong demand for inner-city housing in most capitals.

Mr Kusher said inner-city prices were likely to keep rising, which would force potential buyers to look instead at areas “that tick as many of the inner-city boxes” as possible.

“Given this, suburbs featuring quality public transport connections, abundant retail and social amenities, quality schools and medical amenities will likely see renewed interest as inner-city buyers look to these more affordable alternatives,” he said.

Affordable inner-city housing revealed
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