Home buyers looking for an affordable inner city dwelling have not missed the boat, according to new research from RP Data.
RP Data's research analyst Cameron Kusher said there are still opportunities to purchase relatively affordable inner city properties.
"An issue for some buyers is that the more affordable dwelling options closer to the city won't necessarily be the properties with a plethora of modern amenities such as media rooms, an ensuite or enclosed double garages, to name a few," he said.
"Affordable close-to-city homes are also likely to exceed the 30 year age bracket, and can often come with costly maintenance requirements. The upside is that these homes are likely to be on larger blocks of land."
In Sydney, the most affordable suburbs close to the city are Sydenham, Guildford, Heckenberg, Lethbridge Park, Willmot and San Remo.
Sydneyham, which is less than 10km from the CBD, has a median price of $558,500.
While in Melbourne, Braybrook, which is less than 10km from the city centre, represents the best buy, with a median house price of $390.000.