Surprising data reveals affordable inner-city housing exists

Surprising data reveals affordable inner-city housing exists

18 August 2014 by Staff Reporter 0 comments

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

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
William Phillips on how agents can expand their database and grow their business

Get up close and personal with the best real estate sales agents in Australia in Secrets of the Top 100 Agents. ...

View all podcasts

Are dodgy agents being punished enough?

Yes (8.6%)
No (55%)
Only in some states (2.3%)
Not all dodgy agents are being found out (34.1%)

Total votes: 220
The voting for this poll has ended on: April 15, 2017
upcoming events
REB Awards
Sydney The Event Centre 12 Sep
REB Awards
Sydney The Event Centre 12 Sep
Melbourne The Event Centre 14 Oct
Brisbane The Event Centre 18 Dec
View all events
Do you have an industry update?