Affordable city units still exist


Nick Bendel

Nick Bendel

( 3 min read )

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Sydney is the only capital where it’s almost impossible to buy an apartment in the heart of the city for less than $500,000, new CoreLogic research has found.

Heading out from the centre of Sydney, the first suburb you come to where the median unit price is under $500,000 is Lakemba – which is 12.4 kilometres from the CBD.

The next four suburbs on CoreLogic’s list are Wiley Park, Punchbowl, Regents Park and Guildford (see below).

But residents of the other capitals – including Melbourne – can find suburbs in the heart of their city where the median unit price is under $500,000.

For a $500,000 property, anyone who wanted to take out a home loan with a loan-to-value (LVR) ratio of 80 per cent would need to save a deposit of $100,000 and borrow $400,000.

Sydney

Suburb

Median value

Kilometres from CBD

Lakemba

$435,314

12.4

Wiley Park

$439,000

14.3

Punchbowl

$495,749

15.6

Regents Park

$481,749

16.0

Guildford

$484,938

17.4

Melbourne

Suburb

Median value

Kilometres from CBD

Melbourne

$487,071

0.0

Carlton

$406,579

1.4

Flemington

$394,625

3.8

Kensington

$489,413

3.9

Travancore

$403,749

4.0

Brisbane

Suburb

Median value

Kilometres from CBD

Brisbane City

$473,101

0.0

Spring Hill

$405,351

0.6

South Brisbane

$467,662

0.7

Kangaroo Point

$487,604

0.8

Fortitude Valley

$396,391

0.8

Adelaide

Suburb

Median value

Kilometres from CBD

Adelaide

$420,871

0.0

Kent Town

$444,757

0.2

Lightsview

$360,304

0.8

Gilberton

$475,326

0.9

Trinity Gardens

$395,343

0.9

Perth

Suburb

Median value

Kilometres from CBD

Perth

$419,148

0.0

Northbridge

$439,407

0.9

West Perth

$425,270

1.5

East Perth

$445,251

1.5

Highgate

$332,451

1.8

Hobart

Suburb

Median value

Kilometres from CBD

West Hobart

$472,055

1.5

North Hobart

$453,070

1.6

Dynnyrne

$378,976

2.2

Mount Stuart

$348,694

2.4

South Hobart

$375,052

2.8

Darwin

Suburb

Median value

Kilometres from CBD

Darwin City

$423,989

0.0

The Gardens

$422,001

1.3

Larrakeyah

$470,331

1.5

Stuart Park

$427,098

1.5

Woolner

$443,406

2.9

Canberra

Suburb

Median value

Kilometres from CBD

Dickson

$416,393

0.6

Braddon

$449,901

0.9

Reid

$449,927

0.9

O’Connor

$456,499

2.2

Downer

$393,709

3.3

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