The property market is in constant flux and it can be hard to keep up with which suburbs are residential hot spots and which are likely to be too expensive to live in. That’s why PRDnationwide’s Affordable and Liveable Property Guide is so great. Covering the first quarter of this year, it provides insights into which suburbs are the most affordable and lifestyle-friendly across Australia.
The report found that Richmond, just 3km from Melbourne’s CBD, has a rental yield of 4.5 per cent. And yet despite this, the price growth has stagnated, so you can buy a one bedroom apartment there for less than $400,000. In fact, at MADE in Church Street you can purchase a home for as little as $380,000 — which is remarkable for a suburb so close to the city.
Richmond is also an ideal suburb for a connected lifestyle. It’s in close proximity to a medical centre, schools, shops, public transport, and green parklands. Its vacancy rate dropped to an all-time low of 1.2 per cent in December last year, sitting well below Melbourne Metro’s average of 2.2 per cent.
The north-west of Sydney has been experiencing rapid growth and re-gentrification, making it a hotspot for first-time buyers and investors but now, the south-east has become more affordable and liveable. Rockdale, Peakhurst, and Hurstville are the most popular and lowest in price but surrounding suburbs such as Kogarah and Belfield are also highly affordable.
Setting the design bar high for stunning residences in the revitalisation happening in Kogarah, Veridian offers homes starting from $450,000. Alternately, The Mason offers the advantages of inner-city living within a luxurious oasis away from the hustle and bustle of daily life for as little as $590,000.
Just 2.3km from Brisbane's CBD, Herston has achieved an outstanding annual price growth of 23.4 per cent and yet property remains highly affordable. Investors are buying in the area thanks to a rental yield of 5.4 per cent. An estimated $96.9 million of government projects are set to start there this year, primarily to do with infrastructure.
Meanwhile, the inner-city suburbs have become an attractive residential zone for those looking to live a unique riverfront lifestyle. Located right next to Cross River Rail in Woolloongabba, Silk One’s apartments begin at $378,000. The project features Brisbane’s first and only rooftop Skystand, overlooking the iconic Gabba and featuring expansive CBD views.
Dickson in Canberra was rated one of the most affordable and liveable suburbs in Canberra — with median apartment prices sitting at $509,900 and vacancy rates at a phenomenal low of 0.7 per cent.
You can purchase an apartment at the exciting new mixed-use precinct DKSN for as little as $284,900. Combining stunning homes with a medley of restaurants, cafés, bars, boutiques, a supermarket, gym, and state-of-the-art office space — and not to mention a major transport hub — DKSN takes inner-city living to a whole new level.