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Where to find Australia’s most affordable and liveable suburbs

By Zarah Mae Torrazo 30 November 2021 | 1 minute read

A new report has revealed where buyers should look if they’re on the hunt for suburbs that do well both in terms of affordability and liveability. 

While surging property values in Australia have seen prices climb for desirable pockets in capital cities, liveable suburbs are not completely out of reach for people who want to avoid hefty price tags, according to the latest PRD Affordable and Liveable Property Guide.

The report crunched the numbers to weigh up the best neighbourhoods for purchasers seeking affordability and liveability combined and are located within a 20-kilometre radius of the Sydney, Melbourne and Brisbane CBD and within 10 kilometres of Hobart’s city centre. 

However, it’s not just about finding the cheapest suburbs to live in. The suburbs named by the report needed to meet a set of criteria to be included in the coveted list. 

In terms of affordability, suburbs were judged by having a median price below a set threshold and by adding a percentage premium to the state’s respective average home loan. 

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Suburbs that were listed also needed to have decent rental yields (meaning they needed to have a similar or higher rental yield than the relevant city metro area, and a similar or lower vacancy rate) and a high estimated value of future project and infrastructure development to ensure that the suburbs showed signs of sustainable economic growth. 

Having low crime rates, an unemployment rate on par with, or lower than, the state average, and proximity to amenities like schools, public transport, shopping centres, green spaces, and health services were also some of the criteria used to analyse the suburbs. 

Simply put, the suburbs listed needed to have everything a home buyer would need for the most affordable price point. 

So whether you’re buying a unit or a house, here are the suburbs worthy of a closer look: 

Sydney’s most affordable and liveable suburbs

Houses 

Suburb 

Median price 

Rental Yield

Future Projects

Peakhurst

$1,426,500

2.8 per cent 

$31.5m

Jannali

$1,353,500

2.7 per cent 

$11.5m

ComoComo, NSW Como, WA

$1,450,000

2.7 per cent 

$11.5m 

Units  

Suburb 

Median price 

Rental Yield

Future Projects

Peakhurst

$751,000

3.9 per cent 

$31.5m

Mortdale

$657,250

3.4 per cent 

$4.5m

Cromer

$812,500

4.3 per cent 

$3.0m

Melbourne’s most affordable and liveable suburbs

Houses 

Suburb 

Median price 

Rental Yield

Future Projects

Keilor East

$920,000

3.2 per cent 

$38.4m

Greensborough

$970,000

2.6 per cent 

$22.2m

Point Cook

$702,000

3.2 per cent 

$25.8m

Units 

Suburb 

Median price 

Rental Yield

Future Projects

Greenvale

$590,000

5.8 per cent  

$9.5m

Hadfield

$600,000

3.5 per cent 

$8.9m

Truganina

$446,000

3.9 per cent 

$1.9bn

Brisbane’s most affordable and liveable suburbs

Houses  

Suburb 

Median price 

Rental Yield

Future Projects

Bracken Ridge

$624,000

3.9 per cent 

$30.2m

OxleyOxley, QLD Oxley, ACT

$695,000

3.8 per cent 

$6.2m

Birkdale

$720,000

3.8 per cent 

$8.5m

 Units  

Suburb 

Median price 

Rental Yield

Future Projects

McDowall

$423,000

5.4 per cent 

$33.9m

Gordon Park

$440,000

5.6 per cent 

$3.0m

Kedron

$449,000

5.6 per cent 

$11.7m

 Hobart’s most affordable and liveable suburbs

Houses 

Suburb 

Median price 

Rental Yield

Future Projects

Oakdowns

$595,000

3.9 per cent 

$6.0m

Berriedale

$480,000

4.2 per cent 

$208.7m

Howrah

$705,000

3.9 per cent

$5.1m

Units  

Suburb 

Median price 

Rental Yield

Future Projects

Moonah

$480,000

5.3 per cent 

$1.8m

Glenorchy

$410,000

5.3 per cent 

$10.6m

Oakdowns

$550,000

5.3 per cent

$6.0m

 

 

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Where to find Australia’s most affordable and liveable suburbs
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