Six suburbs, equal distance to a capital city, and how they measure up

A house within close proximity of any CBD can be a coveted find for those seeking to live near the heart of the action. But the cost of buying in differs significantly from one Australian capital to the next.

The same distance from the city does not guarantee you the same type of house, price, amenities or public transport options. Some are heavily contested first-home buyer hotspots, while others are blue-chip strongholds.

From Sydney to Melbourne, Brisbane to Canberra, and Adelaide to Perth, here’s what a house can set you back if you travel seven kilometres south of the city centre.

Sydney: Mascot

Median house price: $1.318 million (Domain)

Hosting the airport, the Sydney headquarters of major companies such as Electrolux and Jaguar, and the now infamous Mascot Towers building, this suburb has an eclectic mix of residential stock.

Although Mascot is widely known as a hotspot for apartment construction, particularly near the train station, it also has a range of houses on offer.

Michael Michos of RRE Properties said the area was popular due to its proximity to the city, its access to public transport, and for being relatively close to eastern suburbs beaches. Eastlakes Shopping Centre is also about two kilometres away.

Mr Michos said houses ranged from $1.25 million to $2 million depending on quality and size, with non-brick homes proving the most affordable. Styles range from semis to modern two-storey homes, older Californian bungalows and Federation-era residences.

He pointed to young families as the typical buyers for houses, saying that activity had been bolstered by low interest rates.

“A lot of people have been renting family homes [or] have been living in apartments and want to upgrade before the market shifts too much,” he added. “There’s strong demand for properties up to $1.5 million.”

Mr Michos is selling a double brick three-bedder on Aloha Street with a guide of $1.35 million, a property that would have had a guide of $1.6 million to $1.7 million during Sydney’s market boom.

“It’s in a good spot but it needs work,” he said. “It’s been very popular, we had 66 groups through on Saturday.”

Melbourne: Balaclava

Median house price: $1.145 million (PriceFinder)

Despite the possibly sinister connotations of its name, Balaclava is a vibrant inner-city suburb adorned with street art and an increasing range of eateries.

Positioned next to St Kilda, the neighbourhood is near Port Phillip Bay and is serviced by trams, trains and buses.

Its median house price of $1.145 million according to PriceFinder is almost $330,000 more than the median for Melbourne.

Matthew Young from Buxton St Kilda said gentrification had drawn a new wave of buyers to Balaclava, welcoming young professional couples and families. “They’re completing renovations and setting up their lives,” he said. “The cafes and wine bar … lifestyle has gone from zero to 100.”

He said the suburb had a mixture of older and new residents with some homes entering the market for the first time in 40 years or more.

Houses on at least 500 square metres were described as especially tightly held.

Mr Young said semis were popular among first-home buyers, along with townhouses and apartments, but that properties priced at $1.5 million or more – including his four-bedroom listing on Blenheim Street with a $1.6 million to $1.7 million guide – were more likely to attract upgraders.

Brisbane: Moorooka

Median house price: $635,000 (Domain)

Moorooka may not be a blue-chip suburb, but its median house price is still considerably more than the $559,167 median for Greater Brisbane.

With a mix of Queenslanders, new builds and smaller cottages built in the 1940s to house war workers, the suburb is intersected by two main roads. According to Therese Carmichael of Place Estate Agents Woolloongabba, that’s a feature that appeals to investors.

“It’s just that little bit further out [from the CBD] and is more affordable, but has good transport infrastructure in relation to the rail line, and there are a couple of ways you can get into the city,” she said. “You’re not in a bottleneck.”

Ms Carmichael said investors from the Gold Coast and Toowoomba had shown particular interest in Moorooka, due to its proximity to Griffith University. In some cases, these buyers are purchasing properties for their adult children to use while studying.

One of Ms Carmichael’s listings is a six-bedroom residence on Muriel Avenue, with a guide in the early $600,000 range. She said the property catered to a growing demand in the area for homes with a multi-generational layout.

“It’s currently tenanted at $680 per week and when you see the asking price, that is a really good return,” she said.

Ms Carmichael said most entry-level houses appealed to young couples and were priced in the low $500,000s.

Perth: Applecross

Median house price: $1.405 million (Domain)

With a median house price more than double that of Greater Perth, Applecross has earned its prestige status.

Glamorous homes with multimillion-dollar price tags regularly appear on the market, although the area is slightly less expensive than nearby Dalkeith.

Shane Garrett of Acton Central said proximity to the CBD and the coast, as well as street appeal and a close-knit community, helped to explain that eye-watering median.

“Applecross is one of those rare pockets where the land value … [is] protected, so it’s not rife with developments or subdivision,” he said. Mr Garrett noted that families rather than investors were the most common buyer group.

Applecross is wedged between the Swan River and Canning Highway, providing access to Garden City Shopping Centre about three kilometres away. The suburb itself has an IGA and The Good Grocer, with cafes scattered throughout.

Mr Garrett said pricing for houses depended on block size. A well-established home on a decent block, for instance, would typically sell for about $2 million.

Mr Garrett is currently selling a four-bedroom home on Gairloch Street, close to Applecross Primary School. He said comparable sales ranged from $1.7 million for land value alone, to about $1.86 million.

“It is [about] the entry-level price for that street,” he said.

The property has been popular among farmers looking to sell their acreages and move closer to the city, as well as Applecross locals looking to help their children to buy in the area.

Adelaide: Panorama

Median house price: $638,000 (Domain)

Eight kilometres east of the coast near Watiparinga Reserve, Panorama’s median house price is about $100,000 more than the median for Greater Adelaide.

According to Sam Alexander of Klemich Real Estate, the suburb is split between housing stock at ground level, and more expensive homes on elevated streets.

“Most properties are on the flat [section] … those are your ’60s and ’70s double-brick homes on average block sizes of 700 to 800 square metres,” Mr Alexander said, noting that these residences appealed to first-home buyers.

One of his current listings is a four-bedder on Grandview Drive, with sweeping neighbourhood views and a $1.095 million to $1.195 million guide to match. Mr Alexander said the property sat at the top end of the market for Panorama.

The residence is expected to appeal to professionals working at Flinders Medical Centre nearby, which is common for listings on Grandview Drive.

Panorama is close to shops in Pasadena and respected schools such as Mercedes College and Scotch College. Mr Alexander said the area was well-serviced by public transport including buses and trains from Lynton Station.

Canberra: Farrer

Median house price: $900,000 (PriceFinder)

It may not be an inner-city suburb, but that hasn’t stopped buyers from zeroing in on Farrer. Its house price median according to PriceFinder is a tidy sum compared with Greater Canberra’s $741,947 median.

The family-oriented neighbourhood has a small shopping strip that includes cafe darling Fox & Bow, with buses to take residents to Westfield Woden and to the CBD.

Farrer’s large homes on larger blocks add to the family-friendly appeal. Anthony McCormack from Luton Properties Woden said most blocks were about 1000 square metres in size.

He said houses on generous blocks near Farrer Ridge – a nature stretch popular for walking and cycling – were among the most prestigious in the suburb.

Mr McCormack said entry-level houses started in the mid-to-high $700,000s with the most prized homes worth up to $2 million.

A four-bedroom home for sale through Luton Properties Dickson sits within the lower range, on offer with a $849,000 guide.