The cheapest suburbs to buy into 10km or less from a CBD

Buyers seeking an affordable property close to the big smoke will find suburbs where, despite the pandemic-induced price spike, that convergence of budget and convenience is still possible.

Domain has crunched the data on the cheapest suburbs within 10km or less of a CBD, nationally, broken down by medians for houses and units, and the cheapest clocks in at $235,000.

With the work-from-home shine seeming to be fading, central postcodes that may have been less desirable – for a short time – in lieu of a tree or sea change are back in demand. Regardless of buyer mood, pricing in the innermost postcodes has always been sensitive.

Darwin has the most affordable entry-level into the housing market within 10km or less of the CBD. Berrimah, 9km from the heart of Darwin, has a house median of $235,000.

Next is Perth, with Cannington (a median of $400,000 for a house) flush on the 10km line.

For being close to the hubbub of a CBD, apartments over houses are the most fiscal option, Domain’s research team found, in the biggest capitals of Sydney and Melbourne.

In Sydney, a buyer will need $1.35 million for a house in Campsie, which has the lowest median house price and is bang on the lip of the 10km ring.

Melbourne’s Maidstone, at a median of $829,000, is the most affordable option for a house, and sits right on the 10km boundary.

However, in the smaller capitals, buyers can take a pick between an apartment and a standalone house, with smaller gaps between pricing. It is most starkly noted in Darwin, where some apartments within the distance criteria are more expensive than houses.

Domain’s chief of economics and research Dr Nicola Powell said rising interest rates and inflation have nudged city-edge living out of reach for many Aussies.

“However, there are still some affordable options for buyers close to the city, especially if buyers are willing to be flexible on their inner-city location and property type,” Dr Powell said.

“It’s great to see our cities have started to come back to life after last year’s lockdowns. We expect this momentum to continue into next year as many workers opt to spend more days working from city offices.”

Domain property editor Alice Stolz said every buyer has a “must-have” list when choosing a suburb. However, some desirables are universal.

“Generally, close proximity to public transportation as well as key amenities like schools, cafes and shops and leafy green spaces should be at the top of property purchasers ‘wants and needs’ list,” she said.

Cheapest suburbs within 10km of each CBD, for houses and units

45 Fletcher Street, Campsie

SOLD - $1,475,000

45 Fletcher Street, Campsie NSW 2194

3

1

3

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36 Eucalyptus Drive, Maidstone

SOLD - $785,000

36 Eucalyptus Drive, Maidstone VIC 3012

4

3

2

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19 Elton Street, Hemmant

SOLD - $723,000

19 Elton Street, Hemmant QLD 4174

4

1

4

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8c Sitka Place, Cannington

Buyers Over $399,000

8c Sitka Place, Cannington WA 6107

2

1

1

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33 Findlay Street, Higgins

SOLD - $755,000

33 Findlay Street, Higgins ACT 2615

3

1

1

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12 Dongara Court, Karama

SOLD - $412,500

12 Dongara Court, Karama NT 0812

4

1

2

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292 St Clair Avenue, St Clair

SOLD - $588,000

292 St Clair Avenue, St Clair SA 5011

3

2

1

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