20 affordable unit markets near CBDs this spring-selling season

First-home buyers and other home seekers with limited budgets who are on the lookout for suburbs near CBDs have several affordable and desirable options this spring-selling season.

New research from Well Money identified 20 suburbs where first-home buyers can purchase units with price tags of below $600,000.

These suburbs were ranked based on the number of years it would take someone with the average household income (based on Census data) in that suburb to buy a property outright valued at that suburb’s median sale price.

Well Money CEO Scott Spencer said as markets experience a slowdown after a two-year boom, it has become easier for many first-home buyers and young families to access suburbs that are affordable, desirable, and relatively close to capital city CBDs.

“Options are limited – but they do exist. That said, it’s still challenging, because prices are declining from a high base,” he said.

Mr Spencer said these unit markets, however, might not be for everyone.

“Unfortunately, if you want to buy a house in a desirable location, you need to extend your budget beyond $750,000,” he said.

Here are the 20 most affordable and desirable unit markets near CBDs:

State	Suburb	Median Sale Price	Years of income to buy
ACT	Macquarie	$300,000	3.0 years
WA	City Beach	$579,000	3.0 years
WA	Aubin Grove	$415,000	3.2 years
QLD	Wavell Heights	$440,000	3.2 years
QLD	Camp Hill	$520,000	3.2 years
SA	Mawson Lakes	$333,000	3.3 years
QLD	Wakerley	$517,500	3.4 years
QLD	Ashgrove	$507,000	3.4 years
SA	Plympton	$285,000	3.4 years
QLD	Alderley	$415,000	3.4 years
WA	Canning Vale	$410,000	3.5 years
QLD	Bridgeman Downs	$530,000	3.5 years
QLD	Norman Park	$535,000	3.6 years
SA	Parkside	$380,000	3.6 years
NT	Marrara	$370,000	3.6 years
QLD	Paddington	$529,999	3.7 years
QLD	Parkinson	$420,000	3.7 years
SA	Wayville	$393,000	3.7 years
SA	Prospect	$388,000	3.7 years
SA	Brooklyn Park	$287,000	3.8 years

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