‘Bridesmaid’ suburbs where houses cost half as much

PHOTO: Jarrard and Ruth Scott are selling their unit in Brookvale, a cheaper alternative to nearby suburbs. Picture: Tim HunterSource:News Corp Australia

Cheaper city pockets known as ‘bridesmaid’ suburbs have emerged where homebuyers and renters can snap up properties for half as much as those in the trendy postcodes next door.

Sydney buyers priced out of their dream suburbs can save hundreds of thousands of dollars — even millions — by purchasing just one postcode over.

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“Bridesmaid” suburbs emerged in recent years due to uneven growth in the housing market, with average prices in some suburbs up to $1.5m lower than in ”bride” suburbs, research shows.

Other areas have simply flown under the radar of buyers and tenants for an extended time and the lower demand has kept prices and rents well below those in more trendy locations nearby.

Apartment hunters who have their sights set on Concord can save more than $561,000 by looking one suburb over to Homebush West.

And buyers looking to set up home in Cronulla could purchase a house in nearby Caringbah for up to $935,000 less.