{"id":38572,"date":"2022-05-12T19:45:09","date_gmt":"2022-05-12T07:45:09","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=38572"},"modified":"2022-05-12T19:45:09","modified_gmt":"2022-05-12T07:45:09","slug":"107-suburbs-first-homebuyers-can-afford","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/107-suburbs-first-homebuyers-can-afford\/","title":{"rendered":"107 suburbs first homebuyers can afford"},"content":{"rendered":"

PHOTO: Effie Zahos said first homebuyers should focus on getting into the market rather than buying their dream home. Picture: Tim Hunter<\/strong><\/p>\n

The time it takes to save up for a deposit is considered one of the biggest barriers to buying property, but new research gives a glimmer of hope.<\/p>\n

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First homebuyers can choose from 107 suburbs across Australia where they could become owners without having to save up for a decade for a deposit, new research has shown.<\/p>\n<\/div>\n

Instead, the suburbs identified across every state and territory means buyers could be in their own home after just two-and-a-half years of putting money away, with room in the budget to also account for\u00a0rising interest rates\u00a0and higher loan repayments.<\/p>\n

Regional Western Australia was the most affordable place for first homebuyers with the quickest 10 per cent deposit-saving time frame of one year and four months for a dual income couple and two years and nine months for a single, found\u00a0The Bright Starters<\/a><\/i>\u00a0report from Canstar and independent buyer\u2019s agency Hotspotting.<\/p>\n

It also showed that mortgage repayments as a percentage of after-tax income are also relatively low at 9.8 per cent and 19.7 per cent respectively.<\/p>\n

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Houses in Western Australia are some of Australia\u2019s most affordable. Picture: iStock<\/strong><\/em><\/div>\n

The top four suburbs in regional WA were the seaside lifestyle area of Carey Park and Withers in Bunbury, as well as Dudley Park, and Mandurah where house prices are lower than units.<\/p>\n

Unsurprisingly, the report found Sydney was the least affordable jurisdiction.<\/p>\n

It had the longest 10 per cent deposit saving time frame of five years and two months for a double income couple, and over a decade for a single buyer.<\/p>\n

Meanwhile, repayments as a proportion of after-tax income are much tighter at 26.9 per cent and 53.9 per cent respectively.<\/p>\n

Affordable suburbs in Sydney identified in the report included Bradbury, Liverpool, Mount Druitt and St Mary\u2019s in the southwest as well Doonside in western Sydney and Hillsdale near the beachside area of Maroubra.<\/p>\n

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\"Sydney<\/div>\n

Sydney houses were some of the country\u2019s least affordable. Picture: NCA NewsWire\/Gaye Gerard<\/strong><\/em><\/div>\n

Canstar editor-at-large Effie Zahos said the suburbs identified in the report were about first homebuyers getting a start in the market rather than finding their dream home.<\/p>\n

\u201cSaving for a deposit on a median-priced home can be disheartening for first-time buyers, especially when they realise it may take them close to a decade to achieve their goal,\u201d she said.<\/p>\n

\u201cInstead, they buy at the affordable end of the market, partner-up, and put down a 10 per cent deposit on an entry-level home with the view of working their way up from there.\u201d<\/p>\n

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Affordable places to buy<\/b><\/span><\/p>\n

The second most affordable place in Australia was regional South Australia with the likes of Berri which is located on the Murray River, the seaside town of Port Augusta, alongside one of the biggest regional centres with Whyalla Norrie and Whyalla Stuart on the list.<\/p>\n

Perth came in third for most affordable with suburbs such as Armadale in the southeast, Butler in the north, Gosnells near Canning River, as well as Medina, Midland and Parmella which is described as a \u201csuburb of cul-de-sacs\u201d.<\/p>\n

Regional Queensland was still considered affordable despite the huge spike in migration to the area, taking out the fourth spot across Australia.<\/p>\n

Notable suburbs included Bundaberg East, Kin Kora in Gladstone, Frenchville in Rockhampton, Kirwan in Townsville and Maryborough, which is close to the Fraser Coast.<\/p>\n

Rounding out the top five was regional Tasmania including George Town in the northeast, the seaside town of Somerset, Upper Burnie and Waverley.<\/p>\n

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Regional markets offer Aussie dream<\/b><\/span><\/p>\n

Hotspotting property expert Terry Ryder said if you\u2019re smart about where you buy, you could hold the keys to your first home in less time than you think.<\/p>\n

\u201cIt\u2019s not just about affordability for first homebuyers \u2013 they also want desirability and the knowledge that their home will grow in value over time,\u201d he said.<\/p>\n

\u201cThis report also highlights 107 suburbs around the country that offer the full package \u2013 affordable dwellings, amenities and lifestyle and prospects for growth.\u201d<\/p>\n

He added first homebuyers should keep a close eye on regional markets, which make up four of the top five affordable jurisdictions.<\/p>\n

\u201cAs we\u2019ve seen from the recent exodus to affordable lifestyle trend, regional areas are growing in popularity as they are typically more affordable than capital cities, but can also offer additional lifestyle benefits like proximity to beaches or nature,\u201d he said.<\/p>\n

\u201cThe era of remote working means young buyers no longer need to be shackled to major metropolitan areas for work, and can reap the benefits of both worlds.\u201d<\/p>\n

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\"Brisbane<\/div>\n

Brisbane was the second most affordable capital city in Australia. Picture: NCA NewsWire \/ John Gass<\/strong><\/em><\/div>\n

Regional Victoria with suburbs such as Bairnsdale in East Gippsland, California Gully near Bendigo, Churchill and Long Gully as well as regional NSW in areas including Armidale, Lavington in Albury and Moree also landed in the top 10 most affordable.<\/p>\n

Brisbane was the second most affordable capital city in Australia followed by Darwin and Adelaide.<\/p>\n

The Sunshine State\u2019s key suburbs included Annerley in Brisbane, Bundamba in Ipswich, Caboolture and Eden\u2019s Landing which is halfway between Brisbane and the Gold Coast.<\/p>\n

Melbourne was also ranked poorly as the second-last most affordable place across the country, although there were pockets of hope including Broadmeadows, Dallas and Epping in the north, Caroline Springs and Cranbourne near the botanic gardens.<\/p>\n

The 107 suburbs and their median price>>><\/b><\/span><\/p>\n

1. Regional Western Australia<\/b><\/p>\n

Carey Park \u2013 $260,000<\/p>\n

Dudley Park (units) \u2013 $235,000<\/p>\n

Mandurah \u2013 $290,000<\/p>\n

Withers \u2013 $240,000<\/p>\n

 <\/p>\n

2. Regional South Australia<\/b><\/p>\n

Berri \u2013 $230,000<\/p>\n

Port Augusta \u2013 $160,000<\/p>\n

Whyalla Norrie \u2013 $160,000<\/p>\n

Whyalla Stuart \u2013 $145,000<\/p>\n

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3. Perth<\/b><\/p>\n

Armadale \u2013 $275,000<\/p>\n

Butler \u2013 $390,000<\/p>\n

Gosnells \u2013 $325,000<\/p>\n

Kelmscott \u2013 $350,000<\/p>\n

Medina \u2013 $275,000<\/p>\n

Midland \u2013 $310,000<\/p>\n

Parmelia \u2013 $295,000<\/p>\n

Port Kennedy \u2013 $395,000<\/p>\n

Rockingham \u2013 $420,000<\/p>\n

Westminster \u2013 $380,000<\/p>\n

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4. Regional Queensland<\/b><\/p>\n

Bundaberg East \u2013 $320,000<\/p>\n

Frenchville \u2013 $335,000<\/p>\n

Kin Kora \u2013 $340,000<\/p>\n

Kirwan \u2013 $335,000<\/p>\n

Maryborough \u2013 $270,000<\/p>\n

Nambour (units) \u2013 $345,000<\/p>\n

Nerang (units) \u2013 $360,000<\/p>\n

Newtown \u2013 $350,000<\/p>\n

Sippy Downs (units) \u2013 $350,000<\/p>\n

Yeppoon (units) \u2013 $340,000<\/p>\n

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5. Regional Tasmania<\/b><\/p>\n

George Town \u2013 $290,000<\/p>\n

Somerset \u2013 $320,000<\/p>\n

Upper Burnie \u2013 $320,000<\/p>\n

Waverley \u2013 $285,000<\/p>\n

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6. Regional Victoria<\/b><\/p>\n

Bairnsdale \u2013 $340,000<\/p>\n

California Gully \u2013 $375,000<\/p>\n

Churchill \u2013 $275,000<\/p>\n

Long Gully \u2013 $365,000<\/p>\n

Maryborough \u2013 $330,000<\/p>\n

Mildura \u2013 $360,000<\/p>\n

Moe \u2013 $295,000<\/p>\n

Sebastopol (units) \u2013 $305,000<\/p>\n

Shepparton \u2013 $350,000<\/p>\n

Warrnambool (units) \u2013 $365,000<\/p>\n

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7. Regional NSW<\/b><\/p>\n

Armidale \u2013 $395,000<\/p>\n

Lavington \u2013 $355,000<\/p>\n

Moree \u2013 $290,000<\/p>\n

Muswellbrook \u2013 $345,000<\/p>\n

Orange (units) \u2013 $350,000<\/p>\n

Parkes \u2013 $335,000<\/p>\n

Queanbeyan (units) \u2013 $380,000<\/p>\n

Tolland \u2013 $290,000<\/p>\n

Tweed Heads West (units) \u2013 $385,000<\/p>\n

West Tamworth \u2013 $285,000<\/p>\n

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8. Brisbane<\/b><\/p>\n

Annerley (units) \u2013 $420,000<\/p>\n

Bundamba \u2013 $335,000<\/p>\n

Caboolture \u2013 $435,000<\/p>\n

Clayfield (units) \u2013 $400,000<\/p>\n

East Ipswich \u2013 $355,000<\/p>\n

Edens Landing \u2013 $445,000<\/p>\n

Goodna \u2013 $350,000<\/p>\n

Inala \u2013 $415,000<\/p>\n

Redcliffe (units) \u2013 $455,000<\/p>\n

Woodridge \u2013 $335,000<\/p>\n

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9. Darwin<\/b><\/p>\n

Bakewell \u2013 $475,000<\/p>\n

Gray \u2013 $380,000<\/p>\n

Karama \u2013 $425,000<\/p>\n

Larrakeyah (units) \u2013 $410,000<\/p>\n

Moulden \u2013 $365,000<\/p>\n

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10. Adelaide<\/b><\/p>\n

Brahma Lodge \u2013 $335,000<\/p>\n

Christies Beach \u2013 $420,000<\/p>\n

Elizabeth East \u2013 $260,000<\/p>\n

Huntfield Heights \u2013 $380,000<\/p>\n

Ingle Farm \u2013 $425,000<\/p>\n

Morphet Vale \u2013 $375,000<\/p>\n

Paralowie \u2013 $370,000<\/p>\n

Salisbury \u2013 $380,000<\/p>\n

Seaford Meadows \u2013 $435,000<\/p>\n

Taperoo \u2013 $390,000<\/p>\n

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11. Hobart<\/b><\/p>\n

Berriedale \u2013 $490,000<\/p>\n

Claremont \u2013 $505,000<\/p>\n

Primrose Sands \u2013 $395,000<\/p>\n

Risdon Vale \u2013 $390,000<\/p>\n

Rokeby \u2013 $480,000<\/p>\n

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12. Canberra<\/b><\/p>\n

Charnwood \u2013 $615,000<\/p>\n

Dickson (units) \u2013 $510,000<\/p>\n

Gungahlin (units) \u2013 $405,000<\/p>\n

Isabella Plains \u2013 $685,000<\/p>\n

Ngunnawal \u2013 $685,000<\/p>\n

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13. Melbourne<\/b><\/p>\n

Broadmeadows \u2013 $580,000<\/p>\n

Brunswick East (units) \u2013 $585,000<\/p>\n

Caroline Springs \u2013 $680,000<\/p>\n

Cheltenham (units) \u2013 $675,000<\/p>\n

Cranbourne \u2013 $590,000<\/p>\n

Dallas \u2013 $505,000<\/p>\n

Epping \u2013 $630,000<\/p>\n

Narre Warren \u2013 $670,000<\/p>\n

Preston (units) \u2013 $630,000<\/p>\n

St Albans \u2013 $660,000<\/p>\n

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14. Sydney<\/b><\/p>\n

Bradbury \u2013 $650,000<\/p>\n

Doonside \u2013 $740,000<\/p>\n

Hillsdale (units) \u2013 $680,000<\/p>\n

Kingswood \u2013 $770,000<\/p>\n

Leumeah \u2013 $685,000<\/p>\n

Liverpool (units) \u2013 $470,000<\/p>\n

Lurnea \u2013 $800,000<\/p>\n

Mt Druitt \u2013 $770,000<\/p>\n

St Marys \u2013 $760,000<\/p>\n

Sutherland (units) \u2013 $685,000<\/p>\n

READ MORE VIA NEWS.COM.AU<\/a><\/p>\n

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