November 14, 2024 UFinancial

Investor and First-Home Buyer’s Guide to Australia’s Best Value Suburbs

Finding affordable, high-growth suburbs across Australia

As the property market heats up this spring, both investors and first-home buyers are zoning in on specific areas across Australia, aiming to secure affordable properties with high potential. Recent data released by PropTrack highlights the trending suburbs based on buyer inquiries, revealing where the action is centred.

Rising Interest from First-Home Buyers and Investors

First-home buyers have shown increased interest, with a 2% rise in new loan commitments, while investor loans have spiked by 30% in the last year according to the Australian Bureau of Statistics. This trend indicates growing buyer confidence as people aim to get the most value for their money in a fluctuating market.

Top Picks for First-Home Buyers

For house-seeking first-time buyers, affordable suburbs like Tarneit in Melbourne’s outer west stand out, offering a median house price of around $650,000, which is a fraction of the prices seen in Melbourne’s inner suburbs. Other popular Melbourne suburbs include Point Cook, Truganina, and Werribee, all offering suburban affordability. In Queensland, Greenbank is also seeing high demand, where outer-Brisbane homes provide value without sacrificing access to the city.

Most in-demand suburbs for first-home buyers looking for houses

Rank Median Sale Price Suburb Region
1 $650,000 Tarneit VIC 3029 Greater Melbourne
2 $837,450 Greenbank QLD 4124 Greater Brisbane
3 $750,500 Point Cook VIC 3030 Greater Melbourne
4 $985,000 Marsden Park NSW 2765 Greater Sydney
5 $645,000 Truganina VIC 3029 Greater Melbourne
6 $616,000 Werribee VIC 3030 Greater Melbourne
7 $785,000 Pimpama QLD 4209 Rest of Qld
8 $633,000 Redbank Plains QLD 4301 Greater Brisbane
9 $620,000 Hoppers Crossing VIC 3029 Greater Melbourne
10 $725,500 Clyde North VIC 3978 Greater Melbourne

Source: PopTrack

new south wales mortgage broker

Sydney’s high prices typically push first-home buyers toward units instead of houses, with Parramatta ranking highest among sought-after suburbs. Areas like Ryde, Campsie, and Epping are also popular, giving buyers access to urban convenience and vibrant communities within Greater Sydney.

Most in-demand suburbs for first-home buyers looking for units

Rank Median Sale Price Suburb Region
1 $625,000 Parramatta NSW 2150 Greater Sydney
2 $580,000 Melbourne VIC 3000 Greater Melbourne
3 $728,000 Ryde NSW 2112 Greater Sydney
4 $650,000 Campsie NSW 2194 Greater Sydney
5 $800,000 Epping NSW 2121 Greater Sydney
6 $485,000 Merrylands NSW 2160 Greater Sydney
7 $540,900 Granville NSW 2142 Greater Sydney
8 $869,000 Baulkham Hills NSW 2153 Greater Sydney
9 $603,000 Southbank VIC 3006 Greater Melbourne
10 $600,000 Schofields NSW 2762 Greater Sydney

Source: PopTrack

Where Investors Are Looking

Investors are also drawn to outer-city suburbs for houses, with Queensland’s Battery Hill and Melbourne’s Wollert and Craigieburn making the list for their attractive median prices under $1 million. 

Most in-demand suburbs for investors looking for houses

Rank Median Sale Price Suburb Region
1 $965,000 Battery Hill QLD 4551 Rest of Qld
2 $633,000 Redbank Plains QLD 4301 Greater Brisbane
3 $683,000 Wollert VIC 3750 Greater Melbourne
4 $640,000 Craigieburn VIC 3064 Greater Melbourne
5 $616,000 Werribee VIC 3030 Greater Melbourne
6 $785,000 Pimpama QLD 4209 Rest of Qld
7 $650,000 Tarneit VIC 3029 Greater Melbourne
8 $837,450 Greenbank QLD 4124 Greater Brisbane
9 $1,005,000 Blacktown NSW 2148 Greater Sydney
10 $750,500 Point Cook VIC 3030 Greater Melbourne

Source: PopTrack

For units, urban locations like Melbourne CBD and Surfers Paradise in Queensland have captured investor attention, aligning with their focus on high-traffic, rental-ready properties in the heart of the city.

Most in-demand suburbs for investors looking for units

Rank Median Sale Price Suburb Region
1 $580,000 Melbourne VIC 3000 Greater Melbourne
2 $720,000 Surfers Paradise QLD 4217 Rest of Qld
3 $596,000 Brisbane City QLD 4000 Greater Brisbane
4 $625,000 Parramatta NSW 2150 Greater Sydney
5 $603,000 Southbank VIC 3006 Greater Melbourne
6 $705,000 Wollongong NSW 2500 Rest of NSW
7 $502,500 Fortitude Valley QLD 4006 Greater Brisbane
8 $1,052,500 Sydney NSW 2000 Greater Sydney
9 $508,000 Adelaide SA 5000 Greater Adelaide
10 $410,000 Carlton VIC 3053 Greater Melbourne

Source: PopTrack

gold coast mortgage broker

Affordability remains a top priority for both investors and first-home buyers. Those searching for houses are often willing to explore areas further from the city where property prices are lower, while buyers interested in urban living and investors looking for convenient, low-maintenance rental options gravitate toward suburbs closer to the city centre.

This spring, the property market is clearly influenced by affordability and location preferences, shaping the activity levels of first-home buyers and investors across high-demand areas this season.

Ready to take the kickstart you journey to homeownership? Or possibly add to your investment portfolio? Contact UFinancial today for expert guidance. Visit UFinancial for more information or click here to get in contact with a team member today!!

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced, or republished without prior written consent. Content developed in partnership with IFPA.

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