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The cheapest suburbs to buy within 10km of Sydney CBD

Writer's picture: Renae TreakRenae Treak

Navigating Sydney's vibrant real estate scene can feel like a daunting task, especially given the steep costs involved. While the rental market in Sydney is stabilising, the overall expense of living in this bustling city remains a significant challenge, particularly for those aspiring to own a home. Recent insights from Domain reveal that both house and unit prices have soared to unprecedented heights, with the median house price now standing at a staggering $1,595,310.


But fear not, for amidst this seemingly daunting scenario, there shines a beacon of hope! Despite Sydney's reputation as Australia's most expensive city to purchase a home, Domain also illuminates some more budget-friendly suburbs that still offer the convenience of proximity to the CBD.


Take, for instance, Tempe, proudly claiming the title of the most affordable suburb within 10km of Sydney's CBD, with a median house price hovering around $1.55 million last year, just shy of the city's record median. Arncliffe closely follows with an approximate median house price of $1,576,000, trailed by St Peters at $1.6 million, and Botany at $1,625,000.


And for those considering the comfort and convenience of apartment living, there's even more good news. In Eastlakes, Canterbury, Hillsdale, Rushcutters Bay, and Arncliffe, median unit prices fall below the citywide median, providing an enticing entry point into inner-city living. Take, for example, Canterbury, with a median unit price of $669,000, significantly lower than Sydney's overall unit median of $796,000.


Sydney is once again capturing attention, drawing in new arrivals in pursuit of the excitement and opportunities that urban life has to offer. The lively rental market is also likely expediting the decision-making process for some first-time homebuyers, fostering an atmosphere ripe with anticipation and opportunity.




Source: Domain House Price Report, December quarter 2023.


However, as Sydney's property market evolves, it becomes crucial to identify areas that promise promising returns. So, while these suburbs offer affordability, it begs the question: are they sound investment choices?


Consider these key factors when evaluating investment potential:


  • Does the suburb exceed the Australian median household income?

  • Is there a balanced demand and supply ratio?

  • Does the suburb boast a Walk Score of 70+ and a population exceeding 6,500?

In the recent feature on Domain.com.au, Sam Abbas of Stone Real Estate in Rockdale highlighted 'In suburbs like Arncliffe, 9.7 kilometres from the CBD, there has been increasing interest from buyers priced out of the inner west, eastern suburbs and even north shore. “There are a lot of buyers surprisingly coming from other areas in the last 18 to 24 months,” Abbas said. “[Mostly] young families and couples that see they can get more bang for their buck … but still get proximity to the city and all the amenities.”


James and Ann Keating, clients of Sam Abbas, shared their journey in the Domain article, emphasising location as a primary factor in selecting Arncliffe for their retirement. "We wanted to downsize and move closer to the city," Mrs. Keating explained. After exploring various options, they stumbled upon a three-bedroom penthouse apartment with breathtaking views. Now, with fewer travel plans, they're selling their apartment in Arncliffe but hope to stay in the area due to its convenience and proximity to essential amenities.


At Treak we understand the challenges of navigating the property market – it’s all we do! If you’re looking to secure your dream property in 2024, we’re ready to help.

 

Give us a call on 0433 156 465 or contact us here to hear how!



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Renae Treak 0433 156 465 

Treak Real Estate acknowledges the Traditional Custodians of the lands on which we work throughout Australia and pay our respect to Elders past, present and emerging.

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