It’s no secret that buyer demand is high, supply is limited, and all the readily available amenities are driving up home prices.Inner cities are becoming highly sought after locations to live in also largely due to job opportunities and better schools says Chifley Securities

As a result demand for housing in these areas is typically much higher resulting in higher prices. This article will look into where suburbs are the most affordable and homes that are located within a 10km radius of the CBD.

Turrella is the most affordable suburb listed in Sydney with a median house value of $839,676 which is significantly higher than the most expensive median value listed across all other capital cities. It is a similar story for Sydney units although the gap isn’t as large compared to the other capital cities as it is for houses.

In the more expensive cities Sydney, Melbourne, Darwin and Canberra it has become increasingly difficult over recent years to secure houses close to the city at relatively affordable prices. This is a trend that is anticipated to continue over the coming years given that buyers are willing to pay a premium for the lifestyle benefits associated with living closer to the city centre.

Chifley Securities has looked at the data and here are the top 5 affordable inner city suburbs for homes:

Sydney houses

• Turrella: $839, 676
• Sydenham: $845,771
• St Peters: $920, 169
• Tempe: $921, 390
• Waterloo: $936, 540

Melbourne houses

• Bellfield: $582, 573
• Maidstone: $588, 514
• Footscray: $618, 235
• West Footscray: $631, 460
• Preston: $675, 973

Brisbane houses

• Rocklea: $353, 030
• Keperra: $439, 015
• Tingalpa: $478, 686
• Salisbury: $485, 470
• Nathan: $487, 265

Adelaide houses

• Dry Creek: $244, 847
• Gepps Cross: $333, 113
• Kilburn: $352, 051
• Woodville Gardens: $353, 125
• Mansfield Park: $353, 994

Perth houses

• Osborne Park: $431, 036
• Westminster: $460, 403
• Nollamara: $462, 355
• Glendalough: $466, 904
• Tuart Hill: $481, 045