- As the coronavirus pandemic wages on, Australian taste for property may be changing as many continue to work from home.
- Comparing prices along with a suburbs makeup, Finder has revealed what it believes are the top 10 suburbs in Australia to buy in.
- Victoria, the state currently fighting a second spike in infections, did not claim a top 10 spot.
- Visit Business Insider Australia’s homepage for more stories.
As national property prices slide during the global pandemic, there’s a golden opportunity for Australians to find their next home.
Of course, falling prices aren’t the only thing would-be homebuyers are looking for. Depending on their life stage, there are a whole group of non-negotiables and preferences that go into their decision.
In finding the top 10 suburbs to buy, Finder analysis supplied exclusively to Business Insider Australia considers a wide-range of factors, from crime rates and total costs to the percentage of owner-occupiers and the prevalence of families.
While capital city prices are softening, there’s also never been a better time to look further afield.
“Lockdown proved to many businesses that remote working is a possibility so we could see more city dwellers looking for a sea change,” Finder insights manager Graham Cooke said. “Regional cities offer young Aussies a more relaxed way of life – which is perfect for those looking to raise a family.”
The top ten suburbs in Australia to buy
New South Wales’ top area, for example, is Wollongong suburb Cordeaux Heights, where the average property price is less than $720,000.
“[It] is a great suburb if you’re after some peace and quiet and it’s only just 6km from the beach,” Cooke said. “It may not be as popular as some of the suburbs north of Wollongong, but it is more affordable and has a lower crime rate.”
On the other side of Sydney, Lake Macquarie suburb Eleebana comes in with an average price tag of $755,000. In fact, most suburbs on the list come in the $750,000 and $780,000 range – a veritable steal for any Sydneysider.
That’s not to say capital cities are out altogether. Perth residents could opt for the almost coastal suburb of Carine, head south to Lemming or make a treechange east to Gooseberry Hill.
Likewise, Brisbane has two spots of its own on the list. Twenty minutes downstream from the CBD is Westlake while Bridgeman Downs is a stone’s throw to the city’s north.
Fadden in the Australian Capital Territory (ACT) and Aldgate in Adelaide meanwhile both get a run, and for change from $800K.
In fact, the only other regional suburb to round out the top ten is Cotswold Hills, in Toowoomba Queensland. A 90-minute drive from Brisbane, properties cost a modest $530,000 on average.
Victoria didn’t have an entry in the top ten but has plenty of potential
The education state, fighting a second spike in COVID-19 cases, didn’t land a single entry in the nation’s top ten suburbs to buy. That doesn’t mean there’s nothing to see, however.
For those Victorians on the house hunt, Finder ranked the top ten within 30kms of Melbourne and for under $800,000 for Business Insider Australia.
In the city’s north, Thomastown, Lalor, Watsonia North, Greenvale, and Gladstone Park all rank favourably. Further west, Finder gives its blessing to Kings Park, Keilor Downs, Albanvale, Keilor Park and nearby Kealba.
With other states closing their borders to Victoria, however, it’d be a hell of a time to move south.
Business Insider Emails & Alerts
Site highlights each day to your inbox.