Top 10 most affordable yet desirable NSW suburbs close to the city
New research has revealed the top 10 most affordable yet desirable suburbs close to the Sydney and Canberra CBDs.
The report commissioned by home loan provider Well Money shows buyers can pick up an apartment for less than $750,000 in eight Sydney localities where the socio-economic score is well above average.
There are a handful of Sydney suburbs deemed desirable and affordable.
Buyers can also grab a bargain in the apartment markets of Crestwood and Queanbeyan, about 16km out of Canberra.
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The neighbouring suburbs bordering the ACT topped the list of most affordable markets, with apartments there selling from $337,000 to $435,000 and equating to about 3.8 to 4.9 years of the average income earned in the area.
Mortdale came high on the list of affordable markets.
Arncliffe topped the Sydney ranking, with the median apartment sale price of $700,000 equating to about 6.6 years of the average income earned in the suburb.
Each of the top three suburbs had a socio-economic ranking of 8, meaning the suburb contained few households with low incomes, no qualifications or low-skill occupations.
8/22-24 Jersey Ave, Mortdale sold in August 2022 for $555,000.
Other Sydney suburbs to make the list included Mortdale, Northmead and Hornsby, where the median apartment sale price equated to 6.6-6.8 years of income earned.
South Wentworthville had the lowest median of $650,000.
4/86 Hunter St, Hornsby sold in August 2022 for $595,000.
Well Money CEO Scott Spencer said affordable options did exist for first home buyers and those with average incomes.
“Now that property prices are falling in many parts of New South Wales, it’s become easier
for first home buyers and young families to afford properties that are affordable, desirable
and relatively close to the Sydney or Canberra city centre.” he said.
Well Money CEO Scott Spencer.
“That said, all the suburbs in the top 10 ranking are unit markets. Apartments can be great
places to live, but they don’t suit everyone. Unfortunately, if you want to buy a house in a
desirable location, you need to extend your budget beyond $750,000.”
No NSW suburbs made it into the national top 20 ranking of affordable markets commissioned by Well Money.
11/2 Booth St, Queanbeyan sold in August 2022 for $350,000.
Top 10 ranking
| Rank | Suburb | Postcode | Type | Median Sale Price | Years of income to buy |
| 1 | Crestwood | 2620 | Unit | $337,000 | 3.8 |
| 2 | Queanbeyan | 2620 | Unit | $435,000 | 4.9 |
| 3 | Arncliffe | 2205 | Unit | $700,000 | 6.6 |
| 4 | Mortdale | 2223 | Unit | $688,000 | 6.6 |
| 5 | Northmead | 2152 | Unit | $680,000 | 6.8 |
| 6 | Hornsby | 2077 | Unit | $699,000 | 6.9 |
| 7 | South Wentworthville | 2145 | Unit | $650,000 | 7 |
| 8 | Carlton | 2218 | Unit | $685,000 | 7.1 |
| 9 | Sutherland | 2232 | Unit | $720,000 | 7.1 |
| 10 | Lidcombe | 2141 | Unit | $700,000 | 7.1 |
Source: Well Money Top 10 Affordable Housing Markets report.
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