Brisbane’s Algester was the standout suburb for both houses and units with the lowest entry price and highest rental yield.
PRD highlighted Algester for having the best of both affordability and liveability given its low entry prices and proximity to supermarkets, parkland, public schools, a medical centre and the motorway.
Sydney’s median house prices experienced a gentle growth of 0.8 per cent, while units softened by -2.4 per cent from 2016 to the first quarter 2018.
In Milperra, south-west of Sydney’s CBD, homeowners benefit from nearby shopping centres, schools, golf courses, the Western Sydney University and public transport.
Sydney’s unit market is benefiting from increased unit supply with suburbs such as Dee Why becoming highly active, recording 630 sales over the last 15 months and a solid price growth of 10.3 per cent.
In Melbourne, the median house price experienced a 1.3 per cent growth and median unit prices grew by 7.9 per cent from 2016 to the first quarter 2018.
Northwestern suburbs Westmeadows, Tullamarine and Gladstone Park were standouts as the city’s most liveable affordable areas for houses.
Westmeadows, Pascoe Vale, and St Kilda East lead in unit affordability and liveability, with low vacancy rates, proximity to transport arterials and public transport access the primary drivers.
“It is no longer realistic to simply report on affordable suburbs, but to include those that have high ‘liveable’ factors,” the report stated.
“Liveability is gaining traction among home buyers and does attract a cost.”
“This latest release provides insights into the cost of liveability and how much home buyers need to be prepared to pay to have this requirement met in their purchase.”