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North to south: which suburbs are most affordable?

When it comes to states offering affordable housing within commuting reach of capital cities, Queensland and Tasmania stand out.

Research by national real estate chain PRDnationwide shows you can buy an established home for about $250,500 within 35km of the Brisbane’s central business district while in Tasmania you can pick up the equivalent for about $295,000, about 8km from Hobart’s CBD.

“I won’t be surprised if they become ‘satellite cities’ or self-contained communities in the very near future.”

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The cheapest suburbs in Queensland include Dinmore, Riverview, Ipswich, Morayfield, Burpengary and Beenleigh. Houses in these suburbs have a median price of $250,500 for a dwelling that offers three bedrooms and two bathrooms. Units in the same area, which offer two bedrooms and two bathrooms, have a median price of $195,000.

PRDnationwide research director Dr Asti Mardiasmo says these suburbs are proving to be the “most affordable’’ for those living in the Sunshine State.

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Brisbane is one of Australia’s most affordable cities for housing close to the CBD. Photo: AAP

“And with the level of transport connectivity that are established and being built to these areas I won’t be surprised if they become ‘satellite cities’ or self-contained communities in the very near future,’’ Dr Mardiasmo says. “One of the reasons why they are as affordable at the moment is due to their distance to CBD.’’

The cheapest suburbs in Hobart include Mount Nelson, Tolmans Hill, Dowsing Point, Glenorchy, Goodwood, Montrose, Rosetta, Lutana and Moonah.

“Their proximity to the CBD really does establish Tasmania and its main city Hobart as the most affordable place to live in Australia,’’ Dr Mardiasmo says.

Tony Collidge, principal of PRDnationwide Hobart, says: “One of the main reasons for this is that there is a more balanced market in Tasmania, with dwelling approvals increasing at roughly the same rate as total net migration. Hence Tasmania does not experience the frequent high and low fluctuations that the major mainland markets experience. We tend to be more ‘slow and steady’.’’

Dr Mardiasmo says “not surprisingly’’ Australia’s most expensive suburbs can be found in New South Wales (median price of $2 million for a three bedroom/two bathroom house) and Victoria (median price of $1.9 million for a three-bedroom, two-bathroom dwelling).

On average they are 3.5km from CBD in both states’ capital cities and include Kirribilli and Milsons Point in Sydney and Toorak, East Melbourne and the Melbourne CBD in Melbourne.

“The proximity, ease of access to city life, and the close nature of these suburbs to the central business district area is the main reason for their high dollar value,’’ Dr Mardiasmo says.

“Interestingly, the cheapest suburbs in New South Wales are on average 32km from the CBD, which distance-wise is on par with Queensland. That said, there is a 273 per cent difference between the median house prices.’’

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