A new report from PRD Real Estate showed where buyers can find markets that are not just affordable but also liveable based on several standards.
The report, which focused on suburbs within 20-kilometre radius of the CBDs, took into consideration several factors that determine the market’s liveability, including crime rates, availability of amenities, and unemployment rates.
For houses, Perth is considered the most affordable capital city for liveability due to the softer nature of its property market and the high level of “readiness” of its suburbs.
According to the report, buyers in a highly liveable suburb need to add just 5.0% to the Western Australian state average loan.
On the other hand, Gold Coast is the most expensive city for liveability, with buyers needing to add 48% to the Queensland state average loan.
Over the unit markets, Adelaide was the most affordable city for liveability.
In fact, buyers can get a discount of 35% when accessing units in a liveable suburb, instead of needing to 4% on top of the South Australian state average loan for a unit in Adelaide CBD.
Meanwhile, Hobart is the most expensive city for liveability, as buyers must add 5% on top of the Tasmania state average loan. This is due to an absence of future projects in lower priced suburbs.
Across the eastern seaboard, Melbourne is the most affordable housing market for liveability. Highly liveable suburbs in Melbourne only require buyers to add just 13% to the Victorian state average loan.
For units, Brisbane is the most affordable for liveability, providing discounts of up to 24%.
The tables below show the top suburbs which achieved the highest affordability and liveability scores in each major cities:
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