Despite rising home prices and declining housing affordability, there are many suburbs that are still drawing in buyers across the country.
A number of these suburbs offer homes priced below what is typically seen in their city.
Demand from buyers has been high in the past year due to a number of factors that include strong population growth, increased confidence in the market and scarce rental availability.
Not only is this reflected in rising home prices but it is also apparent when we look at the number of searches on realestate.com.au.
In the past 12 months to June 2024, search activity from potential buyers rose by 6% compared to the previous year. While this does not always translate to sales, it may indicate an increase in interest.
However, searches vary by suburb and with affordability now a key drawcard for buyers, we aimed to identify the most sought-out suburbs with affordable homes.
To do this, we looked into the suburbs with the highest search volumes in each capital over the past 12 months, focusing on those with median sale prices below their city's median.
| Rank | Suburb | Capital city | Property type | Capital city median sale price | Median sale price |
| 1 | Blacktown | Sydney | House | $1,407,000 | $980,000 |
| 2 | Campbelltown | Sydney | House | $1,407,000 | $855,000 |
| 3 | Oran Park | Sydney | House | $1,407,000 | $1,080,000 |
| 1 | Frankston | Melbourne | House | $870,000 | $740,000 |
| 2 | Sunbury | Melbourne | House | $870,000 | $660,000 |
| 3 | Craigieburn | Melbourne | House | $870,000 | $640,000 |
| 1 | Redcliffe | Brisbane | House | $840,000 | $770,000 |
| 2 | North Lakes | Brisbane | House | $840,000 | $809,000 |
| 3 | Narangba | Brisbane | House | $840,000 | $780,000 |
| 1 | Mawson Lakes | Adelaide | House | $751,000 | $725,000 |
| 2 | Modbury | Adelaide | House | $751,000 | $701,000 |
| 3 | Mount Barker | Adelaide | House | $751,000 | $661,500 |
| 1 | Baldivis | Perth | House | $680,000 | $611,000 |
| 2 | Rockingham | Perth | House | $680,000 | $610,000 |
| 3 | Morley | Perth | House | $680,000 | $676,000 |
| 1 | Geilston Bay | Hobart | House | $700,000 | $693,500 |
| 2 | Moonah | Hobart | House | $700,000 | $610,000 |
| 3 | Glenorchy | Hobart | House | $700,000 | $558,000 |
| 1 | Zuccoli | Darwin | House | $568,000 | $530,000 |
| 2 | Durack | Darwin | House | $568,000 | $550,000 |
| 3 | Wulagi | Darwin | House | $568,000 | $528,000 |
| 1 | Kambah | Canberra | House | $950,000 | $850,000 |
| 2 | Gungahlin | Canberra | House | $950,000 | $900,000 |
| 3 | Casey | Canberra | House | $950,000 | $815,000 |
In Sydney, Blacktown, Campbelltown and Oran Park saw the highest search activity among suburbs with house prices under $1.4 million. Houses cost almost 30% less in these suburbs which has likely contributed to their popularity among prospective buyers.
In Melbourne, Frankston, Sunbury and Craigieburn were the most sought-after suburbs with house prices below the city’s median of $870,000.
Redcliffe, North Lakes and Narangba in Brisbane, with respective medians of $740,000, $809,000, and $780,000 were the most searched suburbs over the past 12 months, all priced below the city’s median of $840,000.
Houses in Baldivis, Rockingham and Morley had the highest number of searches among all Perth suburbs with prices below the city's median of $680,000.
| Rank | Suburb | Capital city | Property type | Capital city median sale price | Median sale price |
| 1 | Blacktown | Sydney | Unit | $775,000 | $530,000 |
| 2 | Ryde | Sydney | Unit | $775,000 | $738,000 |
| 3 | Hornsby | Sydney | Unit | $775,000 | $708,000 |
| 1 | Melbourne | Melbourne | Unit | $605,000 | $560,000 |
| 2 | Richmond | Melbourne | Unit | $605,000 | $590,000 |
| 3 | Hawthorn | Melbourne | Unit | $605,000 | $584,000 |
| 1 | Nundah | Brisbane | Unit | $555,000 | $535,000 |
| 2 | Wilston | Brisbane | Unit | $555,000 | $550,000 |
| 3 | Kedron | Brisbane | Unit | $555,000 | $535,000 |
| 1 | Adelaide | Adelaide | Unit | $501,000 | $479,000 |
| 2 | West Beach | Adelaide | Unit | $501,000 | $495,000 |
| 3 | Mawson Lakes | Adelaide | Unit | $501,000 | $440,000 |
| 1 | Wembley | Perth | Unit | $450,000 | $330,000 |
| 2 | Mount Lawley | Perth | Unit | $450,000 | $430,000 |
| 3 | Yokine | Perth | Unit | $450,000 | $430,000 |
| 1 | New Town | Hobart | Unit | $531,000 | $455,000 |
| 2 | Glenorchy | Hobart | Unit | $531,000 | $440,000 |
| 3 | Sorell | Hobart | Unit | $531,000 | $507,000 |
| 1 | Darwin City | Darwin | Unit | $568,000 | $440,000 |
| 2 | Nightcliff | Darwin | Unit | $568,000 | $382,000 |
| 3 | Fannie Bay | Darwin | Unit | $568,000 | $502,000 |
| 1 | Braddon | Canberra | Unit | $605,000 | $582,000 |
| 2 | O'Connor | Canberra | Unit | $605,000 | $531,000 |
| 3 | Lyneham | Canberra | Unit | $605,000 | $520,000 |
For units, Blacktown, Ryde and Hornsby were the most sought-after suburbs with affordable prices. They had respective medians of $530,000, $738,000 and $708,000, which were below the city's median of $775,000.
In our second largest capital, Melbourne, Richmond and Hawthorn had the highest number of searches for suburbs with unit prices below the city's median.
The most searched Brisbane suburbs with prices below the city's unit median of $550,000 were Nundah, Wilston and Kedron. Units had medians of $535,000, $550,000 and $535,0000, respectively.
In Adelaide, West Beach and Mawson Lakes were the most frequently searched suburbs for units with prices below the city's median of $680,000.
Prices are expected to keep rising in the coming months due to strong demand. However, as housing affordability declines, buyers will likely continue gravitating towards more affordable areas.
