20 affordable unit markets near CBDs this spring-selling season

First-home buyers and other home seekers with limited budgets who are on the lookout for suburbs near CBDs have several affordable and desirable options this spring-selling season.

New research from Well Money identified 20 suburbs where first-home buyers can purchase units with price tags of below $600,000.

These suburbs were ranked based on the number of years it would take someone with the average household income (based on Census data) in that suburb to buy a property outright valued at that suburb’s median sale price.

Well Money CEO Scott Spencer said as markets experience a slowdown after a two-year boom, it has become easier for many first-home buyers and young families to access suburbs that are affordable, desirable, and relatively close to capital city CBDs.

“Options are limited – but they do exist. That said, it’s still challenging, because prices are declining from a high base,” he said.

Mr Spencer said these unit markets, however, might not be for everyone.

“Unfortunately, if you want to buy a house in a desirable location, you need to extend your budget beyond $750,000,” he said.

Here are the 20 most affordable and desirable unit markets near CBDs:

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