The 10 best affordable suburbs in Sydney 2023
Find out which suburbs in Sydney made the top 10 list in Bright Stars: Canstar’s Best Affordable Suburbs Report powered by Hotspotting.
There are plenty of great locations in Sydney where you can buy a home for less than $$958,630. This was the cut-off price we used for our ‘Bright Star’ suburbs in the New South Wales capital. (For more on why we chose this see our full report.)
Of course, price isn’t the only consideration when selecting a location to buy property. Lifestyle benefits and prospects for growth should also be on the checklist. In Canstar’s Best Affordable Suburbs Report we used five key metrics – sales volumes, price growth, vacancy rates, infrastructure and proximity to work and amenities – to identify the affordable suburbs that are desirable and likely to grow in value over time. Check out our list below.
The 10 best affordable suburbs in Sydney
- Bradbury
- Burwood (Units)
- Gymea (Units)
- Lurnea
- Mascot (Units)
- Minto
- Mount Druitt
- Rooty Hill
- Rosemeadow
- Stanmore (Units)
Bradbury
Sales activity and prices have risen in this suburb of the Campbelltown LGA at a time when the Greater Sydney market generally has been weak. Bradbury offers not only affordability but proximity to many amenities, being next to central Campbelltown. Campbelltown Hospital, train stations, multiple shopping centres and numerous schools are included in the mix. The vacancy rate is 1.0% and rents rose 13% in the past year.
Burwood (Units)
The attributes of Burwood include transport links (train and motorway), multiple shopping centres, schools and a TAFE campus. The median price for houses is $2,560,000 but for units it’s $900,000, with median price growth for both houses and units in the past 12 months, at a time when that’s been hard to find in Sydney. Neighbouring Strathfield is a more affordable alternative (median unit price $680,000).
Gymea (Units)
Houses are expensive (median price $1,600,000) in this suburb of Sutherland Shire, but units are half the price. Units out-sell houses two to one in this location. The vacancy rate is 0.6% and rents have climbed in the past two to three years. Gymea’s offering includes train stations, Westfield, Sutherland Hospital and ready access to Gymea Bay.
Lurnea
Liverpool has one of the key suburban CBDs of Greater Sydney, with major education, medical, retail and transport infrastructure. Lurnea is an immediate neighbour with relatively affordable houses and a number of schools. Its location near the intersection of the M7 and M5 motorways will be increasingly important as the new airport and Aerotropolis evolves. The median price rose almost 6% in 2022 when Sydney prices generally declined.
Mascot (Units)
Proximity is the key driver, including Sydney Airport, South Sydney Corporate Park, four golf courses, the University of NSW Kensington Campus and a number of schools. Mascot is dominated by units. Annually, there have been 76 house sales and 288 unit sales – with growth in the median unit price in the past 12 months, albeit modest. The vacancy rate is 1.4% and rents are strong.
Minto
In Greater Sydney, $850,000 is towards the lower end of house prices and this is the kind of location you need to head to for anything that “cheap”. The suburb of Minto in the City of Campbelltown is notable for a commercial-industrial jobs zone plus numerous schools and major parks. It has grown its median house price by 13.7% annually at a time when Sydney prices have declined. The vacancy rate is 0.6%.
Mount Druitt
This western Sydney suburb offers plenty of amenities and infrastructure: the Blacktown Mt Druitt Hospital, a major TAFE campus, the Westfield Mt Druitt Shopping Centre and rail links. Typical houses cost over $900,000 (after 14% annual growth) and units are popular – over 200 annual sales at a median price of $425,000. The vacancy rate is 0.8% and rents have risen 12% in the past year.
Rooty Hill
This Blacktown suburb doesn’t have the most appealing name or reputation but it has many positive qualities, including transport links (near the intersection of two motorways, plus rail links), proximity to massive commercial-industrial employment zones and vast areas of green space including Western Sydney Parklands. The median house price has grown 6.3% in the past year, a time when few Greater Sydney locations have grown.
Rosemeadow
This suburb in the far south-west of Greater Sydney has generally defied the broader downturn, with good sales activity and rising prices in the past 12 months. And it has something hard to find anywhere in Greater Sydney – houses in the $700,000s. It also has numerous schools and lots of parkland. The vacancy rate of 0.8% and 12% annual rental growth confirm that market demand is strong here.
Stanmore (Units)
This is a rare location in the current climate – an inner-city Sydney suburb where the unit market has performed well, with the median price rising by 12.2% in the past 12 months, and a positive long-term capital growth rate. Houses are expensive (median price $2,090,000) but apartments are more attainable ($820,000). Stanmore has Newington College, a train station and vacancies under 1%, with rents surging.
The best affordable suburbs in Sydney
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Suburb | Median price | 10% Deposit | |||
---|---|---|---|---|---|
Initial outlay* | Monthly repayment+ | Repayments as a percentage of dual income^ |
|||
With FHB concession | No FHB concession | ||||
Bradbury | $765,000 | $93,746 | $125,121 | $3,996 | 29.50% |
Burwood (U) | $900,000 | $130,280 | $148,013 | $4,701 | 34.80% |
Gymea (U) | $820,000 | $104,474 | $134,447 | $4,283 | 31.70% |
Lurnea | $885,000 | $125,441 | $145,470 | $4,623 | 34.20% |
Mascot (U) | $850,000 | $114,151 | $139,535 | $4,440 | 32.80% |
Minto | $855,000 | $115,764 | $140,383 | $4,466 | 33.00% |
Mount Druitt | $915,000 | $135,119 | $150,557 | $4,780 | 35.30% |
Rooty Hill | $850,000 | $114,151 | $139,535 | $4,440 | 32.80% |
Rosemeadow | $775,000 | $94,967 | $126,817 | $4,048 | 29.90% |
Stanmore (U) | $820,000 | $104,474 | $134,447 | $4,283 | 31.70% |
Sources: Median price: CoreLogic as at February 2023. Initial outlay and repayment data: canstar.com.au prepared on 26 June 2023. (U) stands for units. *Initial outlay figures include the deposit, stamp duty, mortgage registration and transfer fees; and lenders’ mortgage insurance (LMI) premium. Stamp duty calculated based on an owner occupier purchase of an established dwelling. LMI premium based on Helia LMI Premium Calculator for an owner occupier borrower and a loan term of 30 years. +Monthly repayments calculated based on the average variable interest rates of 5.7% and a loan term of 30 years. Interest rates based on the average owner occupier, principal and interest variable rate for a loan of $500,000 over the past year, rounded to the nearest 0.1%. ^Percentage of income based on the average total income by Greater Capital City Statistical Area (ABS Personal Income, 2019-20), adjusted by the ABS Wage Price Index (Dec-2022) for each state. A dual income assumes two people with the average income. For estimates on initial outlay, monthly repayments and repayments as a percentage of income based on a 20% deposit see full report.
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