Most affordable suburbs to buy within 10km and 20km of each capital city

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WANT to get on the property ladder but don’t want to move away from the CBD?

A joint study by Aussie Home Loans and CoreLogic has revealed the most affordable suburbs within 10km and 20km from each capital city.

The cheapest suburb closest to a city centre nationally is Clarendon Vale, a suburb located about 10km east of Hobart.

With a median house price of $153,531, homes in Clarendon Vale are more than $180,000 cheaper than Hobarts median house price and almost four times less than the combined Australian capital city median house price of $610,000.

In fact, homes in Tasmania are the most affordable nationally. The three most affordable suburbs in all of Australia have a median valuation of less than $100,000 and all are located along Tasmanias west coast. These are Zeehan ($87,662), Queenstown ($90,200) and Rosebery ($91,310).

At the other end of the spectrum, New South Wales homebuyers shouldnt get too excited. The cheapest suburb within 10km of Sydney CBD is almost double the combined capital city median house price. Tempe, about 9km south of Sydney CBD, may have been named the most affordable inner city suburb, but it still has a median price tag of $1,151,122.

However, if you widen the parameters by another 10km, it becomes more realistic. Granville, in western Sydney, is the most affordable suburb within 20km of Sydneys CBD, with a median house price of $766,910.

Sydneys median house price as a capital city, according to CoreLogic, is $845,000.

In Victoria, Braybrook is the cheapest suburb within 10km of Melbourne. Located about 9km west of Melbourne CBD, it has a median house price of $613,399. But if you move to Coolaroo, about 19km north of Melbourne, you could snap up a home for almost half that, at $338,598.

If you want to live as close to the CBD as possible, but dont want to move across the Bass Strait to Tasmania, South Australia is your best bet.

Pennington, located about 10km north of Adelaide, is the second cheapest suburb closest to a city centre nationally.

With a median house price of $366,565, this is more than $50,000 cheaper than Adelaides median house price of $420,000 and more than $240,000 cheaper than the combined capital city median house price of $610,000. Adelaide is the most affordable mainland capital city in Australia.

But Queensland wouldnt be a bad option either, with Rocklea, a suburb 9km south of Brisbane, recording a median house price of $390,173 the third most affordable location within 10km of a capital city.