Top 20 family suburbs named
New research commission has identified the top 20 family housing markets in Australia within reasonable reach of a CBD.
New research has identified the top 20 family housing markets in Australia.
The research commissioned by Well Money began by considering every suburb in Australia, before filtering out all those that weren’t ‘family suburbs’.
To establish a top 20 ranking, suburbs were then ranked based on change in inventory levels over the previous three months.
A family suburb is one that meets these key indicators:
- having a median house price between $200,000 and $1.5 million
- being no more than 200km from a capital city CBD
- owner-occupiers making up at least 70 per cent of the local population
- freestanding houses making up at least than 60 per cent of the local dwellings
- households having at least 2.5 people on average
- is in the top half of the country for educational and occupational status.
The 20 family suburbs are situated in Queensland (6), Victoria (6), Western Australia (3), New South Wales (2), South Australia (2) and the ACT (1).
The top 20 had average median house price of $939,875.
Top 20 ranking
|Rank||State||Suburb||Postcode||Median house price||Increase in inventory levels over past 3 months|
|1||QLD||Barellan Point||4306||$807,000||+3.3 months|
|9||QLD||Camp Mountain||4520||$1,300,000||+2.5 months|
|13||SA||West Lakes Shore||5020||$842,000||+2.2 months|
|15||NSW||Bolwarra Heights||2320||$940,000||+1.9 months|
|18||QLD||Black Mountain||4563||$950,000||+1.8 months|
Well Money (formerly Well Home Loans) CEO Scott Spencer said he was pleased to see buying conditions had become easier for all the suburbs in the top 20 ranking.
“Over the past three months, inventory levels have increased in all the suburbs, which means there’s more stock on market, buyers have more options and downward pressure is being placed on prices, which should translate into discounts sooner or later,” he said.
“That’s good to see, because while it’s nice for people’s homes to increase in value, we don’t want working families to be priced out of the market.
“All the suburbs in the top 20 ranking are family-friendly as well, which means they contain a lot of families, they contain a lot of owner-occupiers, they’re relatively close to capital city CBDs and they’re above-average in terms of educational and occupational status.”
Sophisticated data analysis has found these locations are good places for typical families to live right now, but that doesn’t mean they’ll have strong price growth in the future.