They’re the suburbs with bigger houses near key amenities – and the lower prices mean home buyers can get better bang for their buck.
Aussie home seekers looking to make the next move up the property ladder have been handed a cheat sheet of where they can get more value in each major city without sacrificing convenience.
The research from PRDnationwide considered average property sizes, amenities such as schools, shopping centres and hospitals, along with property prices and their potential to grow.
SEE LIST OF BEST SUBURBS BELOW
PRD chief economist Diaswati Mardiasmo told the Herald Sun the aim was to identify areas where families will feel confident knowing their house will grow with them.
“They’ll benefit from high capital growth down the track,” she said.
The findings varied across each capital, with outer suburbs near new infrastructure dominating in Melbourne, while gentrifying suburbs in the Greater Parramatta region and southwest emerged tops in Sydney.
Some of Brisbane’s best picks for families were in the city’s northwest and inner southeast. A belt of suburbs south of Brighton were among the suburbs flagged as good options for upsizers in Adelaide.
The PRD research also identified the best suburbs for downsizers looking for an apartment or unit, considering factors such as security, amenities and proximity to the CBD.
Suburbs’ appeal for downsizers were also assessed based on the share of mixed use developments in the pipeline, meaning more opportunities to purchase.
The Gold Coast was considered one of the best markets for downsizers to find lifestyle apartments, along with parts of Melbourne’s inner north and Sydney’s Ryde region.
It comes as PropTrack forecasts showed national property prices were on track to rise by about 2-5 per cent over 2023.
Perth was expected to see the largest price gains at 4-7 per cent, followed by Sydney and Adelaide at 3-6 per cent. Hobart and Darwin were the only capitals were prices were forecast to drop.
SOME OF THE BEST SUBURBS FOR UPSIZERS/DOWNSIZERS
ADELAIDE
Upsizers: Woodcroft
Downsizers: Parkside
See the full Adelaide list and search the interactive
HOBART
Upsizers: Kingston
Downsizers: New Town
See the full Hobart list and search the interactive
MELBOURNE
Upsizers: Epping
Downsizers: Preston
See the full Melbourne list and search the interactive
SYDNEY
Upsizers: Bexley
Downsizers: Ryde
See the full Sydney list and search the interactive
BRISBANE
Upsizers: Green Bank
Downsizers: West End
See the full Brisbane list
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