Buy for under $600k within 8km of city: Cheapest inner ring suburbs revealed
Yes, it is possible to buy a home within 8km of the CBD – for less than $600k. We’ve got the list of inner-ring suburbs for houses and units here.
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Homebuyers set on buying close to the CBD but on a tight budget have reason to rejoice, with four suburbs within 8km of the city commanding a median house price of less than $600,000.
Latest PropTrack data has revealed a list of top 20 suburbs that boast proximity to the CBD, and all with house and unit prices below $750,000. Kilburn hits the sweet spot for its nearness to the city and for being the cheapest inner-ring suburb, with a median house price of $525,000. In Adelaide’s inner north, the suburb is neighbours with Prospect where the median house price was $960,000.
Also making it to the top 10 list of cheapest inner-ring suburbs for houses were Lightsview, Ferryden Park, Ascot Park and Enfield with median prices of $561,000, $565,000, $590,000, and $620,000 respectively. In comparison, Adelaide’s current median house price sits at $630,000.
Selling agent Tristian Kennedy of Ray White said Kilburn was a “high density suburb” that had seen “heaps of development” in recent times.
“Not only is it close to the city, it has a lot more homes on offer with proximity to all the cafes and amenities in neighbouring Prospect, which is a blue-chip suburb,” he said. “It’s popular among investors for the high rental yields and low-maintenance homes.”
Having sold a number of properties in Kilburn, David Philpott of DB Philpott Real Estate has seen the suburb evolve.
“It’s a very diverse suburb and it has undergone a renaissance over the years to emerge as a popular and affordable option for homebuyers,” Mr Philpott said.
“The proximity to the city is a big drawcard as well as the number of semi-detached homes on offer,” he said.
Joshua Craven has rented in Kilburn for three years and said he loved the suburb’s convenience and affordability. “It doesn’t take long to get anywhere and the Churchill Shopping Centre is a big drawcard as well,” he said.
Buyers looking for units should head to Kurralta Park between the city and the sea. With a median price of $260,000, it is the cheapest inner-ring suburb for units.
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