Brisbane’s most affordable family-friendly suburbs have been revealed.
NORTH Lakes has topped a list of affordable ‘family-friendly’ suburbs where home buyers can get a better deal and still be within reach of the city.
The Moreton Bay suburb, north of Brisbane, rated 95 out of 100 for its family friendliness, according to analysis from comparison site Finder, with an affordable median unit price of $388,500.
North Lakes has topped a list of Greater Brisbane’s most ‘family-friendly’ suburbs.
The neighbouring suburb of Narangba also scored highly for units (93), and the nearby suburb of Deception Bay made the list for both houses and units, with family-friendly scores of 93 and 90, respectively.
The family-friendly score was determined by the number of childcare centres, its percentage of family households and number of criminal offences.
MORE PROPERTY NEWS:
Bad real estate agents, not the market, are the problem
Buyers, sellers, renters: 16 Qld property veterans reveal what to expect next
What your home is worth: Every Qld suburb’s median price revealed
This one-bedroom unit at 29/3 McLennan Court, North Lakes, is for sale.
The research is also based on home prices and suburbs were only considered if repayments for a standard home loan on a median-priced property were less than 30 per cent of Queensland’s gross median household income.
Finder also found suburbs in these regions tended to be cheaper, well-connected and, critically, often overlooked by home seekers.
This property at 24 Diamond Crest Ave, Deception Bay, is on the market.
The analysis found 30 per cent of suburbs in Brisbane are classified as affordable based on the median household income in Queensland
When it comes to property type, 17 per cent of Brisbane’s houses are affordable, while 44 per cent of its units are affordable
However, for families in Sydney, Melbourne and Hobart choices are more limited, with only 3 per cent, 10 per cent, and 2 per cent of suburbs being affordable in those cities, respectively.
This home at 6 Buschman Close, Redbank Plains, is for sale.
The analysis also shows that families looking for an affordable suburb are much more likely to find one when looking at units rather than houses in all capital cities.
Finder home loans editor Richard Whitten said finding an affordable home was “more important than ever before” as the “soaring cost of living continues to squeeze family budgets”.
He said that with interest rates rising, the market was now heading into “uncharted territory”, where property prices may fall but home loans would become more expensive.
This house at 8 Semley St, Hillcrest, is on the market.
“The first steps for any buyer looking to enter the market are working out a realistic deposit size and property price,” Mr Whitten said.
“Then you need to work out how much you can realistically afford to borrow. And with rates rising, be sure to factor in higher interest rates. Maybe you can afford your mortgage repayments at 3 per cent, but what if your rate jumped to 5 per cent?”
BRISBANE’S 18 MOST AFFORDABLE FAMILY FRIENDLY SUBURBS
Suburb Property Median price Monthly Family Friendly
Type Repayment Score (/100)
North Lakes Unit $388,500 $1,512 95
Belmont Unit $480,000 $1,878 94
Narangba Unit $399,000 $1,561 93
Mitchelton Unit $425,750 $1,666 93
Deception Bay House $509,000 $1,991 93
Redbank Plains House $408,500 $1,598 92
Victoria Point Unit $426,250 $1,668 92
Redbank Plains Unit $262,000 $1,025 91
Springfield Lakes Unit $410,150 $1,605 91
Ebbw Vale House $344,250 $1,347 91
Kallangur Unit $315,000 $1,232 90
Deception Bay Unit $292,500 $1,144 90
Salisbury Unit $413,500 $1,618 90
Kingston House $375,000 $1,467 90
Richlands House $482,500 $1,888 89
Hillcrest House $478,500 $1,872 87
Bellbird Park House $510,000 $1,995 86
Woodridge House $365,000 $1,428 85
Eagleby House $399,000 $1,561 85
Raceview House $407,250 $1,593 84
(Source: Finder)
The post The 18 best Brisbane suburbs for families revealed appeared first on realestate.com.au.