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aerial view of suburb

A new report compiled by Aussie Home Loans and CoreLogic RP Data has identified Hobart as the most affordable city in Australia for houses, with 17 of the top 20 most affordable suburbs located less than 20 kilometres from the city at a median value under $300,000.

Glenorchy City Council has the highest number of affordable suburbs in the top 20, but Brighton Council’s Gagebrook came out on top with a median value of $135,000.

Clarendon Vale, with a median price of $156,000, is the most affordable suburb for houses within 10 kilometres of the CBD, and 18 of the top 20 suburbs are located in Clarence and Glenorchy City Council areas.

Meanwhile the most affordable suburbs for apartments within 20 kilometres of Hobart’s CBD are located within Hobart and Glenorchy City Council areas, with a median value under $300,000. The suburb of Claremont tops the list at $195,000.

The most affordable suburb for apartments within 10 kilometres of the CBD is Glenorchy with a median value of $199,000.

Most affordable suburbs within 10 and 20km of the Hobart CBD, houses

Hobart affordable suburbs table - houses within 10KM of CBD
Hobart affordable suburbs table - houses within 210KM of CBD

Most affordable suburbs within 10 and 20km of the Hobart CBD, units

Hobart affordable suburbs table - Units within 10KM of CBD
Hobart affordable suburbs table - Untis within 20KM of CBD

Founder and Executive Chairman of Aussie, Mr John Symond, said “Hobart posted a fall in dwelling values of almost 1 per cent over the last year and I would expect this decline to continue, which is great news for buyers looking to get into the market, especially first timers.

“There is money available for home lending, interest rates remain low and owner occupiers can still borrow up to 95 per cent of a property’s value. Our report provides a map of where the most affordable property is located, so these suburbs are a good place to start for anyone looking to buy on a budget,” he added.

Map of Hobart’s Most Affordable Suburbs within 10 and 20km of the CBD, houses

Map of Hobart

To download the full Aussie/CoreLogic RP Data Most Affordable Suburbs Report, visit www.aussie.com.au/affordable-suburbs.

Aussie’s mobile mortgage brokers and stores offer free home loan advice and pre-approvals for home loans sourced from its panel of up to 19 lenders, including the big banks. To book a free appointment, call 13 13 33 or visit www.aussie.com.au.

Click here to download this press release.