No suburbs with house prices under $420,000 within 20 kilometres of Sydney, Canberra and Darwin: RP Data

Buying a house in the cheapest suburb within 20 kilometres of the CBD will still cost at least $420,000 in Sydney, Darwin and Canberra, according to an RP Data report.

Granville, south of Parramatta, is the cheapest suburb within 20 kilometres of Sydney’s CBD, with a median house price of $445,424.

In Canberra, the cheapest suburb within 20 kilometres is Richardson, in the south, with a median house price of $452,540.

In Darwin, the cheapest suburb is Moulden in the south-west, with a median house price at $423,007.

Prices are significantly lower within 20 kilometres of the other capital cities, with Melbourne’s Dallas, in the north, at $288,702; Brisbane’s Gailes, in the south-west, at $239,700; Adelaide’s Salisbury North, in the north, at $229,601; Perth’s Maddington, in the south-east, at $298,297; and Hobart’s Bridgewater, in the north-west, at $174,464.

RP Data’s Cameron Kusher says unlike the unit market, house prices do tend drop in price the further out from the city buyers look.

“The most highly sought after areas of the city tend to be those which are close to the city centre as well as the most expensive in which to purchase a home,” Kusher says.

Source: RP Data

Within five kilometres of the CBD, buying a house costs more than $500,000 across every capital city except Adelaide and Hobart.

Within five kilometres of the CBD, the cheapest suburb in Sydney is Waterloo, with a median house price of $607,518. This is followed by Melbourne’s Flemington at $599,785, Canberra’s Downer at $579,932, Brisbane’s Morningside at $533,066, Darwin itself at $508,292, Perth’s Carlisle at $506,339, Adelaide’s Renown Park at $387,573, and Hobart’s Warrane at $231,267.