Sister suburbs where buyers can save a fortune
Some suburbs on the outskirts of our capitals are offering property prices up to 200% cheaper than their more exclusive neighbours, making them a relative bargain for buyers.
But while these so-called "sister suburbs" may share a similar location to the aspirational suburb nearby, their housing offering may vary vastly, said PropTrack's director of economic research, Cameron Kusher.
"Sometimes you're comparing an acreage suburb with large homes on large blocks to a residential suburb where the housing offering is really different. Sometimes you're comparing suburbs that are adjacent to the beach or the water to those that aren't."
"Sometimes the substitute suburb for you isn't the one next door."
But in an inflationary environment, sister suburbs can offer a cheaper alternative for buyers with more limited budgets, Mr Kusher added.
"If people can't afford to be in these main suburbs and they really want to be in that location, maybe they will look at the price difference in the next-door suburb and think, 'sure it's not the same, but everything I want from that main suburb is five minutes away.
"For buyers, it really depends if it's the location or the type of property that's the most important thing."
Here are the sister suburbs 10 to 20 kilometres from our CBDs with the biggest difference in median sales prices to their surrounding suburb for houses over the 12 months to March 2023, according to PropTrack data.
Sydney
In Sydney, the small Northern Beaches suburb of Duffys Forest boasts some of the most expensive property in the nation, mainly rambling equestrian homes on acreages that fetch a median sales price of $5.23 million.
Next-door Terrey Hills, a quiet residential suburb, has a median property price of $2 million, 161% cheaper.
| Suburb | Suburb Median | Surrounding Suburb | Suburb Median |
| Duffys Forest NSW 2084 | $5,225,000 | Terrey Hills NSW 2084 | $2,000,000 |
| Warrawee NSW 2074 | $3,400,000 | Thornleigh NSW 2120 | $1,557,500 |
| Strathfield NSW 2135 | $3,380,000 | Enfield NSW 2136 | $1,700,000 |
| Curl Curl NSW 2096 | $3,600,000 | Narraweena NSW 2099 | $1,891,500 |
| Kyle Bay NSW 2221 | $3,025,000 | South Hurstville NSW 2221 | $1,600,000 |
| Collaroy NSW 2097 | $3,475,000 | North Narrabeen NSW 2101 | $1,865,000 |
| Freshwater NSW 2096 | $3,525,000 | Brookvale NSW 2100 | $1,996,000 |
| Strathfield South NSW 2136 | $1,837,500 | Lakemba NSW 2195 | $1,045,000 |
| Turramurra NSW 2074 | $2,965,000 | Normanhurst NSW 2076 | $1,720,000 |
| Eastwood NSW 2122 | $2,342,500 | Dundas Valley NSW 2117 | $1,510,000 |
On the North Shore, buyers considering a home in leafy and affluent Warrawee could consider Thornleigh, which is 118% cheaper with a median price of $1.56 million.
In the Inner West, those dreaming of a home in the trophy suburb of Strathfield could look at Enfield, which is 99% cheaper with a median price of $1.7 million.
Agent Jackson Cox at Richard Mathews Real Estate Strathfield said Enfield has been attracting significant interest in the last few years as prices in Strathfield have "gone nuts".
"There's a lot more demand in Enfield for more entry-level homes that can be knocked down to build ones that are comparable to those in Strathfield. The compromise is usually a bit smaller on the land size, but they're getting essentially the same position for a lot cheaper."
Melbourne
In Melbourne, buyers looking in the semi-rural suburb of Plenty northeast of the city, where the house median is $1.85 million, will find similar amenities in nearby Mill Park, where the median price is $770,000, a whopping 140% cheaper.
Agent Daniel Nardella at Ray White Mill Park said while residential Mill Park is so close to Plenty, it attracts a very different type of buyer.
| Suburb | Suburb Median | Surrounding Suburb | Suburb Median |
| Plenty VIC 3090 | $1,850,000 | Mill Park VIC 3082 | $770,000 |
| Black Rock VIC 3193 | $2,375,000 | Cheltenham VIC 3192 | $1,199,000 |
| Altona VIC 3018 | $1,150,000 | Laverton VIC 3028 | $601,000 |
| Balwyn VIC 3103 | $2,869,000 | Mont Albert North VIC 3129 | $1,550,000 |
| Mont Albert VIC 3127 | $2,315,000 | Box Hill North VIC 3129 | $1,300,000 |
| Attwood VIC 3049 | $990,500 | Meadow Heights VIC 3048 | $560,000 |
| Lower Plenty VIC 3093 | $1,615,000 | Briar Hill VIC 3088 | $915,000 |
| Strathmore VIC 3041 | $1,525,500 | Airport West VIC 3042 | $885,000 |
| Greenvale VIC 3059 | $877,750 | Coolaroo VIC 3048 | $513,500 |
| Balwyn North VIC 3104 | $2,294,000 | Bulleen VIC 3105 | $1,350,000 |
"Buyers priced out of Plenty tend to look towards the more leafy suburbs of Greensborough and Watsonia."
But he added that Mill Park benefited from its proximity to Plenty.
"With the price of Plenty so high, buyers and property owners in Mill Park hope that will impact the price of their suburb as well. We expect the time will come when its prices will start to rise very quickly."
Meanwhile buyers looking bayside but priced out of Black Rock, where the median property price is $2.38 million, could look at Cheltenham, which is a staggering 98% cheaper at $1.2 million.
Brisbane
The semi-rural suburb of Chandler is one of Brisbane's most exclusive, where properties boast a median of $2.5 million.
But neighbouring Capalaba, which also sits on the shore of Tingalpa Reservoir, is a staggering 233% cheaper, with a median price of $750,000.
| Suburb | Suburb Median | Surrounding Suburb | Suburb median |
| Chandler QLD 4155 | $2,500,000 | Capalaba QLD 4157 | $750,000 |
| Bridgeman Downs QLD 4035 | $1,275,000 | Brendale QLD 4500 | $407,500 |
| Stretton QLD 4116 | $1,312,944 | Woodridge QLD 4114 | $470,000 |
| Gumdale QLD 4154 | $2,050,000 | Tingalpa QLD 4173 | $820,000 |
| Rochedale QLD 4123 | $1,536,000 | Rochedale South QLD 4123 | $790,000 |
| Bridgeman Downs QLD 4035 | $1,275,000 | Fitzgibbon QLD 4018 | $673,000 |
| Kuraby QLD 4112 | $875,000 | Woodridge QLD 4114 | $470,000 |
| Camp Mountain QLD 4520 | $1,567,500 | Ferny Hills QLD 4055 | $875,000 |
| Heathwood QLD 4110 | $853,000 | Ellen Grove QLD 4078 | $535,000 |
| Sandgate QLD 4017 | $1,095,000 | Bald Hills QLD 4036 | $690,000 |
"Chandler is a niche acreage suburb where the smallest block is 2.5 acres, whereas Capalaba is a residential suburb so house prices are massively different," explained agent Bianca Stubbs at First National Cleveland.
"There are acreage pockets in Capalaba but they don't fetch anywhere near the price tag of Chandler. But both suburbs are close to the city and close to the water. They both have the same attributes."
Similarly, Bridgeman Downs, an acreage suburb north of the city, enjoys a median property price of $1.28 million, while the nearby residential suburb of Brendale presents a median of $407,500, a huge 213% difference.
Adelaide
In Adelaide, buyers seeking beach proximity could look at Dover Gardens where the median property price is $673,500, 74% cheaper than beachside Seacliff, where the median price is $1.17 million.
Agent Paul McGrath at McGrath Real Estate Group Glenelg said Dover Gardens enjoys a flow of buyers priced out of Seacliff but says there's a big difference between the two areas.
| Suburb | Suburb Median | Surrounding Suburb | Suburb median |
| Seacliff SA 5049 | $1,173,000 | Dover Gardens SA 5048 | $673,500 |
| Teringie SA 5072 | $1,523,000 | Rostrevor SA 5073 | $895,500 |
| Aldgate SA 5154 | $1,276,000 | Bridgewater SA 5155 | $761,500 |
| West Lakes Shore SA 5020 | $952,000 | Queenstown SA 5014 | $575,000 |
| Marino SA 5049 | $1,009,000 | Trott Park SA 5158 | $610,000 |
| Craigburn Farm SA 5051 | $1,092,000 | Aberfoyle Park SA 5159 | $662,000 |
| Semaphore SA 5019 | $945,000 | Ethelton SA 5015 | $595,000 |
| Brighton SA 5048 | $1,050,000 | Seacombe Gardens SA 5047 | $668,050 |
| Largs Bay SA 5016 | $793,500 | Taperoo SA 5017 | $520,000 |
| Walkley Heights SA 5098 | $835,000 | Ingle Farm SA 5098 | $550,000 |
"Seacliff is luxurious while Dover Gardens used to be a housing trust area but it's now enjoying a fantastic rise. We're definitely seeing a semi-circular ripple effect from the beachside suburbs."
Meanwhile buyers looking in the Adelaide Hills who can't afford the large, bushy blocks and views enjoyed in Teringie, where properties command a median of $1.52 million, could consider nearby Rostrevor, where the median is $895,500, 70% cheaper.
Perth
In the Western Australian capital, buyers priced out of the affluent suburb of Peppermint Grove on the northern bank of the Swan River, where the median property price is $4.8 million, could consider Mosman Park.
| Suburb | Suburb Median | Surrounding Suburb | Suburb median |
| Peppermint Grove WA 6011 | $4,800,000 | Mosman Park WA 6012 | $1,800,000 |
| Herne Hill WA 6056 | $965,000 | Stratton WA 6056 | $382,500 |
| Hazelmere WA 6055 | $899,000 | Koongamia WA 6056 | $359,000 |
| Banjup WA 6164 | $1,500,000 | Atwell WA 6164 | $600,000 |
| Gnangara WA 6077 | $1,367,500 | Pearsall WA 6065 | $556,000 |
| Banjup WA 6164 | $1,500,000 | Success WA 6164 | $616,500 |
| North Coogee WA 6163 | $1,415,000 | Hamilton Hill WA 6163 | $590,000 |
| Stirling WA 6021 | $952,000 | Westminster WA 6061 | $416,000 |
| Marmion WA 6020 | $1,400,000 | Padbury WA 6025 | $678,100 |
| Guildford WA 6055 | $760,000 | Lockridge WA 6054 | $370,000 |
The suburb enjoys a similar riverside location and a median property price 167% cheaper at $1.8 million.
Hobart
On the Apple Isle, buyers looking for a slice of rural heaven in Tasmania's Southern Midlands with proximity to Hobart may do well to look in Gagebrook.
| Suburb | Suburb Median | Surrounding Suburb | Suburb median |
| Tea Tree TAS 7017 | $885,000 | Gagebrook TAS 7030 | $390,000 |
| Old Beach TAS 7017 | $710,000 | Herdsmans Cove TAS 7030 | $401,000 |
| Sandford TAS 7020 | $1,180,000 | Oakdowns TAS 7019 | $695,000 |
| Dromedary TAS 7030 | $800,000 | Bridgewater TAS 7030 | $488,000 |
| Seven Mile Beach TAS 7170 | $970,000 | Midway Point TAS 7171 | $620,500 |
| Rosetta TAS 7010 | $677,500 | Chigwell TAS 7011 | $530,000 |
| Granton TAS 7030 | $780,000 | Austins Ferry TAS 7011 | $630,000 |
| Kingston Beach TAS 7050 | $1,007,500 | Blackmans Bay TAS 7052 | $820,000 |
| Margate TAS 7054 | $837,000 | Huntingfield TAS 7055 | $703,500 |
| Montrose TAS 7010 | $650,000 | Berriedale TAS 7011 | $580,000 |
The pleasant suburb lines the Jordan River and offers properties at a median of $390,000, a whopping 127% cheaper to those in more pricey Tea Tree next door, where the median is $885,000.
Canberra
In Canberra, buyers seeking a peaceful place to live in the city's northwest fringe but unable to afford Weetangera, where the median property price is $1.29 million, could look at nearby Scullin, where properties enjoy a median of $825,000, 57% cheaper.
Source: realestate.com.au
