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News.com.au
18-07-2025
- Business
- News.com.au
Bargain homes list: cheapest Sydney suburbs 10km from CBD
Houses with a price tag below $2 million could soon vanish from Sydney's inner suburbs, with less than 100 houses currently listed below this threshold within a 10km radius of the city. It's come as agents warn $3 million has already become the norm for most houses in areas within Sydney's inner ring, with prices above $1 million largely the norm for most inner apartments. Research from Ray White Economics showed the cheapest inner suburbs were currently a strip of suburbs under the flight path of Sydney Airport, including Tempe, Sydenham and St Peters. Houses in these suburbs had a median price of about $1.7 million but, being smaller areas, rarely had properties available for sale. And the prices are going up. The next cheapest suburb within 10km from the city by median house price was Mascot, where houses commanded prices of about $1.95 million. Thereafter, Marrickville had the next cheapest houses, with typical prices of about $2.1 million. Ray White Economics data analyst Atom Go Tian said expensive prices in inner suburbs were affecting the entire market as it meant even families on decent incomes were being pushed out. 'We're very close to, or may have already reached the point, where sub-$2 million houses disappear entirely from 'easy reach' of the CBD,' he said. 'As each distance band fills up with expensive housing, buyers are pushed further out, creating a ripple effect that inflates prices in previously affordable areas.' Even the cheapest detached housing in much of the area within 10km of the CBD was out of reach for families on fairly decent incomes, Mr Go Tian added. 'The implication is that even with dual professional incomes, many households are effectively locked out of inner Sydney,' he said. '(That's) unless they have substantial family wealth or equity from previous property ownership. 'This effectively creates a two-tier system where property ownership in inner Sydney becomes increasingly dependent on intergenerational wealth transfer rather than earned income alone.' With limited options to buy houses within a 10km radius of CBD, PropTrack data indicated buyer competition has been ramping up – especially since interest rates were cut earlier this year. PropTrack reported an average of over 100 'key' buyers per listing for houses in Rosebery, in the inner south, and in coastal suburbs Coogee, Clovelly and Rose Bay. Key buyers were those who had inquired about listings with agents by phone, text, email or submitted an online request for an inspection. Adrian Tsavalas, the director of inner west agency Adrian William, said there were simply not enough houses within inner suburbs for the numbers of buyers who wanted them. 'It's just pure supply and demand and that's why the prices keep going up,' he said. 'It won't be long until there are no longer any opportunities to buy under $3 million close to the (CBD). We've already seen that happen with $1 million and then $1.5 million. It's inevitable.' Data showed prices in Sydney's middle ring suburbs – between 10km and 20km of the CBD – were generally cheaper than those closer to the CBD but remained a big ask for house buyers on regular incomes. House prices across most of this region were also above $2 million, with a cluster of suburbs that roughly followed the Bankstown train line in the southwest offering the most affordable options. This grouping included neighbouring suburbs Wiley Park and Lakemba (the only two middle-ring suburbs with a median house price below $1.4 million) and Greenacre, with a median of $1.45 million. Once house seekers went between 20km and 35km outside of the CBD, some of the cheapest options included southwest suburb Fairfield (median $1.12 million) and nearby Canley Vale ($1.22 million). 'Areas like Fairfield East, Granville-Clyde, and Auburn have industrial heritage that has historically kept residential prices lower,' Mr Go Tian said. 'The data shows cheaper areas are typically those with longer commute times or poorer transport connections, suggesting infrastructure hasn't kept pace with housing demand.' Marrickville resident Monica Wulff said she wasn't surprised to learn her area offered home buyers some of the best bang for their buck closer to the city. 'The houses are a lot bigger than in the surrounding areas and you get this access to culture while still being convenient and quiet enough to raise children,' she said. 'Our house has a big garage, new kitchen, space to breathe and a bit of a backyard and we didn't find you could get that kind of value even in places a little further out like Leichhardt.' The couple are now selling their Philpott St house at auction August 2 to be closer to family. Ms Wulff said cheaper prices in outer suburbs were not really an option for them. 'We need to be close to the city. It needs to be accessible. We got that in Marrickville but it's not easy to find that (in Sydney).'
Courier-Mail
17-07-2025
- Business
- Courier-Mail
Brisbane's housing market scores silver in the race to be the fastest-selling city
Brisbane's homes are selling so fast that the rest of the country is struggling to keep up. New analysis from Ray White Group has found Brisbane to be the second-fastest selling capital city across the country, and the capital that closest follows ongoing Australian trends. Across Brisbane, 64 per cent of homes sell within 15 to 30 days, beating the national median of 31 days. Meanwhile, 19 per cent of homes sell within the first 14 days of the campaign, meaning 83 per cent of Brisbane's housing market is in a healthy condition. This is only beaten by Perth, where 97 per cent of properties will sell within the first month, with 76 per cent of homes selling in the first 14 days. Ray White senior data analyst Atom Go Tian said despite Perth's 'astronomical' growth, there was a concern it may 'rubberband back' when compared to Brisbane's consistent market. 'Brisbane is unique because it mirrors Australia's trend the most closely,' he said. 'My guess is that the price range of Brisbane is very close, historically, to that of Australia … although [sales times] are faster by comparison.' 'Brisbane's been seeing that jump in population, and that's why the urgency has been faster than Hobart, or Canberra.' The data was gathered from data firm Cotality's monthly indices, observing median sale times and a closer analysis of individual suburb sales within each city. Five suburbs observed within Brisbane all sold within eight to nine days, with prices ranging from $522,500 to $750,000. Overall, Australian homes are slowly spending more time on the market, following the post-Covid housing boom. Brisbane homes were on the market for a median of 18 days in June of 2024, and 21 days in June of 2025, compared to a nation rise of 29 to 31 days. CEO of Ray White Collective Haesley Cush said calmer weather and large migration numbers were both big factors when it came to Brisbane's strong house sales. 'The Brisbane market is in great shape for all the market and infrastructure reasons, but beyond that, the market performs when Sydney and Melbourne don't,' he said. 'You've got a lot of people wanting to buy, so you've got the most pent-up competition.' Mr Cush added that one thing going against the city's appeal was building costs, which have skyrocketed in recent years due to an inability to meet demand. 'With Brisbane, all of the good buttons are sitting there,' he said. 'And the one bad button is the cost to build. Unfortunately for buyers, this is a good button for sellers.'
News.com.au
17-07-2025
- Business
- News.com.au
Brisbane's housing market scores silver in the race to be the fastest-selling city
Brisbane's homes are selling so fast that the rest of the country is struggling to keep up. New analysis from Ray White Group has found Brisbane to be the second-fastest selling capital city across the country, and the capital that closest follows ongoing Australian trends. Across Brisbane, 64 per cent of homes sell within 15 to 30 days, beating the national median of 31 days. Meanwhile, 19 per cent of homes sell within the first 14 days of the campaign, meaning 83 per cent of Brisbane's housing market is in a healthy condition. This is only beaten by Perth, where 97 per cent of properties will sell within the first month, with 76 per cent of homes selling in the first 14 days. Ray White senior data analyst Atom Go Tian said despite Perth's 'astronomical' growth, there was a concern it may 'rubberband back' when compared to Brisbane's consistent market. 'Brisbane is unique because it mirrors Australia's trend the most closely,' he said. 'My guess is that the price range of Brisbane is very close, historically, to that of Australia … although [sales times] are faster by comparison.' 'Brisbane's been seeing that jump in population, and that's why the urgency has been faster than Hobart, or Canberra.' The data was gathered from data firm Cotality's monthly indices, observing median sale times and a closer analysis of individual suburb sales within each city. Five suburbs observed within Brisbane all sold within eight to nine days, with prices ranging from $522,500 to $750,000. Overall, Australian homes are slowly spending more time on the market, following the post-Covid housing boom. Brisbane homes were on the market for a median of 18 days in June of 2024, and 21 days in June of 2025, compared to a nation rise of 29 to 31 days. CEO of Ray White Collective Haesley Cush said calmer weather and large migration numbers were both big factors when it came to Brisbane's strong house sales. 'The Brisbane market is in great shape for all the market and infrastructure reasons, but beyond that, the market performs when Sydney and Melbourne don't,' he said. 'You've got a lot of people wanting to buy, so you've got the most pent-up competition.' Mr Cush added that one thing going against the city's appeal was building costs, which have skyrocketed in recent years due to an inability to meet demand. 'With Brisbane, all of the good buttons are sitting there,' he said. 'And the one bad button is the cost to build. Unfortunately for buyers, this is a good button for sellers.'
7NEWS
13-06-2025
- Business
- 7NEWS
Why wellness features pay off in luxury homes, and by exactly how much
From infra-red saunas and cold plunge pools to biophilic architecture and sustainable design, high-end buyers now expect homes that support not just their lifestyle, but long-term wellbeing. Ray White's Luxury Report 2025 reveals that homes with dedicated wellness features are commanding significant premiums - 10 to 25 per cent more than comparable properties without them. This trend marks a shift in how luxury is being defined and valued. "Nearly one third of Australia's wellness market expansion since 2019 has been driven by wellness real estate, reflecting a fundamental shift in how homebuyers view their living spaces and establishing Australia as the world's fourth-largest wellness real estate market as of 2023," said Ray White Head of Research, Vanessa Rader. And this isn't just a passing trend. It's part of a broader global shift. The Global Wellness Institute estimates the wellness real estate market was worth US$398 billion in 2022 and is expected to more than double to US$887.5 billion by 2027. That explosive growth reflects changing expectations among affluent buyers who are increasingly seeking homes that are restorative, sustainable, and personal sanctuaries. The shift also extends to the buyers - retirees or traditional high-net-worth individuals aren't the only ones fuelling the market. The report's analysis of this year's top 20 luxury sales reveals a buyer pool that's younger, more entrepreneurial, and increasingly self-made. Today's prestige buyers are often in their late 40s or early 50s, but a growing cohort of millennial entrepreneurs is entering the market. "Today's ultra-luxury property buyers are primarily self-made business owners, especially those who built digital and tech companies, rather than corporate executives who once dominated this market," said Ray White Senior Data Analyst Atom Go Tian. "The wealth behind these purchases now comes from a much wider range of industries, with online businesses and technology ventures leading the way." An analysis of this year's top 20 sales reveals today's luxury purchasers are predominantly self-made entrepreneurs from diverse sectors including e-commerce, property development, financial services, fashion, and technology. In blue-chip suburbs like Sydney's Bellevue Hill or Perth's Nedlands-Dalkeith-Crawley, homes boasting wellness infrastructure - think yoga studios, infrared saunas, organic gardens and smart air-filtration systems - are transacting faster and at higher prices than their more traditional peers. Wellness is now an essential element in Australia's high-end property market. But what exactly does that mean? What wellness looks like in high-end homes Dedicated health spaces Prestige homes are increasingly being designed with in-home wellness zones. Think infrared saunas; steam rooms; cold plunge; Pilates, yoga and meditation studios with sound insulation; massage and treatment rooms; and state-of-the-art gyms. These aren't tucked away in the garage, they're integrated into the architectural flow of the home, with aesthetics to match. Health-enhancing tech Luxury now means everything is optimised for peak health, from the air you breathe and water you drink, to how much radiation you're exposed to. Advanced air purification systems filter allergens, pollutants and pathogens, ditto water filtration systems. Circadian lighting systems help regulate the body's natural sleep cycles, and EMF-reducing technology lowers radiation, especially in rest spaces. The report notes that some luxury homes even have specialised equipment fitted, like hyperbaric oxygen chambers. Sustainable and biophilic design Sustainability features like solar arrays, rainwater harvesting, cross-ventilation, and non-toxic materials are environmentally sound and commercially savvy, as buyers are willing to pay a premium for homes with these features. Natural materials, abundant light, indoor greenery and seamless indoor-outdoor transitions are expected. Features like living walls and indoor gardens purify air and reduce stress, and water features create calming soundscapes and improve humidity levels. Of course, views also help with establishing a sense of serenity. It all points to the same conclusion: in today's prestige market, wellness doesn't just feel good - it's an essential that delivers a return. Properties for sale with wellness features and design principles This terrace in Sydney's Paddington incorporates a 10-metre internal green wall and internal pond, plus a six-person Sunlighten infrared sauna on the subterranean level. There are high-end natural materials, indoor-outdoor flow and much more. This luxe new Gold Coast build has a wellness-centric design, with a complete home water filtration system; low-tox natural materials like marble, limestone and New Zealand wool carpet; low VOC paint on all interior walls; and a low electromagnetic radiation (EMR) design in the bedrooms for restorative sleep. This luxury Cottesloe luxury property boasts 40 solar panels and double glazing, along with the likes of a salon-grade spa room comprising a massage area, bathroom, sauna and jacuzzi jet showers. In addition to lush natural materials, there's a solar-heated mineral pool and ocean views. This Northern Beaches property in Sydney is like living in your own resort, complete with natural materials, indoor-outdoor living, plus a medical-grade sauna, spa and gym. It's bathed in natural light and enjoys manicured gardens and a mineral pool.
Courier-Mail
10-06-2025
- Business
- Courier-Mail
Australia's next million dollar suburbs revealed
Once the hallmark of Australia's most prestige suburbs, the $1 million home is now a nationwide reality, and for many, a bare minimum. Latest Ray White market data shows Australia now has 923 suburbs with median house prices of at least $1 million, with a further 78 expected to join this exclusive club within the next 12 months. It means there could be over 1000 suburbs with $1m medians by mid 2026, according to senior data analyst Atom Go Tian. 'Melbourne currently holds second place with the most million-dollar suburbs after Sydney, but this could change,' he said. 'Brisbane is surging fast with 17 new suburbs expected to cross the threshold – a surge that could see it tie with Melbourne for second place by next year. 'Regional Queensland is the most popular regional area, buoyed by the presence of the Gold Coast and Sunshine Coast.' MORE NEWS Insane amount celebs spend on Aussie homes Shock salary you now need to buy a home Why luxury home dream could be out of reach for millions Perth: The new million dollar hotspot? Mr Go Tian said Perth had emerged as the star of Australia's housing boom, contributing an outsized 22 of the 78 new million-dollar suburbs. He said the remarkable showing reflected the city's position as having the strongest house price growth over the past three years, with suburbs showing annual growth rates between 11 to 14 per cent. 'The Perth story is one of outward expansion. All of the city's inner suburbs now sit above $1 million, pushing growth into previously more affordable areas,' Mr Go Tian said. 'Roleystone is the most likely candidate to cross the threshold, with current prices at $992,000 and 13 per cent annual growth pointing towards $1.12 million within 12 months. 'Other Perth suburbs are tracking towards even higher levels: Bayswater-Embleton-Bedford ($967,000), Padbury ($969,000), Serpentine-Jarrahdale ($972,000), and Tuart Hill-Joondanna ($958,000) are all positioned to exceed $1.08 million, which is notably higher than comparable suburbs in other capitals.' MORE NEWS: Great Aussie dream crushed by cost surge A new number two! Brisbane's growth is the antithesis to Melbourne's stagnation, Mr Go Tian said. The Queensland capital has experienced sustained 8 to 9 per cent annual growth, with 17 new suburbs expected to cross the million-dollar threshold, a surge that will likely see Brisbane tie with Melbourne for second place by next year. 'Just like with Perth, Brisbane's growth is spreading to the outskirts of the city: Eagle Farm-Pinkenba leads at $978,000 with 9.9 per cent growth, while the expansion spans from Algester in the south ($991,000) to Karana Downs in Ipswich ($983,000), Mango Hill in Moreton Bay South ($978,000), and Riverhills in the west ($976,000),' Mr Go Tian said. 'Melbourne, despite currently holding second place, has seen muted growth over the past three years, meaning no new suburbs will join the exclusive ranks.' MORE NEWS: First-home frenzy: Young Aussies locked out What about Adelaide, Sydney, and Canberra? Sydney's 14 new suburbs tell the story of Australia's most expensive housing market running out of affordable options. With the city's geometric mean house price already at $1.6 million, the new million-dollar suburbs represent the final pockets of relative affordability—mostly clustered in outer growth areas like Currans Hill in Camden ($995,000) and Hassall Grove-Plumpton in Blacktown ($989,000), alongside several Campbelltown suburbs. 'Even these 'affordable' areas are tracking towards $1.02-1.04 million,' Mr Go Tian said. Adelaide's 11 new additions show a similar pattern of expansion from the already-expensive Central and Hills region. Bellevue Heights ($997,000), Willunga ($998,000), and Coromandel Valley ($981,000) in Adelaide South are joined by Plympton ($995,000) and Flinders Park ($991,000) in Adelaide West, all showing steady 7 to 8 per cent growth rates. Behind Sydney, Canberra has Australia's second-highest concentration of million-dollar suburbs. However, the territory's muted growth over recent years means only three suburbs will join the club: Gungahlin ($998,000), Palmerston ($984,000), and Holder ($990,000) are edging across the threshold with minimal annual growth rates of just 1 to 2 per cent. MORE NEWS: Unexpected leader in home price boom Regional winners Mr Go Tian said regional areas weer also making a strong showing across the country. 'Queensland's growth corridors lead the charge – Meridan Plains on the Sunshine Coast ($994,000), Middle Ridge in Toowoomba ($977,000), and Coomera on the Gold Coast ($959,000) – alongside Western Australia's premium coastal areas like Margaret River ($951,000),' he said. 'Gelorup-Stratham in Bunbury stands out with current prices at $953,000 and 12 per cent growth, demonstrating that Perth's housing boom extends well beyond the metropolitan area.'
