Recent research shows that for most Australians, location isn’t everything and instead the majority of home buyers are searching outside of their dream suburbs for a more affordable abode.
In a recent survey, 54% of Australians who own, or are buying their own home, are broadening their horizons and looking outside of their wish list ‘burbs, while 26% aren’t prepared to sacrifice their ideal location or home at all and are happy to take on a bigger mortgage to tick both boxes.
What would you rather?
However, what if we told you there might not be the need to sacrifice location or your dream home?
By searching within SA1 areas, you could find a micro area in your suburb of choice that is relatively more affordable than the rest of the suburb.
SA1 areas, as defined by the Australian Bureau of Statistics, are micro suburbs made up of 200-800 people and this unit is commonly used to analyse census data.
Suburbs across Australia have SA1 areas and by researching your ideal neighbourhood, you could find a few pockets where you can save some money.
Use the interactive tool below to find the relatively more affordable micro areas of any suburb in Australia:
The date range used for the micro ‘burbs is taken from 1 November 2015 to 31 October 2017 and there had to be at least three sales in each SA1 area for that zone to meet the data requirements.
The overall suburb median house prices are taken from CoreLogic for the 12 months to 31 October 2017.
This article was originally published by RealEstate.com.au