Top 5 cheapest suburbs to buy a unit in Sydney

Looking for cheapest suburbs to buy a unit in Sydney or affordable suburbs to buy a house in Sydney? You might want to explore areas that are a bit further from the city center or are less trendy. If you’re specifically eyeing cheaper suburbs to buy units in Sydney, considering less populated areas could be a smart move.

Here’s a breakdown of the top 5 affordable suburbs in Sydney’s western region:

Nestled in the City of Fairfield, Carramar is situated 30 kilometers west of Sydney’s CBD. Offering convenient access to local amenities and transportation, Carramar boasts the potential for picturesque views of Orphan School Creek. With a median unit price of $375,500, (CoreLogic, Dec 2023) Carramar provides excellent value for unit buyers. Over the past five years, unit prices have seen a significant increase of +19.5 percent. Furthermore, Carramar stands out as Sydney’s most budget-friendly suburb for renting units, with a median rent of $390.

This suburb presents promising opportunities for both investors and homeowners alike. Carramar, 2163 may one of the best investment property or cheapest suburbs to buy a unit in Sydney, who is looking for affordable realestate investment.

Located in the City of Canterbury-Bankstown, just 12 kilometers from Sydney’s CBD, Lakemba offers affordable unit options with a median price of $395,000. While experiencing a modest rise of +1 percent over the past five years, Lakemba presents an attractive prospect for homebuyers seeking affordability near the city. Investors will also find encouragement here, with a low vacancy rate of 0.16 percent and a respectable +5.9 percent rental yield, along with a weekly rent of $480 for units, as per SQM Research data.

Adjacent to Lakemba, Wiley Park is a lively and well-connected suburb. Despite a slight decline of -1.6 percent in unit prices over the last five years, Wiley Park offers relative bargains for homebuyers, with a median unit price of $396,000. Although price growth may be gradual, Domain data indicates a significant +27.3 percent increase in median unit rent over the past year, reaching a weekly rent of $430.

Wiley Park stands as one of the cheapest suburbs to buy a unit in Sydney, with promising investment potential.

In the City of Fairfield, Canley Vale embodies cultural diversity and a vibrant, family-friendly lifestyle. Located 30 kilometers west of Sydney’s CBD and well-connected by train services, Canley Vale boasts a median unit price of $410,000, reflecting a rise of +4.7 percent over the past five years. Median unit rents have also witnessed growth, increasing by +8.9 percent over the last year to reach $410, according to CoreLogic data.

This suburb offers a conducive environment for both investment and living, making it one of the cheapest suburbs to buy a unit in Sydney. Canley may one of the cheapest suburbs to buy a unit in Sydney to invest in your property.

Situated southwest of Sydney’s CBD, Cabramatta is renowned for its vibrant food scene. Despite experiencing a -2.1 percent decrease in prices over the past five years, Cabramatta presents potential buyers with an opportunity, with a median unit price of $420,000. As the second cheapest Sydney suburb for renters, according to CoreLogic, Cabramatta boasts a median unit rent of $400, reflecting a notable +10.7 percent increase over the past year, with a vacancy rate of 0.3 percent.

This suburb offers a blend of affordability and cultural richness, making it an appealing choice for both investors and residents. Cabramatta is one of the cheapest suburbs to buy a unit in Sydney.

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