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Bankstown best for affordable housing
Released 3 March 2011

Potential home buyers looking to avoid Sydney’s crippling property prices should start looking in the Bankstown Local Government Area, according to new research by PRDnationwide.   

The research, based on homes worth $500,000 or less, found that more than half of Sydney’s top 10 most affordable suburbs within a 20km radius of the CBD were situated in the Bankstown LGA, with Yagoona, Auburn and Chester Hill the cheapest.

There were 375 houses in the Bankstown LGA that recorded transactions of below $500,000 in the September 2010 half year period.

“The top 10 suburbs which recorded the highest house activity below $500,000 are supported by road transport links to the growing business centres of Parramatta and Bankstown,” says Oded Reuveni Etzioni, PRDnationwide NSW Research Analyst.

But the low prices may not last, with the number of house transactions below $500,000 decreasing dramatically since 2000.