PRD Chief Economist Dr Asti Mardiasmo said regional locations as a whole tick a lot of boxes for home buyers and investors – especially if you are a first time investor. Source: PRD Roaring Regions: Top 10 Affordable Regional Areas 2023 Report.
The lower median house price on offer across regional locations has benefited home loan affordability, with PRD detailing Queensland recorded an index of 24.5 points, proving it to be the friendliest state for buyers currently above the Australian average. To determine which regional locations made the cut, locations are based upon five eligibility criteria including affordability, property trends, investment, project development and unemployment rate.įurther, all 10 regions identified by PRD have a median house price of under $600,000 to December 2022, approximately 30% lower than Melbourne and around half of Sydney’s median house price. PRD’s Roaring Regions report has identified the 10 most affordable regional locations across the nation for those looking to achieve the great Australian dream of home ownership beyond metro and capital cities.
