The most and least expensive land price per sqm suburbs

BUYERS will still find the best value for money in price per square metre when looking away from coastal and inner-city locations.

According to recent price per square metre (sqm) analysis by Domain, buyers are more than willing spend a premium to live close to a major CBD or the coast, instead spending less for more by living further out or even in a suburb with a less sparkling reputation.

“Looking at our more expensive cities Sydney and Melbourne we can see that moving further out from the inner city, generally block sizes get larger and come with a cheaper per square metre price tag,” said Nicola Powell, chief of research and economics at Domain.

“However this isn’t always the case as key infrastructure, commercial hubs and proximity to parks and beaches all play a role.”

In the country’s most populous cities moving west of the CBD sees lower house prices paired with bigger block sizes.

In Sydney, suburbs like Guildford, Chester Hill and Sefton sit 19km out from the city centre and are priced at $1,800/sqm.

While moving 38km out from the Sydney CBD to Mount Druitt sees rates decline to less than $1,300/sqm, with major commercial hubs like Parramatta and Macquarie Park sitting close by and a good indicator for future suburb value growth.

In Melbourne, suburbs just 13km out from the CBD including Brooklyn, Sunshine and Sunshine North are less than half the price of their neighbouring Maidstone, Yarraville and Braybrook.

“Buying in neighbouring suburbs that have vastly different prices per sqm now can also pay huge dividends in the future. As reputations change, areas gentrify and as cities grow, location becomes king,” said Powell.

In the north, suburbs such as Broadmeadows, Gladstone Park and Campbellfield also come well under Melbourne’s $1,811/sqm average at $1,811/sqm.

With a median block size of 125sqm, Sydney’s Paddington came in as the city’s most expensive at $25,755/sqm, also taking the top spot in the country.

The top 5 most expensive land price per square metre suburbs in each city

Sydney

Melbourne

Brisbane

Adelaide

Perth

Canberra

Hobart

Darwin

In fact, Sydney’s top five most expensive suburbs per sqm all coming in over $20,000/sqm and making up the national top five. With Tamarama taking the number two spot, followed by Darlinghurst, Edgecliff and McMahons Point.

While Sydney’s cheapest price per sqm suburb was Canterbury, with a median block size of 453sqm and price of $3,199.

In Melbourne, the most expensive suburb was Albert Park, with a median block size of 153sqm priced at $13,915/sqm. Bellfield, with a median block size of 328sqm was the most affordable at $2,622/sqm.

Petrie Terrace was the most expensive for Brisbane, with a median block size of 230sqm, priced at $5,515/sqm. Rocklea was the cheapest with a block size of 627sqm, priced at $702/sqm.

In Adelaide, Kent Town is the most expensive, with a median 75sqm block size for $8,937/sqm. With Teringie at the other end, with a block size of 2,101sqm, priced at $666/sqm.

For Perth, the most expensive suburb was Crawley, with a median block size of 188sqm priced at $6,314/sqm. Cloverdale, with a median block size of 469sqm was the most affordable at $930/sqm.

Crace was the most expensive suburb per sqm in Canberra, with a median block size of 293sqm and a price of $3,392/sqm.

Battery Point was the most expensive for Hobart, with a median block size of 214sqm, priced at $6,599/sqm. Clarendon Vale was the cheapest with a block size of 693sqm, priced at $672/sqm.

Finally, with a median block size of 324sqm, The Gardens in Hobart was the most expensive at $2,016/sqm. With the cheapest being Berrimah, with a block size of 441sqm, priced at $557/sqm.

The top 5 cheapest price per square metre suburbs within an uber ride (10km) of each city

Sydney

Melbourne

Brisbane

Adelaide

Perth

Hobart

Darwin