Western Australia boasts seven of the 10 most affordable suburbs across the capital cities for borrowers to live in, according to new research by comparison website finder.com.au.
The study compared 4,675 Australian suburbs by borrowers’ average amount of income remaining after annual mortgage repayments, based on data from online property portal Onthehouse.com.au and the Australian Tax Office.
Brentwood in WA was the most affordable capital city suburb with $75,398 of borrowers’ income remaining, while Willagee and Cottesloe – also located in WA – finished second and third with $70,191 and $69,412 of income remaining respectively.
Queensland’s Kenmore came in fourth with $69,272 of remaining income, while WA’s North Dandalup came fifth with $68,745, South Australia’s Vale Park came sixth ($66,819), North Fremantle in WA finished in seventh place ($66,756).
Chapel Hill in Queensland came eighth with $65,330 of remaining income, while WA’s Ardross and West Perth rounded out the top 10 with $64,513 and $62,888 respectively.
Looking at Australia’s regional suburbs, St Andrews in Victoria claimed top spot with $128,196 of remaining income, followed by Moranbah in Queensland ($90,162).
WA’s Dampier ($88,027), Millars Well ($86,973) and Bulgarra ($86,125) finished in third, fourth and fifth respectively, while Blackwater in Queensland came sixth with $86,038, and Nickol in WA came seventh with $85,942.
Roxby Downs in South Australia finished eighth with $85,910 of remaining income, while Pegs Creek ($84,773) in WA and Dysart ($82,584) in Queensland claimed the final two spots in the top 10.