New data has revealed the surprising suburbs in every state where Aussies can get their hands on a home for the same price they would have paid in 2013.
Units and houses in several suburbs in Australia have remained at similar median prices over the past 10 years, largely due to more accommodation availability.
PropTrack research shows that the median unit price in Regents Park, 22 km from Sydney’s CBD, has increased by 14 percent since 2013 to $383,500.
Similarly, median unit prices in North Ryde, in northern Sydney, are up just two percent to $745,000.
Meanwhile, the average price of a unit in Greater Sydney has increased by 54 percent to $787,000 compared to the 2013 price.
Median unit prices in several Sydney suburbs, including North Ryde and Regents Park, have remained flat since 2013 (pictured, home for sale in North Ryde)
Experts contributed stability from median prices in Regents Park to an oversupply of available real estate (pictured, building with units for sale in Regents Park)
The price is even higher for those looking to purchase a detached home that cost an average of $615,000 in 2013 but now costs $1.3 million.
PropTrack economist Angus Moore said the stable market in specific suburbs is attributed to a large number of high-rises being built in the early 2010s, meaning there’s plenty of real estate to go around.
“Prices would be more affordable, which could be attractive to some buyers,” he told the newspaper Daily telegram.
“The affordability actually shows what would be possible if they built more homes in other areas.”
Outside of the city, several mining, rural and flood-affected cities have maintained similar prices over the past 10 years.
Deniliquin, a small town near Echucha on the NSW-Victoria border, was hit hard by flooding during the 2022 weather record event.
The devastation has caused the median price in the city to drop to the same price as in 2013 with units at $146,500.
The median house price in Cobar, a mining town in central NSW, has fallen by four percent since 2013 to $200,000.
In 2013, the median price for an apartment in St Kilda was $470,000, increasing by just seven percent to $502,725 in 2023 (pictured, house for sale in St Kilda)
Several areas around Melbourne have remained surprisingly stable over the past 10 years, with the average price of a unit in the city itself rising by just five percent to $520,000.
Carlton, a suburb north of the city’s CBD, has seen the median price of units drop five percent to $436,000, while nearby Abbotsford is down 12 percent to $525,000.
The largest drop in median unit prices in the state was recorded in Travancore, just 6 km north of the CBD.
In 2013, the median price for a unit in Travancore was $501,250, but it has dropped an incredible 33 percent to just $338,000 by 2023.
Several Melbourne residents attribute the stability of the suburb to it being largely forgotten in favor of other trendy suburbs.
Another surprising suburb where the median unit price has remained largely the same is St Kilda.
In 2013, the median price for a unit was $470,000. By 2023, the median price had increased by just seven percent to $502,725.
Known as Brisbane CBD’s entertainment district, Fortitude Valley has seen a four percent drop in median unit prices since 2013 (pictured, bedroom of a unit for sale in Fortitude Valley)
The median cost of a condo in Airlie Beach rose just six percent to $440,000, though median home prices continue to rise (pictured, home for sale in Airlie Beach)
The property market in Brisbane has picked up considerably, but there are still a few suburbs where prices have not increased much.
Known as Brisbane CBD’s entertainment district, Fortitude Valley has seen a dip in median unit prices since 2013.
Units in the suburb cost an average price of $420,000 ten years ago and now sit at $401,500.
The median price of a unit in Stafford, 12 km north of the CBD, has increased just 7 percent since 2013 to $441,500.
Mr Moore said the consistency of prices in different Brisbane and Melbourne suburbs is also due to an oversupply of available real estate.
“House prices tend to grow much faster than unit prices,” he said.
“This was especially true during the pandemic and (lockdowns) when people preferred larger properties.”
The largest real estate market falls in Queensland when comparing 2013 to 2023, by far in the Gladstone region (photo, kitchen of house for sale in Gladstone)
The median price for a unit in Glandore increased 10 percent to $345,000 (pictured, unit for sale in Glandore)
Median prices have remained most constant in Queensland’s regional areas – including along the Whitsundays coast, with the median cost of a unit in Airlie Beach rising just six per cent to $440,000.
The largest real estate market falls in the state when comparing 2013 to 2023, by far in the Gladstone region.
In 2013, the median price of a unit in Gladstone Central was $472,500 but was down 51 percent compared to 2023 with the median price now $230,000.
In 2013, the median price of a unit in Gladstone Central was $472,500, but was down 51 percent compared to 2023, with the median price now $230,000.
Similar declines can be seen in the city’s coastal areas, where home prices in Barney Point are down 25 percent.
Several rural areas around Queensland have also experienced sharp median price declines.
Units in Emerald, 170 miles west of Rockhampton, fell 43 percent to $200,000 and homes in outback hub Longreach fell 12 percent to $225,000.
The median price for a unit in Glandore is $345,000 (pictured, home for sale in Glandore)
The most stable suburbs in South Australia are mostly outside Adelaide, but a few significant suburbs have kept the city affordable.
The median price of a unit in Edwardstown, 5 miles south of Adelaide’s CBD, is up just 10 percent to $280,000, while nearby Glandore is also up 10 percent to $345,000.
Unit prices in south Adelaide’s Hackham saw the second largest drop in the entire state with the median in 2013 at $229,500, while the median fell 35 percent to $150,000 in 2023.