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How to Buy a House for Less: Sister Suburbs Strategy for Savvy First Home Buyers
127 Plays12 days ago
Think you're priced out of your dream suburb? This episode of Buying Your First Home uncovers the power of “sister suburbs”—lesser-known areas with similar perks but much friendlier price tags. Host Hunter Gallo breaks down city-by-city comparisons in Brisbane, Sydney, and Melbourne, revealing how smart buyers can save up to $2 million by shifting their search just a few kilometres away.
Stop guessing about your buying power! Get a FREE personalised home buying assessment with Hunter Galloway. Call 1300 088 065 or visit huntergalloway.com.au
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Transcript
Price Disparities in Brisbane Suburbs
00:00:00
Speaker
If trying to buy your dream home in Brisbane, Melbourne, or Sydney and feel priced out of your dream suburb, then this is for you. Check out this Brisbane loophole. Chandler is forty in case from the Brisbane CBD. The median house price is $2.87 million. Kapalabar 17 kilometers from the CBD. price but nearly $1.98 million cheaper.
Melbourne and Sydney Suburb Price Differences
00:00:18
Speaker
so you can be three kilometres further away from the city but be nearly one point nine eight million dollars cheaper Why does a house in Melbourne, 10Ks east of the CBD, cost around 3.1 million, while one 10km west is closer to 950,000?
00:00:31
Speaker
It's a similar situation in Sydney if you compare Fairlight and Arncliffe. Alright, one's on the beach, but there's a 96% difference in price though, and you're a similar distance from the city. So if you're seeing prices soar in your current suburb and thinking you're never going crack the market, it's okay.
Navigating the Australian Housing Market
00:00:45
Speaker
There's a solution, sister suburbs. um to show you how this works city by city. Welcome to the Buying Your First Home podcast, your personal guide through the Australian housing market. Here we tackle the big questions and the small details that come up when buying your first home.
Understanding Sister Suburbs
00:01:01
Speaker
From financial prep to finding the right neighbourhood, we're here to ensure that you've got all the knowledge at your fingertips. So let's take the first step towards unlocking the door to your new home.
00:01:16
Speaker
What are sister suburbs? Sister suburbs are basically the under-the-radar cousins of famous suburbs. They share pretty much the same features, same distance as CBD, similar basic amenities, but come with a much friendlier price tag.
00:01:28
Speaker
The only thing is they don't have the same built-in prestigious reputation as some of their bigger brother suburbs. And this is where you can save big money. You can think of them as less famous but equally well-located neighbors. They share the same core location, but due to various factors which we'll get into, you can buy them for potentially hundreds of thousands dollars less, even in some cases millions.
00:01:46
Speaker
Now, why is this such a
Factors Influencing Suburb Value
00:01:47
Speaker
smart move? Because it's all about strategic property buying. It's all about recognizing that the traditional approach, like mom and dad probably did, just targeting the most hype suburbs isn't always the smartest move, especially in today's market.
00:01:58
Speaker
What if you could find a location without automatically paying top dollar? This is where Sister Suburbs concept really comes alive. Basically, it's a more refined approach to location analysis. We all want to be close to the city, you know near urban centers, but with escalating prices, pushing people further and further out, the strategy becomes key.
00:02:16
Speaker
Sister Suburbs offer a strategic alternative. They allow you to stay close to where you want to be, but at a much lower price point. The key here is understanding that suburb value isn't solely determined by distance from the CBD.
Brisbane's Sister Suburb Advantages
00:02:28
Speaker
It's obviously more complex by that, influenced by a range of factors. Consider these elements that contribute to different price amounts. Firstly, housing mix. The prevalence of apartments versus detached housing impacts overall suburb levels.
00:02:39
Speaker
Local amenities and infrastructure. Access to retail precincts, dining options, and green spaces also influence property values. Being near the beach, parks, or having a really nice view is obviously going to come for a premium. And educational catchments.
00:02:51
Speaker
Known popular and large schools can be a big driver for family buyers. And lastly, connectivity. Efficient public transport and road networks really help out the commute times. But sister suburbs, that's where you're going to find the sweet spot.
00:03:02
Speaker
You're going still be getting that core locational advantage, similar commute times, you're in the same general area, but you're strategically avoiding that inflated prestige headline of that suburb.
Robertson vs. Banyo: Lifestyle and Price
00:03:11
Speaker
Alright, so let's talk about Brisbane because honestly, Brisbane is, I guess, the sister suburb city to Sydney and Melbourne.
00:03:18
Speaker
But as a city, the sister suburb concept really comes alive in Brisbane. In Brisbane, it's not just about saving money, although you you definitely can. It's about making a lifestyle change and finding incredible value at the same time. You can actually dial in whatever Brisbane law lifestyle you want. You can have the Acreous Dream, Suburban Convenience, Village Charm, and find a sister suburb that delivers without that crazy price tag of having the brand name version.
00:03:39
Speaker
But it is about being strategic and finding the right suburb for you and your needs. Let me break down a couple of great examples show you exactly what I mean. Robinson versus Banyo. Now, I know Banyo means toilet in Spanish, but it's an actual suburb in Brisbane. It's actually not It's pretty close to the airport. um But think of it as comparing prestige leafy living versus village convenience.
00:03:58
Speaker
Both Banyo and Robinson are about 11 kilometers from the city. The commute's pretty similar, but they're completely different suburbs. Robertson is leafy streets, established suburb, big blocks, architecturally designed homes.
00:04:10
Speaker
it's It's pretty prestigious. It's really nice. Great schools, quiet streets. It's your classic Brisbane upsell family vibe. And because of that, the median house price is over $2 million. Now, Banyo, same distance, but totally different feel.
00:04:23
Speaker
Imagine a friendly village vibe, local shops, cafes where people actually chat. There's going on, but it's also a bit more relaxed. Banyo's also got a train station straight to the city and you're practically at the airport. So it's massive plus for anyone that travels a lot. It's definitely more community focused. There's less fancy homes, more easy living. And also as a result, the median house price in Banyo is only $985,000.
00:04:42
Speaker
That's 104% price difference. It's like over a million dollars saved for basically the same distance of the city. Now, obviously, Robinson has a prestige factor and Banyan has different sort of lifestyle, but also you're saving
Chandler vs. Capalabar: Acreage vs. Suburban Living
00:04:54
Speaker
on the money there. So that's where you need to consider these things and what's more important for your family.
00:04:58
Speaker
Next up, let's talk about Chandler versus Capalabar. And this one's all about land size. Chandler, acreage living, pure Brisbane lifestyle. Medium block is two and a half acres, even sometimes way bigger. It's all about sprawling assates, room to breathe, maybe a house or two in the back paddock, luxury, semi-rural dream living close to the city. But the median house price, $2.8 million. dollars Then you've got Copalabar right next door.
00:05:19
Speaker
Classic, solid suburban Brisbane. Family-friendly streets, parks, schools, shopping centers, all the normal stuff. Standard block size is nothing huge, but the median house price in Copalabar $887,000. That's $1.9 million 224% difference.
00:05:30
Speaker
that's a one point nine million dollar gap two hundred and twenty four percent different You could literally buy three houses in Kapalabar for what you pay for one in Chandler. If you need that amazing sprawling land, Chandler's amazing, but like not many first home are going to have that sort of budget. Plus Kapalabar gets the same general area for a third of the price.
00:05:46
Speaker
And I guess for that small mortgage, you can have a better lifestyle. So you get what i mean, right? It's definitely about lifestyle driven buying and potentially looking at what's more important for you and your family.
Strategic Buying in Sydney's Sister Suburbs
00:05:55
Speaker
These are obviously extreme examples, but if you live in a certain area, don't be afraid to look a little bit further out or in Brisbane, potentially look on the other side of town because there can be a bunch of other opportunities in a better price point for the same sort of property. All right, Sydney, let's dive into some sister suburbs here um because Sydney is a classic case of pretty crazy prices, right? but the thing is you can crack the Sydney market if you're smart about it. It's it's kind of about understanding Sydney and a lot of the price is tied up in the prestige in that Sydney Harbour View, obviously.
00:06:23
Speaker
But if you're willing to look a little bit beyond the obvious hotspots, then you can find suburbs that can give you a ton of the Sydney lifestyle without that insane multi-millionaire price tag. Now, again, I'm looking specifically at suburbs that are you similar distance to the city. So I assume you're probably working out of the city.
00:06:38
Speaker
But there's definitely hundreds, maybe millions of dollars in difference in some of these prices. Arncliffe versus Fairlight. This is a classic Sydney showdown. There's sort of Northern Beaches prestige versus South and Suburbs Bayside view. But the crazy thing is they're both 10Ks from the city. Fairlight's one of those iconic Northern Beaches, Manly Ferry, Sydney Beaches, laid back vibe, that sort of thing.
00:06:58
Speaker
it's It's a Sydney dream. There are crazy hyper views, but you're going to pay for that postcode. Arncliffe is a totally different vibe. It's Sydney South right near the airport, but hear me out. Like it's got a pretty good up and coming vibe. Heaps cool cafes and shops, restaurants, and it's on the edge of Botany Bay.
00:07:11
Speaker
um It's obviously not the beach, but you got the water views, there's parks, and it's it's pretty amazing. Really close to the city. But again, this is illustrative. Let's talk prices because this is the idea. And this is people get really caught up.
00:07:22
Speaker
The median house price in Fairlight $3.4 million. yeah but but If you can afford it, it's amazing. But Arlencliffe, it's closer to $1.7 million. dollars So it's 96% cheaper.
00:07:34
Speaker
You could save $1.7 million dollars by living the same distance as the city and not paying that beachside premium. Now could say beachside dreaming is your absolute goal and that's fine. But again, the point is maybe it's not Fairview. It's the suburb along and the sister suburb to that if you're looking for that Northern Beaches vibe.
00:07:49
Speaker
All right, staying in Sydney, let's check out the Inner West, Strathfield versus Enfield. These are practically neighbours, they're Inner West rivals. Both are around 12 to 13 kilometres from the CBD. Strathfield has a really interesting mix. Like it's got a bunch of those huge federation houses, some and massive blocks, really nice schools.
00:08:04
Speaker
It's got a pretty cool trophy suburb feel and the price tags similar match. Enfield is literally minutes away. it's It's definitely a bit of a hidden and gem. It's still Inner West, still leafy, got still good access to everything, but house a bit smaller, blocks bit more modest and maybe not quite as mansion-y.
00:08:20
Speaker
But looking at the price check, Strathfield's Inner West Trophy Homes, the median house price is $3.8 million. dollars Enfield, on the other hand, is only $2.3 million. That's a 68% difference for suburbs that are just a stone's throw away.
00:08:32
Speaker
And that's the point of these sister suburbs. You could be living in Enfield, you still get access to all schools in Strathfield, but you're getting quite a big discount there to not pay for the Strathfield postcode. So Sydney's sister suburbs, they all about understanding where the real value lies.
00:08:44
Speaker
I mean, if you definitely want to stay at the beaches, that's fine. You can still stay on the Northern beach, but you could look further along like DY, keep going North kind of thing to try and avoid those higher prices. But there's also opportunity if you're moving to Sydney and trying to be within that proximity of the city um to to get a bit of both lifestyle. And in in the West, the same thing. You can look the next suburb along and potentially get much more value for your money without having to sacrifice your
Melbourne's Price Extremes: Canterbury vs. Altona North
00:09:05
Speaker
lifestyle.
00:09:05
Speaker
Alright, Melbourne time. Get ready for some serious sister suburb action. Sounds weird. But ah Melbourne is definitely yeah another interesting case study where the prices are still... like The differences is insane.
00:09:17
Speaker
Melbourne's crazy with certain suburbs because you can be literally next door to a suburb where you need to sell your first one to afford a home, then boom, like hop across an invisible line, same distance as the city, and suddenly it's way cheaper.
00:09:29
Speaker
It's always not that obvious too. It's just... Melbourne market dynamics. So for smart buyers, this is going to be pure gold. We're going to unpack the most mind-blowing Melbourne sister suburbs and work out where the value potentially lies.
00:09:41
Speaker
right, Melbourne, let's start with a big one. The most extreme sister suburb price gap in the whole city, Canterbury versus North Altona. This is East versus West. I know like people get really uppity about that, but also just looking at fundamentally, both the 10 kilometers from the city, 10 Ks, which is pretty much where all the similarities end though.
00:09:59
Speaker
Canterbury, think of it as like a blue chip Eastern suburb, great period homes, massive gardens, leafy streets, super nice private schools. This is Melbourne prestige, pure and simple. It's got that quite expensive vibe.
00:10:10
Speaker
Altona North, just 10Ks away in the West, totally different story. It's up and coming. It's cool. It's attracting young families. It's still got that more down to earth feel, less polished. And it's got great perks. It's near Altona Beach.
00:10:22
Speaker
It's getting a lot of cafes, but definitely not Canterbury. But again, you're not paying that Canterbury price. For the Eastern Suburb Prestige, you're paying $3.1 million dollars for the median house price. Altona North is way lower, $950,000.
00:10:35
Speaker
That's a 227% price difference, $2.1 million. dollars You could buy three houses in Alto North for the price of one in Canterbury. Now there's heaps more examples in Melbourne, but I think the point is it's all about understanding Melbourne's sort of property tribes, east, west, north, south sort of situation, and realizing that those invisible lines across the city can make absolutely massive difference to your savings and what you're going to pay for your home.
00:10:56
Speaker
Try and be more strategic with what your search is. You may need to look further out from the suburbs you grew up in or you're familiar with to look at some amazing value.
Finding Sister Suburbs: A Strategic Approach
00:11:04
Speaker
Here's your action plan. All right, so you're convinced, right? Sister suburbs is a smart way to do it, but how to actually find them in your city.
00:11:09
Speaker
sorry it's It's definitely not hard. So I'm going to show you how to do it step by step. Step one is define your distance or pick your community radius. First up, you want to decide how far realistically from the CBD you're willing to live. You want to be honest with yourself with your commuter tolerance, like 10, 15 Ks.
00:11:25
Speaker
Draw a bit of a circle around the city that you're looking at. That's your starting zone. Step two is check different directions. Don't just focus on one side of the city. It's a pretty common state that... like 95% of people do, look at suburbs in your distance radius in different parts of town.
00:11:38
Speaker
I'm talking east, west, north, south, you get it. This is where those price discrepancies start to appear. Cities very rarely are priced evenly in all directions. Next step is to hunt for price gaps.
00:11:49
Speaker
Now you need to jump into the price data. Jump online, check out real estate websites, look at median house prices in the suburbs that you're looking at and try and hunt for those gaps. Look for the suburbs at similar distances but with big price differences.
00:12:01
Speaker
That's where the sister suburb magic is hiding. Step four, compare suburb vibes. Now you want to compare the lifestyle factors. This is a critical one. Once you've found the price gaps, dig deeper. Look at what kind of vibe the suburb has versus the pricey one.
00:12:13
Speaker
amenities, schools, perks, transfers. What are you looking for? You can use tools like WalkScore to check this out and sort of see what's around in the immediate area. if there's lots of cafes, beaches, that sort of thing, rather than sort of trolling through Google Maps.
00:12:24
Speaker
Step five is get the inside scoop. Finally, you can start making some calls. I know it sounds scary, but it can be worth getting on the ground. If you're completely unfamiliar with that suburb, go talk to some local agents, get to know some people suburbs, go to the cafes, speak to your owners, how's this area like? I'm just new. Tell me about it.
00:12:39
Speaker
They'll give you the inside scoop. They'll say, oh, you This place has been robbed five times. Okay, that's a bit scary. Check out the police stats. Or they'll say, oh it's amazing. Like heaps of good families, lovely people in the area. it's It's just a good way to get an anecdotal, but true representation of what the suburb is like.
00:12:53
Speaker
And
Conclusion and Assistance from Hunter Gallo
00:12:54
Speaker
that's it. That's five simple steps. You can find the sister suburbs. You can help beat your frustration from getting priced out of areas that you are currently in and find new unhookable gems. By exploring sister suburbs, you can unlock massive savings, even millions depending on the suburbs, but without compromising your commute times or lifestyle.
00:13:10
Speaker
You can buy at that similar distance for way less. So start researching, look at those slightly less famous neighbors, you know the next train stop over and your dream home might be a lot closer what you think. Thanks so much guys. I'm Hunter Gallo with a home for home buyers across Australia. We help people in all the around Australia, not just Sydney, Melbourne, Brisbane, Perth, Adelaide, NT. Got some gu clients up there too. So yeah if you need any help, hit us up at huntergalloy.com.au. And until next time, I'll see you later.