First home buyers might be able to break into the housing market without breaking the bank after a west Sydney suburb was dubbed the most affordable in the country.
A financial consulting website has done the maths and listed Liverpool as the best suburb to buy a house in Australia.
Risk, price and best value were evaluated as Mozo determined the best buys under $600,000 that will still increase in value in the future, according to 7 News.
A financial consulting website has done the maths and listed Liverpool (pictured) as the best suburb to buy a house in Australia
Risk, price and best value were evaluated as Mozo determined the best buys under $600,000 that will still increase in value in the future (stock image)
Low vacancy rates, upward property price movements and low supply of properties were some of the features assessed by the financial consultancy.
Tewantin, near Noosa in Queensland, and Scullin, near Canberra and Sunbury, in Melbourne, also topped the list.
Trevallyn, near Launceston in Tasmania, Brooklyn Park, which is five kilometre’s from Adelaide CBD and Madeley, Perth, also made the list of best suburbs to buy a house.
Highlights of the suburbs included good public transport, close to schools, universities and hospitals as well as having a potential for growth, according to Mozo property expert Steve Jovceski.
Tewantin, near Noosa in Queensland, and Scullin, near Canberra and Sunbury, in Melbourne, also topped the list (stock image)
People buying investments are also becoming quite popular, with one in three houses bought for a renting purpose.
The list comes amid the large numbers of derelict houses being sold for millions across Sydney suburbs.
Many worn out and rotting houses are being auctioned off with starting prices of $1 million as they are branded as a great way for first home buyers to crack into the competitive housing market.