These are Sydney's most affordable and liveable suburbs in 2024

Despite the fact that Sydney’s housing market is the second-most unaffordable in the world, the stats say buying a home doesn't need to be a pipe dream – as long as you're willing to be open-minded about where that home is. Sydney's median house price might hover around a hefty $1.5 million these days ($1,478,925 – if we’re being precise), but believe it or not, there are still suburbs around that offer the sought-after combo of affordability and liveability. 

PRD Real Estate's latest Affordable and Liveable Property Guide is out, based on data from the latter half of 2024, and chief economist Diaswati Mardiasmo has flagged Sydney's best areas for affordable homes for young and first-time buyers. Sydney is still the most expensive city to buy a home in Australia, but there is a glimmer of hope if you look in the right places.

So, which suburbs in Sydney are worth checking out?

1. Merrylands
   
   Merrylands – the Western Sydney suburb with quite possibly the cutest name – ranked as the most affordable and liveable suburb in Sydney (for house-buyers) in 2024, with the median house price here sitting at $1,250,000. That’s still more than the median house price in the whole of Brisbane (where the median house price is a cool one million) and a lot more than in Hobart (with a median house price of $702,000), but still, it’s a whole lot cheaper than Sydney’s eastern and coastal suburbs. Plus, it’s within striking distance of Parramatta – just 20 minutes by bus. 
   
   
2. Bankstown
   
   The south-west Sydney foodie haven of Bankstown ranked second on the list, with the median house price here sitting at $1,300,500. This Western Sydney 'burb will soon be connected directly to the CBD by the extension of the Sydney Metro – so if you’re looking to buy here, it’s worth getting in quick before prices skyrocket. Despite ranking in second place on the list of the most affordable and liveable places suburbs for house-buyers in 2024, Bankstown didn’t rank among the top three suburbs for unit-buyers – with a relatively limited supply of units compared with larger homes.
   
   
3. Granville
   
   Another Western Sydney suburb, Granville, ranked at number three on the list of Sydney’s most affordable and liveable suburbs for people looking to buy a house. Here, median house prices sit at $1,123,000 – almost $356,000 lower than the city’s average. Granville out-ranked all other Sydney suburbs on the list of the most affordable and liveable suburbs for units, with average unit prices here sitting at $542,000.
   
   
4. Parramatta
   
   Sydney’s second-biggest CBD came in third place on the list of the most affordable and liveable suburbs for units, with the median price and accessibility making this a great place to call home. The bustling 'burb didn’t rank in the top suburbs for houses, with the majority of properties on the market here being units.

The report also listed the most affordable/liveable suburbs in each other region of Sydney (inner, northern, southern and eastern) – see details on these by reading on.

Here are the most affordable and liveable suburbs in Sydney for 2024, according to PRD Real Estate's latest Affordable and Liveable Property Guide: 

For houses:

1. Merrylands
2. Bankstown 
3. Granville
   

For units:

1. Granville
2. Merrylands
3. Parramatta

Inner Sydney: Darlinghurst and Barangaroo
Northern Sydney: Naremburn and Denistone
South Sydney: Banksia and Turrella
East Sydney: Double Bay and Kingsford

You can discover more about Australia's most affordable and liveable properties by downloading the PRD guide here.

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