23 suburbs where one train stop makes houses much cheaper

House hunters could save hundreds of thousands of dollars by looking in suburbs just one train stop further from the city.

Analysis of PropTrack data shows that there are dozens of suburbs of the capitals where buyers travelling to the next station could find significantly cheaper houses.

In some cases, house hunters who search in a neighbouring suburb could yield seven-figure savings while only adding a few minutes to their commute.

Along most train lines, house prices tend to be cheaper the further the suburb is from the city, REA Group senior economist

Eleanor Creagh^[1] said.

“Generally, suburbs further down a train line tend to be more affordable because they sit further from the cities’ major employment and lifestyle hubs,” she said. “That extra distance and travel time translates into lower land values.”

It’s not a clear-cut trend though, with some trains terminating in high-value suburbs.

“There are many nuances where desirable schools, beaches or a suburbs lifestyle amenity and character can provide exceptions,” Ms Creagh said.

In a few suburbs that are just separated one station, the price paid for a typical property can be more than $1 million apart.

The biggest differences between adjacent suburbs tended to be found in some of the priciest regions of each city, such as Melbourne’s east and Sydney’s north shore.

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Commuters who buy a home in the Melbourne suburb of Caulfield^[2] could save more than $1.1 million compared with the next-closest stop to the city, Malvern^[3], based on median house prices in the two suburbs.

A typical house in Caulfield costs $1.87 million, compared with $2.99 million in Malvern.

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Homes are more than $1 million cheaper in Caulfield than in Malvern, the next stop on the train line. Picture: realestate.com.au/buy

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Real estate agent and Gary Peer director Leon Gouzenfiter^[4] said Caulfield and Caulfield North were much more affordable than Malvern, where buyers were often willing to pay more for the suburb’s perceived prestige.

“It does seem to be a lot better value,” he said. “Once you cross Dandenong Road into Malvern, Armadale and South Yarra, there is a significant increase in price.”

Box Hill^[5] buyers will save $923,500 compared with those looking one stop closer to the city in Mont Albert^[6].

Meanwhile, Heidelberg^[7] buyers could save $887,500 compared with those looking in Eaglemont^[8].

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In Sydney, the biggest saving was in Como^[9] in Sydney’s south, where buyers looking at a median-priced house would pay $747,500 less than those looking in Oatley^[10]. 

Como and Oatley are just three minutes apart on train line, but the suburbs are divided by the Georges River, which separates the Sutherland Shire from the rest of Sydney.

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Houses in Como are almost $750,000 cheaper than Oatley, which is just one train closer to the city. Picture: Getty

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Real estate agent and Fox & Wood director Jed Wood^[11] said Oatley and Como shared similarities, including a riverfront position with plenty of parks and greenery, but the latter’s affordability was drawing more buyers across the river.

“Como has that little bit of seclusion,” he said. “It’s very much a family-oriented area.”

“It’s well and truly popular with buyers, particularly when they identify that it’s only one stop away on the train line.”

The Shire also proves that prices don’t always become more affordable the further buyers travel from the city centre.

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Cronulla is one of the priciest suburbs in the Sutherland Shire, even though it’s the stop furthest from the city – its median house price is about $1 million higher than in neighbouring Woolooware. Picture: Getty

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Suburbs along the Cronulla branch line are typically more expensive closer to the beach, even though this results in a longer train trip to the city.

“Prestige enclaves or lifestyle destinations at the end of the line can command a premium where amenity, coastal proximity or scarcity outweigh the distance factor,” Ms Creagh said.

Elsewhere in Sydney, big price differences exist between neighbouring suburbs on the north shore, with Turramurra^[12] buyers saving $492,000 compared with Pymble^[13], and Chatswood^[14] buyers saving $410,000 compared with Artarmon^[15].

It’s $300,000 cheaper to buy a house in Ashfield^[16] in the inner west, where the median house price is $2.2 million, compared with Summer Hill^[17] where a typical house sells for $2.5 million.

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In Perth, adjacent suburbs Cottesloe^[18] and Mosman Park^[19] had median house prices separated by $662,500.

Cottesloe is Perth’s second-priciest suburb with a median house price of $3.06 million, while Mosman Park is the seventh-most expensive in the city with a $2.4 million median.

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There can be a half a million dollar difference between some Perth suburbs separated by just one train stop. Picture: Getty

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Big differences were also found between Mount Lawley^[20] and Maylands^[21] ($470,000), Stirling^[22] and Warwick^[23] ($457,500) and North Fremantle^[24] and Fremantle^[25] ($238,750).

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Brisbane buyers could save $502,000 by buying in Corinda^[26] instead of Sherwood^[27], $362,500 by buying in Murarrie^[28] instead of Cannon Hill^[29], or $350,000 by searching in Lota^[30] instead of Manly^[31].

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Buyers in Corinda in Brisbane can save half a million dollars compared to neighbouring Sherwood, while only adding a few minutes on their commute. Picture: realestate.com.au/sold

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There were fewer examples of significant price savings between adjacent suburbs on the same train line in Adelaide than in the larger capitals. 

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Adelaide is less reliant on public transport than the larger capitals, and many suburbs on the city’s western train lines are closer to the beach, which can increase property values despite a longer train trip to the city.