The mining town of Emerald is the second most affordable place in Queensland for renting or purchasing a home, according to an analysis of property data by Suburbtrends.
Its founder, Kent Lardner, said the study assessed affordability by comparing median household income levels against housing costs, providing a nuanced picture of real-world affordability.
Surburbtrends found that this approach resulted in an unexpected list of suburbs, including upscale suburbs.
The prestigious Brisbane suburb Bardon takes out first place among the top ten most affordable in Queensland.
Seven of the places listed by Suburbtrends are in Brisbane, while one, Idalia, is in Townsville, another, Redlynch, is in Cairns.
Mr Lardner said the analysis was good news and stressed the importance of affordable housing.
“Our analysis reveals that, based on rentals and purchase prices relative to income, Australians can find affordable units across the nation,” Mr Lardner said.
“Affordable housing fuels our economy. When families are not burdened by housing costs, they can contribute more to the economy, benefiting both individual households and the broader economy.
“Access to affordable housing promotes stability and resilience, reducing the risk of homelessness and providing a path out of poverty.”
Surburbtrends used strict methods to determine the most affordable areas, which included ensuring prices were cross-referenced with median household income levels, using the most recent Census data and property listings from the past 12 months.
Rental affordability was assessed by determining the percentage of household income devoted to rent, with a 30 per cent threshold set as the maximum.
Purchase affordability was evaluated by comparing the number of years of household income needed to meet the median asking price.
A five-year income limit was set for inclusion in the list.
Only suburbs with a minimum of five units listed for sale and a maximum vacancy rate of two per cent were considered, to ensure active property markets.