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Brisbane is Australia’s most affordable and livable capital city according to new research.

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Housing affordability has significantly declined since the 1980’s and has been a long-standing issue among average Australians, with the OECD’s income to ratio index showing a 78% increase between 1980 and 2015.

A recent study conducted by PRD Nationwide analysed each state and capital city for the first half of 2018 to measure suburb’s affordability and livability, factoring in price growth, rental yields and project development.

“Livability is gaining traction among home buyers and does attract a cost.” The report states.

People are finding that the location they live in either benefits, or hinders their family in terms of affordability, and the liveability of the location, also contributes towards their overall happiness.

Psychologist, author and “Chief Happiness Officer”, Dr Timothy Sharp knows why this is key.

Dr Sharp says where we live also influences the activities we do and affects the ease with which we can access social and recreational activities.

“So indirectly, the location in which we live affects our lifestyle, which not surprisingly is important for our mental health and happiness. This also includes our neighbours and community, which have been shown to be vitally important for our health and wellbeing.”

This latest report release provides insights into the cost of livability and the cost in which home buyers are prepared to pay to have this important requirement met.

Suburbs were rated on the following important features; entry price points, amenities, schools, parks, health care facilities, shops, unemployment rates and crime rates.

Brisbane had the lowest entry price point and the highest rental yield. The suburb of Algester in Brisbane proving to have the best affordability and livability given its low entry prices and proximity to local amenities, motorway access and schools.

Sydney experienced a gentle overall growth rate of 0.8 per cent, however demonstrated certain high growth areas such as Dee Why, which recorded 630 sales over fifteen months and a solid price growth of 10.3 per cent. In Milperra, south-west of Sydney’s CBD, homeowners benefited from nearby shopping centers, schools, golf courses, the Western Sydney University and public transport.

Throughout Melbourne, median house prices experienced a growth rate of 1.3 per cent. Melbourne’s north western suburbs of Westmeadows, Tullamarine and Gladstone Park proved to be standouts in terms of affordability and livability.

“It is no longer realistic to simply report on affordable suburbs, but to include those that have high ‘livable’ factors,” the report stated.

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Nick Lockhart is an acclaimed keynote speaker as well as founder and director of MRD Partners.

Nick is a result driven presenter and mentoring expert who specialises in investment techniques, finance and economics topics with a high degree of personal development and motivation woven through each of his presentations.

His focus is strategic partnerships with clients, helping them pay off their homes (and investment properties) in record time, minimising their tax liability and reducing debt to build wealth faster and retire on a comfortable and self funded income.

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