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For anyone who’s watched Australian house prices climb and concluded that home ownership is a pipe dream, there may be some good news. You can still buy a house for less than $300,000. You might just have to rethink your postcode.
New data from realestate.com.au has identified 26 Australian suburbs with some of the country’s lowest median house prices, against a national median of $974,000.
The research shows Queensland has the most suburbs boasting median house prices under $300,000, with 11 outback locations on the list. New South Wales follows with 7, while South Australia features four times, including Coober Pedy with the lowest median house price of $68,750.
Cheaper doesn’t necessarily mean a property market going backwards either. Many suburbs in the under-$300,000 group recorded annual price growth to September. In regional NSW, median house prices in Coonamble rose 13.1 per cent to $198,000, while Whyalla Stuart in South Australia saw a 46.3 per cent price increase to $300,000.
Of course, a cheaper house can mean fewer local jobs or a longer drive to essential services, and moving somewhere purely because you can afford a house is a fairly big life decision. Still, with prices like these, it might be time to expand the search radius.
The Australian suburbs where a house still costs less than $300,000:
- Coober Pedy, SA – $68k
- Coonamble, NSW – $198k
- Rosebery, TAS – $202k
- Bourke, NSW – $205k
- Tara, QLD – $205k
- Queenstown, TAS – $220k
- Nyngan, NSW – $225k
- Charleville, QLD – $245k
- Kambalda West, WA – $245k
- Peterborough, SA – $245k
- Broken Hill, NSW – $250k
- Dysart, QLD – $250k
- Townview, QLD – $250k
- Collinsville, QLD – $255k
- Pioneer, QLD – $260k
- Roxby Downs, SA – $265k
- Tennant Creek, NT – $270k
- Nhill, VIC – $278k
- Cloncurry, QLD – $280k
- Warren, NSW – $280k
- Moura, QLD – $290k
- Whyalla Norrie, SA – $290k
- Parkside, QLD – $293k
- Soldiers Hill, QLD – $295k
- Sunset, QLD – $297k
- Warracknabeal, VIC – $299k