Although real estate prices remain at record highs in many parts of the country, there are still plenty of affordable suburbs and cities where buyers can secure inexpensive homes and units.
PropTrack economist Anne Flaherty says high interest rates coupled with continued rises in real estate prices are encouraging people to seek out more economically viable areas.
“With rental vacancy rates at record lows and people paying large amounts of rent each month, many of these renters are deciding to transition to first-home buyers instead. '' Flaherty said.
“These are the types of buyers who are actually looking for more affordable suburbs, and the trend for suburbs with median prices much lower than their respective capitals is likely to continue to outperform. is.”
When it comes to the nation's cheapest homes over the past year, data from PropTrack's Automated Valuation Model (AVM) shows buyers should focus on region.
Top 10 Most Affordable Suburbs in the Nation – Housing
| suburbs | position | value | |
| 1 | Rangeway, Washington | Western Australia – Outback (South) | $174,000 |
| 2 | mount morgan, queensland | Central Queensland | $177,000 |
| 3 | blackwater, queensland | Central Queensland | $207,000 |
| Four | Whyalla Norley, SA | South Australia – Outback | $212,000 |
| Five | Port Augusta, SA | South Australia – Outback | $217,000 |
| 6 | Whyalla Stuart, SA | South Australia – Outback | $222,000 |
| 7 | Cobar, New South Wales | Far West and Orana | $229,000 |
| 8 | Spalding, Washington | Western Australia – Outback (South) | $233,000 |
| 9 | Ingham, Queensland | townsville | $234,000 |
| Ten | Longreach, Queensland | Queensland – Outback | $241,000 |
But while remote and rural areas offer more affordable housing, there are still many areas outside the capital where the median home price is less than $400,000.
Let's take a look at the most affordable suburbs of the capital.
Located in the inner eastern suburbs of Geraldton, Western Australia, Rangeway offers some of the cheapest housing in the country, with an average price of $174,000.
Some homes in Rangeway have sold for as little as $130,000 within the past 12 months.
![](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 800 450"%3E%3C/svg%3E)
This home in Rangeway, WA sold in 2023 for just $130,000. Photo: realestate.com.au
The Mount Morgan suburb also has homes well below Rockhampton's median price of $230,000, with an average price of $177,000.
Data reveals buyers can also take advantage of incredibly affordable homes in South Australia's outback and towns such as Whyalla and Port Augusta.
In October, Michelle Richardson of Brights Real Estate sold a four-bedroom home in the suburb of Whyalla Norrie to a young family for just $215,000.
Whyalla in South Australia has some of the most affordable property in Australia.Photo: Getty
“I've seen a lot of people sell their homes in the city for a good price, come here and buy something cheaper, enjoy the climate and lifestyle, and live almost debt-free,” she explained. .
Mr. Richardson also noted strong buyer activity in Whylla from investors from across the United States.
Top 10 Most Affordable Suburbs Nationwide – Units
| suburbs | position | value | |
| 1 | South Gladstone, Queensland | Central Queensland | $178,000 |
| 2 | Hermit Park, Queensland | townsville | $196,000 |
| 3 | West Gladstone, Queensland | Central Queensland | $211,000 |
| Four | Manunda, Queensland | cairns | $213,000 |
| Five | Pimlico, Queensland | townsville | $215,000 |
| 6 | rossley, queensland | townsville | $220,000 |
| 7 | Warrie, Queensland | cairns | $221,000 |
| 8 | Railway Estate, Queensland | townsville | $221,000 |
| 9 | edmonton, queensland | cairns | $223,000 |
| Ten | west end, queensland | townsville | $225,000 |
The data reveals that Queensland is officially the cheapest state to buy a home, with the country's top 10 most affordable suburbs located in Gladstone, Townsville and Cairns. Ta.
South Gladstone has some of the cheapest apartments in the country, with an average price of $178,000. West Gladstone isn't far behind, boasting an average price of $211,000.
Townsville has also proven to be a highly affordable option for housing, with five of the country's 10 cheapest suburbs all located within the Queensland city.
Mark Pritchard of Explore Property sold a two-bedroom apartment in Hermit Park in September for $192,000, which is lower than the suburb's average of $196,000.
Mr Pritchard said: “In the past six months we have seen a significant increase in southern investors, particularly from Victoria and New South Wales. They are attracted to Townsville's affordability and central location.” he said.
Cheapest city outside the capital
The most affordable capital city to buy a home in Australia is Adelaide, especially the Elizabeth North suburb.
Despite the 30% year-over-year growth, buyers can still purchase a home in Elizabeth North for around $368,000.
Elizabeth North's homes in Adelaide are selling fast because they are relatively affordable. Photo: realestate.com.au
Mike Rao, president of Edge Realty, which sold 16 homes in Elizabeth North in 2023, said the suburb has been steadily gentrifying in recent years.
“We have a lot of semi-detached homes, so it's perfect for buyers who want to enter the market for the first time,” Mr Rao said.
Top 10 Most Affordable Capital Suburbs – Housing
| suburbs | position | value | |
| 1 | Elizabeth North, SA | Adelaide – North | $368,000 |
| 2 | Malden, Northern Territory | darwin | $369,000 |
| 3 | Gagebrook, Tas. | hobart | $373,000 |
| Four | Grey, Northern Territory | darwin | $384,000 |
| Five | Mandurah, WA | Mandurah | $387,000 |
| 6 | Medina, Washington | Perth – South West | $389,000 |
| 7 | Hersman's Cove (TASS) | hobart | $396,000 |
| 8 | Smithfield Plains, SA | Adelaide – North | $401,000 |
| 9 | Toogoolawah, Queensland | ipswich | $402,000 |
| Ten | Coongamia, WA | Perth – North East | $403,000 |
Ray White Port Adelaide's Rick Schultz noted the suburb was popular with interstate and international buyers.
“There seem to be a lot of immigrants moving here from overseas. I saw that at most of the open houses,” he said.
Adelaide's neighboring suburb of Smithfield Plains also has a number of affordable homes with an average price of $401,000.
Hobart's picturesque Hersman's Cove is one of Australia's most affordable capital city suburbs. Photo: realestate.com.au
In Tasmania, the average house prices in Hobart's two northernmost suburbs, Gagebrook and Hersman's Cove, are $373,000 and $396,000 respectively.
Darwin has also proven to be incredibly affordable for homebuyers, with the suburb of Malden offering an average of $369,000 per home and Gray offering $384,000.
Jen Wardell of LJ Hooker Darwin, who sold a three-bedroom home in Malden to a Sydney investor for $304,000, said Malden was a great option for buyers willing to adjust their expectations.
“Keeping prices down in suburbs like Malden and Gray so investors could swoop in and fix things up was the best way to attract interest in those areas,” she says.
Top 10 Most Affordable Capital Suburbs – Units
| suburbs | position | value | |
| 1 | Aurelia, Washington | Perth – South West | $235,000 |
| 2 | Coolalbyn, Queensland | Logan – Beaudesert | $248,000 |
| 3 | Grey, Northern Territory | darwin | $266,000 |
| Four | Karama, Northern Territory | darwin | $268,000 |
| Five | Driver, Northern Territory | darwin | $278,000 |
| 6 | Logan Central, Queensland | Logan – Beaudesert | $281,000 |
| 7 | Bakewell, Northern Territory | darwin | $287,000 |
| 8 | woodridge, queensland | Logan – Beaudesert | $291,000 |
| 9 | Malak, Northern Territory | darwin | $298,000 |
| Ten | Shoalwater, Washington | Perth – South West | $303,000 |
Darwin is also one of Australia's most affordable capital cities to buy an apartment, with five of Australia's 10 cheapest suburbs all located in the Northern Territory capital.
The most affordable are Gray ($266,000), Karama ($268,000), Driver ($278,000), Bakewell ($287,000), and Malak ($298,000).
Logan, in southern Queensland, is just a 45-minute drive from Brisbane and is one of the most affordable and central areas to buy cheap property.
The cheapest apartments are in Coolalbin ($248,000), Logan Central ($281,000) and Woodridge ($291,000).
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Unsurprisingly, Australia's most expensive states, NSW, ACT and Victoria, don't even make the top 10 list, either regionally or by capital city.
Sydney's most affordable suburb to live in is Tregear on the city's western outskirts, with a median house price of $664,000, followed by Wilmot ($675,000) and Sanremo on the Central Coast ($676,000). It becomes. Meanwhile, buyers can look to Calamar in Parramatta for the most affordable properties (median price $393,000).
In regional New South Wales, the only suburb with a median house price below $300,000 is Muswellbrook ($292,000), while the mining town of Cobar in the state's far west has the highest house price. It's a cheap suburb ($229,000).
Australia's most expensive state suburbs don't make the top 10 list, but there are still relatively affordable options.Photo: Getty
In Victoria, Melton in Melbourne's west is the most affordable metropolitan suburb with a median house price of $469,000, while Caulfield East is the cheapest suburb with a median house price of $316,000. It has become.
Dimboola in the north-west of the state is the cheapest suburb in Victoria ($251,000), with Maw ($246,000) and Morewell ($290,000) in Victoria's Latrobe and Gippsland regions the least expensive. We provide affordable housing.
In the ACT, buyers need to budget over $700,000 to secure a median priced home in Charnwood ($704,000), Australia's capital's most affordable suburb. Hawker is the only suburb with a median home price below his $396,000.
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