In Australia, there are still plenty of opportunities for buyers seeking affordable homes, particularly in regional areas where property prices remain considerably lower than those in major cities. According to the latest data, several suburbs offer homes for as little as $60,000, which is often the same amount required for a deposit in a major capital city. Here’s a breakdown of Australia’s most affordable suburbs for houses and units as of December 2024:
Cheapest Suburbs for Houses:
Charleville, QLD – $170,000
Located 750km west of Brisbane, Charleville offers extremely affordable housing, with a few properties even trading for as little as $60,000.
Rosebery, TAS – $172,000
A remote mining town in Tasmania, Rosebery is ideal for bargain hunters looking for affordable housing in regional Australia.
Kambalda West, WA – $190,000
Situated in Western Australia’s Outback, Kambalda West offers relatively low house prices in comparison to more urbanized areas.
Collinsville, QLD – $190,000
This town in Queensland’s Mackay region is a hotspot for those looking to purchase affordable homes in a more rural setting.
Cobar, NSW – $220,000
Known for its mining history, Cobar in New South Wales offers affordable housing in Australia’s Far West.
Merredin, WA – $227,000
Located in the Wheat Belt region of WA, Merredin is another affordable option for homebuyers in regional Australia.
Broken Hill, NSW – $241,000
This iconic outback town provides affordable real estate options for those willing to embrace a more remote lifestyle.
Dysart, QLD – $243,000
A town in Queensland’s Mackay region, Dysart offers budget-friendly properties in a rural mining setting.
Port Augusta, SA – $250,000
Situated in South Australia’s Outback, Port Augusta provides some of the most affordable housing on the market.
Mount Morgan, QLD – $250,000
A historic town in Queensland, Mount Morgan offers buyers the chance to own a home in a picturesque rural setting.
Cheapest Suburbs for Units:
South Gladstone, QLD – $240,000
Located in Central Queensland, South Gladstone offers affordable units for those seeking budget-friendly living near the coast.
Moe, VIC – $254,000
Moe in Gippsland is one of the most affordable places to buy a unit in Victoria.
Hermit Park, QLD – $256,000
A suburb of Townsville, Hermit Park offers budget-friendly unit options in the Queensland region.
Emerald, QLD – $270,000
This Central Queensland town offers a selection of affordable units in a growing regional area.
Manunda, QLD – $279,000
Located in Cairns, Manunda is another affordable suburb offering units at a lower price compared to other parts of Queensland.
Affordable Suburbs in Capital Cities:
Russell Island, QLD (Greater Brisbane) – $381,000
While part of the Brisbane metropolitan area, Russell Island is located an hour away by ferry, making it an affordable option for buyers willing to relocate a bit further out.
Gagebrook, TAS (Hobart) – $382,000
One of the most affordable suburbs in Hobart, Gagebrook offers budget-friendly homes for buyers looking in Tasmania.
Moulden, NT (Darwin) – $401,000
Located in Darwin’s Palmerston region, Moulden offers one of the cheapest options in Australia’s most affordable capital city.
Key Insights:
Affordability Factors: Many of the cheapest suburbs are found in regional, remote, or mining areas, where land is less expensive and demand is lower than in major cities. These areas also tend to have lower-income populations, which keeps prices down.
Investment Potential: Despite their low prices, many of these suburbs have seen significant price growth. For instance, Rangeway in Geraldton, WA, witnessed a 48% rise in house prices in 2024, reflecting strong demand in these regions.
Future Outlook: Experts predict that demand for affordable properties will continue to rise, particularly as buyers look to stretch their budgets further amid high interest rates. Buyers looking for affordable homes may find that these regions offer potential for growth in the coming years.
For those willing to embrace the lifestyle of Australia’s more remote or regional areas, these suburbs offer the opportunity to buy a home outright for a fraction of the price of a property in a capital city.
Related Topics:
How Blockchain Technology is Revolutionizing Real Estate
