If your home buying budget extends to $350,000 or less, rest assured there is still a wealth of opportunities available.
The sunshine state is bursting with homes priced below $350,000. In the fast-growing corridor between Brisbane and the Gold Coast, townhouses are available in Beenleigh for under $200,000. Or check out Yarrabilba, a new masterplanned community 35km north-west of Southport. New homes on small lots are selling from around $270,000.
The sunshine coast offers plenty of value under $350,000, and the construction of the new Sunshine Coast University Hospital will support jobs growth and long term buyer demand.
If you’re looking to buy in the Sydney metro area, head to the west and south west for bargain buying. It’s still possible to pick up houses in suburbs like Lethbridge Park for under $300,000. You’ll need to be quick though. Figures from SQM Research show the suburb’s house prices have skyrocketed by 24.4% over the last 12 months.
For a wealth of employment opportunities, head to Blacktown where 1- and some 2-bedroom units are priced below $350,000. Blacktown is enjoying strong population growth; the transport options are good and best of all, Blacktown remains affordable…for now. House prices have risen 21% in the past year.
Canberra can be a challenging market for buyers with a budget below $350,000 however for this sort of money you can pick up a 1-bedroom apartment around Braddon, Lyneham or Kingston. Construction activity has increased the supply of apartments helping to keep prices down, and these suburbs all are within a short commute to the CBD.
If you’re quick, it may be possible to snare an apartment in Altona (Julia Guillard’s former suburb) for under $350,000. If you miss the boat there, cast your eye over Melbourne’s northern suburbs. Craigieburn offers some great deals on new homes priced under $350,000. A new bypass and shopping centre are making the area popular among first home buyers.
With a median dwelling price of $340,000, Hobart offers plenty of options for buyers with a budget of $350,000. First home buyers are benefitting from a beefed up First Home Builder Boost – enlarged from $8,000 to $23,000 at the end of 2013, and that’s on top of the $7,000 First Home Owner Grant. Vacant lots are priced from around $100,000 in both Launceston and Hobart.
Adelaide’s southern suburbs are set to boom following the completion of the Southern Expressway duplication project (in mid-2014). Suburbs like Seaford are worth a look – houses are priced from under $350,000 though values are likely to rise. The addition of new commuter facilities at Seaford’s bus and rail interchange will help to cut travel times to the Adelaide CBD.
Apartment buyers can still pick up homes in beachside Glenelg for under $350,000. It’s a suburb with a great vibe, a glorious beach and the city centre is just a 15 minute drive away.
Don’t be put off by Perth’s median dwelling price of $525,000. There are still pockets of affordability – like Victoria Park, where 1-bedroom and some 2-bedroom units are still available for under $350,000.
Buyers who are prepared to head a little further out can pick up land priced from the low $100,000s in Armadale, or keep an eye out for duplexes priced from about $250,000.
Intense investor activity in Darwin has pushed the median dwelling price to around $530,000 making the top end capital a challenge for buyers on a tight budget. Single bedroom apartments can still be picked up for less than $350,000 in Nightcliff, or take a look at the new small lot homes in Palmerston – some have price tags below $350,000.
Were you lucky enough to pick up a property for a great price? If you think you know where the current property bargains can be found share your tips and tricks below in the comments!
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