It’s still possible to find affordable homes. Aussie and CoreLogic have identified the suburbs around the country which are the most popular for families, and uncovered where you can buy – even if your budget is $200,000!
With a median home value of just under $492,000, Brisbane offers plenty of options for buyers in the under $600,000 and under $400,000 markets.
To the south of the city, Heathwood has median house values of $569,000, or take a look at nearby Drewvale, where houses can be priced at around $577,000.
Part of the appeal in Brisbane is that it’s still possible to pick up houses in family-friendly suburbs within ten kilometres of the CBD for less than $600,000 in suburbs like Tingalpa. Or take a look at Mitchelton and Murarrie where entry level houses are valued at around $567,000 and $562,000 respectively.
For apartment buyers with a budget of $400,000, inner city living is a real option. Kalinga in the inner city offers convenience and value with a median unit price of $292,000. In the Indooroopilly area, apartments in Chelmer are priced at around $324,000 though with entry level units available from about $308,000.
As the nation’s most expensive city, Sydney has a median house value of just over $1 million so it can be a push to find a home under $600,000. Apartments offer a more affordable option, and good value can often be found in the city’s south western growth corridor.
Take a look at Horningsea Park (median unit value of $557,000), Prestons ($599,031), or if you’re quick, it’s possible to pick up entry level apartments in Parklea – on the periphery of the sought-after Hills District, for around $576,000.
The median home value across Melbourne is $721,000 but it can be possible to get into your own home in a popular family suburb for far less.
Roxburgh Park in the Broadmeadow area fits into the under $600,000 price bracket with a median value house value of $551,000. In the same neighbourhood, houses in Meadow Heights are typically priced at around $497,183, and to the city’s west, buyers can expect to pay $548,000 for a house in Tarneit.
For buyers with a budget of up to $400,000, there is a wealth of choice in Melbourne’s apartment market. Roxburgh Park (median unit value of $386,000) and Craigieburn ($374,000) both offer affordable buying. Or, head to the Bacchus Marsh suburb of Hillside, where entry level apartments can be priced from $387,000.
With a median house value of $671,000, Canberra buyers can still pick up houses in popular family suburbs for under $600,000. The Belconnen suburb of Macgregor is one of the most affordable for those looking for family-friendly areas, with a median house value just under $518,000.
That said, the new development of Gunghalin offers value buying for houses, with a range of suburbs including Bonner and Casey offering entry levels houses below $525,000.
In the under-$400,000 price range, apartments offer an affordable option. Theodore and Conder, both in Tuggeranong, offer entry level units typically priced at $393,000. Or for real buying power, units in Harrison, a suburb of Gungahlin, can be picked up from $340,000.
Hobart takes the gong as Australia’s most affordable state capital, and both house and apartment buyers can enjoy plenty of bang for their buck.
In fact, it’s still possible to buy a house for under $200,000 in the outer Hobart suburb of Gagebrook, where the median house price is $160,000. If you’re hoping to be closer in to the city centre, Risdon Vale is worth a look, with houses typically valued at approximately $199,000 and popular with families.
For a laid back beachside lifestyle, it’s still possible to pick a house in Dodges Ferry for around $254,000. But for sheer affordability, it’s hard to go past Bridgewater in the city’s north-west, where entry level apartments are priced at about $142,000.
There’s a lot to love about the Adelaide region – beautiful beaches, nearby vineyards and affordable real estate in popular family suburbs.
In fact, if your budget is $600,000, a generous selection of suburbs are yours for the taking. Even a $400,000 budget can see you buy into a number of the city’s northern suburbs including Burton (median house value of $304,000), Paralowie ($296,000) and Munno Para West ($292,000). Or pick up an entry level home in the near-city locations of Ferryden Park ($398,000) and Angle Park ($392,000).
Apartment buyers in Adelaide enjoy a smorgasbord of affordable options. Wattle Park, in the Burnside area (median unit value of $597,000), is an option for buyers in the under $600,000 price range, while at the far end of the scale, it’s possible to snare a unit for as little as $213,000 in Angle Park.
If you’re prepared to head further out, expect to pay just over $200,000 for a unit in Paralowie or around $206,000 in Mansfield Park to the city’s west.
Perth’s property values have fallen by 2.6% over the last year giving today’s home buyers and families greater purchasing power.
In the under $600,000 price range, the suburb of Darch, located about 16 kilometres north of Perth CBD, offers a typical house value of just under $570,000, though entry level houses can be priced from about $513,000.
There’s still a wealth of options for house buyers with a budget of $400,000. Take a look at Bertram (median value $361,000) or Leda ($327,000) – both in the Kwinana area. But for sheer affordability, one of the most affordable Perth suburbs is Brookdale, located about 27 kilometres south east of Perth, where the typical house is worth approximately $292,000. Closer to the city, Noranda has a median house value of $568,000.
Apartment buyers on a tight budget have a good selection of Perth suburbs to choose from. Entry level prices in Secret Harbour start at around $202,000, or score a home for under $200,000 in Landsdale and Bertram, where it’s still possible to pick up apartments for as little as $197,000 and $159,000 respectively.
Prices have come off the boil in Darwin, with property values down 6.4% in the past 12 months. This is making a significant difference to affordability, and one of the city’s most value-packed suburbs is Moulden, located about 14.5 kilometres east of Darwin. Here, the typical house value is just $403,000 and the average block size almost 900 square metres.
Apartment buyers have a good choice of Darwin locations offering prices below $400,000. For value buying check out Nakara, where units are available from around $267,000, or head to Moil, where an entry level unit will set you back around $257,000.
We’ve shown you the affordable suburbs in popular family suburbs, now talk to your local Aussie Broker to find the home loan that’s suited to your budget and lifestyle.
Find the free report on Australia’s most popular suburbs for families here.
You may also be interested in Affordable suburbs within 60 minutes of the CBD, Vertical high streets – how to choose your apartment and Australia’s most affordable suburbs revealed.