Key takeaways:
Affordable suburbs still exist: Every capital city has suburbs with median dwelling values below the city-wide median.
Location involves trade-offs: Lower-priced suburbs may require buyers to weigh factors such as transport, amenities and property type.
Preparation can create more options: Understanding your borrowing power may help you act when the right property becomes available.
Affordability means more than price: Buyers also need to consider deposits, repayments and ongoing ownership costs.
With affordability pressures continuing to reshape the property market, many Australians are widening their search in the hope of finding a home that fits both their budget and lifestyle.
New data from Cotality highlights the cheapest suburbs by median dwelling value across each capital city, showing there are still pockets of relative affordability even in Australia's more expensive housing markets.
For buyers who have been discouraged by headline property prices, the figures suggest there may still be affordable pockets worth exploring, particularly for those willing to broaden their search.
Gerard Burg, Head of Research at Cotality, said the most affordable suburbs in Australia's capital cities are typically located on the urban fringe.
“Greater affordability usually comes with trade-offs,” he said. “Being on the urban fringes of the cities means longer transport or commuting distances to the city centre. It often means less access to public transport, fewer services and amenities.”
Burg said these suburbs have long attracted first-home buyers, but rising affordability pressures are seeing a broader range of buyers consider them as well.
However, affordability isn't just about finding the lowest purchase price. It's also about understanding what you can comfortably afford, how much you may be able to borrow and whether a property suits your lifestyle and longer-term goals.
Cheapest suburbs to buy a property in Sydney
Suburb | SA4 Name | Median value | Change in values 3 months | Change in values 12 months |
|---|---|---|---|---|
Warwick Farm | Sydney - South West | $500,143 | -0.30% | 6.30% |
Harris Park | Sydney - Parramatta | $528,540 | -1.30% | 1.50% |
Rosehill (NSW) | Sydney - Parramatta | $540,502 | -1.60% | -0.60% |
Liverpool | Sydney - South West | $543,266 | -0.60% | 6.40% |
Carramar (NSW) | Sydney - Parramatta | $563,630 | -2.50% | 7.60% |
Lakemba | Sydney - Inner South West | $589,802 | -2.40% | 7.40% |
Wiley Park | Sydney - Inner South West | $607,303 | -3.10% | 8.60% |
Mays Hill | Sydney - Parramatta | $613,229 | -0.60% | 4.50% |
Westmead | Sydney - Parramatta | $621,812 | -0.30% | 3.90% |
Granville (NSW) | Sydney - Parramatta | $625,930 | -2.00% | 3.40% |
Source: Cotality Home Value Index, July 2026
Sydney remains Australia's most expensive housing market, but some suburbs continue to have median dwelling values below the city-wide median.
While these suburbs remain less expensive than many parts of Sydney, buyers may still require substantial deposits and borrowing capacity. Property type, transport links and proximity to employment hubs may also influence whether a suburb represents good value.
For some buyers, widening their search beyond familiar locations may reveal opportunities they hadn't previously considered.
Cheapest suburbs to buy a property in Melbourne
Suburb | SA4 Name | Median value | Change in values 3 months | Change in values 12 months |
|---|---|---|---|---|
Carlton (Vic.) | Melbourne - Inner | $357,651 | 1.00% | -5.20% |
Travancore | Melbourne - Inner | $398,169 | -1.20% | -1.80% |
Melbourne | Melbourne - Inner | $460,182 | 2.00% | -2.10% |
Notting Hill | Melbourne - South East | $476,714 | -2.10% | 1.60% |
Albion (Vic.) | Melbourne - West | $486,517 | -1.20% | 3.30% |
North Melbourne | Melbourne - Inner | $519,789 | 0.70% | -1.60% |
Dandenong | Melbourne - South East | $523,209 | -2.20% | 2.30% |
West Melbourne | Melbourne - Inner | $528,314 | 1.00% | -1.80% |
Footscray | Melbourne - West | $537,680 | 0.50% | 2.20% |
Melton (Vic.) | Melbourne - West | $546,630 | -1.00% | 9.50% |
Source: Cotality Home Value Index, July 2026
Melbourne continues to offer some of the lowest median dwelling values among Australia's mainland capitals, giving buyers lower-priced options than many other capital cities.
Melbourne has experienced more subdued price growth than many other major cities in recent years, helpinng it remain comparatively more affordable than markets such as Sydney and Melbourne.
Adrian Sbaraglia of Aussie Point Cook said many first-home buyers are taking longer to prepare before entering the market, with deposit requirements remaining one of the biggest hurdles.
“We're getting quite a few people coming in at that first step, even though buying is probably still six to 12 months away,” he said.
Sbaraglia said many buyers are targeting homes around Victoria's stamp duty concession thresholds, but limited stock is making those searches more difficult.
"The biggest thing at the moment is to sit down, look at your financial position and put together a plan,” he said.
Starting with a clear understanding of your budget may help narrow your search and set realistic expectations.
Cheapest suburbs to buy a property in Brisbane
Suburb | SA4 Name | Median value | Change in values 3 months | Change in values 12 months |
|---|---|---|---|---|
Bridgewater (Tas.) | Hobart | $539,752 | 6.20% | 15.50% |
Risdon Vale | Hobart | $566,811 | 6.00% | 19.60% |
New Norfolk | Hobart | $567,397 | 4.60% | 19.20% |
Clarendon Vale | Hobart | $584,517 | 4.00% | 14.70% |
Primrose Sands | Hobart | $595,863 | 1.00% | 12.30% |
Chigwell | Hobart | $638,996 | 5.20% | 18.20% |
Rokeby (Tas.) | Hobart | $643,420 | 3.20% | 13.10% |
Brighton (Tas.) | Hobart | $645,937 | 2.70% | 10.00% |
Claremont (Tas.) | Hobart | $648,431 | 5.00% | 16.00% |
Berriedale | Hobart | $651,517 | 4.70% | 15.80% |
Source: Cotality Home Value Index, July 2026
Brisbane's strong price growth over recent years has reduced the number of lower-priced suburbs available to buyers, driven in part by strong interstate migration and limited housing supply.
For buyers balancing affordability with convenience, weighing up factors such as commute times and local amenities may become part of the decision-making process.
For some buyers, that may mean considering different property types or looking slightly further from the CBD to find a home that fits their budget.
You might also be interested in: Brisbane units prices are closing in on Sydney. Here’s what buyers need to know
Cheapest suburbs to buy a property in Adelaide
Suburb | SA4 Name | Median value | Change in values 3 months | Change in values 12 months |
|---|---|---|---|---|
Elizabeth North | Adelaide - North | $579,804 | 1.80% | 13.30% |
Elizabeth South | Adelaide - North | $602,724 | -0.50% | 13.50% |
Elizabeth Downs | Adelaide - North | $604,268 | 1.80% | 12.00% |
Elizabeth Grove | Adelaide - North | $625,796 | -0.70% | 12.70% |
Smithfield (SA) | Adelaide - North | $625,987 | 2.10% | 12.40% |
Elizabeth | Adelaide - North | $627,316 | -0.10% | 13.60% |
Davoren Park | Adelaide - North | $639,916 | 0.70% | 13.30% |
Adelaide | Adelaide - Central and Hills | $654,410 | 2.90% | 11.40% |
Smithfield Plains | Adelaide - North | $658,257 | 1.60% | 12.80% |
Elizabeth Park | Adelaide - North | $668,231 | 3.40% | 17.00% |
Source: Cotality Home Value Index, July 2026
Adelaide has experienced rapid dwelling value growth in recent years, reducing the number of lower-priced suburbs available to buyers.
Comparing neighbouring suburbs rather than focusing on a single preferred location may uncover more affordable options without moving too far from work, family or lifestyle priorities.
Cheapest suburbs to buy a property in Perth
Suburb | SA4 Name | Median value | Change in values 3 months | Change in values 12 months |
|---|---|---|---|---|
Glendalough | Perth - Inner | $638,384 | 4.70% | 31.20% |
Cockburn Central | Perth - South West | $659,431 | 2.30% | 22.00% |
Osborne Park | Perth - North West | $730,157 | 0.30% | 26.10% |
Orelia | Perth - South West | $730,582 | 4.30% | 24.80% |
Mandurah | Mandurah | $732,201 | 6.30% | 25.50% |
Perth (WA) | Perth - Inner | $746,523 | 3.60% | 25.60% |
Midland | Perth - North East | $746,932 | 3.30% | 27.90% |
Medina | Perth - South West | $754,276 | 5.00% | 28.70% |
Koongamia | Perth - North East | $755,943 | 1.70% | 18.50% |
Parmelia | Perth - South West | $757,398 | 3.70% | 24.00% |
Source: Cotality Home Value Index, July 2026
Perth's strong price growth has pushed many suburbs beyond the reach of some buyers, but more affordable options remain in parts of the metropolitan area, particularly further from the CBD and major employment centres.
Matthew Bulmer, Aussie Broker based in Perth, said many of these suburbs continue to offer relatively affordable entry points for eligible first-home buyers.
“For buyers balancing affordability with convenience, weighing up factors such as commute times and local amenities may become part of the decision-making process,” he said.
“If you feel the market has moved beyond your budget, it's worth speaking with a broker or lender to understand your options and what may still be achievable based on your circumstances.”
For eligible buyers, combining a more affordable suburb with available government assistance may help improve what's achievable, depending on eligibility and individual circumstances.
Cheapest suburbs to buy a property in Hobart
Suburb | SA4 Name | Median value | Change in values 3 months | Change in values 12 months |
|---|---|---|---|---|
Bridgewater (Tas.) | Hobart | $539,752 | 6.20% | 15.50% |
Risdon Vale | Hobart | $566,811 | 6.00% | 19.60% |
New Norfolk | Hobart | $567,397 | 4.60% | 19.20% |
Clarendon Vale | Hobart | $584,517 | 4.00% | 14.70% |
Primrose Sands | Hobart | $595,863 | 1.00% | 12.30% |
Chigwell | Hobart | $638,996 | 5.20% | 18.20% |
Rokeby (Tas.) | Hobart | $643,420 | 3.20% | 13.10% |
Brighton (Tas.) | Hobart | $645,937 | 2.70% | 10.00% |
Claremont (Tas.) | Hobart | $648,431 | 5.00% | 16.00% |
Berriedale | Hobart | $651,517 | 4.70% | 15.80% |
Source: Cotality Home Value Index, July 2026
Hobart's market has moderated since its rapid growth during the pandemic, although affordability continues to vary considerably between suburbs. Differences in property type, location and buyer demand mean prices can vary significantly across the city.
City-wide median prices don't always tell the full story. Looking suburb by suburb may reveal opportunities that broad market figures can overlook.
Cheapest suburbs to buy a property in Darwin
Suburb | SA4 Name | Median value | Change in values 3 months | Change in values 12 months |
|---|---|---|---|---|
Coolalinga | Darwin | $398,817 | 7.90% | 25.90% |
Coconut Grove | Darwin | $440,243 | 4.40% | 16.70% |
Marrara | Darwin | $468,270 | 5.20% | 14.80% |
Brinkin | Darwin | $468,677 | 4.60% | 18.20% |
Millner | Darwin | $469,739 | 4.50% | 16.40% |
Parap | Darwin | $495,033 | 4.90% | 21.00% |
Nightcliff | Darwin | $503,869 | 5.10% | 18.40% |
Darwin City | Darwin | $512,730 | 3.60% | 18.20% |
Rapid Creek | Darwin | $538,778 | 4.00% | 18.40% |
Berrimah | Darwin | $541,426 | 6.50% | 20.30% |
Source: Cotality Home Value Index, July 2026
Darwin remains one of Australia's more affordable capital city markets overall.
A lower purchase price may reduce the amount you need to borrow, but buyers should also factor in ongoing costs such as insurance, maintenance and council rates when comparing suburbs.
Cheapest suburbs to buy a property in Canberra
Suburb | SA4 Name | Median value | Change in values 3 months | Change in values 12 months |
|---|---|---|---|---|
Phillip | Australian Capital Territory | $491,271 | -2.10% | -0.80% |
Greenway | Australian Capital Territory | $506,071 | -2.90% | 2.00% |
Belconnen | Australian Capital Territory | $521,948 | 0.50% | 2.90% |
Gungahlin | Australian Capital Territory | $535,338 | -0.40% | 1.70% |
Braddon | Australian Capital Territory | $541,838 | -2.90% | -4.20% |
Wright | Australian Capital Territory | $580,485 | -1.10% | -1.00% |
Reid (ACT) | Australian Capital Territory | $581,440 | -3.20% | -3.90% |
City | Australian Capital Territory | $581,878 | -2.70% | -2.90% |
Turner | Australian Capital Territory | $640,509 | -2.80% | -0.70% |
Dickson | Australian Capital Territory | $641,661 | -2.70% | 0.50% |
Source: Cotality Home Value Index, July 2026
While Canberra remains one of Australia's more expensive capital cities overall, the data shows buyers can still find relatively more affordable suburbs across the ACT, including in areas such as Gungahlin and Tuggeranong.
According to Andrew Cameron of Aussie Belconnen in Canberra says competition has eased in parts of the market, particularly for first-home buyers purchasing near the ACT's $1 million first-home buyer support threshold.
“Transactions are still happening towards the price cap, but there's less competition and I think buyers are a bit more cautious,” he said.
He said vendors also appear more willing to negotiate than earlier in the year, giving some buyers more opportunity to include finance conditions when making an offer.
In that environment, having pre-approval in place may help buyers move with confidence when they find the right property.
What affordable suburbs may mean for buyers
The cheapest suburb isn't necessarily the right suburb. The best option will depend on your budget, lifestyle, long-term plans and what you can comfortably afford.
Looking beyond headline prices, understanding your borrowing capacity and weighing up the trade-offs between price, location and lifestyle can help you make a more informed decision.
An Aussie Broker can help you understand your borrowing power, compare loan options and explore different pathways to home ownership based on your individual circumstances.