Save thousands on your home loan
Compare 25+ lenders and hundreds of loans in an instant
I want:
Westpac Macquarie citibank commonwealth bank anz bankwest
finni mortgages logo
google reviews
4.9
star star star star star
Rating based on 147 reviews

×

Where can you still snap up a bargain?

With the increased cost of living and high interest rates, investors and first home buyers have turned to more affordable locations in 2024.

house for sale lw

The latest Best of the Best CoreLogic report showed buyers have flocked to budget-friendly locations to make the most of their money in the past 12 months.

Nationwide, Darwin was deemed the most affordable capital city for both houses and units, respectively, scoring six and eight suburbs in the top 10 list of most affordable areas.

For houses, Moulden in the Greater Darwin area scored the best median value coming in at $392,008, while Bakewell had a median price of $278,855 for units.

The top 10 list of “affordable” suburbs for houses also saw Brisbane scoring two suburbs, while Hobart and Canberra rounded the least with each one suburb.

Similarly, Perth and Brisbane totalled each one suburb in the top 10 most affordable suburbs for units.

In the regions, Norseman in the Goldfields-Esperance region of Western Australia topped the list of affordable house markets with a median value of $80,289.

For units, Laguna Quays in Queensland came in at number one with a median value of $142,689.

CoreLogic head of research, Eliza Owen, said the data collected estimates that an affordable dwelling purchase for the median income household in Australia will be around $507,000, which is a far cry from the current median of $813,000.

Yet some suburbs around Australia are still under the current median threshold – here is where they are:

NSW

Sydney houses

  1. San Remo – median value: $692,302

  2. Gorokan – median value: $698,598

  3. Mount Victoria – median value: $719,364

Sydney units

  1. Berkeley Vale – median value: $404,554

    Loading form...
  2. Carramar – median value: $410,784

  3. Warwick Farm – median value: $414,056

Regional NSW houses

  1. Binnaway – median value: $165,194

  2. Peak Hill – median value: $195,521

  3. Hay – median value: $223,782

Regional NSW units

  1. Armidale – median value: $301,175

  2. Muswellbrook – median value: $328,005

  3. Lavington – median value: $332,095

Victoria

Melbourne houses

  1. Melton West – median value: $474,970

  2. Melton South West – median value: $499,956

  3. Coolaroo – median value: $539,203

Melbourne units

  1. Melton South West – median value: $358,389

  2. Carlton – median value: $364,298

  3. Notting Hill – median value: $365,081

Regional Victoria houses

  1. Minyip – median value: $173,002

  2. Warracknabeal – median value: $204,374

  3. Ouyen – median value: $204,686

Regional Victoria units

  1. Numurkah – median value: $260,402

  2. Morwell – median value: $267,213

  3. Moe – median value: $277,591

Queensland

Brisbane houses

  1. Lamb Island – median value: $416,295

  2. Russell Island – median value: $423,067

  3. Toogoolawah – median value: $461,063

Brisbane units

  1. Kooralbyn – median value: $294,273

  2. Goodna – median value: $380,532

  3. Logan Central – median value: $390,063

Regional Queensland houses

  1. Sapphire Central – median value: $133,508

  2. Collinsville – median value: $171,567

  3. Scottville – median value: $175,256

Regional Queensland units

  1. Laguna Quays – median value: $142,689

  2. Middlemount – median value: $181,822

  3. Dolphin Heads – median value: $224,429

South Australia

Adelaide houses

  1. Elizabeth North – median value: $468,890

  2. Elizabeth Downs – median value: $477,297

  3. Elizabeth South – median value: $496,628

Adelaide units

  1. Gawler South – median value: $396,697

  2. Salisbury – median value: $418,756

  3. Hackham – median value: $430,083

Regional South Australia houses

  1. Peterborough – median value: $189,667

  2. Port Pirie West – median value: $203,676

  3. Solomontown – median value: $232,163

Regional South Australia units

  1. Mount Gambier – median value: $345,007

  2. Victor Harbor – median value: $471,153

Western Australia

Perth houses

  1. Leda – median value: $521,373

  2. Calista – median value: $523,952

  3. Kwinana Town Centre – median value: $532,133

Perth units

  1. Orelia – median value: $309,576

  2. Mirrabooka – median value: $374,739

  3. Swan View – median value: $385,928

Regional Western Australia houses

  1. Norseman – median value: $80,289

  2. Southern Cross – median value: $99,132

  3. Morawa – median value: $99,273

Regional Western Australia units

  1. Newman – median value: $235,560

  2. Boulder – median value: $248,742

  3. Kalbarri – median value: $270,168

Tasmania

Hobart houses

  1. Gagebrook – median value: $450,557

  2. New Norfolk – median value: $464,622

  3. Risdon Vale – median value: $467,823

Hobart units

  1. Claremont – median value: $439,028

  2. Glenorchy – median value: $445,523

  3. Brighton – median value: $447,421

Regional Tasmania houses

  1. Rosebery – median value: $174,997

  2. Queenstown – median value: $179,385

  3. Miena – median value: $327,525

Regional Tasmania units

  1. Newnham – median value: $352,906

  2. Mowbray – median value: $353,799

  3. South Launceston – median value: $386,772

Northern Territory

Darwin houses

  1. Moulden – median value: $392,008

  2. Gray – median value: $396,319

  3. Driver – median value: $429,628

Darwin units

  1. Bakewell – median value: $278,855

  2. Gray – median value: $285,429

  3. Driver – median value: $296,563

Regional NT houses

  1. Tennant Creek – median value: $238,491

  2. Katherine – median value: $338,367

  3. Katherine East – median value: $341,991

Regional NT units

  1. Gillen – median value: $250,849

  2. The Gap – median value: $252,357

ACT

Canberra houses

  1. Belconnen – median value: $457,727

  2. Greenway – median value: $593,321

  3. Phillip – median value: $630,102

Canberra units

  1. Lyons – median value: $384,143

  2. Gungahlin – median value: $457,650

  3. Crace – median value: $476,282

You need to be a member to post comments. Become a member for free today!

Related articles