Cheapest Place to Buy a House in Australia (2024)

Where is the Cheapest Place to Buy a House in Australia in 2024

Australia’s Housing Market presents a diverse array of opportunities, especially for those seeking affordable properties. While major cities often come with hefty price tags, several regional and remote areas offer budget-friendly options.

After all, Sydney’s median house price cracked $1.5 million for the June quarter, according to Domain data. Melbourne and Canberra median house prices still sit over $1 million while Brisbane and Adelaide medians are still $823,000-813,000.

Most of Australia’s cheapest houses are found in regional towns and rural areas, and need plenty of work to get into a habitable state. These properties do however provide budget-friendly opportunities for homebuyers and investors alike.

Here’s a look at 5 of the most affordable suburbs and towns, across the country.:

ANSWER

1. Coober Pedy, South Australia

Known as the opal capital of the world, Coober Pedy offers unique underground homes designed to escape the desert heat. The median house price here is approximately $78,000, making it one of the most affordable places to buy property in Australia. Property Update

2. Kambalda East, Western Australia

Situated in the Goldfields-Esperance region, Kambalda East has a median house price of around $118,525. This mining town provides affordable housing options for those looking to invest in regional areas. Property Update

3. Peterborough, South Australia

This historic railway town of Peterborough, boasts a median house price of $145,000. Peterborough offers a quaint lifestyle with a rich heritage, appealing to those interested in affordable country living. Property Update

4. Charleville, Queensland

Located in the heart of Queensland, Charleville has a median house price of $150,000. The town is known for its friendly community and serves as a gateway to the outback. Property Update

House in Charleville, Queensland, image by Kgbo

5. Norseman, Western Australia

Set on the shores of Lake Cowan, Norseman offers properties with median prices around $47,500. This remote town provides a serene environment for those seeking solitude. Take A Tumble

Current Trends in Affordable Housing

Affordable housing in regional Australia offers benefits beyond the price tag. These properties are great for first-time buyers, retirees seeking a peaceful lifestyle, or investors looking for high-potential areas. The charm of small-town living, coupled with lower costs, attracts buyers eager to escape urban pressures.

Recent reports have indicate a surge in demand for affordable properties, with some areas experiencing significant price increases, over 2023 and 2024. For instance, ‘a couple of Victorian towns, have seen properties under $100,000 being snapped up quickly, reflecting a growing interest in budget-friendly housing options.‘ Herald Sun

Additionally, ‘housing affordability in Australia has reached historic lows, with average loan repayments consuming a significant portion of median family incomes. This trend underscores the importance of exploring affordable housing markets.’ News.com.au

Where to Start Your Search

Ready to explore the cheapest houses in Australia, consider browsing platforms such as Domain or Realestate.com.au. These sites provide up-to-date listings and insights into affordable housing options across the country.

My Final Thoughts

Exploring Australia’s affordable housing markets requires careful consideration of various factors, including location, employment opportunities, and property conditions. While regional and remote areas offer budget-friendly options, it’s essential to assess whether these align with your lifestyle and long-term goals.

Should you require help in steering through the competitive property market, think about engaging a professional residential buyer’s agent. They are equipped to provide tailored advice, ranging from locating the ideal suburb to acquiring your dream home.