Housing prices in Australia are comparable to some of the world’s most expensive markets, but if you know where to look, there are plenty of affordable housing options across the country. We used data from Numbeo to find which Australian cities offered the best opportunities for house hunters who want to get in on the property market without breaking the bank.
If you’ve been putting off the idea of buying property because of the high cost, don’t despair! According to real estate Wellington NSW, many affordable housing markets exist all over the world, and Australia has some great places to buy. The top four most affordable cities to buy houses in Australia are all located in New South Wales, so if you’re thinking about buying down under, you might want to check these out before making an offer on your dream home!
1. Sydney
There are so many reasons why Sydney is an affordable city to buy a house. Sydney has historically been one of the most popular cities, with some calling it the Athens of the South Pacific. The economic slowdown that swept over countries and suburbs alike led less competition for buyers, but there are many reasons why Sydney is a great place to purchase a house. It’s scenic, serene and has beautiful beaches that you can be close to year-round. Plus, with the continual population growth coupled with increased investment, jobs opportunities for all levels of employment have not only increased but also diversified. People from all around come to enjoy and experience what life has offer here!
2. Melbourne
Of all the capital cities in Australia, Melbourne offers the best property value. With its close proximity to the country’s extensive coastline and picturesque vineyards, it is no wonder that Melbourne was recently ranked as one of the best places for young families. It is also ranked among the safest major cities with some of the world’s highest quality education institutions. All of this makes Melbourne an attractive option for homebuyers looking for a lifestyle upgrade.
3. Brisbane
This is a fantastic place to start a business – there are loads of office spaces for lease and so many coworkers around, meaning there is lots of opportunity for collaboration. There are tons of restaurants and bars on the CBD strip which makes it easy and fun to socialize with other small business owners. The property market is affordable, this is a perfect place for budding investors who want more control over their finances but don’t want the pressure of deciding what property will appreciate in value. In terms of shopping, there’s an abundance of independent boutiques along the stylish Rundle Mall precinct which offer everything from fabulous shoes & apparel to fresh seafood markets – basically everything you need!
4. Adelaide
In the suburbs of Adelaide, home prices are competitive and less than half of other Australian cities. With average house prices under $600,000 AUD (April 2018), this is the country’s most affordable city for housing. The population is on the rise with a 34% increase over the last 5 years and it’s expected that by 2030, population growth will outpace Melbourne and Sydney, making Adelaide one of the largest cities in Australia. Other affordable suburbs include Goodwood and Millswood with affordable properties priced around $300-400k AUD.