Looking for the suburbs where median house prices are under $200,000?
Don’t worry, a lot of us are.
And as Australia’s housing crisis begins to ease in some capital cities, regional areas are where people are looking to to find more affordable homes.
Recent data shows that Melbourne, Canberra, and Hobart experienced price declines, while regions like Queensland and South Australia are seeing sustained demand.
With increasing inventory and a slowing in rent rises, the market may be stabilising, providing a window for buyers to act.
These locations offer a true bargain for those looking to get into the market or secure an investment property.
With median house prices below or around $200K, these suburbs are drawing interest from buyers priced out of the capital city markets.
Queensland
1. Tara – $180,000
Located in Queensland’s Western Downs, Tara offers some of the most affordable homes in the state. Buyers looking for a peaceful lifestyle without the price tag of Brisbane are increasingly drawn to this bargain suburb.
2. Charleville – $177,500
Known for its relaxed outback lifestyle, Charleville remains an affordable choice for first-home buyers. Its proximity to regional hubs makes it attractive to those priced out of Brisbane’s median.
South Australia
3. Peterborough – $170,000
One of the most affordable suburbs in South Australia, Peterborough offers great value for buyers looking to escape the rising house prices in Adelaide. Its historic charm and low median house price make it a popular option.
Victoria
4. Ouyen – $195,000
Situated in Victoria, Ouyen is a great option for those priced out of Melbourne’s suburbs. It offers an affordable median property price and a slower-paced lifestyle in regional Australia.
Tasmania
5. Zeehan – $200,000
Zeehan’s median house price is among the most affordable in Tasmania, providing an excellent opportunity for buyers looking to invest in a region that is becoming increasingly popular.
6. Queenstown – $196,500
Another Tasmanian suburb, Queenstown, has seen slow but steady price increases in recent years.
As the housing market continues to ease in larger cities like Melbourne, regional areas like Queenstown remain a bargain for buyers seeking more affordable homes.
Western Australia
7. Mount Magnet – $62,500
With the lowest median house price on the list, Mount Magnet offers incredible affordability in a remote part of Western Australia.
Investors looking for long-term opportunities may find value here, especially as demand continues to push prices up in the surrounding regions.
New South Wales
8. Coonamble – $210,000
Though slightly above $200K, Coonamble’s price drop of -9.1% in the past year makes it a strong contender for buyers on a budget.
Housing affordability pressures in Sydney have led more buyers to explore regional areas like Coonamble.
More About Suburbs Where Median House Prices Are Under $200,000
Which Australian city has the cheapest houses?
You can find the cheapest houses in Australia in cities like Adelaide and Perth. Although the property prices in both cities are on the rise as more people discover their liveability.
You can explore more affordable cities in Soho’s guide, The Cheapest Places to Live in Australia.
What suburb in Australia has the highest median house price?
The suburb with the highest median house price in Australia is Bellevue Hill, NSW. The prestigious area in Sydney’s eastern suburbs has a median house price of $9.6 million at the moment.
Read more about Australia’s Most Expensive Suburbs in Soho’s guide.
What is the Australian median house price?
As of June 2024, the Australian median house price is $959,300. This is according to the ABS Total Value of Dwellings.
What is the average price of a house in New South Wales?
As of June 2024, the average price of a house in New South Wales $1,222,000.
