Did you see? The demand for cheap houses for sale in rural Victoria has recently seen a huge spike. And we think we know why.
Before the interest rate raises started in May 2022, the interest rates were at a record-low 0.1%. Happy renters were suddenly seriously considering buying their first home because it was finally financially within their reach, and the Melbourne real estate market exploded. The best places to live in Victoria were getting even pricier.
Then, when the RBA continued to increase the rates, avid first home buyers got spooked. Living centrally became unaffordable once again, but the desire of home ownership was still there.
So what do you do when you want to buy a house but can’t afford the hefty price of city-living? You consider the regions. And, if you’ve already looked into the cheapest houses in Victoria, we’re coming in with our round up of cheap houses for sale in rural Victoria.
Don’t give up on your dreams just yet! These 7 affordable houses will inspire you to head out of the pricey hustle and bustle and into the regions.
Like a house but it’s been sold? Just set up your match profile on Soho and add the suburb to your interested areas. We’ll send you new listings as soon as they become available!
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Greater Shepparton VIC
Price guide: $275,000 – $285,000
Suburb median house price: $438,750
Shepparton is a quintessential rural town. Over the years, it’s seen growth not only in the population but the infrastructure. With shopping malls, cafes and restaurants coming it, it’s become more a hub than an isolated town.
If you’re open to a fixer-upper we’ve got the ideal home for you. At first glance, this property may be a little rough around the edges. But with a bit of attention to the backyard and kitchen, you can move into your dream home or rent it out for more than the current price.
Price guide: $248,000 – $263,000
This quaint 2-bedder is located on a convenient street near the Shepparton CBD. There’s a large kitchen space both for dining and storage, and when you step outside, a front yard and generous sized workshop await the handyman.
See more homes for sale in Shepparton.
Mooroopna VIC
Price guide: $295,000 – $320,000
Suburb median house price: $395,000
Mooroopna is approximately 150 km north of Melbourne. It is the largest town in the Shire of Campaspe, with a population of over 10,000 people.
Mooroopna is a relatively affordable place to live, with median house prices well below the Victorian average. The suburb also has a good range of rental properties available, making it a good option for people on a budget.
In terms of liveability, Mooroopna offers a variety of amenities and services, including schools, shops, restaurants, and cafes. The town also has a number of parks and recreation areas, making it a great place to raise a family.
One of the main benefits of living in Mooroopna is its proximity to Shepparton, the largest city in northern Victoria. Shepparton offers a wider range of amenities and services, as well as more employment opportunities.
See more houses for sale in Mooroopna.
Wodonga VIC
Price guide: $360,000
Suburb median house price: $529,000
Situated in a modern, good-looking block is this 3-bedroom house for sale in rural Victoria.
What’s Wodonga like? Locals will say it’s a pleasant suburb, with enviable greenery, decent shopping and pubs and restaurants. Some will compare it to Albury, the neighbouring suburb, which has similar and potentially more cultural offerings.
Price guide: $345,000
This house is conveniently located within a short walking distance to central Wodonga, schools, and convenience stores. It features a large open plan living area that is filled with natural light, making it a perfect space for first home buyers, downsizers, or investors.
See more properties for sale in Wodonga.
Warrnambool VIC
Price guide: $340,000 – $360,000
Suburb median house price: $612,500
Residents of Warrnambool will tout its liveability. From the nearby beaches offering coastal living, to verdant gardens speckled throughout the neighbourhoods, you’ve got great nature at your doorstep.
When it comes to nature’s offerings, this property is also in easy access—the beautiful Hopkins river sits just nearby where locals love to fish. Step onto the property and you can continue to enjoy the temperate weather in the alfresco areas.
Price guide: $465,000
Located in close proximity to both the CBD and the beach, this brick unit provides a perfect blend of convenience and lifestyle. It offers excellent value for money and a motivated seller, making it an attractive prospect.
Moreover, the unit presents a great potential to customize and make it your own. So, let your design mind run free.
Check out more houses for sale in Warrnambool.
Where are the cheapest houses to buy in Australia?
When we wrote about the cheapest houses in Australia, the most affordable properties were found scattered throughout the country. From Queensland to the Western Australia, here’s where you might find the most budget-friendly homes:
How much is a hectare of land in Victoria?
According to a report from Rural Bank Australia, the current price per hectare of land sits at around $3,092 per hectare. Since this statistic dates back to 2020, it’s likely that the price has grown since.
From the year before the report, in 2019, the median price per hectare has increased by 31.9%.
Where is the cheapest housing in Melbourne?
According to Soho’s article on the cheapest suburbs in Melbourne, some of the most affordable housing in this capital city can be found in Melton, Tarneit, Coolaroo, Dallas and Hoppers Crossing, to name a few.
Read our article to check out the rest!
Liked our round up of cheap houses for sale in rural Victoria?
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