In 2024, finding affordable homes in Sydney under $500,000 remains a significant challenge. The city’s property market continues to test buyers with its high prices, even after a tumultuous few years of economic shifts. The Reserve Bank’s multiple rate hikes and the persistent inflation have kept the market competitive.
Despite these challenges, Sydney’s real estate remains attractive, with some areas experiencing growth and stability.
If you’re determined to own a home in this vibrant city, there are still pockets of affordability. We’ve pinpointed five suburbs where you can find houses (not apartments) under $500,000. These areas offer a more budget-friendly entry into the property market while still providing a comfortable lifestyle.
So, where does this leave Sydney people wanting home ownership?
Pretty much exactly where they were months ago—fighting for the great Australian dream that is living in a big, beautiful house.
So to get you started on your property journey, we’re taking you to some of the cheapest suburbs in Sydney where we’ve found 5 houses (not apartments!) under $500,000.
Related articles:
- The 6 Cheapest Suburbs in Sydney
- Who Has the Cheapest Rent in Australia?
- Top 10 Most Expensive Suburbs in Sydney
Where are the cheapest suburbs in Sydney to buy a house?
Here’s a quick look at the five suburbs where you can find houses under $500,000:
| Suburb | Median House Price |
|---|---|
| Marsden Park | $1,150,000 |
| Mount Druitt | $935,000 |
| Liverpool | $950,000 |
| Tregear | $630,500 |
| Bidwill |
But if you’re looking for luxury homes to get inspired, our most expensive houses Sydney edition lists the most spectacular properties on the market.
Marsden Park NSW
- Price guide: $300,000
- Median house price: $1,150,00
- Median price change over the past year: 30.09%
Live the laid-back lifestyle you’ve been dreaming of in this spacious three-bedroom (or two-bedroom and a study) home nestled within the renowned Ingenia Lifestyle Stoney Creek gated community.
This idyllic abode offers comfort and convenience with an enclosed outdoor entertainment area and a garden shed. Enjoy the complex’s top-notch amenities before retreating to your peaceful residence.
Surroundings
Ingenia Lifestyle Stoney Creek is located in Marsden Park, within the thriving northwest growth corridor. This over-55s community is pet-friendly and features an onsite manager, providing peace of mind and a secure living environment.
Residents can take advantage of nearby bustling shops, restaurants, and amenities, with Sydney CBD just a 40-minute drive away.
Amenities
- Spacious three-bedroom home (or two-bedroom and a study)
- Enclosed outdoor entertainment area
- Garden shed
- Access to complex pools, gym, and barbeque facilities
- Immaculate gardens within the community
- Gated, pet-friendly community with onsite manager and Land Lease Site Agreements
Nestled in a sought-after blue-chip location, this exquisite 4-bedroom residence offers a serene living environment with enormous potential for residential development (S.T.C.A.).
The original family home boasts spacious bedrooms, sun-filled living and dining areas with split air-conditioning, and a functional dine-in open-plan kitchen with plenty of storage. The generous, low-maintenance backyard features a single lock-up garage, making it perfect for family living.
Located just a short 5-minute walk from the Bankstown shopping precinct, train station, buses, local schools, and parks, this property offers unparalleled convenience. Bankstown’s vibrant community and excellent public transport links make it an ideal choice for families and professionals seeking both tranquility and accessibility.
Amenities
- Spacious sun-filled living and dining areas with split air-conditioning
- Functional dine-in open-plan kitchen with ample storage
- Generous low-maintenance backyard
- Single lock-up garage
- Short walk to Bankstown shopping precinct, train station, and local schools
- Potential for residential development (S.T.C.A.)
Check out more properties for sale in Marsden Park.
Mount Druitt NSW
- Price guide: $500,000
- Median house price: $935,000
- Median unit price: $420,000
- Median price change over the past year: 20%
Nestled within a quiet cul-de-sac on a sun-drenched 343sqm parcel, this dual-storey residence combines multiple living areas with three bedrooms and private alfresco entertaining.
The welcoming interiors are designed to embrace a north-to-rear aspect, allowing for a seamless transition between indoor and outdoor living. This property, holding a highly sought-after address, is within a short walk of Rooty Hill Masjid and the Australian Islamic College of Sydney.
Surroundings
Located in Mount Druitt, this home is situated within a family-oriented cul-de-sac. The area boasts close proximity to Elizabeth Jonsson Reserve, Westfield shopping center, cinemas, and an array of dining options, providing both convenience and a vibrant community atmosphere.
Amenities
- Front lounge room with plush carpet floors, highlight windows, and air-conditioning
- Additional living/dining space with an open concept layout and easy outdoor flow
- Pergola-covered alfresco deck for entertaining or hosting gatherings
- Enclosed, child-friendly wraparound backyard and established front garden
- Well-maintained kitchen with gas appliances, a dishwasher, and a breakfast bar
- Three double bedrooms with built-in robes, master with a walk-in wardrobe
- Master ensuite with shower; main bathroom with combined bath and shower
- Single lock-up garage with internal access; internal laundry with backyard access
- Walking distance to Rooty Hill Masjid and the Australian Islamic College of Sydney
Check out more properties for sale in Mount Druitt NSW 2770.
Liverpool NSW
- Price guide: $480,000 – $520,000
- Median house price: $950,000
- Median unit price: $475,000
- Median price change over the past year: 12.28%
Welcome to this modern and stylish apartment located at 30/42-44 Hoxton Park Road, Liverpool. This property offers a perfect blend of comfort and convenience in the heart of one of Sydney’s vibrant suburbs.
Featuring 2 bedrooms with built-in wardrobes, the master bedroom boasts a private ensuite. The open-plan kitchen and living area create an inviting atmosphere for both relaxation and entertainment, while the private balcony is ideal for enjoying your morning coffee or evening downtime.
Surroundings
Situated in Liverpool, this apartment offers easy access to a range of amenities. It is close to shops, restaurants, schools, and public transport, making daily commutes effortless.
Key locations nearby include Westfields Liverpool, Liverpool Hospital, Liverpool Train Station, Liverpool West Public School, and Ashcroft High School.
Amenities
- 2 bedrooms with built-in wardrobes
- Master bedroom with private ensuite
- Open-plan kitchen and living area
- Private balcony for relaxation
- Close to shops, restaurants, and schools
- Easy access to public transport
Check out more properties for sale in Liverpool.
Tregear NSW
- Median house price: $630,500
- Median price change over the past year: 7.93%
Introducing this modern tri-level townhouse at 2/9 Gauss Place, Tregear. Featuring three good-sized bedrooms, all with built-in wardrobes, and a stylish cathedral ceiling, this property exudes charm and functionality.
The updated kitchen boasts granite benchtops, electric cooking, and a twin stainless sink. The home includes a neat internal laundry, a powder room on the lower level, and a main bathroom with a combined bath and shower on the upper level.
The great-sized backyard adds to its appeal, making it an ideal investment property with a long-term tenant currently occupying the dwelling.
Surroundings
Situated in a convenient location, this townhouse is within walking distance to local shops and Tregear Public School. It’s just a short drive from Mount Druitt CBD and train station, St Marys CBD and train station, and Plumpton Marketplace, providing easy access to shopping, dining, and transport options.
Amenities
- Three good-sized bedrooms with built-in wardrobes
- Cathedral ceilings for a touch of class
- Updated kitchen with granite benchtops and electric cooking
- Neat internal laundry
- Powder room on the lower level
- Main bathroom with combined bath and shower upstairs
- Great-sized backyard
- Walking distance to local shops and Tregear Public School
- Close to Mount Druitt CBD, St Marys CBD, and Plumpton Marketplace
Discover more properties for sale in Tregear NSW.
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FAQ Section on Cheapest Houses For Sale in Sydney Under $500,000
What is the cheapest place to buy a house in Sydney?
The most affordable areas for purchasing a home in Sydney typically include outlying suburbs where prices are significantly lower compared to the city center.
Suburbs like Lethbridge Park, Oxley Park, and Whalan offer homes with median prices starting at around $650,000, which is below the median for Sydney overall.
Which state in Australia has the cheapest housing?
Western Australia and Queensland are known for their relative affordability. These states have a number of regions where homes are accessible to those with median incomes. Perth, in particular, boasts the most affordable capital city regions in the country.
What is the average home price in Sydney, Australia?
As of the most recent data, the median home price in Sydney is A$1.16 million. This figure aligns with record highs set in previous years, indicating a consistent upward trend in property values across the city.
Can foreigners buy property in Sydney?
Foreign nationals are generally restricted from purchasing existing residential properties in Australia. Exceptions are made for temporary residents or investors who obtain approval from the Foreign Investment Review Board (FIRB).
