If you are looking to buy land in Australia it is important to keep in mind the type of property you want to buy. You can find the perfect cheap land for farming, commercial real estate, cheap coastal land for sale in NSW, and even the perfect spot to build a house. But, where is the cheapest land to buy right now?
The Australian government estimates the value of properties using unimproved value. This is the value of the block of land according to its location, demand, and highest and best use, as stated in the Crown Lease purpose clause.
Furthermore, this value does not include any improvements on the land, such as buildings, landscape gardening, paths, and fences.
Overall, the cheapest farmland for sale to find in Australia is located in the eastern Wheatbelt region. However, if you’re looking for residential real estate, places like Andamooka, Norseman, and Mount Magnet are good places to look.
Land near the beach will be pricier, but you can still find cheap coastal land for sale in certain parts of Queensland like Mission Beach and Golden Beach in Victoria.
Continue reading to learn more about these places and why they’re the cheapest land to buy in Australia.
Cheapest farmland for sale
There has been a rapid rise in land prices in recent years that has caused a stir amongst many landowners and prospective landowners.
Since Australia is home to large areas of land dedicated to agriculture and farming, many are looking to purchase land to expand their farms or take on new ventures.
Bourke, NSW
Median land price: $103/ha
If you’re looking for cheap land for sale in NSW, we recommend starting in Bourke. Bourke is located in the North-West of New South Wales. It is about 800 kilometres northwest of Sydney, the state capital, on the south bank of the Darling River. Bourke was once a river port and trading post.
However today, Bourke is an outback town famous for welcoming travellers. It is also a great place for relaxing and discovering heritage landmarks and indigenous cultures. Furthermore, Bourke is also known for outdoor adventures in the nearby national parks.
The 2022 Rural Bank Farmland Values Report estimated the average price of farmland in Bourke has been increasing by 5.3% over the past five years.
Recommended reading: our round up of cheap houses for sale in NSW under $100,000 will give you a good idea of the affordable property market across the state.
Discover more properties for sale in Bourke.
Cooyar, QLD
Median land price: $120/ha
The median price of land in Queensland has been increasing by 19.2% over the past five years.
Queensland expands over 1,852,642 square kilometres with a diverse range of climates and geographical features. Queensland also borders the Coral Sea to the East. Meanwhile, to its west, Queensland borders the Northern Territory and New South Wales to the South.
Cooyar, Queensland is a small town located about 50 kilometres north-west of Toowoomba. It’s also where you might find the cheapest land for sale in QLD. Despite its small size, Cooyar is known for its affordable land prices, making it a great option for those looking to purchase land in Australia. With a population of just over 200 people, Cooyar offers a peaceful rural lifestyle.
The town is surrounded by picturesque countryside and is just a short drive away from the Bunya Mountains National Park. Additionally, Cooyar offers easy access to larger towns and cities such as Toowoomba and Brisbane.
Check out more land for sale in Cooyar QLD.
The Shire of Yilgarn, WA
Median land price: $425/ha
Yet another area with affordable land is The Shire of Yilgarn. It is located in the eastern Wheatbelt region of Western Australia. Furthermore, it is about 400 kilometres east of Perth, the state capital. Moreover, the main industries in The Shire are mining and farming.
You can also find cheap acreage for sale in WA in suburbs like Katanning and Quairading.
Discover more properties for sale in South Yilgarn.
Cheapest residential land for sale
Real estate prices vary in residential areas for a variety of reasons. Some of the reasons include safety, available schools, recreational activities, crime rates, and cultural diversity.
Therefore, when purchasing land for building homes, you must keep an eye out for great deals.
Andamooka
Median house price: $20,000
On the hunt for cheap land for sale in South Australia? You can start here. Andamooka is a town located 600 km north of Adelaide in the far North of South Australia. Furthermore, it is a town with a big heart and a rich and colourful history. Additionally, the opal industry in Andamooka has been the main focus since the discovery of opal in 1930. You can also buy vacant land in Andamooka.
Discover more properties for sale in Andamooka.
Norseman Western Australia, WA
Median house price: $47,500
Norseman is a town located in the Goldfields-Esperance region of Western Australia. This magnificent town with its wide open spaces and vast property. Norseman is also among the cheapest places to buy land. Norseman has several attractions including the Bromus Dam, making it a worthwhile visit. Moreover, it is known for its thriving gold mining operations.
Discover more properties for sale in Norseman.
Mount Magnet, WA
Median house price: $48,500
Mount Magnet is located in the Midwest region of Western Australia. The reason behind its name is that the hill has a very high iron content, which often messes with explorers’ compasses. It is also famous as one of the original gold mining towns. Furthermore, it has a small population of about 580 people.
Discover more properties for sale in Mount Magnet.
People also ask
Where is the cheapest land in Western Australia?
The Shire of Yilgarn in Western Australia’s eastern Wheatbelt region is the most affordable area to buy farmland for sale.
Is it worth buying land in Australia?
Yes, purchasing land is a low-cost, long-term investment that will bring a high return. You can find cheap bush blocks for sale in Victoria, NSW and all the other states as an investment and turn it into a beautiful piece of rural property.
Also check out land for sale in Sunshine Coast which offers plot in a range of prices to find one that suits your budget best.
Can foreigners buy land in Australia?
To buy land in Australia, you must typically be a permanent resident or citizen. But don’t worry, foreigners can still purchase property as long as it is classified as an investment and you have government approval.
