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Where to Buy a House in Sydney Under $1.5 Million

October 15, 2024

Key takeaways:

  • You can find houses under $1.5 million in Sydney suburbs like Belmore and Kingsgrove, with strong community vibes and growth potential.
  • Arncliffe, while slightly above $1.5 million, offers proximity to the city, parks, and beaches, making it a valuable investment for the future.
  • Coastal areas like Ramsgate Beach and Brighton-Le-Sands offer affordable unit options under $1.5 million, perfect for beach lovers.
  • Suburbs with strong transport links and family-friendly amenities are your best bet for buying a home within budget in Sydney.

Sydney’s real estate market is among the most expensive in the world. Still, if you’re trying to find where to buy a house in Sydney under $1.5 million, you might find some potential in Belmore and Kingsgrove.

Many suburbs in Sydney offer affordable housing options without compromising on lifestyle. This article will provide a comprehensive guide on where to buy a house in Sydney under $1.5 million.

We’ll cover the top suburbs that offer affordable housing options for first-time home buyers, growing families, and investors. The article will also highlight the key features of each suburb, such as proximity to amenities, transportation, schools, and parks.

Top Picks for Suburbs in Sydney Under $1.5 Million

Looking to buy a house in Sydney under $1.5 million? Here are some top picks for suburbs that offer growth potential, a strong community feel, and coastal charm.

Highlighting Suburbs with Potential for Growth

Arncliffe is a suburb that has been identified as having growth potential. At the time of writing, the median house price in Arncliffe is $1,700,000.

Belmore and Kingsgrove are also suggested as areas with growth potential. For more detailed and recent data, consulting a local real estate agent or market reports could provide the latest figures.

However, Here are the key features of these suburbs:

Arncliffe:

House for sale in Arncliffe NSW
  • Median house price: $1,700,000
  • Median unit price: $740,000

Known for its neighborly spirit and public transport accessibility, Arncliffe is appreciated for its parks and recreation, and residents speak highly of its cost of living.

It is considered a hidden gem due to its proximity to the airport, beaches, and the wonderful cafes along Brighton Beach.

The suburb has a mix of dwelling types and plenty of parks, along with a convenient location being only 15 minutes by train to the city. It also offers a variety of shops and schooling options​.

However, if you are curious about where Sydney house prices are dropping, you may want to investigate further as it could influence where you find value for your investment.

Belmore:

House for sale in Belmore NSW
  • Median house price:  $1,600,000
  • Median unit price: $595,000

This metropolitan area is within 30 minutes of the CBD and boasts great shopping and transport links. Residents have noted its central location, with easy access to the M5, the CBD, and the airport.

The main street, Burwood Road, showcases an array of small businesses reflecting the Greek and Lebanese communities. Belmore carries an old-world charm with period art-deco style shop buildings and is home to the Canterbury Bankstown Bulldogs NRL rugby League team’s Leagues club​.

Kingsgrove:

House for sale in Kingsgrove NSW
  • Median house price: $1,865,000
  • Median unit price: $650,000

This suburb is praised for its internet access, neighbourly spirit, and available childcare, making it great for families and professionals alike.

The public transport system is also noted as a strong point for the suburb, enhancing its connectivity. Kingsgrove has evolved rapidly over the years, with new complexes bringing in amenities such as trendy cafes and shops.

The suburb has a mix of residents including professionals, families, retirees, and singles, indicating a diverse community.

Moreover, Kingsgrove is recognized for its tasteful housing, tree-lined streets, and proximity to major schools, shopping centers, and transport services, making it an attractive option for those looking to move closer to the city​

Suburbs with a Community Feel

Where to buy a house in Sydney under $1.5 million?

Sydenham offers a strong community feel, making it an attractive option for those looking for a sense of belonging. It’s important to note that the median price in nearby Marrickville has surpassed the $1.5 million mark, making Sydenham an increasingly attractive option for those looking to stay under the $1.5 million threshold.

“Dulwich Hill is close to the city and offers a range of ethnic grocery options and restaurants. It features sport facilities, parks, recreation areas and a great community vibe.”

Residents have always felt extremely safe and highlight the community spirit as second to none, with the suburb providing a village atmosphere and the benefits of inner-city living​.

Coastal Gems

Monterey, Ramsgate Beach, and Brighton-Le-Sands are coastal areas that offer attractive living options. These areas have been noted for their coastal charm, with the implication that unit medians are below $1.5 million.

Monterey:

  • Median house price: $2,460,000
  • Median unit price: $780,000

While it isn’t easy to find a coastal suburb under $1.5 million in NSW, you might have better luck with units. Most of these coastal suburbs, like Brighton-Le-Sands and Kyeemagh are pushing the $1.8 million mark in median house price – but this just means you can still find houses under $1.5million if you look hard enough.

Recognised for its clean and green environment, neighborly spirit, and its safety, Monterey is great for dining out. It sits on the western shores of Botany Bay and is noted for its wide streets and quiet surrounds. While the median house price is above $1.5 million, it retains strong resale or rental value.

With family-oriented demographics, it offers beach access and parklands, contributing to its appeal as an exclusive and tightly held suburb. The small group of shops on Chuter Avenue adds to its residential charm​.

Ramsgate Beach:

  • Median house price: $1,100,000
  • Median unit price: $665,000

Known for its parks and recreation as well as for its high resale or rental value, Ramsgate Beach is considered safe and well-maintained. Units are more popular than houses here.

It’s an area that’s appreciated for its gym and fitness facilities, and its clean, green environment. The suburb attracts a range of demographics, including families, retirees, and professionals.

Residents enjoy the landscaping and the local council’s efforts to improve the foreshore. The suburb also boasts landmarks such as Lady Robinsons Beach and Cook Park, with a plaza that serves as a local hub.

“The area is appealing for its bay-side living, close proximity to the city, and its potential for capital growth​.”

Brighton-Le-Sands:

  • Median house price: $1,927,500 
  • Median unit price: $815,000

This suburb offers excellent public transport and a plethora of dining options, enhancing its livability. It is also appreciated for its clean and green environment, and the availability of parking and internet access. Brighton-Le-Sands is populated by professionals, families, beach lovers, and those who are fashion-conscious.

It is an under-appreciated gem for outdoor recreation, with clean beaches suitable for paddling, cycling paths, and plenty of green spaces. Despite being close to the airport, the area has very little aircraft noise. However, public transport is not as comprehensive as in some nearby areas, and some locations can be noisy​.

Suggested reading: Discover more essential tips on buying a house in Sydney in our comprehensive guide. Don’t miss out on this crucial information as you navigate the Sydney housing market.

FAQs on Where to Buy a House in Sydney Under $1.5 Million

How will I ever afford a house in Sydney?

To afford a house in Sydney, particularly in areas like the eastern suburbs, a couple may need to earn around $308,000 each to afford a home with a median price of $3.7 million. Affordability remains a challenge for many buyers, especially in prime locations.

Where in Australia are houses the cheapest?

The cheapest houses in Australia can generally be found in regional and rural areas, especially in states like Western Australia, Queensland, and South Australia. These areas offer more affordable options compared to cities like Sydney.

Is it worth investing in property in Sydney?

Yes, Sydney has long been one of the top property markets in Australia for investors. The city’s population growth, economic strength, and limited land supply have made it a strong long-term investment option.

How much should I save to buy a house in Sydney?

A 20% deposit of the house’s value is a good target to aim for when buying in Sydney. However, if you have a smaller deposit, you may need to take out Lenders Mortgage Insurance (LMI), which will increase your loan costs and repayment period.

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