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Suburbs in every major Australian city where you can buy property for under $600k

If saving up millions of dollars in your piggy bank for a property in one of the Australian capitals feels impossible, fear not. Despite the soaring property prices in many Australian cities, there are still some affordable suburbs not too far from city centres where you can find property for $600,000 or less.

Safety first! Read our list of Australia's safest suburbs.

So, where are they, and just what will you be getting for your money?

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Sydney

sydney aerial view

To find property for less than $1 million in Sydney, you have to head out west. Don’t worry, not that far out west. Just well outside a 10km radius of the CBD.

In Oran Park, a large residential development an hour and half’s drive west of Sydney, you can find brand new 4-bedroom houses on the market for between $450,000 and $600,000. In Blacktown, a booming northwestern suburb of Sydney, there are 2 and 3 bedroom apartments and houses for less than $500,000 in current listings, as well as brand new units for just under $600,000. Lastly, in Campbelltown the median house price is $585,000, and you can find decent sized apartments and 2-3 bedroom houses here for around about that price.

Suburb safety has a huge impact on prices. Read our list of Sydney's safest suburbs.

Melbourne

living area yellow chair Though still rather expensive, property is somewhat more affordable in Melbourne than it is in Sydney. Hundreds of thousands of dollars will go a lot further in terms of property in the Victorian capital than in the NSW capital, but you may still have to venture outside of the CBD.

The suburb of Coolaroo is a 40 minute drive north of the Melbourne CBD, and has a median house price of just $340,000. Here you can find 2 and 3 bedroom houses for about $325,000, sometimes less if you’re lucky. Such prices could leave you with plenty of breathing room to renovate and increase the value of your property, if you want to do so.

Is safety important to you? Read our list of the safest suburbs in Melbourne.

On the western fringes of Melbourne is Tarneit, a relatively new and rapidly-growing suburb. The median house price here is $450,000, and there are contemporary 3 and 4 bedroom properties on the market here listed for less than $500,000, and sometimes less than $400,000.

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Canberra

canberra-skyline The Australian capital offers a more affordable alternative for property investors than Sydney. In Evatt, for example, a suburb 20 minutes north of Canberra central, there are 1, 2 and 3 bedroom houses on the market for $450,000 or less, and though they do tend to go for more than this at auction they still often stay below the $600,000 mark.

Even closer to the CBD than Evatt is Coombs. 15 minutes west of Canberra central, this brand new, developing suburb has stylish, contemporary 2, 3 and 4 bedroom terraces and houses currently listed for less than $600,000. At the moment there is only average demand for property in Coombs, but it’s likely that once the suburb becomes more established housing prices will go up as demand for property in the suburb increases.

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Brisbane

modern-architect-designed-house-brisbane Just as they are looking towards Canberra, investors and prospective home-owners who’ve been priced-out of the Melbourne and Sydney housing markets have been turning their attentions towards Brisbane over the last few years. Yet, while Brisbane is probably the most affordable east-coast capital, it’s by no means cheap.

Half an hour south of the CBD is Runcorn, one of Brisbane’s most affordable housing hotspots. The demand for property here is quite high, particularly among young, independent professionals, but there are 3, 4 and 5 bedroom properties on the market here for less than $600,000 that would be perfect for larger families.

Another option, Everton Park, sits about 8km north of Brisbane with a median house price of $590,500. From single-storey dwellings to dual-floor townhouses and stylish, modern homes, with 2-3 bedrooms and 1-2 bathrooms, the highly-in-demand Everton Park has something for every prospective property buyer.

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Perth

perth-skyline The WA capital has an overabundance of property, and not enough demand to meet it, so the house prices of suburbs close to the Perth CBD are significantly lower than they would be in suburbs a similar distance outside of, say, Melbourne.

For example, Yokine is just a 15 minute drive north of the Perth CBD, and is close to Edith Cowan University, parks and golf courses. Yet you’ll find nice, modern houses, villas and apartments here with 3 bedrooms or more listed for around $300,000 to $400,000.

Glendalough, just 6km outside of the CBD, is one of Perth’s most affordable suburbs. The median house price is approximately $533,000, but you can purchase spacious, 2-3 bedroom houses, units, townhouses and duplexes for less than that easily.

Looking for property in Perth? Read our list of Perth's safest suburbs.

Hobart

hobart-houses In Tasmania, the suburb of Lindisfarne lies on the eastern shores of the River Derwent, just across the way from the Hobart CBD. Given its affordability, despite its close proximity to the Tasmanian capital, it’s understandable that demand for property here is quite high (about three times the Tasmanian average). Here you can find spacious 3 bedroom properties, many with river views, with asking prices of less than $400,000, and 4 bedroom properties for between $500,000 and $600,000.

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Adelaide

living room brick wall

The suburb of Broadview is 20 minutes north of the Adelaide CBD, and is seeing quite high demand for property. Although property prices in this suburb have gone up over the last 3-4 years, it’s still quite affordable to live here. There’s quite a variety of properties available, with modern, stylish, 2-bedroom apartments listed for $300,000 or less, as well as charming, 3 bedroom bungalows for $500,000 and under.

There’s even greater demand for property (more than double the South Australian average) in Henley Beach, a seaside suburb 20 minutes west of Adelaide. You won’t get as much space for your money here as you would in Broadview, but you will have ocean views, plenty of fresh air and an easy-going community around you to make up for it. For under $600,000 you’ll mostly get 1 and 2 bedroom units, terraces and apartments, but this is a steal given the sought-after location.

Seen a for sale sign and wondering how much the property is worth? Find out with our free property report.

Darwin

typical-australian-houses-melbourne-australia Finally, in Darwin, you can find the suburb of Rapid Creek. A 15-minute drive north of the Northern Territory Capital, Rapid Creek has a lot of potential. The more modern 2 and 3 bedroom houses and units here naturally have slightly higher asking prices, around about the $500,000 mark. Slightly older properties that may warrant a little fixing up are listed more around the $250,000 mark.

Many properties here have ocean or parkland views, and with such closeness to Australia’s second fastest growing capital city, purchasing property here may prove to be a good investment in the long run.

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COMPARISON RATE WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. The comparison rates are based on a loan amount of $150,000 over a loan term of 25 years.
Lendi is the trading name of Lendi Pty Ltd, a related body corporate of your licensed credit assistance provider, Auscred Services Pty Ltd (ACN 164 638 171, Australian Credit Licence Number 442372). We will never sell your email address to any third party or send you nasty spam, promise.
EXAMPLE: This example is current as at 20th October 2016. A Click Loans Online Principal and Interest Loan of $150,000 over 25 years has monthly repayments of $767. This is calculated based on the interest rate of 3.69%, comparison rate of 3.69%, upfront fees of $0 and annual fees of $0.
IMPORTANT INFORMATION: Loan terms of between 1 Year and 40 Years are available subject to lender and credit criteria. Maximum comparison rate will not exceed 14.99% (see comparison rate warning above). Any calculations or estimated savings do not constitute an offer of credit or a credit quote and are only an estimate of what you may be able to achieve based on the accuracy of the information provided. It doesn't take into account any product features or any applicable fees. Our lending criteria and the basis upon which we assess what you can afford may change at any time without notice. Savings shown are based on user inputted data and a loan term of 30 years. All applications for credit are subject to lender credit approval criteria.
Lendi is a privately owned and operated Aussie business. Our mission is to provide Aussies with the right experience when choosing a home loan from our panel of major and non-bank lenders including Click Loans which is a wholly owned subsidiary of Auscred Pty Ltd and a related body corporate of Auscred Services, your credit assistance provider. Although Lendi compares over 1600 products from over 30 lenders, we don't cover the whole market or compare all features and there may be other features or options available to you. While Lendi is 40% owned by founders and employees, we have also been supported by some great minority shareholders including Bailador, Macquarie Bank Ltd and a number of Australian sophisticated investors. We have an independent and founder led board.
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