Sydney and Central Coast suburbs where homes are under $500,000

Written by in Buying on September 28, 2017

While living in a multi-million dollar property with views of the Harbour Bridge may only be achievable in your wildest dreams, you can still snap up a home of your own, within commutable distance to the Sydney CBD, if you know where to look!

With stamp duty now abolished on homes under $650,000 in NSW, buying in this price bracket has become even more accessible. Here are our top picks of the suburbs in Sydney and surrounds, where $500,000 still goes a long way…

Western Sydney

The only remaining pocket of Sydney where you’ll see house prices advertised at under half a million dollars, the Greater Western Sydney area is ideal for those looking for an affordable home, with a reasonable commute.


Located 49km from the city, Willmot has been a popular suburb for investors, and has a large contingent of rental properties. With a median of $472,000, it’s still within reach for first homebuyers. This Bass Place home has a price guide of $470,000 – $490,000, and with a large block and three bedrooms in a quiet cul-de-sac, is ideal for young families.

Facade of a home in Wilmot, NSW


Close by to Wilmott, Tregear has a median of $481,000, and you won’t need to travel into the city for your shopping, as the nearest Westfield is just a ten-minute drive away. This unit on Gauss Place would be a great buy for a first-time investor, downsizers or young couple, and is expected to sell for between $379,950 – $409,950.

Central Coast

If the western outskirts don’t float your boat, how about a home on the Central Coast? You could be in the Sydney CBD within 90 minutes for work, while your family enjoys the seachange lifestyle in a close-knit waterfront community.


Situated 76 kilometres north of the CBD, Gosford is the third largest urban area in NSW, after Sydney and Newcastle. With a median house price of $419,000, Gosford is an affordable choice for young families, and boasts the only selective-entry public high school on the Central Coast. This apartment on John Whiteway Drive has amazing views and 2 bedrooms, and is listed at just $488,000.

Mannering Park

A 95-minute commute to Sydney, Mannering Park has a median sale price of $450,000, and would make an ideal seachange for those who enjoy sailing or fishing. A price guide of $410,000 – $450,000 makes this 3 bedroom home in Ravenswood Street a great option for first homebuyers, and it’s also within walking distance to shops, schools and saltwater Lake Macquarie!


If you enjoy golfing, sandy beaches and watersports, a home in Doyalson can offer all this, and more! The suburb’s median price is just $455,000, an absolute bargain considering it’s less than an hour and a half drive from Sydney. This home, in the Macquarie Shores Lifestyle Village, is ideal for retirees looking to downsize, and is listed with a guide price of $330,000 – $350,000.

Facade of a home in Doyalson, NSW


The name Gorokan means “the morning dawn” in the language of the local Aboriginal people, and this lovely suburb, close to the beach, is a great place to raise a family. With three bedrooms, two bathrooms and a updated kitchen, this home on Ruby Street, listed at $449,000, has views to Birdie Island and is ready to move in, no renovations required.

Lake Haven

A little over 90 kilometres from Sydney, and around 50 kilometres south of Newcastle, Lake Haven is the perfect spot for anyone planning to commute to either city. The median house price is just $472,000, and there’s a well-equipped local shopping centre to meet all your needs. This gorgeous home in Bensley Close has four bedrooms and two bathrooms, and is a great example of what you can expect to score around the $500,000 mark at auction in Lake Haven.

Facade of home in Lake Haven, NSW


With a name that means “house befitting heaven” in Hawaiian, Halekulani is an idyllic location, yet has a median house price of just $475,000. This unit on Sunrise Avenue is the ideal seachange for retirees, and is within walking distance to amenities. And priced at just $250,000 – $270,000, it’s a real bargain!


Watanobbi has seen extensive home building and infrastructure development in recent years, yet remains an affordable option with a median of $481,000. Situated around 100km from Sydney, you could be in the CBD within an hour and a half during the week, while still enjoying your weekends in the friendly atmosphere of this small, safe community. This three-bedroom home on Hasluck Drive is selling for $430,000 to $470,000, and is on a large corner block with plenty of room for the kids to play.

Facade of a home in Watanobbi, NSW