Thanks to the booming market conditions of the past few years, buying a home in an Australian capital city for under half a million dollars has become almost impossible.
However, with a slightly more realistic budget of $600,000, you can get your foot onto the first rung of the property ladder within the major metro city limits. Here’s a look at what $600,000 will buy you across the country (try not to cry Melbournians and Sydney-Siders) …
With a budget of $600k, the average home in Melbourne’s inner city is out of reach. More practical are the outer suburbs including Mernda, Hoppers Crossing and Sunbury, where affordable family homes are abound.
To the south in Frankston this family home could be yours with change to spare from $600k. It has four bedrooms and two bathrooms, and while the décor could do with a facelift, the quiet court location and spacious alfresco area make it a winner.
And while $600,000 won’t get you big square footage in the inner east, you could buy a smaller dwelling, such as this two-bedroom apartment in Prahran. With 90m2 of internal space it’s probably not large enough for a family, but would suit a professional couple who love to shop and dine on nearby Chapel Street.
Sydney is notoriously expensive, so you won’t find much within 15km of the city. Spread your search a little further, however, and options begin opening up. Western Sydney still offers plenty of potential – and while your commute may be a bit of a trek from this three-bedroom property in Leumeah, you won’t have to suffer the mortgage stress of your inner-city counterparts! Listed with a price guide of $595,000 to $650,000, this home has a fantastic outdoor space and would be perfect for a young family.
Hoping for something a little closer to the beach? This one-bedroom apartment in Cronulla could be yours for $550,000 to $575,000. It’s modern and bright, but you won’t have room to store too many surfboards in this petite ground floor pad.
Unlike its counterparts to the south, this capital city remains quite affordable in certain pockets. Good quality homes with renovation potential are up for grabs in central suburbs like Ashgrove and Enogerra, whilst moving a little further of the CBD will stretch your budget further.
This spacious Queenslander in Boondall is up for grabs, listed at offers over $559,000. With four bedrooms, two bathrooms and room for four cars, it’s the ideal family home. It even has a fireplace – on the off chance it ever gets cold enough for you to need one!
Don’t need all that space, and would prefer to be a stone’s throw from the water? Perhaps this Woody Point cottage, bursting with charm and sitting on a prime waterfront block, is more your style. You could renovate or build your dream home in this idyllic spot for $595,000.
This city hasn’t experienced booming market conditions for a number of years, making Adelaide a bountiful smorgasboard of opportunities when it comes to house hunting!
Southern suburbs such as Clapham, Melrose Park and St Marys offer loads of potential. This gorgeous character bungalow in Clapham is due to go under the hammer, and should fetch around $600,000. Brimming with stunning original features, such as a leadlight front door and decorative dome ceiling, and on a large block, this delightful cottage should have no trouble finding new owners.
Meanwhile in the north, look no further than this Athelstone property: it is so massive that even the bathrooms are huge, and with five bedrooms, a flexible layout, and recently updated kitchen, you’ll feel at home in no time. The price guide is just $560,000 to $580,000 – what a bargain!
With a market that is still in the doldrums, you don’t have to search for long to spot good value in Perth. The inner city pockets of Victoria Park and Inglewood offer units from under half a million dollars. For those who need a home for a growing family, this Secret Harbour home (situated between Perth and Mandurah) has oodles of space and is just a short walk from the beach. The master suite downstairs is as real parent’s retreat where you can relax and escape the kiddies – it even has a projector and its own balcony!
Four bedrooms, a pool, within 25km of the city – for under $600,000? It’s something Sydney and Melbourne residents can only dream of! Yet in the Top End, it’s easier to find, such as in this Durack property. Listed at $577,000, you’ll be blown away by the lagoon-like pool area, complete with water feature. It’s also close to schools and amenities, so it’s ideal for a busy family.
The market may be taking off in our political capital, but there’s still plenty of value to be found. If you’d love to own a brand new apartment in Canberra, look no further than this boutique apartment block in inner-city Braddon. The list of inclusions is endless – stone benchtops, double glazing, Smeg appliances, secure lift access and more. Close to the Australian National University, this could be an excellent investment opportunity for those looking to become landlords.
As one of the most affordable cities in the country, there are plenty of suburbs throughout Hobart where a budget of $600k buys a happy home, including West Moonah and leafy Lenah Valley. This spacious home is listed for $575,000 to $595,000, despite offering breathtaking million-dollar views. There are three bedrooms and two bathrooms, and the living areas are cleverly zoned so everyone in the family will have a space of their own.