Australia’s most affordable suburbs

Real Estate

Team MONEYME|02 November 2022| 2-minute read

The median house price in Sydney might still be hovering around $1 million. However, that’s not the story all over in Australia. In fact, there are still towns where you can buy a house for less than $30,000.

Here, we delve into Australia’s most affordable suburbs—by median house price.

Australia’s most affordable suburb: Andamooka, South Australia

You’ll find the 300-strong town of Andamooka 600 kilometres north of Adelaide, on Kuyani and Kokatha Country. It’s best known for its opals and incredible views of the stars.

But what’s less known is that Andamooka is the most affordable town in Australia, with a median house price of $20,000.

Second and third places

The next two most affordable stops are in Western Australia. In second place is Norseman, which lies 700 kilometres east of Perth and is the state’s gateway to the Nullarbor Plain. The median house price here is $47,500.

Mount Magnet, around 600 kilometres northeast of Perth, is a close third at $48,500. It’s the oldest gold mining town in Western Australia.

The rest of the top 10

The remaining spots in the top 10 are as follows:

4. Augathella, Queensland, $55,000

5. Menindee, New South Wales, $60,000

6. Morawa, Western Australia, $60,000

7. Coober Pedy, South Australia, $61,500

8. Swan Bay, New South Wales, $65,000

9. Gin Gin, Queensland, $66,250

10. Collarenebri, New South Wales, $70,000

Growth and decline: trends

Of the towns in the top 10, Menindee experiences the highest rate of average annual growth, at 24%. Among its drawcards are the Menindee Lakes, which attract visitors for their prolific bird life, particularly black swans, pelicans, ducks and egrets, and the town’s connection to history. It was the first European settlement on the Darling River.

Another town with high average annual growth is Collarenebri, at 18.2%. It lies 700 kilometres northwest of Sydney, near Lightning Ridge, which attracts a steady stream of visitors each year for its black opals and artesian baths.

Key takeaways:

• Many country towns in Australia still offer affordable real estate.
• The most affordable is Andamooka, South Australia, with a median house price of $20,000.
• In second and third places are Norman, at $47,500, and Mount Magnet, at $48,500, both in Western Australia. – Of the 10 most affordable towns, Menindee has the highest annual average growth, at 24%, followed by Collarenebri, at 18.2%. Both are in New South Wales.

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