What $500,000 buys you around Australia, from a studio to an acreage

For those of us who aren’t looking at dropping $1 million on an entry-level property,  it might be worth taking a gander at what you nab for about half that amount.

Starting in the cities, let’s see how far $500,000 stretches around the country.

20/78 Oxford Street, Collingwood, Melbourne
Private sale: $480,000

This one-bedroom, one-bathroom apartment in the old Foy and Gibson Woollen Mills is close to the bars, cafes and restaurants of Smith Street, as well as being just a short hop to the CBD.

It also comes with modern interiors and a car space. The median price for an apartment in Collingwood is $557,500.

15/147 Brougham, Street, Woolloomooloo, Sydney
For sale $415,000

Right in the centre of town, this studio offers “a breathtaking city skyline from just outside your front door”. That’s right – views from the front step!

Light and bright, it’s in a small block with a separate bed area. The median unit price for Woolloomooloo is $900,000.

504/491 Wickham Terrace, Spring Hill, Brisbane
Offers over $499,000

You get a bit more bang for your buck in sunny Brisbane, with this two-bedroom, two-bathroom apartment in Spring Hill.

It’s got a balcony and patio, city skyline views, two car spaces, and it’s close to the CBD.

18 Hume Street, Adelaide
$500,000-$550,000

Meanwhile, in Adelaide, if you’re willing to stretch your budget a bit, there’s a two-bedroom 1880s-era cottage up for offer.

With a modern kitchen and bathroom, it’s close to the Hutt Street precinct, and not too far to Rundle Mall.

383 Wright Street, Cloverdale, Perth 
$450,000

About a 20-minute drive from the Perth CBD, this three-bedroom 1960s character cottage has been renovated and is ready to go.

With floorboards, solar panels, a new roof, a white picket fence, it’s about 5 kilometres from the airport.

13 Karoola Ave, Kingfisher Shores, NSW
$400,000-$440,000

Ready for life by the lake? This two-bedder on the edge of Lake Macquarie is on a large block with plenty of storage underneath, and room to park the boat.

The two-level home has well-kept interiors with a modern kitchen and it backs onto a reserve. It’s about an hour and 40 minutes’ drive to Sydney, or a bit under an hour to Newcastle.

1 High Street, Rydal, New South Wales
$460,000

In a quiet village about a two-and-a-half-hour drive west of Sydney, this cottage is surrounded by the lovingly created International Friendship Sculpture Garden, by artist Antony Symons.

The quaint country cottage has three bedrooms, with 1616 square metres of space around it to explore, relax, and get away from it all. Fittingly enough, there’s also a workshop and studio for getting your hands dirty.

33-55 Nandabah Street, Rappville, NSW
$465,000

Ever wanted to buy a pub? This beauty, about two hours from the Gold Coast, is set on a pretty big block, with a full bar and some nice views from the verandah.

It’s recently been renovated and, as the listing notes, has additional scope for use as a private residence, Airbnb, general store, wedding venue or camping ground.

7 Shadforth Street, Oxley, Victoria
$420,000

Once a Protestant Hall, this cute one-bedder in the village of Oxley, on the outskirts of Wangaratta, has had a top-notch renovation.

It was being run as boutique accommodation, but could also be your “holiday everyday” kind of home.

91 Clunes Road, Creswick, Victoria
$390,000-$410,000

This very blue, very cute three-bedroom cottage is just over an hour and a half’s drive north west of Melbourne, 20 minutes from Ballarat and half an hour from Daylesford.

It’s got all period trappings with floorboards, leadlight windows, pressed ceiling, a cottage garden and a white picket fence – and a very modern NBN connection. Creswick itself has a median house price of $367,500.

4/59 Esplanade, Golden Beach, Queensland
$405,000

For those keen on gazing out onto the water, this affordable two-bedroom, older-style Sunshine Coast apartment has views from the balcony, with the ocean just across the road.

In a small complex of six units, it’s about an hour and 20 minutes’ drive from Brisbane.

Golden Beach has a median apartment price of $452,500, up 9 per cent over the past year.

19 Law Street, Cairns North, Queensland
$425,000

In the hunt for some Queenslander charm? This high-set three-bedroom home is set on a large 860-square-metre block, with a big living and dining area.

It’s also close to the Cairns CBD and airport. The Cairns region posted a median house price of $392,000 in the second quarter of 2019.

14 Jeffs Street, Kapunda, South Australia
$495,000-$515,000

Built in the 1880s, this three-bedroom historic homestead can be found in Kapunda, about an hour and 20 minutes’ drive north-west of Adelaide.

Oldham House has four bathrooms and a formal lounge room, with a very nice garden on a large block.

35085 Brand Highway, Greenough, WA
$485,000

With 12 hectares of land to stretch out in, this property is marketed as a “horse lovers’ paradise with multiple paddock options”.

The four-bedroom house is a 15-minute drive from Geraldton, and about a four-hour drive north of Perth.

22 Linnells Road, Huonville, Tasmania
Negotiable over $498,000

Heading south of Bass Strait, this three-bedroom home on almost 10,000 square metres is a very short drive from the centre of Huonville, and about a 40-minute drive south-west of Hobart.

It’s got a well-cared for garden and greenhouse, separate guest accomodation, and views of the Huon River.

95 High Street, Sheffield, Tasmania
$465,000

Also with gardens galore, this adorable three-bedroom home on 2000 square metres is a short stroll to the centre of the town.

Surrounded by tranquillity, the well-preserved period property is a bit over an hour west of Launceston.