Eight homes on the market for $300,000 or less in each Australian capital city
Property prices in Australia have reached record highs, but there are still homes to be had for those on a budget, even in the nation’s most expensive cities.
While it’s become increasingly hard to find a bargain in our capital cities, homes can still be purchased for $300,000 or less.
But be warned, when looking to spend just a fraction of the nation’s median house price – which hit a record $955,927 last quarter – you’ll often need to compromise on space or location, and sometimes both.
Here is what’s on the market now in each capital city for those with a budget of $300,000 or less.
9/40 Luxford Road, Mount Druitt NSW
You will not beat this for value. So reads the listing for this two-bedroom apartment in Mount Druitt in Sydney’s west, about 44 kilometres from the Sydney CBD.
The Luxford Road unit is listed for $284,950-$299,950, below Mount Druitt’s median unit price of $335,500, and is a short walk from Westfields Shopping Centre, the train station and other amenities.
Records show the original-condition unit last traded for almost $167,000 in 2011.
40/473 Princes Highway, Noble Park VIC
About 25 kilometres south-east of the Melbourne CBD, this two-bedroom apartment is on the market with a price guide of $270,000-$290,000.
The unit is in a block of 38 apartments in Noble Park, which recorded a median unit price of $340,000 over the year to June.
It sits on the Princes Highway and has two bedrooms with built-in wardrobes, a modern kitchen and open-plan living area that opens out to a balcony, and a bathroom with laundry space. Records show it last sold for $284,000 in 2017.
8/19 Kathleen Street, Richlands QLD
In Brisbane’s outer south-west, about a 20-kilometre drive from the city centre, this three-bedroom townhouse on a corner block is on the market for offers of more than $289,000.
The Richlands home has been drawing interest from both interstate investors and first-home buyers, said selling agent Leisa Le of @ap realty.
For the first time in many years, townhouses in the area were drawing equal interest from investors and first-home buyers, Ms Le said, with free-standing homes slipping out of reach for young buyers.
“Prior to prices going up, first-home buyers could afford free-standing homes … now they’re unaffordable. Gone are the cheapo three-bedroom cottages that we used to sell for $330,000 or $340,000. They’re now going for over $400,000,” she said. “So, first-home buyers are now buying townhouses as a stepping stone.”
8/4 Wilkins Street, Mawson ACT
In the nation’s capital, where the median unit price sits at more than $504,000, a two-bedroom unit has been listed in the city’s south for $299,000.
The top-floor apartment in the Woden Valley district is about a 14-kilometre drive from the city centre and has been marketed as an ideal first home or investment.
Records show it last sold for $310,000 in 2010.
5/46 Royal Street, Tuart Hill WA
Accepting offers from $299,000, this two-bedroom villa in Tuart Hill may just be in reach for a Perth buyer with $300,000 to spend.
About eight kilometres from the city centre, the original-condition home sits on a corner block on Royal Street and offers 75 square metres of internal living space. It last sold for $280,000 in 2017, records show.
Perth’s median unit price jumped almost 14 per cent over the year to June to $370,571.
6 Barrington Road, Elizabeth Downs SA
A recently renovated three-bedroom house in Elizabeth Downs, in Adelaide’s north, is currently listed for $279,000-$299,000.
Selling agent Paul Whitney of Harcourts Sergeant Property said the suburb was increasingly drawing interest from first-home buyers and interstate investors due to its affordability.
“Elizabeth Downs is one of those suburbs where you can still pick up a nice property on a decent size block for under $300,000. It’s an area that’s starting to show some growth … and in much higher demand than it was a year and a half ago, I think due to the affordability of it,” Mr Whitney said
The property, on a 770-square-metre block, sold for $215,000 just over two years ago but has been renovated since. The suburb has a median house price of $216,000.
8 Woodcutters Road, Tolmans Hill TAS
Pickings are slim for Hobart buyers on a budget of $300,000 and appear mostly limited to vacant blocks of land on the city outskirts.
In Tolmans Hill, about a six-kilometre drive from the city centre, a 1414-square-metre block is on the market for “best offer over $295,000”.
The Woodcutters Road block has views over the Mount Nelson bushland, the River Derwent, the Port of Hobart and beyond.
8/14-16 Lakeside Drive, Alawa NT
In Darwin’s northern suburbs, buyers will find a two-bedroom unit for sale for offers of more than $275,000.
The first-floor unit is close to public transport links, Charles Darwin University and a short drive to Casuarina Shopping Centre, Casuarina Beach and the Nightcliff foreshore area.
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