[category]
[title]
It’s an unfortunate reality, but Australia is one of the most expensive places to live in the world. However, a small handful of undervalued pockets still exist where you can score a property bargain (by today’s standards, at least) – and they’re hiding in plain sight.
Australia’s housing market shows no signs of slowing down, with the typical property now worth about $81,000 more than a year ago. But fresh data from realestate.com.au has revealed nine of the country’s most undervalued suburbs that offer a much cheaper entry point than their pricey neighbours.
Let’s start with Australia’s most expensive state: NSW. Sydney’s Inner West is in high demand, with median house prices easily clearing the $2 million mark in suburbs like Newtown, Balmain, Marrickville and Dulwich Hill. But nearby Canterbury and Campsie are a fair bit easier on the budget, all while giving you roughly the same proximity to the CBD. In Campsie, the median house price sits at $1.83 million, while Canterbury comes in at $1.99 million – and both are primed to yield great growth value over the coming years.
If close to two mil is still way out of your price range, Goulburn is a great regional alternative. Located two hours south of Sydney, the median price for a property here is $660,000 – which is considerably more affordable than nearby Canberra, Moss Vale, Bowral and Mittagong, where median house values exceed $1 million.
Over in Victoria, buyers looking east can find seriously good value in Bayswater. While median house prices in neighbouring Ringwood and Wantirna have already cracked the $1 million mark, Bayswater remains more affordable, with houses selling for 20 to 30 per cent less. Another undervalued gem is Wodonga on the NSW-Victorian border. It boasts a median house price of $620,000, which is about 36 per cent cheaper than in its NSW counterpart, Albury.
The absolute cheapest entry point on realestate.com.au’s list of undervalued suburbs is Ulverstone on Tasmania’s gorgeous north coast. It offers a similar lifestyle and coastal access to nearby towns, but with a highly affordable median house price of $550,000.
Rounding out the nation's top undervalued pockets are three brilliant interstate options: Beenleigh, a perfect halfway point between Brisbane and the Gold Coast; Rockingham, a thriving hub in Perth; and Hallett Cove, an underrated beachside suburb in Adelaide.