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Let’s be honest – the idea of buying a home in Sydney is a wild pipe dream for a lot of us. And if the dream of owning a house full stop feels devastatingly out of reach, it might be time to look beyond the Big Smoke. New data from realestate.com.au has identified 193 Australian suburbs with median house prices of $500,000 or less in September, including 55 here in NSW.
There is a catch, of course: most of these affordable spots are in regional areas, rather than within commuting distance of Sydney’s CBD. But if you’re willing to trade city life for a slower pace, read on.
The Central West, New England and North West, Far West and Orana, and Riverina regions feature heavily on the NSW list. Some towns have also recorded substantial price growth over the past year, suggesting that affordability doesn't necessarily mean a stagnant property market.
Forbes, in the Central West, is one example. Its median house price rose 6.6 per cent over the year to September, reaching $477,500. Other NSW towns with median house prices below $500,000 include Broken Hill, where the median sits at $250,000, and Moree at $330,000. Other regional options include Coonamble ($198,000), Bourke ($250,000), Nyngan ($225,000), Condoblin ($369,000) and Deniliquin ($425,000). Other options include South Lismore ($420,000), South Kempsey ($435,000) and South Grafton ($480,500).
Of course, a lower price is only one part of the equation when you’re moving house. Employment opportunities, transport, healthcare and access to services are all worth weighing up before making a move. Still, with the national median house price sitting at a hefty $974,000, these regional NSW spots are looking pretty appealing.
You can check out the full list (with options across the country) over here.
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