There are now just 501 Aussie suburbs where buyers can purchase an average house for under $500,000 – down from 658 a year ago and 1753 in 2020.

To put that figure into perspective, there are 6689 house suburbs across the nation.

The grim figure was revealed in the latest REA Market Trends report for November, marking a dramatic decline in what was once considered a reasonable and attainable mortgage.

It comes as the latest PropTrack Home Price Index revealed that national home prices hit a new record high in November, increasing 0.5 per cent to sit 8.7 per cent higher compared to 12 months ago.

REA Group senior economist Eleanor Creagh said even with a pullback in the pace of growth last month, home prices were still growing at a solid pace.

“We’ve seen home prices continue to rise at a brisk pace, with some easing in the monthly pace of growth in markets that are seeing a large uplift in stock for sale in November,” she said.

“This year’s series of interest rate cuts have boosted borrowing capacities and improved sentiment, driving renewed momentum in the housing market.

“Continued population growth, increased investor and upgrader activity, and of course, the expanded home guarantee scheme, are also bolstering demand.”

Melbourne and Sydney’s median home prices grew at a slightly slower pace in November compared to previous months, up 0.2 per cent and 0.4 per cent respectively.

This followed a 29.5 per cent month-on-month surge in new property listings in Melbourne in October, and a 20.1 per cent jump in Sydney new property listings.

Adelaide had the strongest month-on-month home price growth in the country in November, up 0.9 per cent for the month.

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Perth followed Adelaide with the second strongest home price growth in Australia in November, with the city’s median home price gaining 0.89 per cent during the month.

Brisbane (0.64%), Canberra (0.56%), Darwin (0.25%), and Hobart (0.16%) also posted month-on-month gains during November.

All regional markets except regional Northern Territory (-0.1%) also grew throughout November.

Australia’s combined regional property markets outperformed the capital cities last month, up 0.6 per cent and 0.48 per cent, respectively.

The Market Trends report shows there are now just 109 house suburbs with a median price of $500,000 or less in NSW, with the cheapest homes located in the Far West and Orana region.

In NSW, the cheapest place to buy a house is Brewarrina, where the average home sells for $104,000.

South Australia now has just 65 house suburbs under $500,000, ranging from the outback town of Andamooka ($65,000) to Hamley Bridge in the Barossa-Yorke-Mid North region ($500,000).

Victoria has 95 house suburbs under $500,000, none in the Greater Melbourne region.

The cheapest suburb to buy a house is in Jeparit in the state’s northwest ($158,000).

The Northern Territory has 20 suburbs with a median house price below $500,000 – the cheapest being Dundee at $250,000.

There are five suburbs in Darwin itself, including Lee Point, Berrimah, Berry Springs, Moulden, Acacia Hills, Gray, Virginia and Woodroffe.

But when it comes to current listings under $500,000, good luck.

Queensland has 118 suburbs with a median house price at or below $500,000, ranging from $67,500 in Dirranbandi to $500,000 in Goondiwindi, Sun Valley, Innisfail Estate, Oakey, Cullinane and Maryborough.

Just three Brisbane suburbs make the cut, none of them on the mainland – Russell Island ($445,000), Lamb Island ($457,500) and Macleay Island ($495,000).

There are 39 suburbs under the $500,000 threshhold in Tasmania but unlike the other states, there are still a few options in the Hobart region, including Gagebrook ($380,250), Herdsmans Cove ($385,000), Bridgewater ($425,000), Risdon Vale ($470,000), New Norfolk ($470,000), Primorose Sands ($480,500) and Chigwell ($500,000).

Meanwhile, Western Australia’s sub-$500,000 suburbs have dwindled to just 54, ranging from Norseman isn the Outback South region ($105,000) to Harvey in Bunbury and Toodyay in the Wheat Belt, with both coming in at $500,000.

Norseman recorded the highest growth in median house values in the 12 months to November, rising a staggering 121 per cent.

Seven suburbs, including Norseman, with median house values at or below $500,000 recorded value increases north of 50 per cent in the past 12 months – Millchester (Qld), Wilmington (SA), Springsure (Qld), Merredin (WA), Tarpeena (SA) and Riverton (SA).

The the past three months alone, South Kempsey on the NSW Mid North Coast recorded price growth of 91.1 per cent to $440,000.

It comes after the annual PropTrack Housing Affordability report revealed that housing affordability remained near its worst level on record despite a slight improvement this year, though experts predict affordability will deteriorate further in 2026.

Real Estate Buyers Agents Association of Australia (REBAA) president Melinda Jennison said home buyers, especially first-home buyers, were feeling affordability pressures.

“For many first-home buyers, particularly in cities like Brisbane, Perth, and Darwin where property prices have surged over the past year and rents remain high, the biggest challenge remains saving a deposit while managing everyday living costs,” she said.

“Schemes like the First Home Buyers Guarantee have certainly helped ease the deposit hurdle for some, allowing eligible buyers to enter the market with as little as 5 per cent saved.”

But Ms Jennison said the real challenge for many now lies in meeting the mortgage serviceability criteria.

“Even when buyers can access support to get in the door, tighter lending assessments continue to hold a lot of people back, especially those without family support or with variable incomes,” she said.

“So while repayments might look more manageable, home ownership still feels just out of reach for many would-be buyers.”

Canstar’s 9th annual Consumer Pulse Report has also revealed that the cost of housing is the number one concern for Aussies in 2026.

The report, which is based on the opinions of more than 2,000 Australians, found the cost of housing has been the most common financial concern for Australians for four years in a row, and is now more than double what it was five years ago.

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The ink has dried on the sale of a 1960s Brahma Lodge home, marking a staggering new residential price record for a single house in the northern suburb.

The 1964-built three-bedroom house at 18 Cambridge St was snapped up for $958,000 at auction in October but the sale only recently settled.

It has raised the bar for the suburb, property records show, eclipsing that of 12 Eastview St, which sold for $935,000 at a similar time.

There have been several other higher sales in the suburb but they have included multiple properties, records show.

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Edge Realty principal Mike Lao said more than 50 prospective buyers registered to bid on the 760sqm property, which had a $550k price guide.

“It was crazy, we had about 51 registered bidders,” said Mr Lao, who sold the property with Tyson Bennett.

As the price quickly climbed, Mr Lao said most prospective buyers were priced out so only a handful made an offer.

He said about half were owner-occupier buyers while the other half were developers.

“Some of the developers were excited about the potential to subdivide into three (properties),” said Mr Lao.

He said a developer secured the property and planned to build multiple homes on the site.

Property records show several properties have sold for high prices in the suburb recently.

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One at 22 Tindola St sold for $860,000 early last month, while another at 135 Park Tce changed hands for $837,000.

Mr Lao said a combination of the area being “undervalued for so long” and limited available land were making properties in the suburb popular.

“Salisbury is really well located and there are a lot of amenities too,” Mr Lao said.

According to latest PropTrack data, the median house price in Brahma Lodge is $652,500.

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The owners of this shed company wanted to prove they could turn their hands to luxury homes, in the hope that others would share their vision.

Julia and Josh Vearing own a shed-building company based in Griffith, NSW. When they shared their plans to build a large, Colorbond home that would be black inside and out, their friends tried to dissuade them.

“A lot of people tried to talk us out of doing all black because everything is black in there but the floor, which is concrete. Even the toilet is black,” Ms Vearing said.

Undeterred, the couple created La Grande Case Nera (‘the big black home’), a four-bedroom, two-bathroom shed at 291 Rankins Springs Road in Beelbangera, Griffith that’s as spacious as it is stylish.

“The house has a steel frame, we’ve just cladded it in Colorbond, so it does look like a big shed,” said Ms Vearing.

“It was a project to show our customers what we can do. We’re very proud of it — it’s a beautiful home and we stuck to our guns.”

She said the black creates a powerful mood.

“There’s so much glass, so by day the natural light makes it so bright. Then by night, warm, mood lighting gives that sexy, modern, luxury vibe.”

The two-storey home on 2.5 acres is divided into three parts. At the heart, living and dining spaces soar under eight-metre cathedral ceilings and surround a sculptural Cheminee fireplace — all surveyed by a sleek kitchen with porcelain benchtops, Miele appliances and a vast wine rack.

There’s a wing on each side — one revealing three bedrooms, a bathroom and an entertainment zone that flows out to a covered patio and 11-metre pool.

The other wing houses a gym, a home office, a laundry and garage.

On the upper level, there’s a hidden theatre room on one side and on the other, a master suite with two expansive walk-in robes, a skylit ensuite and views at night that take in the distant glow of Griffith’s lights through a striking triangular window.

The home sits on a level block surrounded by established gardens, a working table grape vineyard, mature olive trees plus an oversized commercial shed for storage, hobbies or business use.

Despite its cavernous and industrial style, La Grande Case Nera has a warm and cosy feel, and even scored a design gong — the Lysaught’s 2025 People’s Choice award for combining “bold geometry with fine detail for a modern rural aesthetic”.

Floor-to-ceiling glass on both sides of the home offer stunning district views, which Ms Vearing said evokes a retreat.

“It’s close enough to town but feels far away. You can enjoy beautiful sunrises and sunsets over the hills on each side. And next door is a pistachio farm that blooms in spring.”

The Vearings completed La Grand Case Nera three years ago and lived in it for 18 months before moving to the Gold Coast, where they’re working on another project.

With a guide price of $2.8-$3m, it dwarfs Griffith’s $600,000 median house price — up 5% over the last 12 months. Yet Ms Vearing is optimistic.

“The market is starting to move; we have a lot of industries here, a lot of farmers and wineries driving demand.”

Agent Glen Spargo at Harcourts Aspire said the property is unique in the area and is attracting enquiries from far and wide.

“It’s not your normal brick-and-tile property; it’s certainly something left of centre, and it’s quality-built and extremely bespoke.”

Ms Vearing believes it would be the perfect fit for those who work from home and are after a tree change, or a family eyeing a move to the country.

“It’s a very unique property, but we know someone will love our vision,” she said.

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They were the Aussie girl group who rocketed to fame on the reality TV show Popstars in 2000.

Despite ranking in $27 million during their first year of record sales, performances and appearances, Bardot were paid just $35 a day.

Bandmates Belinda Chapple, Sophie Monk, Sally Polihronas, Katie Underwood, and Tiffani Wood were handed over cash in an envelope at the end of the week with pocket change to live on.

“It hit home to us when we were sitting there signing albums for three hours straight, in every state, with a sea of people,” Chapple told news.com.au in 2023.

“We’d look at each other and just go wow, we’re making a lot of money … And we’re not seeing a cent of it. It was tough.”

More than two decades on, some of the band members have turned their low salaries into multimillion-dollar real estate fortunes.

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Here’s a look at the savvy property moves of Bardot.

Sophie Monk

Sophie Monk leveraged her post-band career as a TV host and media personality into an impressive property portfolio.

Back in June, the Love Island host sold what was believed to have been her first ever home on the Gold Coast for a cool $595,000. She purchased the unit in 2003 for $165,000.

The deal came after Monk sold a five-bedroom Helensvale home for $1.76 million in 2024.

Monk, who is now based on the NSW Central Coast, paid $1.1 million for the home in 2016.

The property has been a $1200-a-week rental over the past few years following her move to Sydney.

The TV personality host retains a Mermaid Beach unit, bought for $165,000 in 2003.

Monk is based in Matcham on the NSW Central Coast, where she spent $2.3 million in 2020 on a four-bedroom home set on 8356sq m. She lives with her husband, photographer Joshua Gross.

Monk also spent a decade in Los Angeles before returning to Australia in 2015. She moved to the US after leaving Bardot.

Her Hollywood dream came to an end when an acquaintance swindled her out of everything she had earned.

“Someone ripped off all my money,” Monk told news.com.au in 2017.

“It was a friend of mine. I gave too much permission. I let this person run my banking.

You can’t sue because I said yes. I signed the papers without reading them.

“You can make money (in this industry) but you can lose it if you don’t know what to do with it.

“You’re too busy working that you don’t pay attention. The money side, that’s not my thing.

“I don’t do numbers. I’m a saver, which is stupid. I didn’t invest.”

Tiffani Wood

After touring the world with the chart-topping Aussie girl band, Tiffani Wood turned her talents to home styling.

The mum-of-six created a suburban bohemian wonderland at her Carrara, Queensland home which was listed for sale in 2021.

The Newcastle-born entertainer was a single mum to eldest daughter Lillian, when she bought the three-bedroom duplex in 2010.

“You can travel and meet all these people and have a wonderful, exciting life, but there is absolutely nothing like the warmth of coming home and that’s why I’ve tried to make my home a beautiful, warm and inviting space. After being in Bardot I’m a real homebody,” she said.

Wood admitted she was rocked by the band’s unexpected split in 2002.

“I wish I would have had a back-up plan. I went straight out of school and straight into Bardot and then doing cover songs, so when Bardot finished, I’d just bought this place and I remember sitting on the floor; a single mum with all my awards around me, and thinking, ‘what was all this for?’.”

In 2012 she met partner Luke McCoy and over the next five years they became parents to Harley, Beau, Ryder, Brooklyn, and Evie.

At the time of the listing, Wood planned to buy a rural property on the southern Gold Coast – “anywhere with room for six kids to run around”.

Wood now runs Popstar Kidz Workshop, a Burleigh Heads school holiday program where students form girl or boy bands and are mentored in singing, dancing, and styling to produce a showcase performance.

Belinda Chapple

After Bardot split up, Chapple released two solo singles.

“You couldn’t just go and get a normal job,” she told Mamamia’s No Filter podcast in 2023. “I was the girl from Bardot.”

“It was a disjointed, hard time for me. I struggled with mental illness and all sorts of things but I got through.

“I started working behind the scenes. I went to Singapore, working for Universal Studios in production and talent management.”

Chapple met her now-husband in Singapore, and the two lived between London and Singapore.

While living in London, the music star studied Interior Design studies at the National Design Academy and worked as a model.

Chapple operated her interior design company out of London and Marbella before returning to Sydney in 2022.

She and former bandmate Katie Underwood revealed in 2021 they were producing music together again under the band name Ka’ Bel. The duo released their debut single Broken Hearted.

Chapple’s memoir about her time in Bardot, The Girl in the Band, was published in 2023.

The book became the basis of the 2023 fictional television series Paper Dolls, of which Chapple served as executive producer.

Katie Underwood

Underwood left Bardot in 2001 for a musical theatre career. After leaving the girl group, she starred on Channel 7’s Undercover Angels and released two singles with dance act Disco Montego.

In 2011, the singer became a mum to her twin daughters Charlotte and Zoe. She currently lives in Melbourne.

Underwood changed careers, becoming a meditation teacher and remedial massage therapist

“Bardot seems a lifetime away,” she told the Herald Sun.

“As I’ve grown older, I’m not so interested in proving what I can do.

“I’m more interested in assisting other people to see what they can do.”

Sally Polihronas

Polihronas did some songwriting after Bardot split in 2002. Leaving music behind, the former singer spent most of her career working as a freelancer, educator, and producer of live events and tours.

The ex-entertainer later embarked on a new profession as a mentor for creatives, helping them elevate their lives through wellness, self-discovery and business.

Polihronas is married to husband Adrian and they have two daughters, Chloe and Sophia. The family resides in Sydney.

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