Affordable and freestanding: Where you can buy a house for less than $750,000 in each state

Agents across the country are telling the same story: reduced interest rates and the expanded First Home Guarantee Scheme are driving renewed demand for affordable freestanding homes. 

With demand comes growth, so the goal posts keep moving. But PropTrack data shows there are still plenty of suburbs in metro and regional locations with a median house price under $750,000.

We reveal where buyers can find an affordable freestanding home across the country, from coast to country and even in the capital cities.

Suburbs where house prices scrape in below $750K across the country:

Jump ahead to see the list of suburbs with a median house price that scrapes in just below $750K in each state.

Rare and ripe in regional NSW

In Camberwarra, located in the New South Wales City of Shoalhaven, the median property price of $720,000 has shot up by a staggering 49% in 12 months and properties priced at less than $750,000 are increasingly rare. 

In the nearby suburb of Bomaderry, Amy Jarrett of One Agency just sold a three-bedroom listing on 502sqm that “represents a lot of value”.

While the final sale price was not disclosed, the home had a price guide of $660,000 to $690,000.

Ms Jarrett said “it’s hard to get anything under $700,000,” and added she had noticed “a lot of interest on the ground” due to stabilising interest rates and the expanded Federal Government First Home Guarantee Scheme, which has an $800,000 cap for NSW regional homes.

The Bomaderry home was snapped up within weeks of listing, and Ms Jarrett said it was appealing to young families as it’s close to schools and shops, and had been tastefully updated.

“Getting something that’s done is difficult,” she said, noting strong demand for turnkey properties.

The region was also seeing an uplift in demand from Wollongong residents, a regional city further north, thanks to the bypass that now connects drivers to Bomaderry in 30-40 minutes.

The train line also stops in Bomaderry, she added, “you could come from Sydney”. 

Elsewhere in NSW, try Wagga Wagga in the Riverina or tackle a renovation in the Snowy Mountains suburb of Berridale where prices are up 14% in a year.

This property at 3 Oliver Street needs an overhaul, but it’s set on a generous 1214sqm block – houses in nearby Jindabyne are going for much more. 

The affordable “next boom suburb” in metro Melbourne

Want a decent freestanding house in metro Melbourne for less than $750,000? You’re not dreaming, a handful of suburbs are still attainable. A home is still your castle in Tullamarine, with prices up 4% in the past 12 months.

Pierre Hadchiti of HPG Estate Agents has a well-presented three-bedroom home on 530sqm heading to auction for between $700,000 and $750,000. He predicted Tullamarine was “the next boom suburb” because people have realised it’s just 17 kilometres from the CBD. 

Other metro Melbourne suburbs with medians under $750,000 include Caroline Springs, South Morang and Cranbourne East, though they don’t offer the same proximity to Melbourne as Tullamarine.

Mr Hadchiti said historically people worried about the airport, but contrary to common belief, “Most of Tullamarine is not under a flight path. Everyone thinks you’re going to have jets flying on top of you, that’s not the case at all.” 

He said investors would go toe-to-toe with first-home buyers in Tullamarine this spring. 

In Australia’s most expensive capital city, Sydney, there is only one suburb with a median house price of around $750,000, which is San Remo on the Central Coast.

Sub-$750K in the smaller capital cities

In other capitals, Adelaide and Hobart still cater to those seeking a home for less than $750,000, with an easy commute to the CBD.

In Adelaide, keep an eye on Salisbury Park, up 20% in the past 12 months. While in Hobart, some suburbs are back in the sub $750,000 bracket, with Lenah Valley down 3%  in the past year and Lauderdale down 13%. 

The coast in your sights

A home near the ocean is a privilege increasingly reserved for those with deep pockets. But there are places where you can get the keys to a home close to the surf for less than $750,000. 

On the Cooloola Coast, 70-minutes north of Noosa, you’ll find Tin Can Bay. Agent Clare Dawson holds a three-bed one-bath listing on 1,037sqm that’s on the market for $699,000. It’s just moments from the Esplanade and the town’s amenities. 

“We are seeing a large percentage of our buyers making the move to the area from Brisbane and the Sunshine Coast as it is more affordable and offers a more relaxed lifestyle,” She said.

For up to $750,000 buyers could expect to purchase a home that’s 10-15 years old, with three-to-four bedrooms and proximity to water. 

In Western Australia’s idyllic Broome, you can get a freestanding home with a pool on 510sqm for $675,000. 

Hutchinson Real Estate agent Phil Oakden said this property was one of many homes on 1000sqm blocks that are being subdivided. A new three-bed two-bath home next door will soon go on the market for $775,000. 

Mr Oakden said this street was “Full of young families who have bought old homes and are doing them up”.

It’s a first-home buyer paradise that’s a “short bike ride” from iconic Cable Beach. He said it was nice to see a new generation revitalising the established part of the peninsula known as “Old Broome”. 

Suburbs where house prices scrape in below $750K

New South Wales

Victoria

Queensland

South Australia

Western Australia

Tasmania

Northern Territory

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