In recent years, Tasmania has emerged as the cheapest place to buy a house and South Australia has emerged as being the most affordable. If you want suburban living, you may be better off moving to Adelaide or Perth.
Where are the cheapest houses in Australia? Generally speaking, in Australia you're likely to find the cheapest houses in regional and rural locations, especially in Western Australia, Queensland and South Australia.
If you're on a tight budget, you might be wondering what the cheapest capital city in Australia is. At the moment, that title goes to Darwin in Northern Territory. According to Corelogic's Housing Value Index released on 31st January 2023, Darwin has the lowest median housing value at $500,228.
The most affordable suburbs are Elizabeth North in Greater Adelaide with a median house value of $291,526; Kwinana Town Centre in Greater Perth is next with $300,252, and Elizabeth Downs in Greater Adelaide at $305,336.
The postcode 6710, which covers a slice of North-Western Australia from the Pilbara town of Cane to the coastal town of Onslow, is officially Australia's richest, with residents earning a median wage of $2,000 a week, or $104,000 a year.
Houses in the Tasmanian capital are roughly 25% cheaper than the national average – at about $444,500 AUD ($315,000 USD) – making it much more affordable than cities like Sydney or Melbourne. If the island life isn't for you, then Adelaide and Perth are among the cheapest cities to live in mainland Australia.
The most affordable capital city – Adelaide. The most affordable capital city for rent is Adelaide with a median rent of $410.
You can still buy a reasonable property for $200,000 in an outer city suburb. “But you will be speculating as to whether it will go up or not (in value). They often do have a higher rental yield, which helps those new to property investing or those with less spare cash-flow.
Research from the Swinburne University of Technology suggests that the cheapest time to buy a house in Australia is during, just before or just after winter. In Sydney, Adelaide and Darwin the least expensive month to buy was June or July, suggesting that if you buy during winter you may find yourself a bargain.
Australians over 65, who live in Queensland, own a house and pet are the happiest people in the country, according to new NAB insights.
Hervey Bay, Queensland
This area is a natural bay between Australia's mainland and Fraser Island. Retirees can bask in the sun on golden beaches, go on whale-watching excursions, and enjoy everything else the family-friendly town has to offer. If affordable housing is a priority, then Hervey Bay is an excellent choice.
1. Canberra – Australia's Capital City. Nestled between Sydney and Melbourne, Canberra is not only the capital but also Australia's safest city. With a low crime rate and a small-town vibe, Canberra offers an attractive blend of city living and peaceful suburban life.
The numbers show that Sydneysiders need to earn the most – $238,399 – to be able to comfortably afford the repayments on a house based on the median value. Those who want to buy a home in Perth or Darwin need to earn just under $115,000 to avoid mortgage stress – roughly half of what those in Sydney need.
A great savings goal for a house deposit is: 20% of the purchase price of the house. plus enough to cover the costs of buying a house.
Consider going modular or prefabricated
Hipages.com.au say, "In general, modular homes cost between $2500 and $3000 per square metre, but the cost will vary." Read more on how to build a home in our complete guide.
The city of Perth has the best weather/climate in Australia. The city enjoys a temperate Mediterranean climate with hot and dry summers and mild but wet winters. Perth is also the sunniest capital city in Australia and is considered one of the hottest experiencing over 250+ days of sunny blue skies.
Tasmania scored highly in the report in terms of its climate, electricity supply, agricultural resources and population density. The study states that rising populations and energy use have led to climate change, increased risk of pandemics and ecological destruction.
Mungallala Methodist Church was built in 1964. It has now closed. In 2016, the Australian Taxation Office listed Mungallala as having the lowest mean taxable income by postcode, making it the poorest town in Australia, which led the ABC to do a documentary on the town for their online "storyhunters" program.
Welcome to Australia's poorest town: Mungallala, Queensland — average annual income $3,148. The residents of Mungallala, in Queensland's mid south, take home an average salary of a little over $3,000 a year according to the Australian Taxation Office, making the tiny rural town the poorest in Australia.
Currently, the Australian capital city with the worst affordability is Hobart. While Sydney, Melbourne, Adelaide and the ACT all improved in affordability during the COVID-19 pandemic, they declined again in 2022.
Australia's most liveable city is now also the friendliest in the world, according to a new report. Melbourne has been hailed for its kind inhabitants and inclusive culture, with the city taking top spot against its global peers, according to the Benchmarking Melbourne 2023 report released on Thursday.
Offender Rate: Homicide and Related Offences
Northern Territory is the top region by homicide rate in Australia. As of 2022, homicide rate in Northern Territory was 8.9 per 100,000 population. The top 5 regions also includes Queensland, Tasmania, Western Australia, and New South Wales.