Tasmania and South Australia (SA) consistently offer some of Australia's cheapest housing, especially in regional areas, with Queensland also providing numerous affordable options, though prices vary greatly and rural/outback locations typically offer the lowest median prices, like Coober Pedy in SA or Rosebery in Tasmania.
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.
Yes, you can potentially buy a house with a $10,000 deposit in Australia, especially as a first home buyer, by using government schemes like the First Home Guarantee (requiring 5% deposit) or state grants, or through specific programs like Coposit for off-the-plan purchases, though it limits property price and often requires a guarantor or specific conditions to avoid Lenders Mortgage Insurance (LMI). A $10,000 deposit is 10% of a $100,000 property or 5% of a $200,000 property, so the price of the home is key.
Queensland is sunny and humid, making it an ideal destination for outdoor enthusiasts. Melbourne and Tasmania are cooler compared to other Australian states. Adelaide and Perth have warm, dry summers and mild winters, which might suit you if you're into warmer weather.
Hobart, Tasmania, is widely recognized as the cheapest major city, but smaller regional towns in Queensland and South Australia can offer even lower living costs.
1. Which state in Australia has the lowest crime rate? Tasmania and the Australian Capital Territory are considered among the safest because of crime rates below the national average.
Using this free income calculator, the approximate income you need to buy a $500,000 home, assuming you need a $400,000 loan, is $77,000 gross per year, excluding superannuation.
3.5% down payment options
You can buy a $300,000 house with just a $10,500 down payment using an FHA loan. These loans are easier to qualify for than conventional loans, especially if your credit score is lower.
For a $700,000 house, you'll need a deposit of at least $35,000 (5%) if you pay Lenders Mortgage Insurance (LMI), or $140,000 (20%) to avoid LMI, though these amounts don't cover other costs like stamp duty; a larger deposit means less interest, while smaller ones may qualify for government schemes but usually trigger LMI, adding to costs.
When rich-world interest rates began to surge in 2022, renting became a better deal than buying. House prices have since stagnated or slumped in many places, and rates are falling. Even so, there is reason to think that the winning streak for renters will continue.
The cheapest places to buy a house often vary by country, but generally, it's in rural areas or less-developed suburbs, with locations like Charleville in Australia (median ~$170k AUD) and parts of Queensland and South Australia offering very low entry points, while international options include towns in Mexico like Alamos or Xalapa, where homes can start under $40,000 USD, providing affordability for a lifestyle change rather than quick investment.
New South Wales (NSW): Thriving Cities and Expanding Regional Appeal. New South Wales remains one of Australia's most in-demand property markets, anchored by Sydney's global status and supported by high levels of infrastructure spending, employment diversity, and strong rental demand.
The report shows that Perth has the lowest average household spend on goods and services, including housing costs, of the larger State capitals – with Perth's average spend 10% lower than Melbourne, 19% lower than Brisbane and 24% lower than Sydney.
Buying a Home in the Fall and Winter: Better Deals, Less Competition. When you want the best price on a new home, buying in the fall or winter typically is your best option because sellers are often more motivated to make a deal -- especially if they listed their house in the spring, and it still hasn't sold.
However, most lenders still require your score to be at least 600 for an insured mortgage, even with a co-signer. How long does it take to raise my score enough to buy a home? Raising your credit score enough to buy a home (typically up to at least 600–680) can take anywhere from about 3 to 12 months.
On a $100k salary in Australia, you might borrow between $330,000 and $600,000, but it highly depends on lender policies, interest rates, existing debts (car, credit cards), living expenses, and deposit size, with many lenders using serviceability buffers, suggesting figures closer to the lower end, while others might offer more if you have minimal expenses and debt. Use an online borrowing calculator from banks like NAB, CommBank, or ING for a personalized estimate.
To comfortably afford a 400k mortgage, you'll likely need an annual income between $100,000 to $125,000, depending on your specific financial situation and the terms of your mortgage.
1. Which city in Australia has the highest crime rate? Rockhampton has the highest crime rate in Australia, with 132 per 1000 people. Some of the sources have also pointed to Alice Springs as the city with the highest crime rate.
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But despite the economic uptick of recent years, Tasmania is still the poorest Australian state.