Home buyers looking to score units for under $400,000 will not easily find them in Sydney or Brisbane, but Melbourne and Perth still offer plenty of opportunities, at least for now, a new report shows.

Analysis by Kent Lardner, founder of property data analytics firm Suburbtrends, found that more than one out of six units sold in Melbourne last month were priced under $400,000, while more than a quarter were sold for similar amount across Perth.