Cheapest places to buy a home in Australia revealed
Australia’s cheapest areas to buy a home have been revealed, with multiple houses on offer for under $100,000.
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For many young Australians, the thought of being able to break into the property market may seem nearly impossible – but there are still some areas where you can snag a bargain.
PropTrack recently released its latest quarterly automated valuation model (AVM), which revealed the top 20 cheapest places in the country to buy a house.
An AVM uses advanced data analytics and mathematical models to accurately estimate the value of a given property.
According to the data, househunters looking to snag a bargain should look no further than Andamooka in outback South Australia.
The AVM for a house in this opal mining town, situated about 600km north of Adelaide, is $80,517, which is a 34.87 per cent drop from last year.
One of the 17 properties currently on offer is a two-bedroom, one bathroom brick home for $99,000, realestate.com.au revealed.
On the more expensive end of the homes available is a $350,000 four-bedroom house, that has been “extensively renovated and extended”.
Want tips on how to buy a home at auction? Read Compare Money's guide >
Coming in at number two is another outback town, this time in Western Australia.
Norseman is located in the Goldfields-Esperance region of the state, being put on the map in 1894 after a rich vein of gold was discovered.
The town is home to the world’s longest golf course, the Nullarbor Links, which is situated across 1365km of the Eyre Highway.
If this sounds like your kind of town, then you are in luck because the AVM house price is sitting at $81,803.
This is a 20.91 per cent drop year on year.
Heading down to around the middle of the pack is NSW’s Broken Hill and Queensland’s Collinsville coming in at number nine and 10.
Broken Hill is one of Australia’s most famous outback towns, with the AVM for a unit coming in at $143,222, a 0.96 per cent drop from last year.
If you are looking for somewhere a little bit closer to the coast, then Collinsville, located in Queensland’s Whitsunday region, might be a better pick for you.
The AVM for a house in the rural town is $149,798, which is a massive 21.38 per cent surge from the previous year.
One home that is on offer is a $159,000 four-bedroom house, situated on a large block that includes fruit trees and a veggie garden.
If you are happy to fork out a little bit extra, you can get a three bedroom, three bathroom double storey house for $270,000.
Heading further down the list at number 15 and 16 is Coonamble in NSW’s central-western plains region and Mount Morgan in central Queensland.
The average price for a house in Coonamble is $163,202, which is a slight increase of 0.73 per cent from last year.
Mount Morgan’s house price AVM saw a huge jump this year, increasing 20.68 per cent to $166,570.
Coming in at number 20 on the cheapest places in Australia to buy a property is Quilpie in outback Queensland.
The town is known for its exquisite boulder opal, with the average house price sitting at $170,077, a 5.74 per cent drop year on year.
Originally published as Cheapest places to buy a home in Australia revealed
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