NSW’s cheapest suburbs: Bourke the cheapest place to buy a house

Sydney may be the most expensive city to buy a property in Australia, but in some pockets of NSW you can own a house for as low as $85 per week. Find out where here:

It is known as Australia’s most expensive state but property seekers in NSW are still able to snag some properties from as little as $85 per week.

New data has revealed the state’s cheapest areas to buy into were in regional centres more than 500km from Greater Sydney.

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Realestate.com.au’s July market trends report found Bourke in NSW’s north west had the lowest median house price in NSW of $100,000.

No. 4 Short St, Bourke, is for sale with a $105,000 guide.

$35,000 was all it took to purchase 78 Hope St, Bourke.

This is pocket money for most house hunters with Sydney’s median house price currently $1.224 million and the Byron Bay region even more pricey at $1.4 million.

While it may sound cheap, Bourke has seen a 73.9 per cent jump to the median house price from 20 sales in the past year.

A 1367sqm double brick house on Hope St with horse stables and a stone’s throw from the town centre is currently for sale with a $105,000 guide, while a two-bedroom house on 1014sqm sold for $35,000 last year.

If a homeowner was to put down a 20 per cent deposit on 78 Hope St, mortgage repayments would be as little $88.84 per week, according to the Australian Government’s Moneysmart mortgage calculator.

A guide of $115,000 has been set for 333 Williams Lane, Broken Hill.

Coonamble near Dubbo, had NSW’s next lowest median house price of $108,750, which was down 9.4 per cent in the past 12 months.

The iconic town of Broken Hill was third with a median of $130,000 and Hay in the western Riverina region was fourth at $135,000.

Currently for sale in Broken Hill is a large three-bedroom house at 333 Williams Lane with a modern kitchen. It has a $115,000 guide and rent potential of $225 per week — well above the mortgage repayment.

In Sydney, this house at 4 McCrae Place, Blackett, has a $559,000 guide.

This house at 53 Marshall Way, Nambucca Heads has a $470,000 guide.

Blackett in western Sydney was the cheapest suburb to buy a house in Greater Sydney with a median house price of $530,000 followed by Airds and Mount Victoria.

A Blackett three-bedroom house at McCrae Place with potential for a granny flat is currently on the market with a $559,000 guide.

Nambucca Heads on NSW’s mid north coast was the cheapest coastal town centre with a median house price of $449,500 following 7 per cent growth in the past year.

Those looking to move to the suburb could secure a three-bedroom house on Marshall Way with a guide of $470,000.

NSW suburbs with the lowest median house price:

Bourke — $100,000

Coonamble — $108,750

Broken Hill — $130,000

Hay — $135,000

Warialda — $140,000

Source: realestate.com.au