In the past year, property prices have surged in most major cities, but there are still several suburbs where homes remain affordable despite substantial price hikes. According to PropTrack data, there are budget-friendly suburbs in capital cities, all boasting median property values under $750,000, where prices have experienced the most significant growth over the last 12 months. Despite these substantial increases, homes in these areas are still priced below Australia’s record-high median home value, which was reached last month. Approximately half of the suburbs on this list have prices under $600,000, making them appealing to both first-home buyers and investors. In Greater Sydney, all suburbs with a median house value under $750,000 are situated in the outer west, Blacktown, or the Central Coast, illustrating the challenge of finding affordable housing near the CBD of Australia’s most expensive city. However, among these affordable suburbs, there is a small area in Blacktown where property values have seen the most significant increase, with prices rising by 10-12%. Despite this uptick, homes in this pocket can still be purchased for less than $750,000.

Sydney