Northern Beaches

Australia’s most affordable suburbs by the beach or city where you can get a house for $400k

PHOTO: Australia – The Lucky Country

  • Mortgage broker Aussie is recommending suburbs for young first-home buyers
  • It has chosen postcodes where it is possible to buy a house for just $400,000
  • Wyee on Central Coast north of Sydney still has median house price of $415,000

Houses a short drive from the beach or the city are still affordable for first-home buyers on a $400,000 budget.

Mortgage broker Aussie is recommending postcodes where borrowers can get a loan with a deposit of $40,000, the price of a new car, and not be struggling to pay their bills on an average salary.

On the Central Coast, a little more than an hour’s drive north of Sydney, someone able to work from home can still buy a house for $415,000 at Wyee in the Lake Macquarie area, CoreLogic data on median prices for October found.

They would only need $41,500 for a minimum 10 per cent deposit if they were prepared to pay lender’s mortgage insurance.

Houses a short drive from the beach or the city are still affordable for first-home buyers on a $400,000 budget. Mortgage broker Aussie is recommending postcodes where borrowers can get a loan with a deposit of $40,000, or the price of a new car, and not be struggling to pay their bills on an average salary  (pictured is an Aussie map showing more affordable areas in purple)

Houses a short drive from the beach or the city are still affordable for first-home buyers on a $400,000 budget. Mortgage broker Aussie is recommending postcodes where borrowers can get a loan with a deposit of $40,000, or the price of a new car, and not be struggling to pay their bills on an average salary  (pictured is an Aussie map showing more affordable areas in purple)

The median price is also less than half the Central Coast’s mid-point house price of $954,330, which would buy something with a backyard at Woy Woy.

In Brisbane, the median house price at Acacia Ridge only 15km south of the city, is $452,500 – requiring a deposit of just $45,250.

 

Commonwealth Bank predictions for home prices

SYDNEY: 2021 (Up 27 per cent); 2022:  (Up 6 per cent); 2023 (Down 12 per cent)

MELBOURNE: 2021 (Up 17 per cent); 2022 (Up 8 per cent); 2023 (Down 10 per cent)

CANBERRA: 2021 (Up 26 per cent); 2022 (Up 7 per cent); 2023 (Down 10 per cent)

BRISBANE: 2021 (Up 26 per cent);  2022 (Up 9 per cent); 2023 (Down 8 per cent)

ADELAIDE: 2021 (Up 22 per cent);  2022 (Up 6 per cent); 2023 (Down 8 per cent)

PERTH: 2021  (Up 13 per cent); 2022 (Up 3 per cent); 2023 (Down 9 per cent)

HOBART: 2021 (Up 29 per cent); 2022 (Up 5 per cent); 2023 (Down 12 per cent)

DARWIN: 2021 (Up 17 per cent); 2022 (Up 7 per cent); 2023 (Down 8 per cent)

Source: Commonwealth Bank of Australia forecasts for dwellings or houses and units together

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