Where You Can Still Buy For Under $1m

Although the national median house value sits at $1 million, new analysis shows where buyers can still secure a home for less than that.

Realestate.com.au senior economist Angus Moore says there are plenty of pockets within Greater capital city markets, where freestanding houses don’t come with a seven-figure price tag.

Within Greater Sydney, the suburbs with the highest proportion of houses for less than $1 million are Willmot and Tregear.

In Greater Melbourne, there are many more suburbs where all houses are less than $1million, including Jacana, Eumemmerring and Broadmeadows.

Greater Brisbane has two suburbs where all houses are less than $1 million – Leichhardt and One Mile within the Ipswich LGA.

Greater Perth has more than ten suburbs where all houses are less than $1 million including Stratton, Medina and Brookdale.

The north dominated Greater Adelaide’s list with 100% of homes around Elizabeth and Salisbury valued at less than $1m.

While $1 million may not purchase a freestanding home closer to inner ring capital city suburbs, Moore says there are still plenty of more affordable options in those apartment markets.