Balgal Beach near Townsville, Queensland, has the most affordable home prices not just in the state, but also for the entire country. The cheapest property that went on the market in March cost $185,000, while a residential lot may cost as low as $49,000 for 809 square meters of land.
While it is around 35 minutes away from Townsville, property prices in Brisbane will make you want to consider buying a house in the coastal town. Home prices in Brisbane will likely continue to increase this year, given that the city is bucking the trend of price slowdowns in other capital cities such as in Melbourne as well as Sydney.
According to CoreLogic data, the average home in Greater Brisbane cost $532,000 while most homes that exchanged possession in 2018 cost from $400,000 to $600,000.
The Cheapest Suburbs
Balgal Beach became the most affordable place in Australia to buy a house after the median land price cost $25,000 in 2018. A few lots even sold for as low as $20,000, and the real benefit is the large amount of space that you could get for a cheap price.
If you plan to buy a home in Townsville, you should put this town in your radar. Those who plan to retire near the beach will find it easier to spend time in the sun, as some homes are just a five-minute walk away from the shorelines.
Otherwise, there are other places where real estate prices are relatively inexpensive. Curiwan in Wentworth, New South Wales recorded a median price of just $30,000 last year. Mount Magnet in Western Australia had the same price, while Morawa in the same state had a $33,000 average home price.
Living Near Brisbane
Some people still wish to buy homes as close to Greater Brisbane as possible, yet wish to pay reasonable prices for homes. If you prefer to live in a suburb near the city, you should choose from 19 places where the average property values cost at least $300,000.
These suburban areas include Riverview, Dinmore and One Mile in Ipswich; Kingston, Logan Central, and Woodridge in Logan; and Caboolture South in Moreton Bay. While there are many places to choose from, the number of suburbs used to be around 40 locations in 2009.
Some people were lucky enough to find a house worth bellows $200,000 in 2018, but those deals only accounted for 1.7 percent of sales. This year will be different, and industry experts said that home buyers shouldn’t expect to see home listings worth below $300,000.
When choosing among different properties, take note that low prices don’t always equate low quality. You only need to be more thorough with home inspections. If you plan to buy from residential development, pick one based on sustainability aside from the cost.
It won’t take long before prices in Balgal Beach increase when people discover the coastal community’s affordability. Environment-friendly homes have been popular in recent years, and some real estate developers have picked up on this trend.