Living in the city can be fun, exciting and convenient, but living outside of the city has it’s perks as well, and one of the major perks is that it can be significantly cheaper to buy real estate outside of the capital city limits instead of inside the city proper. But even outside of the city some areas are just naturally more expensive.
Where You Can Expect To Pay More
While real estate prices outside capital cities tend to be cheaper than inside the city there are some limits to this. The prices of property will be higher the closer you get to the city limits or the closer you get to the ocean. Real estate that is located close to a capital city or on the ocean front will be more expensive than real estate that is further away from these areas.
The Best Places To Buy Outside The Capital City
If you are looking for a great location that is outside the city and more affordable than look no further than these great locations that offer better affordability then within the capital city limits.
The Cheapest Regional Areas
New South Wales
In New South Wales the cheapest area to live in was the suburb of Bourke with a median home price of $72,500. Following behind that is Walgett with a median home price of $75,000, Trangie with a median home price of $75,500, Coonamble with a median home price of $78,250, and Berrigan with a median home price of $86,000.
Victoria
In Victoria the cheapest suburb to purchase a home in was Jeparit where the median home price was $59,500. This was followed by Rainbow with a median home price of $63,500, Hopetoun with a median home price of $75,000, Sea Lake with a median home price of $77,000 and Murtoa with a median home price of $80,000.
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Hi Sean,
I think there are a lot of considerations that go into buying property outside of the capital cities. What is your purpose for buying there other than it’s cheap? I think I’d rather buy property where either myself or someone I trust could keep an eye on it.
Thanks for the list of places where it’s cheapest to buy properties. They’re well worth looking into.
I didn’t realise that you could buy houses in NSW and Victoria so cheap. Country living is great but doesn’t seem to get the same capital growth as real estate in the cities do. I wonder what a vacant block is worth?