Agents across the country are telling the same story: reduced interest rates and the expanded First Home Guarantee Scheme are driving renewed demand for affordable freestanding homes.
With demand comes growth, so the goal posts keep moving — but PropTrack data shows there are still plenty of suburbs in metro and regional locations with a median house price under $750,000, realestate.com.au analysis showed.
In Camberwarra, located in the New South Wales City of Shoalhaven, the median property price of $720,000 has shot up by a staggering 49% in 12 months, and properties priced under $750,000 are increasingly rare.
In nearby Bomaderry, Amy Jarrett of One Agency just sold a three-bedroom listing on 502sqm that “represents a lot of value.” While the final sale price was not disclosed, the home had a price guide of $660,000 to $690,000.
“It’s hard to get anything under $700,000,” Jarrett said, noting “a lot of interest on the ground” due to stabilising interest rates and the expanded First Home Guarantee Scheme, which has an $800,000 cap for NSW regional homes.
The Bomaderry home was snapped up within weeks of listing, appealing to young families thanks to its proximity to schools, shops and transport links. Jarrett added that turnkey properties were in strong demand: “Getting something that’s done is difficult.”
In Melbourne, Tullamarine still offers freestanding homes under $750,000 despite being just 17km from the CBD. Prices there have climbed 4% in the past year.
Pierre Hadchiti of HPG Estate Agents is marketing a three-bedroom home on 530sqm, guided at $700,000–$750,000. He predicted Tullamarine was “the next boom suburb” given its value and location.
Other Melbourne suburbs with medians under $750,000 include Caroline Springs, South Morang and Cranbourne East, though they lack the same proximity to the city. Hadchiti added that investors were competing directly with first-home buyers this spring.
In Adelaide, Salisbury Park remains affordable with median prices up 20% in the past 12 months. Hobart has also seen suburbs such as Lenah Valley and Lauderdale dip back under $750,000, offering options for budget-conscious buyers within commuting distance of the CBD.
On the Cooloola Coast, 70 minutes north of Noosa, Tin Can Bay offers three-bedroom homes under $700,000.
“We are seeing a large percentage of our buyers making the move to the area from Brisbane and the Sunshine Coast as it is more affordable and offers a more relaxed lifestyle,” Agent Clare Dawson told realestate.com.au.
In Broome, Western Australia, buyers can secure a freestanding home with a pool for $675,000, with Hutchinson Real Estate agent Phil Oakden noting: “This street is full of young families who have bought old homes and are doing them up.”
For mortgage brokers, the message is twofold: affordable freestanding homes remain available in select suburbs under $750,000, while mortgage demand is rising sharply on the back of refinancing activity. Advisers should help first-home buyers identify eligible properties within scheme price caps and guide refinancers toward sharper deals.
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