• With a A$600,000 budget, “buyers may be looking for an older home or one that needs some renovations, or a two-bedroom”.

KUALA LUMPUR (Sept 22): It is “still possible” to buy a home in one of Australia’s coastal towns if you do not have more than A$600,000 (RM1.8 million) to spare.

According to a report by the Sydney Morning Herald (SMH), a “handful of towns have median house prices under that threshold”.

They include places such as Nambucca Heads in northern New South Wales (median price of A$533,000), Portland (median price of A$415,000) and Warrnambool (at A$585,000), both in western Victoria.

Meanwhile, Coronet Bay in south-east of Melbourne has a median price of A$584,000 and Labrador, Gold Coast “is also in view” at a median price of A$579,000, reported the daily.

Narelle Harper from @realty told SMH that such homes “are snapped up quickly, especially if they are close to the ocean or the river”.

She explained that “interest in more expensive properties above A$1 million has slowed as interest rates rise”.

“A$550,000 to A$800,000 is still a good market,” she added.

Harper revealed that with a A$600,000 budget, “buyers may be looking for an older home or one that needs some renovations, or a two-bedroom”.

SHARE
RELATED POSTS
  1. EdgeProp, Lendlease provide the lowdown on strata living
  2. MBAM hopes for boost in construction sector with more projects in Budget 2023 wishlist
  3. Property group Encorp diversifies into silica mining