You can buy a house in an Australian ‘coastal town’ for less than A$600,000

• 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”.