7 bargain properties for under $500,000 in Australia right now
What does the pint-sized hometown of AFL star Harley Reid, a sleepy beachside village in northern NSW and Port Douglas have in common?
They’re home to some of the nation’s best bargain buys, including a handful of properties now sitting under the $500,000 mark thanks to hefty price cuts. In a property market in which Sydney’s house median is edging towards $2 million, these discounted deals almost feel nostalgic – throwing back to the affordability of decades gone by.
Sure, some of them are a solid trek from the nearest Sephora or microbrew bar, but local agents say the trade-off is clear: serenity, space and serious for a steal.
Beachfront pad for the price of an inner-Sydney carpark
Dreaming of a seachange on a shoestring budget? This one-bedroom apartment in Diamond Beach has had its price slashed to $315,000 – and yes, that’s less than what some car parks sell for in Bondi.
This coastal village is perched halfway between Sydney and Coffs Harbour and 15 minutes from Forster, with the unit itself situated mere metres from the dunes. It features a spacious living area, access to a communal barbecue area, and a backyard often dotted with wallabies.
Selling agent Natalie Carrier of LJ Hooker Hallidays Point Diamond Beach says the discount came down to soft buyer interest, making it a genuine steal.
“It’s absolute beachfront. The beach is patrolled through the summer months and it’s perfect for surfing or riding your horse along,” she says.
“We’re away from the hustle and bustle, the community is very close and while it used to be mainly retirees here, we’re seeing more younger families come in.”
A $200k camping paradise with filtered water views
Freshly reduced and now sitting at $200,000, this 778-square-metre block in NSW’s North Arm Cove is being billed as the “ultimate camping block” – complete with filtered water views and a leafy setting just footsteps from the community centre.
It’s 30 minutes from Newcastle Airport, 15 minutes from Hawks Nest and surrounded by bushland serenity.
For long-term land-bankers, the timing is sweet too, with Newcastle’s median house price hitting $984,000 in September, according to the Domain House Price Report, putting the city’s median within striking distance of $1 million.
Where Harley Reid learned to kick – and where you can still buy a house for $400,000
If Melbourne’s eye-watering property prices have forced you out of a backyard big enough to kick the footy around, you might want to consider heading 222 kilometres north to Tongala – home to West Coast Eagles star Harley Reid. This renovated three-bedroom home sits on a generous 1049-square-metre block and is listed for just over $400,000.
It’s loaded with modern appliances while being located just 400 metres from the local primary school and offering country living with plenty of convenience.
Selling agent Brendon Cornwall of H&G Real Estate says the home itself hadn’t been discounted and that the town was still brimming with value despite being on the cusp of colossal growth.
“We’ve got plenty of processing plants here and you can’t even find a rental right now. The growth has been massive,” he says. “Plus Harley Reid comes from here.”
Half a million in Strathfield? This might be Sydney’s best bargain
A one-bedroom unit in Strathfield is selling for $500,000 and might just be one of Sydney’s best bargains, considering the city’s median unit price currently sits at $840,000, according to Domain data.
Selling agent Greg Emerton of The Agency Inner West says the discount came to “attract more interest”.
Situated in the boutique Fitzgerald complex, the modern unit includes a study, secure basement parking and a sleek contemporary fitout.
“I think you can’t go wrong paying $500,000 anywhere in Sydney today,” Emerton says.
“And you know it’s going to increase over time, especially in Strathfield where there’s been strong capital growth.”
The September Domain House Price Report lists the Strathfield median unit price at $745,00.
A cheap slice of tropical paradise in Port Douglas
Resort-style living, rainforest surroundings and the Great Barrier Reef at your doorstep – Port Douglas hardly needs a sales pitch.
This three-bedroom unit, now at $399,000, stands out for its dual-key layout and slashed price. You can live in the studio or two-bedroom apartment while renting out the other one, making for rare versatility at that price range, says Chris McMullen of Raine & Horne Port Douglas Mossman.
McMullen says that market conditions sparked the discount.
“There are also a couple of other apartments in the complex up for sale and we wanted to make it the best value option for buyers.”
Country comfort and a big backyard near Emerald
This five-bedroom Capella home was discounted following a contract fall-through, offering buyers a chance to jump on a property that blends rural quiet with town-centre convenience.
Located across the road from the local primary school, it sits in a peaceful pocket where selling agent Brenda Logovik of LJ Hooker Emerald says weekends and holidays feel like you have no neighbours at all.
Logovik says that the property had drawn interest from buyers seeking a quieter lifestyle without sacrificing access to larger regional services.
The character home features two bathrooms, air-conditioning and high ceilings with loads of storage.
True serenity on the edge of a national park
This huge 254.55 hectare parcel of vacant land is the last remaining block from a once-vast private holding, and it could be yours for just $349,000.
Backing onto national parkland and close to the Seaview Resort, the land had once belonged to an elderly bush lover who gradually collected multiple blocks along the Oxley Highway as his personal retreat, says selling agent Garry Knapp says.
“It’s beautiful country that backs onto national park … raw, steep, big trees, biodiversity” Knapp says.
As to why the price was slashed? Knapp says one buyer had originally nabbed all the blocks together, but then decided it was far too much for one person. Lot 36 remains the last one available.
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