In the past year, property prices across Australia increased dramatically by 23.4%. Those buyers who are on a tight budget are particularly longing to uncover a real estate bargain.
In New South Wales, one of the cheapest areas happens to be Mannering Park, located on the state’s central coast, where the median house price is set at $614,000. Proven that it has a direct position on Lake Macquarie with numerous recreational activities available in its surrounds, Mannering Park is a holiday hotspot at its finest. With a thriving population, great schools, and close proximity to the M1, this location is perfect for those who are searching for a change of scenery and is a good chance for those first home buyers wishing to step foot in the market or for those who wish to retire in an amazing waterfront location.
The cheapest metropolitan suburb overall within NSW is that of Emerton, located in Sydney’s West, with a median house price of $580,000. Other areas in close proximity in the Blacktown region with low median house prices are Lethbridge Park ($602,500), Blackett ($605,000), Tregear ($607,500) and Bidwill ($608,750).
Among the cheapest metropolitan suburbs for units within NSW happens to be Warwick Farm, with a median house price of $358,000, followed by Wiley Park, with a median price of $378,000.
Moving along to Melbourne, the cheapest metro suburb to purchase a house in was Millgrove, located in the city’s outer east, with a median house price of $531,000. With a very friendly neighbourhood, access to the river, mountain bike tracks, great supermarkets and dining options, Millgrove has so much to offer.
The suburb of Melton, in the city’s west, was Victoria’s cheapest suburb for houses overall, with a median price of $450,000, followed by Kurunjang ($486,000), Melton South ($500,000) and Coolaroo ($500,000).
The cheapest metropolitan area for units overall is the suburb of Albion, in Melbourne’s west, with a median unit price of $285,000, followed by Melton South ($321,250) and Melton ($346,00).
When it comes to South Australia’s list of cheapest suburbs, Elizabeth North has a median price of only $209,000. Elizabeth North is described as a hidden treasure, particularly for first home buyers and savvy investors.
Salisbury was noted as South Australia’s cheapest suburb for units, with a median unit price of $255,000.
Moving down to Tasmania, the Australian state with the cheapest suburb for houses, Bridgewater documented a median house price of $377,875. With good amenities such as shopping and parks to a popular private school nearby, the demand for houses within Bridgewater has continuously increased. The area has become more and more popular.
Hobart’s suburb of Claremont ranked the state’s cheapest for units, with a median price of $403,500.
Transitioning to booming Queensland, there have been no major Brisbane suburbs on the state’s list for the cheapest areas for a house. Russell Island, located southeast of Brisbane, comes in on top with a median house price of $255,000, followed by Laidley ($271,500) and Riverview ($300,000).
In regards to units, some of the lowest metro area median prices in the Sunshine State were Woodrige ($181,158), Goodna ($221,000) and Brassall ($240,000).
Reach out to Greenline Home Loans today!
If you have been considering buying your first home, buying a residential property or wanting a residential investment property loan and are looking for the best home loans, get in touch with our team of experienced brokers at Greenline Home Loans. We have access to 50 lenders and a strong relationship with several major banks to assist you and offer a solution to suit your needs.
At Greenline Home Loans, we will tailor the best solution for your needs and walk with you hand in hand from the first day you consider purchasing an investment property with your super. Contact our friendly team of brokers to speak about low rate home loans on 1800 705 505 to get started today!
We have a team of experienced brokers at Greenline Home Loans who can assist you with acquiring and applying for commercial property loans, investment loans, home loans, bridging loans, debt consolidation and more. Our team can ensure we offer top customer service, provide personalised advice, and guide you through the process of an investment or commercial property loan.
Our commercial property loans and investment property loans have several features which aim to assist you in meeting your financial and personal goals, with added ease and security.
Commercial property loans
You may be looking for a commercial property loan for many reasons. Commercial property loans are generally used when someone is looking to buy a premise for their company, although can sometimes be used when an investor is looking to diversify their property portfolio. Greenline Home Loans can assist you in finding the best commercial property loan for you and provide many benefits and offer a range of opportunities for you and your business, which may include:
- Onboarding of new staff members
- Implementation of new contracts
- Increased stock levels
- Equipment upgrades
- Initiatives and campaigns to boost new business
Greenline Home Loans can assist in all aspects of applying and acquiring your commercial property loan, and will work with you to understand your circumstances, goals, requirements, and budget. Our commercial property loans have 4 main features which include:
- Flexibility with loan terms – a commercial property loan can generally be paid off over a shorter loan term in comparison to a home loan. Our commercial property loans are offered over various terms.
- Interest-only repayments – commercial lenders may be able to negotiate interest-only repayments for commercial property loans for people who meet certain requirements such as a large deposit and strong cash flow.
- Capitalising interest – there may be the possibility for the interest of your loan to be added onto the commercial property loan depending on some variables such as the loan staying below a certain threshold and under a specific percentage of the property value.
- Line of credit facility – line of credit offers flexibility, control and value which may be beneficial for a commercial premise as maintenance and costs can add up.
Our experienced brokers at Greenline Home Loans can answer any questions you may have about commercial property loans, the process of applying and what the loans entail.
Investment property loans
A residential investment property may be an appealing option if you are looking to expand your investment portfolio or meet your financial and investment goals. Our friendly team aims to guide you throughout the process of securing an investment loan, from the application process through to post-settlement.
Greenline Home Loans can assist you in finding the best residential investment property loan for you and provide many benefits and offer a range of opportunities for you and your investment goals, which may include:
- Interest-only payments – interest-only payments allows borrowers to only pay interest for a set amount of time, which generally ranges from 5-10 years which is a great way to save some extra money.
- Offset account – an offset account can be used by investors as a form of a savings account, which may reduce the interest charged towards your loan depending on the balance of the offset account.
- Repayment holiday – a repayment holiday can be used if the investor needs to take a break from repayments (which is generally available for up to 12 months) in the event that the property is unoccupied, and the investor is not able to rely on rental income.
- Line of credit facility – a line of credit facility may be an option where the investor can borrow additional money without reapplying, and it will be secured against the equity in the property.
Our friendly team at Greenline Home Loans can assist you with any questions or queries you may have about investment loans. We aim to assist you in meeting your future and financial goals!
Reach out to Greenline Home Loans today!
If you have been considering buying a residential investment property, or are looking into commercial property loans, get in touch with our team of experienced brokers at Greenline Home Loans. We have access to 50 lenders and a strong relationship with several major banks to assist you and offer a solution to suit your needs.
At Greenline Home Loans we will tailor the best solution for your needs and walk with you hand in hand from the first day you consider purchasing an investment property to looking at investment property loans. Contact our friendly team of brokers to speak about investment loans, commercial property loans and home loans on 1800 705 505 to get started today!