Despite rising property prices, there’s still hope out there from buyers with a deposit under $100,000.
Canstar’s Deposit Stars report reveals that many Australian suburbs remain accessible for buyers with deposits as low as $50,000 or $100,000.
In Queensland, top picks include Bowen Hills, Woodridge, and Redcliffe Peninsula.
Bowen Hills offers units under $500,000, while Woodridge has seen a 30 per cent price increase, making it an emerging hotspot.
New South Wales buyers should consider Liverpool, Wiley Park, and St Marys.
Liverpool boasts units under $500,000 with excellent infrastructure, while St Marys remains one of the few suburbs where houses can be purchased for under $900,000.
Victoria’s affordable options include Parkville, Melton South, and Notting Hill.
Parkville offers units around $495,000, while Melton South is one of the few areas in Greater Melbourne with houses below $500,000.
In South Australia, Elizabeth South, Modbury, and Mawson Lakes stand out as affordable choices. Elizabeth South has seen a 52 per cent price increase but remains accessible, while Modbury and Mawson Lakes offer solid infrastructure.
Tasmania’s property market may have cooled after years of rapid growth, but Glenorchy remains an affordable option for buyers
Canstar’s finance expert, Effie Zahos, said buyers need to use strategic thinking and patience when entering the property market.
“For buyers, especially first-home buyers, it’s all about understanding your budget and being realistic about what you can afford,” Ms Zahos said.
Managing director of Hotspotting, Terry Ryder, said there’s been a clear shift towards units and townhouses with new buyers.
“There’s been a noticeable trend toward attached dwellings like units and townhouses, especially in capital cities,” Mr Ryder said.
“These properties are often more affordable and better located, giving buyers the opportunity to live closer to the city or in desirable areas without breaking the bank.”
He said this reflects a broader change in buyer preferences, driven by affordability and location advantages.
Both experts agree that home ownership is still achievable with careful planning and an open mind about location and property type.
“It’s about being smart with your money, understanding the market, and being patient,” Ms Zahos said.
