The cheapest homes in Australia 2023: uncovering hidden gems around the country

You’d be forgiven for thinking you couldn’t find a single house under $400k in Australia, with the prices of property the way it is. Contrary to popular belief, not every desirable home in Australia carries a steep price tag. We’ve taken a look on Homely for Australia’s best-kept property secrets – houses under $400k near major capital cities. Here, we highlight properties that combine affordability with appeal, proving that you don’t need to break the bank to find a wonderful home. Whether you’re stepping onto the property ladder for the first time, looking to renovate or rebuild, score a weekender or looking to invest, you can get your foot on the ladder with these very, very affordable homes.

1. 86/186 Sunrise Avenue, Halekulani NSW 2262

Listed for $240,000-$260,000, this well-maintained home, nestled in the sought-after Bevington Shores is adjacent to a scenic reserve and with the serene Lake Munmorah merely steps away.

2. 12 Bowes Street, Queenstown TAS 7467

This is your opportunity to rebuild to your heart’s content in Queenstown, Tasmania. Set on a huge 590msq of land for $80,000, this is the ultimate knock down, rebuild delight.

3. 26 Clarke Street, Crowlands VIC 3377

Listed for $130k – $143k, this property sits near the beautiful Grampians and Pyrenees wine regions in Victoria. Originally the Crowlands Post Office, this home is now used as a weekender. With a bit of love, it could be the ultimate dream winery getaway. 

4. 15 Johnston Street, Wickepin WA 6370

This quaint 3×1 timber and pressed tin family home in Wickepin, WA can be yours for $150,000. Spanning 2 blocks (sold as one), this property boasts a vast 3238m2 backyard. With reverse cycle air-conditioning, a fireplace, and a 54m2 powered shed. Features include a cool room, proximity to convenience stores (400m), and the local Primary school (300m), it’s a great opportunity for a young family to get in and renovate.

5. 37a Morgan Street, Sebastopol VIC 3356

Are you a tradie or know a few? Finish the last construction phase, acquire the occupancy certificate, and relish the modernity of this gorgeous townhouse. It features 4 large bedrooms, including a grand master with a vast walk-in robe and lavish ensuite for $325,000!

6. 90 Beverin Street, Sebastopol VIC 3356

Listed for $275k-$295k, you can pick up prime Sebastopol, this property beckons redevelopment. Perfect for single/multi-building or potential business use (S.T.C.A). Conveniently near amenities like sports facilities, major shopping, schools, and transport. The 613m2 site with nearby public transport holds the opportunity to bring your visions to life.

7. 0 Corner of Ring & Learmonth Road, Wendouree VIC 3355

An ‘Administration Sale, this home can be yours for $300k- $330k!  Spacious open-plan living, modern kitchen and dining, and renovated bathrooms. Enjoy large bedrooms and veranda views. The choice is yours!

8. 12 Toora Street, Morwell VIC 3840

Newly rendered with a fresh coat of paint and new flooring, this 2bed, 1 bath, 2 car on 677msq in Morwell is asking $269,000. A great home to nest or invest as they say!

9. 7 Glass St, Trayning WA 6488

Finally, the best bargain out there right now is this home in the wheatbelt region of Trayning, WA selling for $44,900! Perfect for renovating or rebuilding, this home offers 3 bedrooms and a sleepout.