Home News Which Victorian suburbs have the cheapest homes?

Which Victorian suburbs have the cheapest homes?

Font size :

There are affordable suburbs in Victoria with median home price below $200,000

While Melbourne is currently in a market downturn, the decline in prices is not enough to make it affordable for an average-earning Australian.

However, there are still some places in the Victoria which are much more affordable. Homes in city outskirts and regional areas have prices below $200,000 -- perfect for first-home buyers who may have a limited budget.

According to a list by View.com.au, Warracknabeal is the most affordable housing market in Victoria for its $125,000 median home price. Sitting on the banks of the Yarriambiack Creek, Warracknabeal is 360 kilometres of Melbourne. The suburb is known for its local agricultural economy.

Another suburb worth considering is Orbost, which is 375 kilometres east of Melbourne and has a median home price of $158,000. The Orbost housing market, however, is comparatively slow –  properties stay on the market for 300 days on average.

The town of Moe in the Latrobe Valley is also worth considering. The suburb is 130 kilometres away from Melbourne has a median dwelling price of $169,500.

Last on the sub-$200,000 list is Kerang, which is located on the banks of the Loddon River. Kerang houses usually cost around $162,000. It has an airport and trains to Melbourne, which is 277 kilometres away.

Related Stories:
Prices in NSW and Victoria regional centres on the rise
Now is the best time to buy your first home in Victoria

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan

Mortgage News and Articles

5 tips to help you buy in a slow housing market 5 tips to help you buy in a slow housing market

A buyer's market is not as easy to navigate to as it seems Read more

Australia to remain world's worst-performing housing market this year – report Australia to remain world's worst-performing housing market this year – report Don't expect a rebound in prices anytime soon ... Read more

This historic Italian town sells homes for a little over $1 This historic Italian town sells homes for a little over $1 The catch? You have to promise to renovate the home within the next three years ... Read more

How bad will the housing downturn turn out this year? How bad will the housing downturn turn out this year? While the worst is yet to come, a crash is still unlikely ... Read more

More mortgage news and articles

Sponsored Links

Saturday, Jan 19, 2019
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords