Brighter Buying

Houses under $200,000? Tell ’em they’re dreaming.

by Kate Watt, Marketing Manager 6 April 2016

It might be something any property hunter can tell you, but CoreLogic RP Data has crunched the numbers to confirm that capital city houses for under $200,000 are virtually non-existent in Australia these days.

Just 0.6 per cent of capital city suburbs have a median house value of less than $200,000 compared to 13.1 per cent of regional suburbs. Jump up to the next price bracket and 15.4 per cent of capital city suburbs have a median value of $200,000 to $400,000 compared to 51.2 per cent of regional suburbs.

While the majority of regional housing sits in the $200,000 to $400,000 bracket, capital city housing values are more widespread. The largest segment – about one third – sits in the $400,000 to $600,000 bracket.

So where does Brisbane sit?

Our housing market also has around a third of its stock in the $400,000 to $600,000 price band. Our second largest segment is the more affordable $200,000 to $400,000 price band, whereas the combined capital city’s second largest price band is $600,000 to $800,000.

That’s good news for Brisbane house hunters.

So back to the question of houses for under $200,000… just how do you get one? We’re not sure CoreLogic RPData has the answer to that question, but Domain has proposed an interesting solution with its article on the $120,000 granny flat. Perhaps not to everyone’s taste – or council regulations – but if you want change from $200,000 it’s worth a read.

Want an affordable home? View our current listings for sale or check our listings for rent.

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