If you have been searching for affordable housing for a long time, now you do not need to worry. We have come up with the top destinations with affordable pricing now in your country (refer to the figure below):
Coober Pedy-South Australia
Coober Pedy has the highest position regarding top affordable housing destinations. With the combination of beautiful culture and affordability, it is located in South Australia. You will be surprised to know that in this location, you can afford a house worth just $91250, which is cheaper than any other place for affordable housing. You can consider this location a good spot for investors as well to earn promising rental income with low investment.
Collinsville-Queensland
Collinsville is another top location in Queensland, the Whitsunday region, where you can expect low-cost homes with an average housing price of $165,000. Further, last year, due to its amazing prices, 75 houses were sold with an increase in growth rate of 5.2%, which signifies it is the best spot for investment.
You can seek high rental yields of 12.35% here, with an average weekly rent of $390.
Por Pirie West-South Australia
It has the third position in the list of low-priced, affordable houses with a median price of $171,500 and the benefits of government initiatives like the First Home Owner Grant (FHOG) and the HomeSeeker SA program. Thus, if you are the first home buyer and have a small budget, then having a home in this location will be a budget-friendly decision for you.
You can also get high rental yields here due to the government’s commitment to providing public housing for a total of 4817 homes by 2026 under the PHIP (Public Housing Improvement Program).
Charleville-Queensland
Located in Queensland, Charleville is also found to be the best location for affordable housing, with a median price of $172,500. This makes it the most attractive place for first-home buyers and investors. It means if you are a first-home buyer, then you can enter the property market by buying your first home here with the benefit of affordability.
Being an investor seeking high rental returns as well, this location is good for you to invest in. Here you can easily earn $200 to $350 every week.
Queenstown-Tasmania
Compared to the above locations, Queenstown is not that feasible for affordable housing and has the median price simple to Charleville of $172500. However, due to government initiatives like the Joint Housing Action Plan now being a first home buyer, you can avail benefits of affordable buying here as well. This program is in collaboration with various stakeholders, like the Ministry of Housing and Urban Development and Queenstown Lakes Community Housing Trust.
If you are an investor, then you can expect high rental rates compared to household incomes due to the limited availability of properties. Last year, this location showed an increase of 4.5%, which will be a plus point for you to invest in this location.
Peterborough-South Australia
Peterborough is among the best locations in South Australia where you can find the best places to live at affordable prices. Currently, this location is offering a median price of $175,500 with unique natural beauty, making it the best place for a relaxed lifestyle.
Being an investor, you can seek maximum rental earnings while investing in this location, as the home prices are relatively cheap with high growth potential. Last year, this location showed a tremendous increase of 21.3%.
This location is also under the government program of affordable housing, which makes it an attractive point for you as a first-home buyer. This is because you can easily gain stable housing options at low cost with high returns.
Kambalda West-Western Australia
Kambalda West will be the choice for you as a first-home buyer. This is because it offers a median price of $180,000 and showed a decline in prices by 6.7% last year. It means you will find low-cost homes here if you have tight budgets and want a good place to live.
Further, if you are an investor, you can earn good rental earnings of around $365 per week here, indicating that is a good place to invest for affordable housing. With high demand and low competition, you will get the benefit of price appreciation with quick home sales. Thus, in every way, this location is just perfect to give better incomes with low investments.
Warracknabeal-Victoria
In Victoria, you can check the Warracknabeal region for good deals on affordable housing with a median price of $198,000. This means if you are a first-time buyer, then this place for budget-friendly housing is a good choice for you. Last year, it showed a growth rate of 4.4%, which is a plus point for investors as well.
In terms of rental earnings, you can expect a median rent of $320 weekly with an 8.76% yield. Thus, being an investor, you can seek maximum benefits of low rates of housing and maximum rental earnings.
Tara-Queensland
In Tara, Queensland, you can see a median price of $200,000 with an annual change of 10.3%, which will be a good choice for you being a first home buyer or an investor.
Government initiatives are also active in this location for affordable housing, like the FHOG (First Home Owners Grant), in which you can get a grant of $30,000 until June 2025. Being an investor too, you can expect good rental yields here.
Broken Hills- New South Wales
This is the last but not the least location in New South Wales, Broken Hills, which can offer a median price of $203,500 for affordable housing. It has shown an annual change of 14.8%, which highlights it as the potential location for you as an investor to gain good rental yields.
Further, if you are a first-home buyer, then you can avail benefits of FHBAS (First Home Buyers Assistance Scheme) and FHOG (First Home Owner Grant). It is because this location is also covered in these schemes.
So, this is the list where you can seek maximum benefits, being a first-home buyer and an investor.
For more details and a guide, you can contact us at Nfinity Financials or call at 1300 GET LOAN (1300 438 562) or 0456 456 267. We will offer the best guide to you so that you can gain maximum benefits out of these locations.
