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Joseph Ballota
By Joseph Ballota
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200 Sydney suburbs where you can still buy a property for under $1 million

Sydney’s property market turned a corner in 2023, with prices rising consistently over the past 12 months and close to recovering to their pandemic peak.

Sydney’s median house price is the highest across the country, at $1.4 million, while the capital city’s median unit price reached $834,578 in January.

That’s the cost of living in an international city on the water which offers an unparalleled lifestyle.

Sydney

The problem is, thanks to high inflation, rocketing interest rates and reduced borrowing capacity, the pool of buyers able to afford the median-priced property in many Sydney suburbs is getting smaller by the day.

First-home buyers in particular struggle to get onto the ladder as affordability issues push many property areas further out of reach.

But the good news is there are still plenty of suburbs across the city where the price tag is a little more affordable.

Domain’s latest House Price Report reveals that there are still 200 Sydney suburbs where the median house or unit price sits below $1 million.

The cheapest suburbs to buy property in Sydney

Rank Suburb Postcode Property type Distance To CBD (km) Median Price
1 Kingswood 2747 Unit 52 $370,043
2 Lakemba 2195 Unit 13 $392,000
3 Wiley park 2195 Unit 14 $400,000
4 Cabramatta 2166 Unit 26 $400,000
5 Mount Druitt 2770 Unit 38 $400,000
6 Fairfield 2165 Unit 24 $414,100
7 Punchbowl 2196 Unit 17 $425,000
8 Harris Park 2150 Unit 19 $430,000
9 Warwick Farm 2170 Unit 26 $435,000
10 Guildford 2161 Unit 20 $440,000
11 St Marys 2760 Unit 42 $440,000
12 Blacktown 2148 Unit 30 $452,500
13 Merrylands 2160 Unit 21 $470,500
14 Liverpool 2170 Unit 28 $480,000
15 Rosehill 2142 Unit 17 $482,000
16 Bankstown 2200 Unit 17 $490,000
17 Roselands 2196 Unit 14 $500,000
18 Granville 2142 Unit 19 $513,000
19 Campbelltown 2560 Unit 43 $520,000
20 Penrith 2750 Unit 50 $520,000
21 Toongabbie 2146 Unit 26 $533,000
22 Auburn 2144 Unit 17 $550,000
23 Westmead 2145 Unit 22 $550,000
24 Northmead 2152 Unit 22 $550,000
25 Belmore 2192 Unit 12 $555,000
26 Yagoona 2199 Unit 18 $555,000
27 Wentworthville 2145 Unit 23 $560,750
28 North Parramatta 2151 Unit 20 $585,000
29 West Ryde 2114 Unit 13 $600,000
30 Riverwood 2210 Unit 17 $605,000
31 Penshurst 2222 Unit 16 $617,000
32 Parramatta 2150 Unit 20 $620,000
33 Campsie 2194 Unit 11 $622,000
34 Eastlakes 2018 Unit 7 $645,000
35 Enfield 2136 Unit 11 $645,750
36 Homebush 2140 Unit 12 $649,000
37 Rouse Hill 2155 Unit 34 $660,000
38 Lethbridge Park 2770 House 41 $660,000
39 Mortdale 2223 Unit 17 $665,000
40 Edmondson Park 2174 Unit 34 $665,000
41 Airds 2560 House 42 $666,100
42 Canterbury 2193 Unit 10 $669,000
43 Rockdale 2216 Unit 11 $670,000
44 North Kellyville 2155 Unit 44 $670,000
45 Carlingford 2118 Unit 18 $675,000
46 Hillsdale 2036 Unit 9 $680,000
47 Hornsby 2077 Unit 22 $680,000
48 Oxley Park 2760 House 40 $680,000
49 Mount Druitt 2770 House 38 $687,250
50 Werrington 2747 House 44 $688,750
51 Engadine 2233 Unit 28 $690,000
52 Sutherland 2232 Unit 23 $691,000
53 Strathfield 2135 Unit 12 $695,000
54 Asquith 2077 Unit 22 $695,000
55 St Marys 2760 House 42 $696,000
56 Whalan 2770 House 39 $697,500
57 Bexley 2207 Unit 12 $699,000
58 Rushcutters Bay 2011 Unit 2 $700,000
59 Allawah 2218 Unit 15 $700,000
60 Schofields 2762 Unit 36 $700,000
61 Carlton 2218 Unit 14 $700,500
62 Arncliffe 2205 Unit 10 $710,000
63 Hurstville 2220 Unit 14 $712,000
64 Waitara 2077 Unit 20 $718,000
65 Eastwood 2122 Unit 15 $720,000
66 Meadowbank 2114 Unit 13 $725,000
67 Newtown 2042 Unit 4 $727,500
68 Gladesville 2111 Unit 9 $727,500
69 Kellyville 2155 Unit 30 $730,000
70 Baulkham Hills 2153 Unit 25 $732,000
71 Wentworth point 2127 Unit 13 $735,000
72 Brighton-le-sands 2216 Unit 11 $740,000
73 Lidcombe 2141 Unit 15 $740,000
74 Kingswood 2747 House 52 $740,000
75 Ryde 2112 Unit 11 $741,000
76 Rosemeadow 2560 House 47 $741,000
77 Macquarie Fields 2564 House 32 $748,500
78 Sydney Olympic Park 2127 Unit 13 $750,000
79 Peakhurst 2210 Unit 18 $750,000
80 Caringbah 2229 Unit 20 $750,000
81 Miranda 2228 Unit 21 $750,000
82 Penrith 2750 House 50 $752,000
83 Chippendale 2008 Unit 2 $758,000
84 North Ryde 2113 Unit 11 $760,000
85 Kogarah 2217 Unit 13 $760,000
86 Cabramatta 2166 House 26 $760,000
87 Ashfield 2131 Unit 8 $762,500
88 Kirrawee 2232 Unit 22 $762,500
89 Wolli Creek 2205 Unit 9 $765,000
90 Ambarvale 2560 House 45 $765,625
91 Greenwich 2065 Unit 5 $769,100
92 Epping 2121 Unit 16 $770,000
93 Stanmore 2048 Unit 5 $773,000
94 North Strathfield 2137 Unit 11 $776,000
95 Marsfield 2122 Unit 14 $778,000
96 St Helens Park 2560 House 45 $780,000
97 Cambridge Park 2747 House 47 $782,500
98 South Windsor 2756 House 46 $783,500
99 Leumeah 2560 House 40 $785,000
100 Botany 2019 Unit 9 $787,500
101 Bradbury 2560 House 44 $787,500
102 Newington 2127 Unit 15 $790,000
103 Eagle Vale 2558 House 41 $790,000
104 Richmond 2753 House 51 $790,000
105 Ruse 2560 House 41 $795,000
106 Petersham 2049 Unit 6 $800,000
107 Ingleburn 2565 House 35 $800,000
108 Campbelltown 2560 House 43 $800,000
109 Woolooware 2230 Unit 20 $805,000
110 St Andrews 2566 House 39 $810,000
111 Leichhardt 2040 Unit 5 $812,000
112 Sans Souci 2219 Unit 16 $812,500
113 Lane Cove North 2066 Unit 8 $815,000
114 Colyton 2760 House 39 $819,000
115 Marrickville 2204 Unit 7 $820,000
116 Gymea 2227 Unit 22 $820,000
117 Dulwich Hill 2203 Unit 8 $825,000
118 Rooty Hill 2766 House 36 $833,000
119 Lane Cove 2066 Unit 7 $835,000
120 Minto 2566 House 38 $835,000
121 Ultimo 2007 Unit 2 $850,000
122 Plumpton 2761 House 37 $850,000
123 South Penrith 2750 House 48 $852,000
124 Alexandria 2015 Unit 5 $855,000
125 Lurnea 2170 House 30 $858,250
126 Raby 2566 House 40 $861,000
127 Rosebery 2018 Unit 6 $862,500
128 Cranebrook 2749 House 50 $862,500
129 Mascot 2020 Unit 8 $865,000
130 Kingsford 2032 Unit 7 $870,000
131 Ropes Crossing 2760 House 43 $870,000
132 Bligh Park 2756 House 46 $870,000
133 Paddington 2021 Unit 2 $875,000
134 Lalor Park 2147 House 28 $875,000
135 Glendenning 2761 House 35 $875,000
136 Claremont Meadows 2747 House 44 $877,500
137 Fairfield 2165 House 24 $878,000
138 Mount Pritchard 2170 House 29 $880,000
139 Austral 2179 House 38 $880,000
140 Currans Hill 2567 House 45 $880,000
141 North Richmond 2754 House 56 $880,000
142 Norwest 2153 Unit 35 $880,000
143 Dee Why 2099 Unit 15 $888,000
144 Waterloo 2017 Unit 3 $895,000
145 Summer Hill 2130 Unit 7 $895,000
146 Casula 2170 House 30 $895,000
147 Glenfield 2167 House 31 $895,000
148 Turramurra 2074 Unit 17 $899,500
149 Surry Hills 2010 Unit 2 $900,000
150 Camperdown 2050 Unit 3 $900,000
151 Lewisham 2049 Unit 6 $900,000
152 Brookvale 2100 Unit 13 $900,000
155 Blacktown 2148 House 30 $900,000
156 Liverpool 2170 House 28 $901,000
157 Centennial Park 2021 Unit 4 $902,750
158 Macquarie Park 2113 Unit 12 $905,000
159 Concord 2137 Unit 10 $907,500
160 Homebush West 2140 Unit 13 $910,000
161 Doonside 2767 House 33 $910,000
162 Darlinghurst 2010 Unit 1 $914,000
163 Potts Point 2011 Unit 1 $915,000
164 Burwood 2134 Unit 10 $915,000
165 Jordan Springs 2747 House 47 $915,000
166 Mortlake 2137 Unit 10 $920,000
167 Girraween 2145 House 26 $920,000
168 Marayong 2148 House 32 $920,000
169 Narellan Vale 2567 House 48 $921,500
170 Rhodes 2138 Unit 12 $922,500
171 Granville 2142 House 19 $922,500
172 Matraville 2036 Unit 11 $925,000
173 Manly Vale 2093 Unit 11 $925,000
174 Castle Hill 2154 Unit 25 $927,500
175 Cobbitty 2570 House 51 $930,000
176 Green Valley 2168 House 32 $935,000
177 Gregory Hills 2557 House 44 $936,500
178 Little Bay 2036 Unit 13 $939,800
179 St Peters 2044 Unit 6 $940,000
180 St Clair 2759 House 44 $940,000
181 Maroubra 2035 Unit 9 $945,500
182 Kensington 2033 Unit 5 $950,000
183 Wahroonga 2076 Unit 19 $950,000
184 Bardia 2565 House 34 $950,000
185 Emu Plains 2750 House 52 $950,000
186 Redfern 2016 Unit 3 $953,000
187 South Wentworthville 2145 House 23 $955,000
188 Spring Farm 2570 House 50 $955,000
189 North Sydney 2060 Unit 4 $960,000
190 Elderslie 2570 House 65 $960,000
191 Kings Park 2148 House 31 $968,000
192 Prestons 2170 House 32 $970,000
193 Five Dock 2046 Unit 7 $970,500
194 St Ives 2075 Unit 16 $975,000
195 Hinchinbrook 2168 House 32 $976,000
196 Smithfield 2164 House 25 $977,000
197 Fairfield West 2165 House 26 $977,500
198 Artarmon 2064 Unit 7 $980,000
199 Gordon 2072 Unit 14 $994,000
200 Cronulla 2230 Unit 22 $995,500

Source: Domain

Domain’s list shows where the more affordable suburbs are located.

In Darlinghurst and Points Point, for example, which are both just 1km away from the Sydney CBD, the median unit price is around $914,000 and $915,000 respectively.

Meanwhile, you could buy a unit in Sydney’s most affordable suburb, Kingswood, for around $370,043, but the suburb is located 52km away from the city centre.

Kingswood houses come in a bit higher with a $740,000 median.

Lakemba follows as Sydney’s second-most affordable suburb, located 13km south-west, with a median unit price of $392,000.

The data shows that the most affordable houses are located in Lethbridge Park, 40km west of the CBD, which has a median of $660,000.

The area’s typical house has three bedrooms and one or two bathrooms and sits on a good block of land ranging from 600 to 650 square metres.

For those still looking to live less than 2km from the city centre, the median unit price in Rushcutters Bay is $700,000, and in Ultimo it’s $850,000.

What’s behind the affordable property prices?

Generally, most (not all) of these affordable areas with lower median prices are in areas where demand is low and amenities and transport links are hard to come by.

Other areas may be in a great location but on a less desirable street, very small in size or lacking amenities that other properties in the same area are able to offer.

It’s an important consideration because, as I always say, it’s not just the property – it’s about location.

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Note: I believe that location will do about 80% of the heavy lifting of your property’s capital growth.

And not all locations are created equal.

Some suburbs will be more popular than others, some areas will have more scarcity than others and over time some land will increase in value more than others.

The suburbs mentioned in the lists above might look like a well-priced investment opportunity but many of them are on the low end of the pricing spectrum for a reason: location.

And the location is something you cannot change.

That’s why it’s important to buy your investment property in a suburb that is dominated by more homeowners, rather than a suburb where tenants predominate.

And you’ll find suburbs where more affluent owners live will outperform the cheaper outer suburbs where wage growth is likely to stagnate moving forward.

This is because the more established suburbs with better infrastructure, shopping, and amenities tend to be close to the CBD and the water and that’s where the wealthy want to and can afford to live, and they’re prepared to pay a premium to live there.

Overall, by focussing your research on what those often overlooked owner-occupiers are doing, you may just find an investment that outperforms the market and delivers strong value and growth over the long term.

Despite these areas being ‘cheap’, their low median house and unit prices alone aren’t enough alone to warrant a good investment opportunity.

‘Cheap’ property will always be ‘cheap’ so don’t get lured into thinking you’re getting a bargain.

Also, never expect investment-grade returns from secondary locations and properties.

Joseph Ballota
About Joseph Ballota Joseph is a Property Coach who put hundreds of people on the road towards wiping away their mortgage in under 5 years through expert Property Investment Plans.
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