New Domain report revealed Australia’s most affordable homes, with Coober Pedy leading as the cheapest place to buy, offering unique cultural and historical value.
Coober Pedy, known for its stark outback beauty and distinctive underground homes, leads the list of Australia’s most affordable places to buy property, according to Domain.
With a median house price of just $91,250, it’s cheaper to buy a home in Coober Pedy than a luxury car.
This remote opal mining town, located about 900km north of Adelaide along the Stuart Highway, has attracted Hollywood filmmakers for decades, serving as a backdrop for movies like the 1985 classic Mad Max: Beyond Thunderdome and others due to its Mars-like landscape, Domain reported.
Following Coober Pedy is Collinsville in Queensland’s Whitsundays region, boasting a median house price of $165,000.
While lacking ocean views, Collinsville offers a picturesque setting with its farmland, orchards, and rich mining heritage. Despite its affordability, the town has seen a housing price increase of 5.2% over the past year according to Domain’s latest House Price Report.
Among the top 10 most affordable places, each location boasts median prices that are less than a third of the regional national median of $645,706.
Notably, Broken Hill in New South Wales made the list with a significant price growth of 14.8% over the past year.
Known as the “Silver City” for its rich deposits of silver, lead, and zinc, Broken Hill is not only the oldest mining town in Australia but also the birthplace of mining giant BHP.
Its historical significance and cultural landmarks, like the Palace Hotel featured in The Adventures of Priscilla, Queen of the Desert, make it a unique spot for potential homeowners, Domain reported.
Read the Domain report in full here.
