Here's where to purchase suburban homes with a Sydney deposit

It’s no secret that home prices in Sydney have been rising like crazy, with the median house price at $1.6 million in the last quarter, but there’s no reason to keep eyes locked solely on the Harbour City.

New research from Domain reveals a handful of suburbs where aspiring homeowners can purchase an entire house for the same amount as a deposit in Sydney at $320,000.

Such an arrangement is made even more attractive with the flexibility that comes in a work-from-home setup, where many Australians are flocking out of capital cities for a tree or sea change.

Below are the median house values of suburbs in each region under or around Sydney’s $320,000 deposit fee.

New South Wales 

1. Forbes - $320,250
2. Tolland - $315,000
3. Mount Austin - $311,500
4. Inverell - $305,000
5. South Tamworth - $305,000
6. Cootamundra - $300,000

Queensland

1. Churchill - $320,000
2. One Mile - $320,000
3. Woodridge $315,000
4. Bundaberg East $319,000
5. Aitkenvale $306,000
6. Wulguru - $316,000

South Australia

1. Evanston - $317,000
2. Sailsbury North - $310,000
3. Munno Para - $304,438
4. Mount Gambia - $295,000
5. Whyalla Jenkins - $300,000

Victoria

1. Ararat - $316,000
2. Red Cliffs - $315,000
3. Mildura - $310,000
4. Terang - $310,000

Western Australia

1. Midland - $310,000
2. Brookdale - $315,000
3. Greenfields - $310,000

Tasmania

1. Montello - $312,000
2. Acton - $275,000
3. Smithton - $282,500

Brad Cramb, chief executive officer for distribution at Aussie, previously urged homebuyers to “consider where you might be willing to make compromises.”

“There are still opportunities to get into the property market if you expand your suburb search and adapt your thinking around how you might structure your home loan,” Cramb said.