There are still some bargains to be found in the Australian property market with new analysis showing there are 43 suburbs where you can buy a house or unit for less than $400,000.

The Northern Territory features the most prominently in the PropTrack affordable market list, with 22 suburbs with medians of $400,000 or less.

Both Berrimah and Lee Point had median house prices below $400,000, while 20 unit markets were below that threshold including the Darwin CBD.

Hotspotting’s Autumn 2025 Price Predictor Index shows Darwin has become one of Australia’s leading markets, with sales activity soaring and indications it will perform strongly throughout 2025.

Of the larger capital city markets, Melbourne tops the list with eight suburbs, all unit markets, with low medians, including Albion, about 37km from the CBD, with a median unit price of just $281,000.
In Adelaide, there are seven suburbs on the list topped by Elizabeth Vale (about 30km from the Adelaide CBD) with a median unit price of $315,000.

Sydney has three metropolitan markets under $400,000 – Normanhurst, Vineyard and Carramar, while the ACT has two – Lyons and Hawker.

Hobart has one suburb under $400,000 – Gagebrook. REA Group economist Anne Flaherty says the number of suburbs below $400,000 has decreased dramatically in the past five to ten years.

“Access to metro (areas) increases demand, and with further price rises projected, it’s completely feasible that in two years’ time, we won’t have any suburbs left on that list,” she says.