An Aussie buyers agent whose client list includes investors and military personnel has revealed 25 suburbs across five states where you can still buy an investment property for under $700,000.
Discover Buyers Agency principal Kane Drury said a widening mismatch between demand and supply at that “critical price point” had created both a quiet crisis and a genuine opportunity.
“Recent data confirms exactly what we’re seeing across our client base – that frustrated investors can’t find a home that matches their criteria,” he said.
Mr Dury cited recent analysis showing that nearly half of all property investor enquiries in Australia targetted homes priced under $700,000, yet homes at that price point make up only three in ten dwellings nationally.
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Discover Buyers Agency principal Kane Drury
The Australian median home price across all capitals and regions is now $908,000, according to the latest PropTrack Home Price Index.
Three cities now have a median home price – houses and units combined – of more than $1 million.
These include Sydney ($1.251m), Brisbane ($1.071m) and Perth ($1.012m).
Brisbane’s median home price is now $1.071m. iStock
Mr Drury said that the March 2026 PropTrack Westpac Investor Report revealed that the scale of demand at the affordable end of the market was being compounded by competition between investors, who have flooded back into the market with new investor loans up 64 per cent since the early-2023 low, and homebuyers looking to get a foot on the property ladder amid surging home prices.
But he said that opportunities for investors could be found beyond the main capital city markets.
“Investors who understand where to look can still build meaningful wealth at this price point, provided they are willing to think beyond the capital city postcode,” he said.
“The conversation about property has become so fixated on capital city medians that a huge cohort of everyday investors has been left with the impression that the door is closed.
“It is not closed. Successful long-term investors will be the ones who are strategic about where established housing fundamentals, such as population growth, tight rental supply, strong owner-occupier ratios, and multiple economic drivers, are doing the heavy lifting.”
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Investors should think beyond the capital cities Image: IStock
The March 2026 PropTrack Westpac Investor Report revealed that investor activity was at its highest level since 2004 in Queensland, and close to its highest level since 2010 in Western Australia.
Just $80 now seperates the median weekly rent across Australia’s combined capital cities and regions, according to the latest Market Insights report from realestate.com.au.
But Mr Dury said the type of asset matters as much as the location, and that not all $700,000 properties are created equal.
“New and off-the-plan product is almost always priced to include a developer margin, sales commission and marketing costs that come directly out of the buyer’s equity from day one,” he said.
“Established homes in established streets in established communities don’t carry that premium. “They have rental history, genuine comparable sales data, and they sit in neighbourhoods where the infrastructure, like schools, hospitals, transport, and retail already exists.
“That is where long-term capital growth comes from.”
1 Jones Street, Crows Nest, Qld, is listed for $685,000
Mr Dury also said real estate investors should never adopt a one-size-fits-all mindset.
“A location that is right for a 30-year-old PAYG investor building a first portfolio is not necessarily best for a 50-year-old trying to replace an income in retirement,” he said.
“The $700,000 price point is the starting reference, but any investment plan must be bespoke to the investor themselves.”
Mr Dury’s analysis revealed his sub-$700,000 picks across the five states, with investments delivering both strong gross rental yields and meaningful capital growth prospects.
“These are established communities with real economic bases, genuine rental demand and housing stock that has stood the test of time,” he said.
TOP 25 AND WHY
QUEENSLAND
Condon, Townsville – $687,000: 67% owner-occupiers. Proximity to Lavarack Barracks, James Cook University and Townsville University Hospital creates a resilient, diversified demand base for rental housing.
Wulguru, Townsville – $642,000: 70% owner-occupiers. Positioned on the ring road with easy access to both Lavarack Barracks and the CBD. The high proportion of owner-occupiers signals neighbourhood quality and long-term capital stability.
Mount Morgan, Rockhampton – $363,000: Yield 5.23%. Exceptional cash-flow-positive fundamentals with 75% owner-occupiers. Tight supply and community-scale demand underpin rental performance.
Norville, Bundaberg – $638,000: 69% owner-occupiers. Strong rental yields with value-add potential. Bundaberg’s diversified economy – agriculture, healthcare, tourism – underpins population stability.
Crows Nest – $692,000: Within an hour of Toowoomba and the South East Queensland growth corridor. Sub-$700,000 access driven by the ongoing decentralisation of Brisbane’s population and employment base.
22 North Beck Drive, Condon, is listed for $675,000
NEW SOUTH WALES
Ashmont, Wagga Wagga – $505,000: Yield 4.24%. Strong employment base anchored by Kapooka and the Riverina Medical and Dental Group. Compelling sub-$550,000 regional entry with high rental pressure.
Oxley Vale, Tamworth – $603,000: Sustained rental pressure in a regional centre with a diversified economy spanning healthcare, education, agriculture and manufacturing.
Muswellbrook – $680,000: Yield-focused and highly affordable by NSW standards. The Hunter Valley’s energy transition continues to drive infrastructure investment and broaden the economic base.
West Albury – $648,000: Yield 4.03%, 70% owner-occupiers. Part of the Albury-Wodonga corridor – one of the highest per-capita infrastructure spend regional centres in the country, with very low supply levels.
Hamilton Valley, Albury – $659,000: Yield 3.9%, 70% owner-occupiers. Shares Albury’s fundamentals – tight supply, strong public sector employment, high owner-occupier sentiment – with more contemporary housing stock.
6 Grant Miller Street, Muswellbrook, NSW is listed for offers between $650,000-$670,000
VICTORIA
Armstrong Creek, Geelong – $686,000: Long-term structural growth in a satellite city with genuine independence from Melbourne, backed by expanding healthcare, education and advanced manufacturing sectors.
Newcomb, Geelong – $639,000: Lifestyle appeal, proximity to the Geelong CBD and waterfront, and direct access to Melbourne. Geelong’s growth as a decentralised alternative to Melbourne continues to drive long-term demand.
Broadmeadows, Melbourne – $674,000: Solid yield underpinned by Melbourne’s ongoing population growth and proximity to the northern employment corridor. A long-term capital growth story in Australia’s most resilient property market.
Fraser Rise, Melbourne – $685,000: Positioned in Melbourne’s western growth corridor with solid yields and structural tailwinds of population growth and sustained infrastructure investment.
Morwell, Latrobe Valley – $441,000: Yield 4.51%. Exceptional affordability and yield in a regional centre undergoing economic transition, offering real cash flow alongside long-term repositioning prospects.
173 Heartland, Morwell, Vic, is listed for $665,450
SOUTH AUSTRALIA
Eyre, Adelaide – $641,000: Yield 4.29%, 81% owner-occupiers. Capital city access with strong yield in a high-owner-occupier suburb – a rare combination where investor resale profitability has been near-universal.
Hillier, Adelaide – $639,000: 93% owner-occupiers – an extraordinary figure signalling entrenched community stability and very low speculative activity. Low supply and building rental pressure point to sustained demand.
Callington – $689,000: 85% owner-occupiers. Semi-rural lifestyle characteristics within reach of the Adelaide metropolitan area, with price point and rental pressure converging.
Mount Gambier – $604,000: Very low supply levels and declining days on market – a combination that consistently precedes price movement. South Australia’s second-largest city, anchored by forestry, agriculture and tourism.
Mannum – $620,000: Very tight rental supply in a Murray River location with genuine lifestyle appeal. Constrained stock and consistent demand make it a distinctive regional proposition.
WESTERN AUSTRALIA
Medina, Perth – $639,000: Yield 4.0%, 67% owner-occupiers. Capital city exposure at a price point still accessible to everyday investors, in a state where investor lending is at its highest share since 2010.
Armadale, Perth – $678,000: Yield 4.16%. On Perth’s southern growth corridor with strong infrastructure investment and sustained rental demand. Affordability relative to inner-city Perth continues to attract both renters and owner-occupiers.
Collie, Bunbury region – $566,000: Yield 4.85%, 80% owner-occupiers. A lifestyle-driven regional location south of Bunbury with a yield profile that outperforms most capital city equivalents.
Beachlands, Geraldton – $579,000: Very tight rental and sales supply with strong underlying demand. Geraldton’s role as the Midwest’s primary regional centre – healthcare, education, mining services, port – provides genuine economic diversification.
Spalding, Geraldton – $504,000: Tight rental supply and sustained rental pressure at an entry price that delivers real cash-flow potential. A market dynamic that reflects genuine undersupply rather than speculative demand.
3A Avard Place, Armadale, WAin already under offer after being listed for offers over $679,000
