Days of buying a property for less than $500,000 'almost over'
The surge in prices for outer suburban homes over the past two years has reduced the pool of suburbs with median dwelling values below $500,000 to a mere handful.
Hobart offers more than its share of suburbs in Australia with a median dwelling value below half a million dollars. (Image source: Shutterstock.com)
You don’t need to go to the ends of the earth to find a capital city house for under $500,000, the latest data shows.
But you probably will need to go to the ends of the continent.
With two interest rate cuts already this year — and two to three more on the cards before Christmas — first home owners and investors are looking to act quickly before prices take off again.
That has many asking the question: is anything truly “affordable” anymore? And…
