With housing affordability reaching its worst level on record, thousands of Millennials are fleeing capital cities for regional areas in an effort to secure an affordable first home and the promise of a better-rounded life.
According to the latest Regional Movers Index (RMI), many of these young buyers leaving cities are choosing large regional centres within commuting distance of their previous home.
So, where exactly are they moving to?
Towns within two to three hours commute to the nearest capital with train connections or good access to a freeway top the list. They include Newcastle and suburbs in NSW, Toowoomba in Queensland, Ballarat and suburbs in Victoria, Busselton in WA, suburbs of The Barossa Valley in SA and Launceston in Tasmania.
We’ve rounded up a selection of homes in these regional areas available to buy for $700,000 or less – all well below their capital city median price.
Modern family haven surrounded by schools – Waratah, NSW
- Price guide: $660,000 – $720,000
- Commute to Sydney: 163 km via the M1 or just under 3 hours by train
37a Tighe Street, Waratah is a short walk to the train station. Picture: realestate.com.au/buy
With Newcastle now one of the most popular regional cities for young people exiting Sydney, this two-bedroom duplex in Waratah offers an exceptional opportunity for new families.
Its freshly schemed interiors span a combined lounge and dining room complete with a study enclave, contemporary kitchen and stylish bathroom.
Outdoor spaces include a sunny deck for alfresco dining and entertaining and a fully fenced backyard for the kids.
Its whisper quiet address is within close proximity to a selection of primary and secondary schools and a short drive to Newcastle CBD and beaches.
Waratah station is also walkable within minutes, which is super handy for when you need to jump on a train to Sydney for work commitments.
Suburban tranquillity meets city living - North Toowoomba, QLD
- Price guide: Offers above $549,000
- Commute to Brisbane: 126 km via Warrego Hwy/A2 or about 2 hours by train from Toowoomba
15 Chamberlain Street, North Toowoomba is a renovated charmer. Picture: realestate.com.au/buy
For Brisbane natives seeking affordability and a more relaxed lifestyle, this freshly renovated character home in North Toowoomba fits the bill nicely.
Perfectly situated for ease of living, it’s within a few minutes’ drive of Toowoomba CBD shopping, top-tier schools, lush parks and popular cafes.
Nestled behind a white picket fence, the home itself is an exemplar of idyllic charm, flaunting crisp interiors, polished timber floors and an open-plan kitchen and living area leading to a north-facing deck.
Two generously sized bedrooms both equipped with built-in robes and ensuite bathrooms completes the package.
Charming terrace in a waterside pocket – Maryville, NSW
- Price guide: $650,000 – $699,000
- Commute to Sydney: 163km via the M1 or about 3 hours by train
210 Hannell Street, Maryville is set in a leafy neighbourhood of Newcastle. Picture: realestate.com.au/buy
Another superb option in Newcastle is this two-bedder Torrens-title terrace.
It’s situated in Maryville, one of the city’s most sought-after suburbs, renowned for its tree-lined streets, beautiful parks and proximity to Throsby Creek.
The home’s rustic interiors exude a timeless charm. Highlights include an open dining area complete with a fireplace and the master bedroom which open to a leafy balcony.
Its peaceful address enjoys access to some of the area's best cafes, restaurants and boutique shops, as well as public transport, bike paths and local walking trails.
Modern elegance meets classic charm - Soldiers Hill, VIC
- Price guide: $560,000 – $590,000
- Commute to Melbourne: 115 km via National Highway M8 or about an hour and a half by train
205 Brougham Street, Soldiers Hill is a short commute to Melbourne. Picture: realestate.com.au/buy
The town of Ballarat is proving a popular choice for Melbourne Millennials seeking an affordable home while still having the ability to access the city for work.
With its charming street frontage and cottage façade, you’d be hard pressed to find a home as beautiful or affordable as this three-bedroom Soldiers Hill stunner anywhere in Melbourne.
It boasts beautifully renovated interiors bathed in natural light, a choice of living zones, open plan chef’s kitchen and three generous bedrooms with built-in robes.
A sun-drenched deck and private garden courtyard provide optimal settings for alfresco entertaining.
Perfectly positioned for ease of living, the prized address has excellent proximity to Ballarat CBD, train station and local cafes, which are all within easy walking distance.
Period charm within magical gardens – Launceston, TAS
- Price guide: Offers over $549,000
- Commute to Hobart: 200 km via National Highway 1 or about three hours by bus
The home at 30 Maitland Street, Launceston has historical charm. Picture: realestate.com.au/buy
Buyers priced out of Hobart will be impressed by the affordability of this classic two-bedroom home in Lanceston.
Built circa 1920, it retains plenty of period charm with superb potential to add modern flourishes.
The formal living room is adorned with gorgeous fireplace and the stunning kitchen is appointed with an impressive stone island bench-top.
For those who prize a beautiful garden, the home boasts a stunning backyard perfect for relaxing away the afternoons.
It’s ideally located within walking distance of Launceston CBD and close to schools, shops and public transport.
Commuting to Hobart takes around 2.5 hours by car, or you can hop on a one-hour flight from Launceston Airport, which is only 12.5 km away.
Beachside home on an impressive block – West Busselton, WA
- Price guide: Offers from $639,000
- Commute to Perth: 221 km via State Route 2 or about three hours by bus and train
54 Seymour Street, Busselton has potential for a facelift. Picture: realestate.com.au/buy
If you’re looking to embrace a seaside lifestyle only two hours drive from Perth, this reconditioned three-bedroom home presents a highly affordable opportunity.
Built in 1965, it offers exciting renovating possibilities for buyers wishing to add their own contemporary touch.
Set upon a sizeable 899sqm parcel of level land, there is also exceptional potential to further extend the single level home.
Geographe Bay’s beautiful stretch of beaches are within a short walk, as are local schools and Busselton's main shopping precinct.
Charming cottage in wine country – Tanunda, SA
- Price guide: Expressions of interest
- Commute to Adelaide: 76km via M2
29 John Street, Tanunda in set among the vines in the Barossa Valley. Picture: realestate.com.au/buy
Adelaide natives wanting to swap the daily grind for a taste of the good life are snapping up affordable homes in the Barossa Valley region, like this historical 2-bedroom cottage in Tanunda.
It boasts an open-plan living and dining area with an ornate fireplace, stylish kitchen, and the master bedroom opens directly onto the backyard.
There is a shaded alfresco area for entertaining, plus a self-contained office with built-in desks which provides a perfect work-from-home setting.
An abundance of amenities are within walking distance, including local shopping, restaurants and wineries are a short drive away.
The home is offered for sale via expressions of interest, though Sara La Nauze of Marx Real Estate told realestate.com.au they are expecting a sale price somewhere in the $600,000s range.
English (US) · 