10 of the cheapest houses in Australia right now

Looking to snag a bargain and buy the cheapest houses on the market?

With property prices in many Australian capital cities skyrocketing to record highs you will be forgiven for looking elsewhere in the hope of snagging a bargain. Affordability remains a serious obstacle, especially for first-time buyers in Sydney, Melbourne and Canberra, where median house prices are north of $1 million.

The good news is that if you look off the beaten track, there are rural towns with stacks of character where you get a lot for your hard-earned cash. We set ourselves a maximum budget of $100k and fired up Domain and realestate.com.au to see what is available at this bargain basement price point. Many will definitely need some work, and they might be a little remote, but compared to state median house prices, they're a bargain! 

Let's take a look at 10 of the cheapest houses in Australia right now.

1. 69-71 HIGH STREET, Tambar Springs NSW 2381: $95,550

Want to get away from it all? Tambar Springs, a town in the North West Slopes region of New South Wales is the place to do it! With a population of just 187, you may well get to know the entire town in a week or two. If you do need to head to the big smoke, Sydney is 417 km away, and Gunnedah is just 67 km down the road. Just slipping under our $100k budget this 3 bedroom, one-bathroom weatherboard house sits on a 2,023m² plot. It looks like a ‘detonate and renovate’ project, but you could build a McMansion and still have space for a 4 car garage. 

2. Lot 477 Flinders Street, Coober Pedy SA 5723: $85,000

Fancy trying your luck in Coober Pedy, Australia’s outback opal capital? If a town 846 km north of Adelaide on the Stuart Highway sounds like your kind of town then there are bargains to be had. And while Coober Pedy is renowned for its below-ground dwellings, known as dugouts, you will be glad to know this listing is above-ground. The agent describes this as a, ‘well-loved basic one-bedroom 'old miners' shanty style above ground home...available for near land value only’.

What do you get for $85,000? This listing has two bedrooms, with the main bedroom featuring a ceiling fan for added comfort. The open-plan living area includes split system air conditioning, a combined kitchen and dining space equipped with an electric stove and oven, and a combined bathroom and laundry with a bath, shower, vanity, toilet, and laundry trough. Outside, a double carport accommodates single-file parking, while a shed with a vehicle pit provides additional storage and workspace options.

3. 93 Blende Street, Broken Hill NSW 2880: $85,000

With a local median house price of $190,000, this property is well under that at $85K, as well as our $100k budget. Make no mistake you will have to spend to make this liveable - but you can’t argue with that price point! It has two bedrooms, a living room with a brick fireplace, spacious kitchen & dining area with bathroom & laundry. The backyard also has access for your vehicles via the rear lane. 

There are some decent local attractions in the town, including the iconic Palace Hotel, Living Desert State Park, Mad Max Museum and Broken Hill Regional Art Gallery. If you are thinking of rental returns, the median rent in Broken Hill is $320 per week, with a very healthy annual rental yield of 9.0 per cent!

4. 24 Lenneberg Street, Marvel Loch WA 6426: $80,000

Fancy living in an old Gold Rush town with fewer than 100 residents? Then put Marvel Loch, 401 kilometres east of Perth on the Perth to Kalgoorlie Great Eastern Highway, on your shortlist. This listing is for a ‘circa 1985 transportable home’ with three bedrooms/one bathroom that sits on a 1,012m² plot - so you can presumably move it elsewhere if you please?! It's so remote there isn’t any data on the rental market, so maybe don’t pick this up if you aren’t thinking of moving there.

5. 26 Hope Street, Bourke NSW 2840: $98,000

Fancy living slap bang on the mighty Darling River? Then head down to Bourke, NSW to view this property. For context, Bourke is approximately 800 kilometres north-west of Sydney, on the south bank of the Darling River.

This 3-bedroom with two bathrooms sits on a 1,348m² plot and is definitely a fixer-upper. You could become a landlord and rent it out for a very healthy annual rental yield of 13.8 per cent. Median sold prices over 2023 were $140,000 for houses, and the town has recorded an annual compound growth rate of 12 per cent for houses.

6. 14 Mcintyre Street, Mount Isa QLD 4825: $59,000

What do you get for $59K? Well, now that you ask - if you are willing to give Mount Isa in sunny Western Queensland a go, a three-bedder with bath on a 673m² plot! Slap back in the middle of the outback, it’s billed as the ‘heartbeat of North West Queensland’. This property needs some TLC for sure, but once done you can expect an annual rental of 4.6 per cent. That’s if you can find anyone to rent it! We say make the move, you may even bump into Bob Katter, the local MP.

7. 8 Downing Street, Norseman WA 6443: $56,000

Yes, you can buy a sub-$60K property if you look hard enough - and this listing in Norseman, WA is proof! The town is in the Goldfields-Esperance region of the state along the Coolgardie-Esperance Highway, some 726 kilometres east of Perth. The median house price is currently $50,000 and has dropped -28.6 per cent over the past year - but hey life is short. It’s a two bedder with a bathroom and two car spots - all on 647m² of land. 

8. 201/51 Beach Road, Batehaven NSW 2536: $99,000

Want a home near Batemans Bay with all year-round holiday vibes for under $100k? We kid you not, this 2-bedroom holiday cabin located in a well-run park has all the facilities you could want right on your doorstep. So close your eyes and imagine unwinding on the undercover deck, listening to the soothing sound of waves. Inside, you'll find a spacious living area perfect for relaxing, a separate dining space for enjoying meals, and a kitchen equipped with a gas cooktop and electric oven. The master bedroom offers a built-in wardrobe, while the second bedroom can easily accommodate a washing machine. The private bathroom features a shower over the bath, and a carport provides sheltered parking. 

Unusual? Definitely! Bargain? We think so! It may just need a little TLC to get it up to scratch.

9. 14 King Street, Queenstown TAS 7467: $90,000

Fancy living the dream in Tassie? Well, for under $100k you can! Queenstown is up on the West Coast region of the island with a median house price of $190,750. This cozy (read small) three-bedroom weatherboard cabin has real potential if you want a passion project. With a closed wood heater, open plan living, and a separate shower, there's potential to create a stylish space. Its prime location, just a 5-minute walk from the town centre, and a generous plot of 237m² make it an attractive investment in a growing regional tourism hotspot. 

Houses here rent for $300 per week with an annual rental yield of 7.0 per cent.

10. 5 Devereux Street, Warracknabeal VIC 3393: $99,000

This weatherboard cottage is a renovator's dream. So if you want to call Warracknabeal home, this listing located in the Victorian wheatbelt could be of interest. The town is on the banks of the Yarriambiack Creek, 330 km northwest of Melbourne by the way. With two bedrooms, a lounge, kitchen, bathroom with shower, toilet, and vanity, it offers a blank canvas for your creative vision. Outside, a pergola, storage shed, rainwater tank, 21-panel solar system, and heat pump hot water system add further appeal. But, be prepared to get your hands dirty with this one! 

realestate.com.au data is positive on the town, with houses in Warracknabeal renting for $320 per week, with an annual rental yield of 7.0 per cent. Houses have recorded an annual compound growth rate of 11.2 per cent, which is respectable.

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