While property prices across the country continue to fall, housing affordability is still a major issue in many capital cities.
In March, the combined capital-city median house price was $524,149, according to CoreLogic.
The New Daily took a look around the country to see what prospective buyers could get with a budget of $500,000.
With the city’s median house price at $782,473, it’s almost impossible to find a house in Sydney for under $500,000.
But this three-bedroom townhouse in Blacktown comes in right on budget, with an asking price of exactly $500,000.
The townhouse, which is situated on 176 square metres, is an hour’s drive to the CBD and has a private backyard.
Despite the median house price in Melbourne sitting at $624,425, it’s possible to find a house in the outer suburbs for $500,000.
This three-bedroom brick home in Melbourne’s Mill Park, sits on 535 square metres and just scrapes under the budget, with an asking price of $499,000.
Hobart is still riding the wave of the housing boom, with the median price in the city now up to $464,168.
But it doesn’t mean there aren’t bargains to be had. This two-bedroom retro cottage is situated in New Town – just a 10-minute drive to the CBD and the city’s celebrated Salamanca Market.
Prospective buyers can snap the property, which sits on 350 square metres of land, for $495,000.
House prices in Australia’s capital city continue to rise, but there are signs the market is losing steam, with price growth slowing down in the last quarter of last year (0.7 per cent), according to CoreLogic data.
Situated a 30-minute drive from Parliament House, this three-bedroom home in Dunlop, in Canberra’s outer north-west, comes with an asking price of $479,000 and sits on a 549-square-metre block.
It features a large backyard, entertaining area and six-car garage.
Just 30 minutes drive from Brisbane’s CBD in the north-eastern suburb of Deagon, this three-bedroom high-set house is on the market for $498,950.
Five minutes from Moreton Bay, the two-storey house is priced just above Brisbane’s median house price of $489,832 and sits on 405 square metres of land.
Located on “one of Como Beach’s most desirable riverside streets”, this three-bedroom townhouse has an asking price of $499,000 – well above the city’s median price of $442,716.
The house is in a sought-after area, close to the Swan River and only a 10-minute drive from Perth’s Kings Park and Botanic Garden.
Finding a home in Adelaide for under $500,00 is still feasible, as the median house price in the southern city sits at $426,990.
This three-bedroom duplex is in Flinders Park, almost exactly halfway between the CBD and Henley Beach, and comes with a $498,950 price tag.
You’ll get more bang for your buck when it comes to buying a house in Darwin – the capital city with the lowest median house price at $400,316.
This three-bedroom home sits on a sprawling 959-square-metre block, with jacuzzi, and is just a 15-minute drive to Darwin’s CBD, in the north-eastern suburb of Malak.