In 2024, finding affordable homes in Sydney under $500,000 remains a significant challenge. The city’s property market continues to test buyers with its high prices, even after a tumultuous few years of economic shifts. The Reserve Bank’s multiple rate hikes and the persistent inflation have kept the market competitive.
Despite these challenges, Sydney’s real estate remains attractive, with some areas experiencing growth and stability.
If you’re determined to own a home in this vibrant city, there are still pockets of affordability. We’ve pinpointed five suburbs where you can find houses (not apartments) under $500,000. These areas offer a more budget-friendly entry into the property market while still providing a comfortable lifestyle.
So, where does this leave Sydney people wanting home ownership?
Pretty much exactly where they were months ago—fighting for the great Australian dream that is living in a big, beautiful house.
So to get you started on your property journey, we’re taking you to some of the cheapest suburbs in Sydney where we’ve found 5 houses (not apartments!) under $500,000.
Related articles:
- The 6 Cheapest Suburbs in Sydney
- Who Has the Cheapest Rent in Australia?
- Top 10 Most Expensive Suburbs in Sydney
Where are the cheapest suburbs in Sydney to buy a house?
Here’s a quick look at the five suburbs where you can find houses under $500,000:
| Suburb | Median House Price |
|---|---|
| Marsden Park | $1,150,000 |
| Mount Druitt | $935,000 |
| Liverpool | $950,000 |
| Tregear | $630,500 |
| Bidwill |
But if you’re looking for luxury homes to get inspired, our most expensive houses Sydney edition lists the most spectacular properties on the market.
Marsden Park NSW
- Price guide: $300,000
- Median house price: $1,150,00
- Median price change over the past year: 30.09%
Live the laid-back lifestyle you’ve been dreaming of in this spacious three-bedroom (or two-bedroom and a study) home nestled within the renowned Ingenia Lifestyle Stoney Creek gated community.
This idyllic abode offers comfort and convenience with an enclosed outdoor entertainment area and a garden shed. Enjoy the complex’s top-notch amenities before retreating to your peaceful residence.
Surroundings
Ingenia Lifestyle Stoney Creek is located in Marsden Park, within the thriving northwest growth corridor. This over-55s community is pet-friendly and features an onsite manager, providing peace of mind and a secure living environment.
Residents can take advantage of nearby bustling shops, restaurants, and amenities, with Sydney CBD just a 40-minute drive away.
Amenities
- Spacious three-bedroom home (or two-bedroom and a study)
- Enclosed outdoor entertainment area
- Garden shed
- Access to complex pools, gym, and barbeque facilities
- Immaculate gardens within the community
- Gated, pet-friendly community with onsite manager and Land Lease Site Agreements
Nestled in a sought-after blue-chip location, this exquisite 4-bedroom residence offers a serene living environment with enormous potential for residential development (S.T.C.A.).
The original family home boasts spacious bedrooms, sun-filled living and dining areas with split air-conditioning, and a functional dine-in open-plan kitchen with plenty of storage.
The generous, low-maintenance backyard features a single lock-up garage, making it perfect for family living.
Located just a short 5-minute walk from the Bankstown shopping precinct, train station, buses, local schools, and parks, this property offers unparalleled convenience. Bankstown’s vibrant community and excellent public transport links make it an ideal choice for families and professionals seeking both tranquility and accessibility.
Amenities
- Spacious sun-filled living and dining areas with split air-conditioning
- Functional dine-in open-plan kitchen with ample storage
- Generous low-maintenance backyard
- Single lock-up garage
- Short walk to Bankstown shopping precinct, train station, and local schools
- Potential for residential development (S.T.C.A.)
Check out more properties for sale in Marsden Park.
Mount Druitt NSW
- Price guide: $500,000
- Median house price: $935,000
- Median unit price: $420,000
- Median price change over the past year: 20%
Nestled within a quiet cul-de-sac on a sun-drenched 343sqm parcel, this dual-storey residence combines multiple living areas with three bedrooms and private alfresco entertaining.
The welcoming interiors are designed to embrace a north-to-rear aspect, allowing for a seamless transition between indoor and outdoor living. This property, holding a highly sought-after address, is within a short walk of Rooty Hill Masjid and the Australian Islamic College of Sydney.
Surroundings
Located in Mount Druitt, this home is situated within a family-oriented cul-de-sac. The area boasts close proximity to Elizabeth Jonsson Reserve, Westfield shopping center, cinemas, and an array of dining options, providing both convenience and a vibrant community atmosphere.
Amenities
- Front lounge room with plush carpet floors, highlight windows, and air-conditioning
- Additional living/dining space with an open concept layout and easy outdoor flow
- Pergola-covered alfresco deck for entertaining or hosting gatherings
- Enclosed, child-friendly wraparound backyard and established front garden
- Well-maintained kitchen with gas appliances, a dishwasher, and a breakfast bar
- Three double bedrooms with built-in robes, master with a walk-in wardrobe
- Master ensuite with shower; main bathroom with combined bath and shower
- Single lock-up garage with internal access; internal laundry with backyard access
- Walking distance to Rooty Hill Masjid and the Australian Islamic College of Sydney
Check out more properties for sale in Mount Druitt NSW 2770.
Liverpool NSW
- Price guide: $480,000 – $520,000
- Median house price: $950,000
- Median unit price: $475,000
- Median price change over the past year: 12.28%
This spacious four-bedroom home offers the perfect blend of comfort and modern living. Thoughtfully designed for family life, it features generous living spaces, quality finishes, and convenient amenities.
The master suite includes an ensuite and walk-in wardrobe, while all other bedrooms have walk-in robes. The open-plan living and dining area flows seamlessly to an alfresco space, ideal for entertaining. A dedicated study room adds flexibility for work or study.
Surroundings
Located in the heart of Liverpool, the property is just minutes from schools, shops, and transport. Liverpool Public School, Westfield Shopping Centre, and Liverpool Train Station are all within a short drive.
Amenities
- Four bedrooms with walk-in wardrobes
- Master suite with ensuite and walk-in robe
- Two bathrooms plus a guest powder room
- Open-plan living and dining area
- Modern kitchen with quality appliances
- Covered alfresco area and well-kept lawn
- Upstairs study room
- Ducted air conditioning and alarm system
- Double lock-up garage with internal access
- Approx. 400sqm block
Check out more properties for sale in Liverpool.
Tregear NSW
- Median house price: $630,500
- Median price change over the past year: 7.93%
Set on a 600.7sqm block with an 18m frontage, this well-maintained four-bedroom home offers comfort, style, and investment potential. The functional layout includes modern updates, flowing seamlessly to private outdoor spaces designed for family living and entertaining.
The home features a spacious lounge and dining area, a well-appointed kitchen, and an elevated deck perfect for gatherings. With room for a granny flat (STCA) and an estimated rental return of $550 per week, this property presents an excellent opportunity for homeowners and investors alike.
Surroundings
Located just 750m from Tregear Village Shops and Jim Maynard Park, the home is close to schools, transport, and amenities, ensuring convenience for families and tenants.
Amenities
- Four bedrooms with built-in wardrobes
- Open-plan lounge and dining area
- Modern kitchen with dishwasher and deck views
- Updated bathroom with separate guest toilet
- Elevated pergola-covered deck
- Two-zoned ducted air conditioning and ceiling fans
- Private backyard ideal for entertaining
- 15m carport for three vehicles
- Granny flat potential (STCA)
- Estimated rental yield of $550 per week
Discover more properties for sale in Tregear NSW.
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FAQ Section on Cheapest Houses For Sale in Sydney Under $500,000
What is the cheapest place to buy a house in Sydney?
The most affordable areas for purchasing a home in Sydney typically include outlying suburbs where prices are significantly lower compared to the city center.
Suburbs like Lethbridge Park, Oxley Park, and Whalan offer homes with median prices starting at around $650,000, which is below the median for Sydney overall.
Which state in Australia has the cheapest housing?
Western Australia and Queensland are known for their relative affordability. These states have a number of regions where homes are accessible to those with median incomes. Perth, in particular, boasts the most affordable capital city regions in the country.
What is the average home price in Sydney, Australia?
As of the most recent data, the median home price in Sydney is A$1.16 million. This figure aligns with record highs set in previous years, indicating a consistent upward trend in property values across the city.
Can foreigners buy property in Sydney?
Foreign nationals are generally restricted from purchasing existing residential properties in Australia. Exceptions are made for temporary residents or investors who obtain approval from the Foreign Investment Review Board (FIRB).
