5 regional houses you can buy for less than a Sydney deposit

2 Leask Avenue, Mildura, Victoria. Photo: Supplied
2 Leask Avenue, Mildura, Victoria. Photo: Supplied

Regional house prices have climbed dramatically since the onset of the COVID-19 pandemic, but that doesn't mean pockets of affordability no longer exist.

We've scoured the Real Estate View listings to find five properties on the market for less than a 20 per cent deposit on Sydney's median house price, currently $1,293,450, would require you to fork out.

Depending where you look $259,000 can secure you a tiny fixer-upper or a large family home, ready to move in.

$185,000 current bid

This Mildura listing has been used as a rental for many years, according to listing agent Cheryl Reberger of Collie & Tierney First National Real Estate, and is now being offered with vacant possession.

The two-bedroom, one-bathroom property is likely in need of an update and "tender loving care" according to Ms Reberger, but would make an ideal investment or first-home.

Features include an original fireplace and evaporative cooling.

Interest has come from local and out of area buyers, with a mix of investors and owner occupiers.

Ms Reberger said that Mildura was a popular market with those seeking affordable housing, though getting a property under $300,000 was becoming increasingly difficult.

"It's very hard to buy anything for under $300,000 but you still can," she said.

Mildura, population 33,444 is located in the north-west corner of Victoria, on the border with NSW.

$130,000

This three-bedroom timber home in Moree in northern NSW comes in well under our $258,000 budget.

It's currently rented at $210 a week and features a modern kitchen and polished floorboards.

According to the listing, other features include three sheds and a fenced yard.

Moree, located 127 kilometres from the Queensland border, had a population of 7383 at the 2016 census.

$258,000

Located in Fingal on Tasmania's east coast, this three-bedroom property is on the market for the first time, having been long occupied by its owner-builder, according to listing agent Jeff Carins of Roberts Real Estate.

As well as views to Bare Rock & Ben Lomond, features include a big block of 1256 square metres and a games room.

In original condition, the property would benefit from the vision of a new owner, with "big scope for renovating" according to Mr Carins.

A recent price drop to $258,000 has seen a new wave of interest from buyers, many of whom herald from the mainland, he said.

"Strangely enough all those cheaper properties are probably 50/50 mainlanders at the moment," Mr Carins said.

Fingal was a rural area known for its timber and coal industries but was becoming increasingly popular with out of town buyers, he said.

$230,000

This three-bedroom property in Manilla, around a 40 minute drive from Tamworth, has "good bones" according to listing agent Sally Purtle of Purtle Plevey Agencies.

"It's been leased for years and it's either going to suit your first home buyer someone just starting out or an investor," she said.

Features include reverse cycle air conditioning and a galley kitchen with dishwasher.

The 1012 square metre block also meant that there was potential for an extension, subject to council approval.

Manilla provided cheaper opportunities for those priced out of markets like Tamworth, Ms Purtle said, though Interested parties had also included buyers looking for a tree change.

"The interest is from the Central Coast, we've had people come from there and Sydney. [They're] buying over here simply because life changed [in the pandemic] and you can work remotely and I suppose Manilla is a small country town but we've got a lot to offer," she said.

$249,000

This former Victorian Housing Commission home is currently leased and would make an ideal investment or first-home, according to listing agent David Mackinnon of Benalla Residential Rural.

The property would "from a renovation or redecorating inside, and possibly a new kitchen," Mr Mackinnon said.

Benalla, like many regional areas had been experiencing strong growth in residential real estate prices during the pandemic, and buyers were attracted to the area for its seasonal climate and proximity to skiing and wine regions.

"These mid $200,000 properties, go back three or four years they would have been $170,000 or $180,000," he said.

Benalla, population 9,298, is located 212 kilometres north east of Melbourne.

This story 5 regional houses you can buy for less than a Sydney deposit first appeared on Newcastle Herald.