Australia’s Coolest (Yet Still Affordable) Suburbs for First Home Buyers

There's no denying that the property market in 2024 is a rollercoaster ride. In the major capital cities, it's beyond competitive and pricey to get your foot in the door. But if you're looking to buy, don't be deterred from thinking outside the box and exploring new cities and suburbs that weren't previously on your radar.

From Darwin's seaside charm to Geelong's bustling arts scene, these Australian suburbs offer the perfect mix of cool and (slightly more) cost-effective living.

Parap, NT

You often hear the buzzword ‘work-life balance’ being flung around, but no one is really doing it quite like the NT. A move to the Northern Territory offers the chance to break free of the hustle-and-grind culture young people are continuing to rebel against.

With an overarching prioritisation of lifestyle factors, the NT offers a break from the box-checking and choice paralysis a life in the city often presents. This was especially true for Monica Bugno, who moved to the Territory from Brisbane and never looked back. "My experience working in the NT has been laid-back. The Territory is full of opportunities that I truly believe I wouldn't have access to if I lived in other cities," she says. 

So, what suburb ticks the boxes of both cool and affordable? Just three kilometres from Darwin's CBD lies Parap, a buzzing, competitive suburb whose star is on the rise. With median house prices around $595,000 and unit prices at $430,000, Parap offers a mix of modern apartments and traditional homes catering to a range of budgets and needs.

Its beloved Parap Villiage Markets, held every Saturday, showcases local produce, art, and Asian cuisines, drawing both locals and tourists. The suburb also has art galleries, excellent cafes, boutique shops, and various recreational facilities. 

South Geelong, VIC

With buzzing restaurants, a thriving arts scene and a convenient train line into the heart of Melbourne, the ex-industrial city of Geelong has seen a surge in popularity in recent years. That being said, the neighbourhood of South Geelong remains comparatively accessible to first-time buyers and offers some charming Victorian properties of your suburban dreams.

It’s a leisurely stroll into the CBD and a five-minute drive to lovely Eastern Beach. Bi-monthly farmers’ markets, local wine bars, and a booming coffee scene add to its charm. Expect to pay around $902,500 for a good-sized home.

Long Jetty, NSW

The central coast hotspot of Long Jetty has garnered a reputation for its flourishing café scene, vintage thrift shops, and creative culture, which attract entrepreneurs away from Sydney and Newcastle. Its historic jetty (the longest in NSW) juts out more than 350 metres over Tuggerah Lake and has become a photographic icon.

Life on the peninsula revolves around the outdoors, with picturesque cycling trails around the lake, swimming at pretty Toowoon Bay and plenty of parklands to explore. When it’s time to refuel, The Entrance Road has a great mix of eateries, restaurants and bars. Houses here have tipped the million-dollar mark with a median price of $1,270,000, but a good-sized apartment can be nabbed for half that. 

Goodwood, SA

Inner-city Goodwood is known for its eclectic atmosphere with the vibrant village of Goodwood Road at its heart. Catch a flick at the heritage-listed Capri Theatre, eat and drink your way through its popular bars and eateries and immerse yourself in the booming creative landscape – which truly puts on show each August as part of South Australian Living Artists Festival (SALA).

Nestled just south of the CBD, it’s an easy 15-minute commute on tram or a scenic cycle through the Adelaide Park Lands. While houses are likely out of reach for first-time buyers (around the $1,667,000 mark), the median price for units sits at an affordable $504,500, rare for a suburb so close to town.

West Launceston, TAS

With a median property price of $610,000, the riverfront suburb of West Launceston continues to pull house hunters for its affordability and relaxed style of living. In fact, more and more mainlanders are swapping their city pads for Tassie’s gorgeous character cottages and family-sized homes.

Discover Australia’s largest regional museum – Queen Victoria Museum and Art Gallery – and the locally-made crafts at Design Tasmania - as well as having close accessibility to the gorgeous Cataract Gorge. There are breweries and tap rooms, historic buildings now housing acclaimed restaurants and weekly farmers’ markets, while Launceston’s Elizabeth Street is an easy five-minute drive away.

Armadale, WA

A median house price of around $460,000 makes Armadale, roughly 30 minutes southeast of the Perth CBD, one of our top picks for affordability. The regional hub is luring those looking to escape the hustle and bustle and makes our list for the very ‘on trend’ migration to the regions.

Its blissful natural scenery encompasses sprawling parks and undulating hills, revealing bush trails and secret swimming spots. Cycle through wilderness and wildflowers, cool off beneath the Serpentine Falls and at Wungong Dam and discover the local arts community of painters, ceramicists and sculptors. This alluring spot is popular among families and professionals looking for greater space, a slower pace and a strong sense of community.  

Buderim, QLD

The colourful mountaintop village of Buderim is coveted for its laidback lifestyle. Located between the rainforest and the sea, it has a real community vibe, with health-conscious brunch spots and coffee hits centred along Burnett Street.

Flanked by parkland, residents are reinvigorated among the waterfalls of Buderim Forest Park and walking trails through Mooloolah River National Park. Plus, it’s just 15 minutes from the Sunshine Coast’s glistening coastline, including firm favourites Mooloolaba Beach and Alexandra Headland. While prices here have jumped almost 30 per cent over the past year, it offers spacious and unique homes with plenty of room to breathe.  

Doing your research on the best suburbs to live in Australia and looking for more helpful property advice? Head straight to your friend in property, The Sitch. From Home Design advice and Home Tour inspo to property advice, we've got you covered.