Canberra house prices are at an all-time high and for first home buyers in particular, getting your foot in the door of the burgeoning property market can seem unattainable.
While living in regional Australia isn't everyone's cup of tea, it's worth taking a look at how far your money can go outside of the capital cities.
On the back of ACM's recent round-up of regional homes available for less than a Sydney deposit, we're taking a look at what you can buy for the same price as a 20 per cent deposit for a Canberra house, currently sitting at a median value of $933,960 according to CoreLogic.
In some regional areas, $186,792 will buy you a three-bedroom home on a two-acre block, in others, a historic school house ready for a revamp.
58 Porter Street, Gayndah, Qld
Touted as Queensland's oldest town, Gayndah is a small regional community with a big community heart, and right now there are a number of properties on the market for less than a Canberra deposit.
A lifelong resident, Jo Dowling, principal of Gayndah Real Estate, can vouch for the town and what it offers home buyers.
"Gayndah's a town that has very strong community spirit," she said.
"We're getting a lot of people wanting to move [here] away from the build-up of the southeast [Queensland] corner, also some of it's COVID related in that they want to have that little bit more space and fresh air around them."
One of Ms Dowling's current listings is this three-bedroom home, sitting on a half-acre block with a large garden shed out the back.
Listed for $170,00, this particular home would appeal to interstate investors, given it's currently tenanted and requires minimal ongoing maintenance.
"It's a stepping stone into the property market," she said.
1365 Biggins Road, Meribah, SA
Located on a two-acre block in Meribah, this circa-1934 cottage boasts three bedrooms and includes an original school house built in approximately 1926.
The school house features high ceilings and has been extended to include a bathroom and space for a kitchen.
Listed for $159,000, this historic property is certainly not for the faint-hearted as it's in dire need of a renovation.
But what it lacks in looks, it makes up for with good bones and and loads of potential.
17-19 Cave Street, Ganmain, NSW
This two-bedroom house in regional NSW is another two-acre block that comes in under the budget at $149,000.
Errol Sutherland of Ray White Wagga Wagga said while parts of the home will need to be refurbished, the house has "heaps of character".
"Although it's about 100 to 110 years old, it's structurally in pretty good nick," he said.
"I've had a builder look through it who tells me that it's all Cypress Pine framework in the ceiling which is great because there's no termite damage to the building."
Mr Sutherland has sold about 50 properties in Ganmain over the past two years.
"We've had single people buying there, young couples, retirees, investors, and as far as where they're coming from, we've had buyers coming from out of Sydney, Canberra, even the coast," he said.
15 Shield Street, Zeehan, TAS
This solid three-bedroom home on the west coast of Tasmania just scrapes in under budget, listed for $185,000.
It features an open-plan kitchen and dining area, while the main living area has floor-to-ceiling windows that allow for loads of natural light.
The 790-square-metre, level block also includes a single carport and two lock up garages, which Nardi Stevens of Elders Burnie said is a big plus for buyers in the area.
"The sheds will always appeal to people because people do a lot of outdoor activities down there," she said.
The property has just gone under contract, which Ms Stevens said isn't surprising given the region is experiencing a pricing boom.
"The market's really good, really busy down here at the moment," she said.
79 Ferrier Street, Lockhart, NSW
Close to the Lockhart town centre, this three-bedroom home sits on a large 980-square-metre block with rear lane access.
Listed for $165,000, the property is positioned as "an opportunity to get a foot in the door of an ever increasing housing market".
With high ceilings, a large 'eat-in' kitchen, separate lounge and enclosed rear sunroom, this property has a lot of potential for buyers willing to give it some TLC.
14-16 Duck Creek Road, Old Bonalbo NSW
A Canberra deposit won't just buy you a home in regional Australia.
Unique spaces like this church in Old Bonalbo, NSW, are also on the market.
Located an hour's drive from Casino, this half-acre block is on the market for between $160,000 and $175,000.
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