There are plenty of opportunities for sharp-eyed property investors with a lazy $500,000 looking for a home or apartment in most of the capital cities but where are the real bargains? 

In Sydney you have to venture out 58km south west, an hour long commute and each way to find a two bedroom, one bathroom townhome or two bedroom, two bathroom apartment. In Melbourne the commute time is probably negligibly less but less than half the distance from the CBD in Box Hill, Wantirna South or Ringwood offering the best opportunities. Across the continent and Perth is arguably offering the best opportunities, if not for the brave of heart, where suburbs such as Karawara, St James, Marylands, Bayswater and Warwick shine.

In Queensland buyers are spoilt for choice for houses in Rocklea and Acacia Ridge which are about 15 klms south-east of Brisbane while Hobart can see you snap up a bargain 9 klms from the CBD in Berridale for as little as $300,000.  Not to be forgotten is Adelaide and Darwin where $500,000 buys 3 + bedroom houses.

Courtesy Duncan Hughes AFR 8 July 2018