Go bush: The 20 municipalities with the highest number of under $400,000 buying prospects: RP Data

RP Data has ascertained the 20 local government areas across Australian with the highest proportion of homes sold for under $400,000.

Over the past year, almost half of all house and unit sales in Australia were transacted at prices less than $400,000,  RP Data research analyst Cameron Kusher says.

"The good news is that across most regions at least 30% of home sales over the past year have been at prices below $400,000, highlighting there remains opportunities for price sensitive purchasers.

"These opportunities, particularly in capital city and coastal markets, are more prevalent in the unit market or within the outer suburbs where property prices tend to be lower."

Throughout Australia, 48.3% of all homes sold were at prices below $400,000.

Within the combined capital cities, just 37.2% of all sales were at a price below $400,000.

"Clearly, it will be a stretch for buyers on a below average wage to enter into most capital city housing markets," Kusher notes.

"An option for a buyer in this particular group may be to choose to look outside the capitals and focus on more affordable options such as units or purchasing with a partner," Kusher says.

Proportion of homes sold for under $400,000

Region State Proportion of sales <400K

Far West NSW 98.6%

Mallee VIC 96.6%

Wimmera VIC 95.8%

Upper Great Southern WA 94.5%

Northern NSW 94.0%

Central West QLD 93.9%

Murray Lands SA 93.6%

Ovens-Murray VIC 92.9%

Murray NSW 92.7%

South East SA 92.1%

Goulburn VIC 92.0%

Mersey-Lyell TAS 91.9%

Murrumbidgee NSW 91.8%

East Gippsland VIC 91.2%

North Western NSW 90.4%

Central West NSW 89.3%

Northern SA 88.6%

Eyre SA 88.6%

Northern TAS 87.7%

Central Highlands VIC 87.6%