There are still dozens of desirable suburbs in Australia where first-time buyers can get on the housing ladder with a 10 per cent deposit of $50,000 or less.
New research by Canstar and Hotspotting has highlighted the most affordable suburbs in Sydney, Melbourne, Brisbane, Adelaide and Hobart.
For those who can raise a $50,000 deposit, family homes in areas close to major cities with good transport links and local amenities are still within reach.
Hotspotting founder Terry Ryder said it was still possible to buy a home at an affordable price, especially as a first-time buyer with government assistance.
Youre better off getting in the market now if you can get in with a 5 or 10 per cent deposit and paying mortgage insurance, he told realestate.com.au.
If you wait and keep saving until you get 20 per cent, in that time, the market can move, so youre just playing catch up all the time.
Here, Daily Mail Australia breaks down where it is still possible to snag a home or unit with a deposit of $50,000 or less and still be relatively close to the city.
For Aussies who can muster up a $50,000 deposit, family homes in areas close to major cities with good transport links and local amenities are still within reach (stock image)
Sydney
As Australias biggest city, buying property in Sydney is often seen as being beyond the reach of anyone who isnt wealthy or who doesnt have the help of their parents.
But good homes in growth suburbs are still available to those who are prepared to travel a bit further from the CBD, to the west and southwest.
And getting in now could lead to wealth creation as the prices in growth suburbs will catch up with the rest over time.
In Sydneys southwest, those who can raise a deposit of $50,000 can get on the property ladder in Liverpool and Wiley Park.
In the citys west, Jamisontown, Regents Park and Harris Park are all still affordable.
The median prices in all five suburbs are under $500,000, which is about 39 to 46 per cent below the overall Greater Sydney median.
And at that price, first-home buyers are eligible to benefit from government support schemes such as a full exception on stamp duty.
Melbourne
In Melton South, 53km northwest of Melbournes CBD, a typical house costs $489,000, which is affordable for many families.
In Parkville, Brunswick West and suburbs close to the CBD there are many apartments on sale for under $500,000.
Units tend to represent a much more affordable entry point into the market and the sad fact is that house prices are running away compared to units, so units offer value, Canstar money expert Effie Zahos told realestate.com.au.
In some suburbs, it is surprising just how high the premium is for (freestanding) houses over units.
In the most extreme cases, the premium can be as high as 70 per cent.
In Sydneys south-west, those who can raise a deposit of $50,000 can get on the property ladder in Liverpool (pictured) and Wiley Park
Brisbane
The Canstar report highlighted 10 Brisbane and 15 regional Queensland markets, with median property prices from $225,500 in Depot Hill in Rockhampton to $768,000 in Petrie in Moreton Bay.
Units in Brisbanes inner-city and houses in Ipswich and Logan have been attracting house-hunters on a strict budget.
Units in the Brisbane suburbs of Bowen Hills, Woodridge and Kippa-Ring, and houses in East Ipswich or Brendale can be bought with a 10 per cent, $50,000 deposit.
Adelaide
In the South Australian capital, Adelaides northern suburbs offer the best options for wannabe homeowner on a tight budget.
According to the report, those with $50,000 in savings could buy a house in Evanston, 40km from the CBD, where the median house price is $480,000.
Even cheaper options are homes in Elizabeth South with a median price tag of $450,000, Smithfield Plains houses ($456,000) and units in Mawson Lakes ($438,000) and Plympton ($418,000).
Hobart
Canstar and Hotspottings research revealed that all of the best value suburbs in Tasmanias capital are within a 17.5km drive from Hobarts CBD.
While Hobarts median house price is more than $700,000, those willing to look nearby can can find a house in Clarendon Vale where the median is $390,000.
Risdon Vales median house price is $460,000, while Glenorchy, Moonah and Warrane units range from $426,500 to $499,500.
Ms Zahos said the areas in the report were not simply cheap suburbs but also offered a good lifestyle for potential buyers.
They are great suburbs with improving infrastructure and a bright future, she said.
Unit prices in Glenorchy in Tasmania (pictured), Moonah and Warrane units range from $426,500 to $499,500
The research comes just days after it was revealed that every Australian state is lagging behind nationally-agreed housing targets, with the federal government being slammed for dragging its heels on addressing the crisis.
The nation is likely to fall well short of an objective of constructing 1.2million extra homes by July 2029, according to Master Builders Australia.
Australia is on track to produce 1.03million homes within that timeframe, a shortfall of 166,000 properties, modelling released on Monday shows.