Where to buy – NAB reveals top 10 postcodes for homes under $650k

25 September 2025
Housing

• Melbourne’s western suburbs dominate with three of the top five hotspots 

• Toowoomba and Ballarat continue to be popular regionally

• Postcode hotspots ticking the box for lifestyle and value

NAB data released today reveals the top 10 postcodes where buyers can still purchase a home for under $650,000 – with Melbourne’s western suburbs and regional towns leading the charge.  

Suburbs like Tarneit, Craigieburn and Melton South continue to attract buyers with their affordability and access to amenities, while regional centres such as Toowoomba and Ballarat are proving popular for first home buyers seeking value and lifestyle.

Top 10 postcodes for homes under $650k:

• 3029 – Hoppers Crossing, Tarneit, Truganina (Melbourne’s west)

• 3064 – Craigieburn, Mickleham (Melbourne’s north) 

• 4350 – Toowoomba and surrounds (Regional Queensland)

• 3024 – Wyndham Vale, Manor Lakes (Melbourne’s west)

• 3338 – Melton South, Weir Views (Melbourne’s west)

• 3030 – Werribee, Point Cook (Melbourne’s west) 

• 4740 – Mackay (North Queensland)

• 3350 – Ballarat (Regional Victoria)

• 6210 – Mandurah, Meadow Springs (West Australia)

• 4680 – Gladstone, Tannum Sands (Queensland) 

For 35-year-old Michal, buying his first home in Tarneit was a dream come true. 

“I was renting in Tarneit for seven years before I decided to buy,” he said, “I work in Truganina, and all my friends and family live in the area so it didn’t make sense to leave.”

Michal found a two-bedroom standalone home for $475,000 - just ten minutes from work and a short train ride to the city.

“I couldn’t believe how quickly it happened. I put in an offer and got the call three hours later that it was mine. Now I’m settled in and loving it - it’s only 28 minutes by train to Flinders Street Station, which is insane.” NAB Home Lending Executive Felix Sekulla said there are still plenty of opportunities for buyers, especially as the Spring property season heats up.     

“We’re seeing strong demand in outer suburbs and regional towns where homes are still priced below the median,” Mr Sekulla said. 

“Melbourne’s west offers great access to transport, schools and shopping, while towns like Toowoomba are thriving thanks to its population growth and strong local infrastructure.”

With NAB forecasting a 3.3% rise in house prices over the next year, Mr Sekulla says now is a smart time to consider entering the market.

“These postcodes show there’s still a path to home ownership – particularly for first home buyers looking to get a foot in the door,” he said. 

“With the expansion of the Federal Government’s Home Guarantee Scheme rolling out next month, it’s a great time to chat to your banker about what options are available to you.”