Open for inspection: What you can buy for under $1 million in Australia's capital cities

April saw Australian median house prices reach a new record high of $825,349. This was the third consecutive monthly rise, with an increase of 0.3 per cent on the dwelling price.

To help you find a house under $1 million, we’ve rounded up some of the best homes for sale in Australia’s capital cities.

View Living Senior Reporter, January Jones gives her pick of the property listings

Melbourne: A cute cottage in Footscray

Pretty as a picture, this two-bedder in Footscray has charm and character to boot. Just 7.1 km from the CBD, this worker’s cottage is perfect as is or could be extended into the generous backyard. Key features include original period details, modern kitchen and spacious bedrooms.

With a price guide of $885,000 to $925,000, this property is great for buyers looking for a period home in a central location. Melbourne’s west remains a great entry point into the market for first home buyers.

Hobart: A light-filled character home in Sandy Bay

This light-filled character home in Sandy Bay is a great choice for buyers of all demographics. It features three bedrooms, two bathrooms and parking for two cars. Built in the 1930s, the property offers lovely period details with modern amenities. There’s even a sunny courtyard out the back.

Sandy Bay is one of Hobart’s most sought-after areas and this property provides an affordable entry point for buyers. Priced at $885,000, the home is ideally located close to many local hot spots.

Sydney: A renovated family home in Bankstown

North-facing and recently updated, this three-bedroom home in Bankstown offers modern family living. It features a generous open-plan living, dining and kitchen area with modern appliances and marble benchtops.

Bankstown will soon have its own Metro station with trains arriving every four minutes during peak periods, and a travel time to Central Station of under 30 minutes.

A notoriously expensive capital city, this Bankstown home offers buyers the rare opportunity to get into the Sydney market under $1 million.

Brisbane: A charming Queenslander in Oxley

Built in the style of a classic Queenslander, this three-bedroom home in Oxley has been thoroughly modernised. The elevated property is set on a large 627sqm block and features an open floorplan, large alfresco area for outdoor entertaining and secure parking with additional storage.

Only 25 minutes from the Brisbane CBD and priced at $900,000, this Oxley home is a great buy that’s also under the city’s median house price.

Adelaide: A 1920s villa in Largs Bay

Built circa 1920s, this freestanding villa in Largs Bayis filled with character and period elegance. The three-bedroom property is surrounded by established gardens and features a large backyard, undercover carport and storage shed. Updated with sustainability in mind, the home has been fitted with solar power, smart hot water system and three rainwater tanks.

Headed for auction this weekend with a price guide of $940,000, this property provides a generous family home located just 16 kilometres from the Adelaide CBD.

Perth: A family haven in Beechboro

This four-bedroom family home in Beechboro offers a modern sanctuary on a generous 720m2 block. The property features solar panels, off-street parking, storage shed, outdoor entertaining area and gardens.

Priced at $740,000 and only 13kms from the Perth CBD, this property offers a home with space and room to grow. r