Property prices may have surged during the COVID pandemic but there are still plenty of suburbs where buyers can secure a home for less than $500,000.

Analysis by Suburbanite shows three of five major Australian cities, Brisbane, Adelaide and Perth, still have properties available below that value.

Within 35 minutes of the Brisbane CBD Petrie in the Moreton Bay region has a median unit price of $405,000.

In Perth, Clarkson, has a median house price of $469,000, while in South Australia, Hackham has a median house price of $446,000 and both suburbs are within 30 minutes of the CBD.

Suburbanite principal Anna Porter says cities such as Adelaide generally had property prices lower than the larger capital cities, even though prices have grown significantly in the last two years, pricing some first-home buyers out of the market.

She says Sydney and Melbourne have few affordable options close to the city with many suburbs recording median house prices above $1million.