That's considered cheap even for a meth-infested house that needs to be torn down in that area
Newtown used to be a popular suburb for lesbians, but it has gentrified and is now too expensive for young people. There's still some very old dykes who bought property there back when it was a cheap hipster hole, so amongst all the spoiled, straight families who managed to buy in thanks to boomer parents, you may find yourself a sugar mama.
Not all real estate in Australia is expensive. Smaller cities like Adelaide, which is gay-friendly but a lot quieter than Sydney, are more affordable.