Updated: Bargain hunters might be interested in this Dick Smith deal
Back 2 school deal. The next best price is $319 from Wireless1 from Parramatta. The specifications are very humble:
Intel® Celeron® N2840
64bit Windows 8.1
11.6" Widescreen HD LED
500GB (5400rpm) SATA
2GB DDR3L (1600Mhz) - Memory not expandable
2 USB Ports (1x USB 3.0 & 1x USB 2.0)
HDMI, 100MB LAN,
Li-ion 3-Cell, Up to 5 hours*
1.2KG weight with battery
Students may be more interested in the HP Stream 11 notebook, which only has 32GB of eMMC memory, but it a few killer features up it's sleeve, an 8 hour battery life, a year subscription of Office 365 and a fanless design.
Touchpad is mediocre though.
There are laptops with N2830 CPUs (performance is pretty much the same) with expandable RAM for less, larger screens too.