Great Aussie property divide: What city median house price buys you across the country
Australia’s new combined capital city median dwelling value has been revealed. We compare how each city stacks up, and where there are bargains to be found, if you know where to look.
Many experts predicted Australia’s property market would bust under the pressure of the pandemic, but residential real estate actually finished 2020 on the verge of a boom.
As the year came to a close, the combined capital city median dwelling (that includes units and houses) value was sitting at $651,983, up 2 per cent over the 12-month period.
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While that sizeable sum could barely buy a one-bedroom unit in some Sydney suburbs, the figure could secure a sizeable family home in other major cities.
To put that buying power into perspective, here is a snapshot of what that big city median price gets you across the country’s capitals.
SYDNEY
What you get for the local median price of $872,000
Redfern
What: one-bedroom unit
Price: about $850,000
This kind of money would get you into a more spacious property in a middle or outer ring suburb, but those buyers seeking a central location and designer digs will have to consider a one-bedder like this 58sq m unit in a sleek Redfern warehouse conversion.
Those who work from home will still have room to create a home office in the 13sq loft space.
What you get for the national median
St Clair
What: three-bedroom house
Price: $650,000 to $680,000
It might be 45kms from the CBD and harbour, but this recently renovated Sydney home has got just what Aussies want in a post-pandemic world - space.
At the end of a quiet cul-de-sac, the home has three bedrooms, sits on a roomy 395sq m block with a level lawn for the kids, and is just around the corner from a public primary school.
MELBOURNE
What you get for the local median price $682,000
Essendon
What: two-bedroom unit
Price: $680,000 to $730,000
A modern apartment with all the contemporary bells and whistles as well as a spacious courtyard, this Melbourne home is 17kms north of the CBD. Although the city is a tram ride away, for those returning to the office, this unit is in walking distance to local cafes, schools and even the local bowling club.
What you get for the national median
Footscray
What: two-bedroom house
Price: $650,000 to $710,000
Just 8kms from Melbourne’s centre, this freestanding house is closer to the CBD than the Essendon apartment, and is asking a similar price, however much of it is in original condition. The 139sq m block also includes a grassed back yard and it is conveniently located close to Western General Hospital for essential workers.
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BRISBANE
What you get for the local median price $521,000
Brisbane City
What: two-bedroom unit
Price: More than $525,000
High up on the 32nd floor, this modern apartment is far cheaper than the combined capital median. It has sweeping views over the Brisbane River, Story Bridge and the cityscape. Covering 83sq m, including a 17sq m balcony, the sky high unit sits above Brisbane’s newly revamped entertainment quarter including bars, cafes and picnic areas.
What you get for the national median
Alderley
What: four-bedroom townhouse
Price: More than $649,000
Sitting 8.5kms from Brisbane’s CBD, this architecturally designed townhouse covers three living levels and includes a chic kitchen, two bathrooms plus multiple living areas inside and out. The home is also a short walk to Newmarket Village shops and popular schools.
ADELAIDE
What you get for the local median price $468,000
Plympton Park
What: three-bedroom house
Price: $469,000 to $515,000
Ready for renovation, this classic brick home is on a large 822sq m block is approximately 7kms from the centre of Adelaide, but residents can easily walk to local shops and schools. The family-friendly house has three bedrooms, plus a sunroom or home office, a garden shed and a spacious yard.
What you get for the national median
Bellevue Heights
What: four-bedroom house
Price: $645,000 to $695,000
With four bedrooms and two bathrooms inside and a grand swimming pool out the back, this suburban Adelaide home has room for all the family. Although it is 14kms north of the city centre, it is surrounded by good schools and Flinders University is nearby.
HOBART
What you get for the local median price $513,000
New Town
What: three-bedroom house
Price: Low to mid $500,000s
A 1920s home in the popular Hobart suburb of New Town, this classic property and is ripe for renovation.
As is, the house features two living areas, three bedrooms, a bathroom and rear courtyard. Sitting just 4kms from the city centre, the home is a short stroll to local shops.
What you get for the national median
Lenah Valley
What: four-bedroom house
Price: More than $650,000
Behind its charming mid century facade, this Hobart home has four bedrooms, two bathrooms and a large backyard, all on 632sq m. Owners can also create an additional income stream by renting out the self-contained apartment downstairs.
Originally published as Great Aussie property divide: What city median house price buys you across the country
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