11 reasons why Sydney property is among the world’s priciest

Here are 11 good reasons (and great houses) that show why Sydneysiders aren’t getting world class bang for their buck when buying property.

Nights in Rodanthe: Just opposite the beach in North Carolina, this eight-bedroom, eight-bathroomhouse has a games room, pool, hot tub and can earn $6700 a month in high season. Picture: Zillow

Any Sydneysider who has been house hunting recently would know that our house prices are high — and getting higher.

According to real estate statistics firm, RP Data, Sydney’s median house sale price sat at the $700,000 mark for the 12 consecutive months to May this year. The highest it has been for a year-long stint.

In some corners of the Harbour City, $700,000 might sound like a lot, but for the most part seven grand will not buy much in the way of bricks and mortar.

Go to the far west and $700,000 could snag a nice big family home with a pool, but in the east the tidy sum might only barely pay for a unit by the beach.

But let your mouse to the walking and start a global cyber search and it is clear that almost anywhere in the world that same figure could fetch a much more glamorous home than a typical Sydney suburban weatherboard.

From a mini chateau in rural France, to a Polynesian island, or even a hotel in New York State, $700,000 goes a lot further than us Sydney folk are used to.

All prices are in Australian dollars.

1. Where: Old Forge, New York State, USA

What: A 12-room hotel built in 1891

How much: $701,653

Plenty of room at the Inn: Van Auken's Inn in Old Forge, New York has 12 rooms, staff quarters, an owner’s apartment, bar and mountainviews all for $701,653. Picture: Sotheby’s International Realty.

2. Where: Bodden Town, Cayman Islands

What: A three-bedroom oceanfront villa

How much: $698,522

Ah ... the serenity: This three-bedroom Cayman Islands villa in Bodden Town is right on the ocean and near a world class golf course. It will only set you back $698,522. Picture: Sotheby’s International Realty.

3. Where: Moute Iti, French Polynesia

What: A 4500sq m island in the Bora Bora Lagoon

How much: $763,405

Sacre bleu: A getaway in Bora Bora Lagoon, Moute Iti has a couple of cabins tucked away for absolute privacy. OK, $763,405 is a bit over the $700,000 Sydney median, but it’s an island in French Polynesia! Picture: Private Islands Online

4. Where: Madison Connecticuit, USA

What: A four-bedroom house

How much: $723,084

Get out of town: This four-bedroom Connecticut home with a pool is on a half a hectare within a country club community is less than two hours from New York City 54 Quail Run, Madison Connecticut is on the market for $723,084. Picture: Sotheby’s International Realty.

5. Where: Bang tao, Phuket Thailand

What: A three-bedroom oceanfront villa

How much: $722,444

Time for a Thai getaway: This villa is in an oceanfront gated community in Bang Tao, Phuket and has three bedrooms, its own pool and comes fully furnished for $722,444. Picture: Sotheby’s International Realty.

6. Where: Loule, Algarve, Portugal

What: A three-bedroom villa in a resort

How much: $718,378

Portuguese style: Soak up the sun in the Algarve, Portugal in a three-bedroom villa that costs just $718,378. It has its own pool and is part of a resort beach complex.

7. Where: Santa Fiora, Tuscany, Italy

What: A 10-room house

How much: $693,896

Under the Tuscan sun: This 10-room circa 1900 villa in Santa Fiora Tuscany has 10 rooms and 3000sq m of gardens and will set you back just $687,583. Picture: casa.it

8. Where: Green Hunter St, Las Vegas, USA

What: A six-bedroom house

How much: $699,579

Viva Las Vegas: This six-bedroom Las Vegas home has just had a $32,000 price reduction and is now on the market for $701,849. It features a lagoon pool with a slide and waterfall. Picture: Zillow

9. Where: Rodanthe, North Carolina, USA

What: An eight-bedroom oceanfront house

How much: $699,579

Nights in Rodanthe: Just opposite the beach in North Carolina, this eight-bedroom, eight-bathroomhouse has a games room, pool, hot tub and can earn $6700 a month in high season. Picture: Zillow

10. Where: Marieville Quebec, Canada

What: A four-bedroom house

How much: $669,750

O Canada: On 3.2ha, this six-bedroom Quebec home has a pool and a barn and is for sale for $727,234. Picture: Sotheby’s International Realty.

11. Where: Burgundy, France

What: A five-bedroom manor house dating back to 1893.

How much: $709,142

Ooh la la: This mini chateau in Burgundy, France is on the market for $709,142 and comes five bedrooms, a grand reception room, lavish gardens, a barn and of course, a wine cellar.