Australian property median house price: What you can buy for Sydney’s median price in all major cities
The Great Australian dream of a quarter acre block and a Hills hoist out the back has long felt like an unattainable fantasy for many Aussie house hunters.
At the market’s peak the median house price in Sydney was fast approaching $1 million, according to CoreLogic data, hitting $989,000 in early 2017.
At the time, when property industry number crunchers isolated freestanding houses, the Sydney median sat well above that magic million-dollar amount.
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Despite a softening of the Sydney property market, which has seen the median house price drop to $945,000 (down 4.5 per cent in the 12 months to February) that reduced figure is still hugely out of proportion with the rest of our capital cities where owning a house is far more attainable.
In Adelaide, Australia’s cheapest capital to buy a house, the 12-month median (in the year to February) was less than half that of Sydney at $452,500, while Hobart was not that much more expensive at $455,000.
A quick scan across the market shows houses priced at Sydney’s median of $945,000 will dish up some very basic homes in the Harbour City, many far from the CBD.
However, the same kind of cash obviously goes a lot further, and closer to town, in just about every other capital city.
Sydney — median $945,000
Distance from the CBD: 16kms
For anyone who wants a block of land and a freestanding house in Sydney, this is what you get.
Solid and comfortable, this unrenovated house has three bedrooms and one older style bathroom.
Although it is an hour’s drive, or 45 minutes on the train from the CBD in peak hour, there are shops and other amenities nearby.
Hobart — Median $455,000
This modern day mansion is on a sizeable 703sq m block and has six bedrooms, three bathrooms and large open plan living areas.
In the designer kitchen there is a butler’s pantry and the two grand outdoor spaces have panoramic views over the River Derwent.
Hobart’s centre is only a 20-minute drive in peak hour traffic.
Adelaide — Median $452,500
Norwood: $950,000 to $995,000
In popular Norwood, which is known for its beautiful heritage homes, this meticulously renovated property has period features with modern mod cons.
There are three-bedrooms, a family bathroom and ensuite plus a modernised open plan living area out the back.
Plus, it takes less than 10 minutes to get into town.
Melbourne — Median $720,000
Seddon: $900,000 to $970,000
Distance: 7.7kms to Flinders St Station
For similar coin as a run of the mill Sydney home, you could snag a pretty heritage address in Melbourne.
This property has two street frontages, three bedrooms, one bathroom, solar panels, polished floors and central heating and cooling.
And this one is just a 12-minute train ride to the city.
Perth — Median $490,000
Mount Lawley: $949,000
Distance: 4.3kms to Perth Train Station
Far from average, this Perth home has loads of Art Deco character and was once owned by prominent WA judge Dr Bertius De Villiers.
The 1930s home has headlight windows, decorative ceilings, an ornate fireplace and a brand new designer kitchen.
There are two renovated bathrooms, a chic laundry and alfresco dining space.
Darwin — Median $490,000
Nightcliff: More than $920,000
With five bedrooms, this Darwin home has loads of space and sits right in the heart of the popular suburb of Nightcliff, the jetty and foreshore.
There is a pool, lush tropical gardens, vast outdoor entertaining areas, a modern kitchen with stone bench tops and two contemporary bathrooms.
Brisbane — Median $535,000
New Farm: More than $949,000
A contemporary three-bedroom house in sought-after New Farm, this property has a gourmet kitchen, open plan living areas with polished floorboards, one family bathroom and two ensuites. It’s packed with mod cons and is a 20-minute bus ride in peak hour to the CBD.
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