2008 chap asked:
I am talking about buying a residential property.
Am planning to move to Australia. I would want to stay in an urban/sub-urban setting. Am looking for not so costly independent properties.
I am talking about buying a residential property.
Am planning to move to Australia. I would want to stay in an urban/sub-urban setting. Am looking for not so costly independent properties.
I live in Australia.
Property prices have risen much faster than inflation for quite some time.
The median price of a house in Melbourne is $450k and it is even higher for Sydney.
There is a lot of immigration and the State governments are not releasing enough land.
It depends a lot on the city. Adelaide is best value. Plenty of houses for in the $300-$400K’s. Also consider the larger country towns or Hobart.
Sydney, Melbourne, Brisbane and Perth are all a lot more expensive. You are probably going to have to spend more like $500K in those cities.
Today, 3 bed rooms, small backyard, 10 km from CBD will be about around A$ 1 million in Melbourne, if you live about 20 klm from CBD the price will be about half between $ 45k to 700k depending on the house. For one bed room near beach or central city will be around A$ 350k to A$ 500k.
Note: All the price become double since a year ago, because of inflation. Many working families are struggling in Australia, because of housing and petrol prices.
If you want to know more detail go to
Depending on what city and also area, the cost will vary.
But, and I am not in any way trying to scare you off moving here, be prepared to pay, wherever you go!
Inflation is up and interest rates are through the roof.