The harbour city’s median house price sits at a sizeable $1.59 million,on Domain data,but that will only stretch so far in the nation’s most expensive city.
Buyers in Sydney with such a budget could look to median-priced houses in suburbs like Ermington (which has a $1.58 million median) and Telopea ($1,575,000) in the city’s north-west,as well as Penshurst ($1,557,500) in the south.
Older three-bedroom houses in the suburbs have been selling for north of $1.5 million.
Elsewhere in the state,and across the country,buyers will get better bang for their buck. But just how much more they can get varies greatly.
In Brisbane,where the median house price sits at about $831,000,house hunters could afford median-priced houses in inner suburbs like Bulimba ($1.59 million),Highgate Hill ($1,537,501) and Paddington ($1,525,500).
“The median unfortunately doesn’t buy you an aspirational piece of real estate,” said Tony O’Doherty of Belle Property Bulimba. “But it will get you into this market,in a lot of cases it’s buying a well-positioned property,but it may need some love. You can buy a nice family home at that level though.”
He recently sold a in a popular spot in the suburb for $1.5 million,and on a smaller block in an upcoming area for $1.6 million.
In other parts of the state,buyers have recently picked up,a and a that looks like a rainforest retreat.
In Melbourne,where the median house price sits at about $1,092,000,buyers with a Sydney-size budget could look to four-bedroom houses in Blackburn ($1.55 million) in the city’s east,and two and three-bedroom houses in inner suburbs like Carlton ($1,525,000) and St Kilda ($1,507,500).
Elsewhere in the state,buyers have recently purchasedon the Mornington Peninsula,a on more than 10 acres of countryside,andfor under $1.59 million.
Selling agent David Phillips of Belle Property said that Torquay buyers could typically purchase a quality four-bedroom,two-bathroom home in a good location for between $1.5 million and $1.6 million.
He added that increased interest from sea-changers during the pandemic had seen prices soar. The median is now $1.26 million,after jumping more than 40 per cent year-on-year.
In Tasmania,a four-bedroom house in Grindelwald on a sprawling block with stunning views of Tamar River,recently sold for $1.6 million,just north of Sydney’s median house price.
Buyers will get less space in Hobart but could still pick up a median-priced house in waterfront Sandy Bay ($1.4 million),one of the city’s most expensive suburbs. However,it will likely be a property in need of work,said Abi Freeman of Knight Frank Tasmania.
Two years ago,buyers with a $1.59 million budget in Sandy Bay would have had their choice of three and four-bedroom houses in top locations with water views,Freeman said.
Nowadays,she said it was the entry point for a decent family home in the suburb,which was continuing to see strong demand from interstate purchasers.
In neighbouring Battery Point, with water views recently sold for $1.59 million.
On the west coast,Perth buyers could pick up median-priced houses in the beachside suburb of Trigg ($1.57 million) in the city’s north,where a sold for under budget earlier this year.
Elsewhere,a in the City of Rockingham,a on a leafy block in the Margaret River region,and a all sold for $1.55 million or less.
Not in Sydney but back in NSW,buyers with a budget of $1.59 million would be unable to afford the Byron Bay Shire’s median house price of $1.8 million and would fall just short of the Kiama region’s median of $1.6 million,though older style or smaller homes in both regions would still be in reach.
More premium homes could be secured in other parts of the state. A contemporary sold for $1,535,000,while a ftraded for $1,512,000,and a sold for $1.57 million.