What the median house price buys across the country

There have been plenty of news stories of late detailing the drop in property prices and the weakening of the Aussie market... but this isn't always the case.

Median house prices differ drastically from state to state in Australia, and therefore so does the type of home and area that an average price point can afford. In some areas, this means a home 60km from the CBD, and in others, you can secure a free-standing home within 10km of the city.

Here, we look at the median house prices around the country and the dwellings each price point can afford, according to Herron Todd White.

Sydney, NSW

According to realestate.com.au, the median house price in Sydney at the end of 2018 was $955,000. While you'd be hard-pressed to find anything remotely close to the city, you can get a free-standing home in the suburb of Harrington Park, around 60 kilometres south-west of the city for around $960,000.

Properties there are large and partly-renovated or brand new and offer four or five bedrooms, with some rare gems sitting on large blocks over 700 square metres. 

Melbourne, Vic

According to the Real Estate Institute of Victoria, the current median house price in metropolitan Melbourne is $793,000.

Much like Sydney, finding a free-standing home within five kilometres of the CBD isn't going to happen, but just 13 kilometres north of Melbourne's CBD is the suburb of Glenroy, where the median price is $720,000. Here, you can get a '70s brick veneer home with three or four bedrooms and good local amenties.

Brisbane, Qld

CoreLogic's most recent data release revealed the Brisbane median house price as approximately $550,000. Areas such as Chermside, Nundah, Kedron and Stafford Heights all offer property opportunties around the half-a-million mark, where vendors can buy original-condition, post-war homes or newer, 1980s properties.

The Herron Todd White Month in Review March report cites a 1960s three-bedroom, one-bathroom home in Kedron - just half-an-hour drive from the city - listed for around the median price of $549,000.

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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Adelaide, SA

Despite news of a falling market dominating the headlines, Adelaide has continued to show signs of stable growth. The median at December 2018 was $480,000.

For this price point, you'll be able to secure two-bedroom heritage-style dwellings and newer builds in the suburbs of Mile End and Thebarton. These suburbs are just five kilometres from the CBD. 

Hobart, Tas

The Apple Isle has shown some incredible growth in the market, thanks to a boost in tourism and the opening of the Museum of Old and New Art. Hobart’s median house price (as at 1 February 2019) was $680,500.

In South Hobart a no-frills mostly brick-and-tile home with two bedrooms, bathroom, outside laundry, garage and carport was under contract for $678,000. 

Perth, WA

Recent statistics from the Real Estate Institute of Western Australia show the median house price for the wider Perth area in January 2019 was $505,000.

St James, a suburb situated seven kilometres south-east of the Perth CBD is home to a wide age range of properties, but you can score a '50s-era, three-bedroom, near-fully renovated dwelling for just over Perth's median price.

Catch the final season of Buying and Selling, Mondays at 8.30pm on Lifestyle HOME.

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