While Australia’s house prices continued to rise, Ray White Chief Economist Nerida Conisbee considered whether you could find better value in one of your favourite holiday destinations.
“It’s hard to compare pricing at a global level, particularly given within a capital city or country, there can be significant variance in properties available,” she said.
This is roughly similar to the median for our most global city, Sydney where the median for an apartment is $960,000 and could get you something like this 33-37 Mentmore Ave, Roseberry unit.
If you want a much cheaper option, you could look at Melbourne CBD where the median for an apartment is $460,000. This amount could set you up a trendy South Melbourne apartment like this 907/38 Bank Street(pictured above) unit.
If a one bedroom apartment doesn’t appeal, then living in the most liveable city in the United States may do so. Austin, Texas is ranked as one of the best places to live and the neighbourhood of Highland one of its best suburbs. For $AU1 million, you are looking at a pretty nice house on a big block like this one on Northcrest Boulevard.
In the United Kingdom, one of Edinburgh’s best suburbs, West End, you can also buy a three bedroom house.
In Australia, you are unlikely to get into many of our most expensive suburbs which currently sit at around $3 million but you could definitely get into a nice suburb in our most liveable city of Adelaide – and it would be beachside.
Henley Beach has just hit a $1 million median. This 596 Grange Road(pictured above) family home has just been listed for auction in the suburb and is within walking distance of the beach.
In Melbourne, the up and coming inner west could also appeal with Footscray hitting that price point now.
A beachside getaway
Rural Europe is pretty nice, but there are also some pretty nice places in rural Australia. The main difference is that in Europe, you get a medieval tower.In Australia, you would get something potentially as large but certainly not as historical. Ms Conisbee said she doesn’t know much about the predominantly rural Auvergne region of France but for $AU1 million, you can something quite different like this historic stone manor with its own tower.
For $1 million in Australia, you could get into inland parts of northern New South Wales. Mullumbimby currently has a median of $988,000 and not too far away 599 Left Bank Rd, Mullumbimby Creek(pictured at top) is currently for sale.Close to Melbourne, Macedon has just recently clicked over to the $1 million median mark.
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