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Diving Into Destinations: A Homebuyer’s View of the Australian Property Market

Diving Into Destinations

Ask overseas visitors to name the best destinations in Australia and you are likely to hear a lot of the same answers – somewhere peaceful with clean beaches and plenty of sun.  For homebuyers, however, the list of priorities which go into making the most suitable place to live, work, shop and perhaps raise a family, can be starkly different.

With the rising perception of Australian property being out of reach of the average home buyer, it is comforting to know that there is still a wealth of property which can boast:

 

  • Affordability
  • Safe, family friendly streets
  • Solid infrastructure
  • Commuting distance to CBD
  • Ample green spaces

 

For homebuyers the trick to moving up the property ladder is and has always been, start further out, buy strategically and work your way in.

 

NSW

Median house price Sydney  to June 2017: $1,178,417

Anyone who has house hunted in and around Sydney will have rolled their eyes at the mere thought of property and affordability being mentioned in the same sentence.  Turn your eyes a little further afield however and it reveals a different story.

Commuting distance from the Sydney CBD there are a wealth of established suburbs which have undergone substantial development, which can furnish the lifestyle of an inner-city ‘burb along with stunning house and land packages, Sydney could only dream of.

Areas to consider: Campbelltown, Leppington, Oran Park, Kellyville and the delightful Shell Harbour.

 

VIC

Median house price Melbourne to June  2017: $865,712

Following closely behind Sydney in the popularity stakes is Melbourne – renowned for its art and fashion culture as well as myriad of sporting events throughout the year.

Traditionally the inner-city Eastern suburb of Toorak has been the big money draw in Melbourne but the elegant Victorian and Edwardian homes of Malvern, Hawthorn and Glen Iris and have seen this interest in the East extend outwards in leaps and bounds.

Areas to consider: Bargain buys can still be found within reach of the city however, with the satellite city of Melton carrying a median house price of a mere $350,000, it is worth a look.

Fancy a bit of seaside with an affordable price tag?  Look out towards Phillip Island with basic 3 bedroom homes in Grantville (a proposed redevelopment is in the works!) and Coronet Bay, still under $300,000.

 

WA

Median house price Perth  to June 2017: $555,788

With the fluctuating fortunes of the mining sector, money talks in Perth’s property market at the moment.  If you are a cashed up buyer looking to get a bargain buy in Perth, the time to strike is now.

Areas to consider: Under 40 km’s from Perth, the suburb of Medina has a median house price under $250,000. Following close behind are Armadale, Hillman, Parmelia and Camillo.

For those looking for something a little more salubrious on the beach, consider East Perth where stunning apartments are considering all offers.

 

TAS

Median house price Hobart  to June 2017: $404,522

Fast becoming known for its culture, food and wine, both Hobart and Launceston present a wonderful entry point to those seeking a laid back lifestyle, an hours flight to Melbourne.

Areas to consider: Burnie (median $234,000) Blackmans Bay, Primrose Sands

 

 

NT

Median house price Darwin to June  2017: $666,686

Whilst house prices have recently rallied and are experiencing some growth, unit prices have seen a decline.

Investors and first home buyers would do well to consider suburbs such as Palmerston which have implemented new developments and infrastructure improvements and  may see strong returns in the future.

Areas to consider: Durack, Anula, Humpty Doo, Nightcliff

 

QLD

Median house price Brisbane  to June 2017: $546,043

A softening in the Brisbane market should see prices rally in 2018.  Regional areas of Queensland are attracting retirees and those seeking affordability, room to move and a seachange.

Areas to consider: Coopers Plains, Holland Park West and Nudgee

 

SA

Median house price Adelaide to June  2017: $524,968

After a brief hiatus, Adelaide’s prices are on the way up again.  The delightful city of churches presents a safe, clean and aesthetically beautiful spot to raise and family or retire to.  With the Southern Expressway in place, the south is experiencing heightened interest since coastal suburbs are now more accessible.

Areas to consider:  Port Noarlunga and Christies Beach.

 

ACT

Median house price Canberra to June 2017: $723,299

Low unit prices and high rental yields mean Canberra is ripe for investors.  According to REA Group Chief Economist Nerida Conisbee, Canberra the past 12 months have seen a strengthening in the Canberra market. Growth is being experienced in the north and south-west and also in  Barton andYarralumla.

Areas to consider: Molonglo and Denman Prospect and  Deakin,Gilmore,FranklinDuffy and the Gungahlin region.

 

Australia is rich in safe neighbourhoods within easy reach to the CBD.  Strong infrastructure and a resilient property market mean an investment in property now can mean a contented retirement in the future.

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