Thursday, 26 April 2018

What $400,000 buys you in Australia’s capital cities in 2018

The view from a $370,000 Potts Point apartment. Photo: Bresic Whitney RoseberyIsabelle LaneProperty Reporter

It’s no secret that property prices around Australia have skyrocketed over the past decade while wages have stagnated. So is it still possible to buy into the Australian dream and purchase your own home on a budget?

The New Daily took a virtual tour of Australia’s capital cities to find out what $400,000 can buy in today’s property market.

It’s nearly impossible to find a house for under $400,000 in Sydney, where the median house price for the March 2018 quarter was $878,325, according to CoreLogic.

This two-bedroom Lower Macdonald bushland sanctuary sold for $370,000 in January, but it’s quite a commute to Sydney’s CBD. The hamlet village is 78 kilometres from the city, and has a population of just 260 according to 2016 census data.

This two-bedroom property in Lower Macdonald sold for $370,000. Photo: WFR Real EstateA bushland sanctuary 78km from Sydney’s CBD. Photo: WFR Real Estate

Other options include a double brick two-bedroom property in the western Sydney suburb of St Marys, 45 kilometres from the CBD, which sold for $380,000 in February, and a three-bedroom townhouse in Campbelltown, sold for $385,000 in March.A two-bedroom property in St Marys. Photo: LJ Hooker

A $385,000 Campbelltown townhouse. Photo: Prudential Real Estate

When it comes to apartments, an art deco studio residencein Potts Point sold for $370,000 in April, offering city rooftop views in a desirable location close to eateries, the harbour, and and inner-city hot spots.


Best Asia Real Estate Editor's Comments:

As my long-time readers are aware I've been predicting real estate markets around the world with virtually 90% accuracy for decades.
Last year I predicted that Sydney, Melbourne and other major Australian cities, except for Perth were overpriced and topped out. 

Since that prediction Sydney prices have dropped exponentially, and the news is nothing but bad as shown in the article above.

It's not so bad if you're in your 20s and 30s and you can sit this out but if you're in your 60's especially, baby boomers, like me you'll may want to sell and get out completely.

After all you don't need that big three-bedroom house anymore. 

You down size to a small one-bedroom apartment in Sydney for when you visit your children and grandchildren.

Most of the time you could rent it out on AIRBNB to cover expenses and retire in a beautiful villa in Bali for around $ 200,000 Ozzy with your $200 per MTh. Maid and an overall cost of living that is 62% less than Sydney.

I expect thousands of Australians baby boomers to retire and move to Bali in the coming years. 

I will be reviewing why and how you can easily do that at a series of free Sydney seminars coming up in June. See the details below.

  1. Free Educational Seminars: Bali, Sydney, Auckland.

Discover how you can retire in Bali and live in luxury with private maids for a fraction of what it cost in the west.

Attend PT. B.A.L.I.’s free educational seminars,

Bali – May 24th. 6:30 to 7:45 pm

Sydney - June 23rd. 6:30 to 7:45 pm or June 26th. 2:00 Pm to 3:45 pm.

Auckland - July 19th. 6:30 to 7:45 pm or July 21st. 2:00 Pm to 3:45 pm.

Attendance is free. No sales will be made at the seminars. Seating is very limited: For more information or to secure your seat for any of the above seminars simply send an email to 

or Call or WhatsApp 62-8123632177

An Art Deco apartment building in Potts Point. Photo: Bresic Whitney Rosebery

Inside the $370,000 Potts Point apartment. Photo: Bresic Whitney Rosebery

It’s still possible to snag a studio apartment in Centennial Park for under $400,000, or consider a two-bedroom option in Cabramatta, the home of Sydney’s thriving south-east Asian food scene.
The Chantilly apartment building in Centennial Park. Photo: Century21

Inside the Centennial Park apartment, which sold for $388,500 on April 21. Photo: Century21

It is still possible to find a livable house for $400,000 in Melbourne’s outer suburbs, but only just. Melbourne’s median house price for the March quarter was $720,881. This quaint three-bedroom Werribee house, 32 kilometres from the CBD, sold for $395,000 on April 21, while a three-bedroom Melton house set on 589 square metres maxed out the budget at 

$400,000 on April 23.A $395,000 house in Werribee. Photo: Hocking Stuart Werribee

Inside the Werribee house. Photo: Hocking Stuart Werribee

Apartments are a better bet for inner-city Melbourne living at a $400,000 price point. Greville Street, Prahran is one of Melbourne’s most renowned streets for shopping, cafes, and nightlife south of the river, and this stylish one-bedroom apartment with balcony is right in the centre of the action, and sold for $369,000 in January.Outside 120 Greville Street, Prahran. Photo: Biggin & Scott Prahran
Inside the stylish one-bedroom on Greville Street. Photo: Biggin & Scott Prahran

If you’re a young professional looking to be in the heart of the city, this loft-style apartment with spiral staircase and mezzanine bedroom in the Bank Apartments building on Bourke Street sold for $395,000 in February.
The Bank Apartments on Bourke Street. Photo: Dingle Partners
The apartment features a spiral staircase and mezzanine level.Photo: Dingle Partners

This sixth-floor apartment in the historic Grand Hotel building, built circa 1893, with majestic foyer, Docklands views and amenities including pool, and gym, sold for $382,000.The Grand Hotel building circa 1893. Photo: City Residential Real Estate
The foyer of the Grand Hotel apartment building. Photo: City Residential Real Estate

You’ll get slightly more bang for your buck when it comes to houses in Brisbane. You can even net a decent block of land with a three-bedroom house on it, like this family home in Acacia Ridge, set on 549 square metres and sold for $400,000 on April 23.

This three-bedroom home in Acacia Ridge sold for $400,000.Photo: LJ Hooker Sunnybank HillsThe view from the balcony. Photo: LJ Hooker Sunnybank Hills

The median house price in Brisbane was $491,806 in March. This top-floor two-bedroom apartment in happening Fortitude Valley sold for $399,000 in April.
A $399,000 apartment in trendy Fortitude Valley. Photo: Position
Inside the top floor two-bedroom apartment. Photo: Position

This 84-square-metre one-bedroom with study and balcony in the heart of downtown Brisbane went for $400,000 in January.

The view from a $400,000 apartment in Brisbane City. Photo: Place Estate Agents
Inside the Brisbane City apartment. Photo: Place Estate Agents

Perth’s median house price for the March quarter was $464,736. For $400,000, you can still expect to find quality three- and four-bedroom family homes within 45 minutes of the city centre.

Located in Dianella, 9 kilometres from Perth’s CBD, this contemporary three-bedroom home was sold for $400,000 in April.
This Dianelle property sold for $400,000 in April. Photo: Acton Mount LawleyInside the three-bedroom Dianella house. Photo: Acton Mount Lawley

Featuring a renovated kitchen, carport and in-ground pool, this three-bedroom house is close to Perth Airport in High Wycombe. It sold for $385,000 in April.

This three-bedroom house in High Wycombe sold for $385,000 in March. Photo: Professionals Stirling Clark

The property features an in-ground pool and large backyard.Photo: Professionals Stirling Clark

Positioned on the edge of the CBD, this stylish top-floor loft-style apartment has two bedrooms plus a third bedroom or study, spectacular city views and access to a shared pool. It sold for $350,000 in January.
A stylish city-edge apartment for under $400,000. Photo: Limnios Property Group

The apartment sold for $350,000 in January. Photo: Limnios Property Group

Adelaide recorded a median house price of $434,629 in the March quarter.

In the leafy, family-oriented suburb of Golden Grove, this three-bedroom sandstone house is about 35 minutes’ drive from Adelaide’s CBD. It sold for $385,000 in April.A delightful sandstone cottage in Golden Grove. Photo: Ray White Golden Grove

The house showcases a gourmet kitchen with tiled splashback. Photo: Ray White Golden Grove

This two-bedroom apartment in the centre of trendy North Adelaide sold for $400,000 in April.

A $400,000 apartment in North Adelaide. Photo: Harris Real EstateThe apartment is just minutes from the CBD. Photo: Harris Real Estate

Australia’s national capital had a median house price of $591,492 in March quarter.

This two-bedroom house is on a 364 square metre block in Latham, about 20 minutes’ drive from Canberra’s CBD. It sold for $377,500 in February.A cozy two-bedroom house in Latham. Photo: LJ Hooker KippaxThe house sold for $377,500 in February. Photo: LJ Hooker Kippax

Designed by Fender Katsilidis, the architects behind Melbourne’s Eureka Tower, this modern apartment in Acton’s Nishi building sold for $400,000 in March.The Nishi building in Acton. Photo: Luton PropertiesThe view from the apartment’s balcony. Photo: Luton Properties

Despite recent growth in the housing market, Hobart remains Australia’s most affordable capital city, with a median house price of $423,468 in the March quarter.

It’s tough to nab a house for under $400,000. If there is a bit of wriggle room in your budget, you can snag a gem like thistwo-bedroom pad in the beachside suburb of Taroona. It sold for $428,000 in February.A two-bedroom house in beachside Taroona. Photo: Charlotte Peterswald for PropertyInside the Taroona property. Photo: Charlotte Peterswald for Property

There are plenty of great apartment options, like thiscentral Hobart one-bedroom, which sold for $385,000 in March.This city’s edge apartment sold for $385,000. Photo: Knight FrankInside the one-bedroom apartment. Photo: Knight Frank

Darwin’s median house price clocked in at $429,048 in the March quarter.This three-bedroom house sold for $360,000. Photo: Real Estate CentralInside the Anula property. Photo: Real Estate Central

In the northern suburb of Anula, this three-bedroom house sold for $360,000 in January.A $385,000 Darwin city apartment. Photo: Elders Real EstateInside the one-bedroom apartment. Photo: Elders Real Estate

Walking distance to the CBD, this ground-floor one-bedroom apartment with shared pool sold for $385,000 in March.

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