Here’s what Auckland’s median house price can buy in Australia

The median house price in Auckland has fallen to $1.19 million, but some buyers may find they get more for their money on the other side of the Tasman.

Since the Auckland market peaked last November, prices are down about $200,000and the city has fell in the ranks of international price growth to 142, from 25 last year.

the The number of houses for sale has also increased significantly, and now there is a lot greater variety of different types of properties, in a wider range of locations, on the market below average price.

But Auckland’s average price is no small change, and many people keep looking across the ditch for cheaper house prices. So we took that $1.19 million and looked at what it could buy in Australia.

sydney

House prices have been falling in Australia in recent months. The latest figures from CoreLogic show that the median house price in Sydney fell 2.5% year-on-year to A$1.06m (NZ$1.18m) in August.

But Sydney is a city where there has been a high degree of densification, and units, which include apartments and townhouses, make up a large proportion of its housing stock.

CoreLogic Australia research director Tim Lawless says it offers a wider range of options at different price points for buyers.

But it also means that there are different median prices for houses and units. The median house price in Sydney is now A$1.30 million (NZ$1.45 million), while its median unit price is A$799,150 (NZ$894,905).

In central Sydney, units dominate the available property options around the Auckland average of $1.19m.

A two-bedroom, one-bathroom top-floor apartment in the heart of the CBD is a representative example. It’s newly renovated, has a balcony and parking, and is for sale for A$1.05 million (NZ$1.17 million).

There are more options in the outer suburbs of the city. It is possible to buy a three-bedroom, one-bathroom house in Stanhope Gardens for A$890,000 (NZ$997,646) up to A$940,000 (NZ$1.05 million).

It has a 368m² plot with a low maintenance rear patio and pergola, and has parking. It is 31 km from the Sydney CBD, but is close to a train station.

Houses outside Sydney are cheaper, with a median home price in New South Wales at A$727,857 (NZ$815,069).

In Newcastle, the state’s second largest city, the median is A$840,772 (NZ$941,514). An example of what is available is a four-bedroom, two-bathroom house listed for A$1 million (NZ$1.12 million) to A$1.1 million (NZ$1.2 million).

The house has a 706m² section, pool and four-car garage, and is close to the ocean and Lake Macquarie. It is in Belmont, which is 20 km from Newcastle’s central business district.

melbourne

House prices in Melbourne have also fallen recently, with figures from CoreLogic showing the median house price falling 2.1% year-on-year to A$782,053 (NZ$875,269) in August.

Also in common with Sydney, Melbourne has become densified, with many units making up its housing stock. That has left the median house price at A$948,879 (NZ$1.06 million) and the median unit price at A$608,281 (NZ$680,785).

In inner Melbourne, units are the main type of property available for the Auckland median price. But there are some independent houses on the market.

One example is a two-bedroom, one-bathroom cottage in Flemington, which costs A$850,000 (NZ$952,808) up to A$925,000 (NZ$1.03 million). It is 5 km from the CBD, but it is tiny with a section of 122 m² and no parking.

Alternatively, there are larger homes for sale in the outer suburbs, such as a four-bedroom, two-bathroom home in Craigieburn. Priced at AUD930,000 (NZ$1.04 million), it has a large landscaped section and a double garage, but is 25km from the CBD.

Outside of Melbourne, there are cheaper houses available. The median home price in Victoria is A$584,823 (NZ$654,531), while in Geelong, the state’s second largest city, the median price is A$783,802 (NZ$879,886).

Brisbane

New Zealanders move to Queensland, particularly Brisbane, more than any other state, and cheaper house prices are often cited as one of the attractions.

Lawless says Brisbane’s property market had a two-year boom due to high internal migration and relative affordability. It led to price increases of 42.7%, although prices have recently started to fall.

Figures from CoreLogic show that the median house price is currently A$762,284 (NZ$853,144), while the median house price is A$864,149 (NZ$967,151) and the unit price average is AU$501,396 (NZ$561,159).

There is some densification, mainly in the city center and in the most central areas of tourism, he says. “But not as much as in Sydney and Melbourne, and prices are generally more affordable.”

An example of what is available to the Auckland median is a two-story, four-bedroom, two-bathroom house in Carina, which starts at A$999,000 (NZ$1.12 million). It is on an elevated section of 597m², has wraparound decks and a garage, and is 7km from the CBD.

Another is a four-bedroom, two-bathroom home in McDowall, with bids topping A$980,000 (NZ$1.09 million). It has a section of 452 m², has a fully fenced backyard and a double garage, and is about 13 km from the CBD.

It is more expensive to buy on the Gold Coast or the Sunshine Coast, with their respective median house prices at A$883,640 (NZ$988,965) and A$977,457 (NZ$1.09 million). The Gold Coast is also home to Surfers Paradise, which is the densest part of Australia, says Lawless.

But regional Queensland is cheaper, with a statewide median home price of A$564,155 (NZ$631,399).

Perth

Perth is Australia’s most affordable capital, with a median home price currently at A$561,781 (NZ$628,742). It has a median house price of AU$588,308 (NZ$658,431) and a median unit price of AU$413,545 (NZ$462,837).

Lawless says this is incredible as it is the fourth largest, and in 2006 it was the most expensive of the capitals due to the huge mining boom.

“But a prolonged recession after the global financial crisis meant prices were stable for longer and they only started to recover over the last year.”

There are some enclaves of expensive upscale suburbs where prices rival Sydney’s premium areas, but overall it’s a very affordable market, he says.

“Although there has been little densification and the city has followed the Los Angeles model of urban sprawl, many houses are far from the CBD.”

Houses available for around the Auckland median price tend to be large, in decent-sized sections and similar to a four-bedroom, two-bathroom property in Mindarie for sale for A$1.05 million (AUD1.17 million). New Zealand dollars).

It has a section of 743m² and has a double garage, outdoor entertaining area, balcony, office and ocean view. Although it is 36 km from the CBD, it is close to shops, a primary school, parks, the beach and the Mindarie Marina.

Another option is a four-bedroom, three-bathroom house in Yangebup, south Perth, which is being offered from A$899,000 (NZ$1 million).

Settled in a section of 576m², it has a double garage, shed, balcony and view of the city. It is 26 km from the CBD, but close to public transport, shops, a hospital, a primary school and Coogee beach.

House prices in the Western Australia regional area are once again more affordable, with a median home value in the state of A$402,006 (NZ$451,489).