THINK $ 400,000 and it sounds like a whole lot of cash. But start talking real estate and types of coins will not get you much in the way of bricks and mortar in some of our cities.Let's face it, in Sydney that might land you in jail or studio sweet garage pint-sized, but not much in the way of the bedroom and living backyard.
According to realestate.com.au, a price point that is most sought after for househunters in 2015 was $ 0 to $ 400 000, but just how realistic is that when buying in the big smoke near transportation hub and jobs?
In cities such as Sydney, Melbourne and Canberra, where the median price CoreLogic (units and house) is $ 780,000, $ 555,000 and $ 570,000 respectively, it is difficult to find a home under the magic $ 400,000 price point.Nuri Shik, a sales agent with Laing + Simmons Potts Point / Elizabeth Bay, said that "reasonable" sum can still buy a piece of inner Sydney real estate, but only just.
This week, Mr. Shik registered 22sq m studio apartment in Macleay St, Potts Point (only 3.3km from the CBD), with a guide price of $ 379,000, but he did not expect to last long.
"Under $ 400,000 there are some studios but they get snapped up pretty quickly. People buy them as part of their super portfolio," he said.
"And they do not just buy one - they tend to buy some. They know how to create wealth."
While changes in lending guidelines Australian Prudential Regulation Authority early in 2015 has changed the landscape of the investor, Mr Shik said the city-periphery affordable apartment property is still hot with investors and owner-occupiers.
But for buyers on a budget who want more breathing space for their money, real estate prices below $ 400,000 there. However househunters need to search far and wide.
Research by realestate.com.au shows that there is a lot of heat in the suburbs of South Australia and Western Australia where $ 400,000 is not only keeps you away from home, savvy shoppers can even buy property in conducting postal code above.
In Australia, a suburb to the average price of the most affordable for a three-bedroom house with a distinctive and good growth was Mansfield Park, South Australia. Figures with realestate.com.au/invest shows that the environment has an average selling price of only $ 375,000 in 2015 and a compound annual growth of 6.8 percent.
Address:412/28 Macleay St, Potts Point
Price: $379,000
Details: A 22sq m studio apartment just 3.3km from Sydney’s CBD.
MELBOURNE
"People really see the houses here are exactly the same as with a house in (nearby) St. Clair, but they are $ 150,000 to $ 200,000 cheaper," said Adelaide agent Bruce Walker, director of the Walker and Keipert.
"The reason it (Mansfield Park), rising so fast, it was so close to the city," he said.
Outskirts of the up-and-coming is 13km from Adelaide CBD and 6.7km to the beach.
Suburbs next most profitable and affordable including Maddington, WA, where the annual growth rose 4.1 percent to $ 366,500; Salisbury Heights, SA, where prices rose 4 percent to $ 360,000; and Langford, WA, where sales rose 3.4 percent to $ 395,000 for a house with three bedrooms.
Address:59/108 Union St, Brunswick
Price: Between $370,000 and $400,000
Details: A modern two-bedroom unit 7.2km from the CBD.
CANBERRA
10 growth suburbs of Australia
1. Mansfield Park, SA: 6.8 percent (annual growth) - $ 375,000 (median house price)
2. Maddington, WA: 4.1 percent - $ 366.500
3. Salisbury Heights, SA: 4 percent - $ 360,000
4. Langford, WA: 3.4 percent - $ 395.500
5. Midvale, WA: 2.9 percent - $ 377.500
6. Kennewick, WA: 2.8 percent - $ 368,000
7. Middle Swan, WA: 2.8 percent - $ 365,000
8. Gosnells, WA: 2.7 percent - $ 355,000
9. Huntingdale, WA: 2.6 percent - $ 400,000
10. Queenstown, SA: 2.6 percent - $ 395,000
* Data for three-bedroom homes under $ 400,000 in 20km from the CBD.
Just how much house you can realistically buy for less than $ 400,000?
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Oleh
rama olshop blogger
