admin-ajax.php

What does $500,000 buy?

Half a million dollars sure isn’t what it used to be!

What you can get for that amount varies dramatically from city to city.

In his column in Switzer, John McGrath takes a look at what $500,000 will buy you in Sydney, Brisbane and Melbourne.

Here’s what he had to say:

Back in 2004, $500,000 was Sydney’s median house price.John Mcgrath

Today, it’s considered entry level buying at best – and we’re not talking houses, we’re talking mostly apartments.
In our latest annual McGrath Report, we took on the challenge of working out where young buyers with a budget of $500,000 could afford to buy and what type of property this budget would allow them.

We analysed sales and new listings data from this year only for Sydney, Melbourne and Brisbane on realestate.com.au and we also referred to research published in the July 2015 Residential Report of independent property valuation firm, Herron Todd White.

In Sydney, half a million will buy a studio or one bedroom apartment if you know where to look in the inner and middle rings.

In Brisbane, you can buy a three bedroom house in many areas close to the CBD.

In Melbourne, $500,000 is enough for a two bedroom apartment or a smaller house in certain suburbs.

No wonder more Sydneysiders are considering a move to the north or south capitals these days.

Here are some examples of what $500,000 will buy you in each city

500000$

Brisbane 500000$

Melbourne 500000$

ad_GtGR


icon-podcast-large.png

SUBSCRIBE & DON'T MISS A SINGLE EPISODE OF MICHAEL YARDNEY'S PODCAST

Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.

icon-email-large.png

PREFER TO SUBSCRIBE VIA EMAIL?

Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.


Avatar for Property Update

About

Australia's leading independent property commentator, brings together leading authorities on the property market. Each week at Real Estate Talk we take a fresh look at the property market so you get all the facts to help you make the right choice.
Visit www.RealEstateTalk.com.au


'What does $500,000 buy?' have no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.
CAPTCHA Image

*

facebook
twitter
google
0
linkedin
0
email

Michael's Daily Insights

Join Michael Yardney's inner circle of daily subscribers.

NOTE: this daily service is a different subscription to our weekly newsletter so...

REGISTER NOW

Subscribe!