There’s a whopping 1557% price difference for the same house in different Aussie suburbs

How much does a "typical" 4 bedroom home cost?

Well not surprisingly, new research shows a whopping 1557% price difference for the same house in different Aussie suburbs

PropertyPricer has compared the value of a typical four-bedroom house across three states and 12 suburbs - with surprising results.

So what's a typical home?

Property Pricer measured and valued four bedrooms, single-story, brick veneer homes with a double garage, inground family size pool, and air conditioning to some rooms, but with no special views or waterfront.

And the building footprint/size was 380 sqm and the land size is 660 sqm.

In Sydney, the research found the house’s value in the outer western suburb of Penrith reached a price tag of $800,000, compared with the exclusive harbourside suburb of Darling Point where it was valued at $5.5 million, representing a 588% difference.

Looking at regional NSW, Byron Bay - which has seen the biggest growth out of any suburb in Australia in the past 12 months - saw the property valued at $2.8 million.

Compared with Orange in the Central Tablelands, where the property was worth $550,000, the two regional locations represented a 409% difference.

Heading to the Sunshine State in Noosa, which has been on a similar trajectory to Byron Bay, the house was valued at $1.8 million while in the Gold Coast suburb of Southport it was $1.3 million representing 38% difference.

In Logan, Brisbane the house was worth $332,000 while in New Farm - a suburb boasting five-star hotels, boutique shopping, and fine dining options - it was valued at a projected $2.1 million, which was a 533% difference.

Going into Victoria, in Brighton, the Melbourne bayside suburb favoured by football players and TV personalities, the property was valued at $3.4 million compared with Box Hill - known for its multicultural appeal - where it was worth $1.6 million, a 113% difference.

On the Great Ocean Road in Torquay, home of the world-famous Bells Beach, the house was worth $1.1 million, and in Kyneton a regional suburb 70 minutes from Melbourne and based in the Macedon Ranges it had a projected value of $735,000 marking a 49% difference between the two regional areas.

Ross McLelland, CEO and founder of PropertyPricer, said:

“We all know the importance of location, location, location, but these results really drive that message home in a tangible, measured way.

“It’s incredible to think how the exact same home can have such a dramatically different value, simply based on where it’s located.

The results also highlight the importance of understanding your home’s true value, based on a wide variety of factors - location being just one of them.”

About Brett Warren Brett Warren is National Director of Metropole Properties and uses his two decades of property investment experience to advise clients how to grow, protect and pass on their wealth through strategic property advice.