Interstate migration – where would you go? Part two
In our first article on interstate migration, we looked at four of Australia’s capital cities to see how they stack up as options for the family on the move. In a world with fewer boundaries than ever before, it’s important that Australians are able to consider each and every opportunity presented to them. Whether that means a new job, better lifestyle or closeness to relatives, if you’re looking at houses for sale, you should be able to consider any city in this great, wide land.
Our second part of the series will continue looking at the eight state and territory capitals. Having covered real estate in Canberra, Sydney, Darwin and Brisbane, we will now take a closer peek at houses for rent and sale in Adelaide, Hobart, Melbourne and Perth.
South Australia – Adelaide
Adelaide has a reputation for being Australia’s most affordable mainland capital as far as real estate goes. And it seems the numbers are there to back it up. According to SQM Research the median house price in the South Australian capital as at 28 April is $484,700 – only $100 more than the national average and well below the capital city average of $765,000. Meanwhile, the median unit price is $294,400.
Adelaide also boasts the lowest median rent price of just $350, tied equally with Hobart, according to CoreLogic RP Data’s quarterly Rental Review. However, it seems that people are wising up to the good deals on homes for sale in Adelaide, as SQM Research shows that houses in the city have increased in price over the last month, at a rate only bested by Canberra.
Tasmania – Hobart
If you truly are after affordable living, Hobart could be the city for you. Combined with rich natural settings and an enviable island style, this could be the ideal location to bring up a young family or to settle down in your golden years.
Tasmania’s capital is home to the lowest prices across the board for units and houses for sale, according to SQM Research, and shares the lowest median rent in the country with Adelaide.
Victoria – Melbourne
Victoria – and Melbourne in particular – often dominate lists of property markets. Whether it’s judged by the fall of the auction hammer or the allure of the St Kilda beaches, this city often comes up trumps when compared to others.
Just how popular is real estate in Melbourne? The city’s clearance rate for houses sold at auction on 25 and 26 April was 84 per cent according to the Real Estate Institute of Victoria. The market is active and buyers abound, which makes it a great place to be selling rather than buying. However, for those used to Sydney prices, the Victorian capital offers similar lifestyle opportunities at a markedly lower price.
Western Australia – Perth
If you’re looking to live in a capital city that truly is the land of plenty, Perth could be the place for you. Basking all year round in beautiful weather on Australia’s west coast, the city is a haven for those looking to make the most of every lifestyle opportunity available. Whether it’s a home on the Swan River or overlooking the ocean from the western suburbs, there is plenty of prime real estate on offer for Perthites.
For those looking to build their dream home, the city has plenty of land on offer as well. According to the Real Estate Institute of Western Australia, in the week ending 22 April there 1,865 blocks of land listed for sale.
If you’re looking for established real estate in Perth, houses can be on the pricey side. The median asking price is $738,800 according to SQM Research, although units are quite affordable at $452,900. Although, both of the these median prices are below the capital city average.
No matter where you choose to buy real estate in Australia, you’ll be relieved to know that there is a local Ray White agent waiting to roll out the red carpet.