Falling prices in many Australian housing markets have not made it easier to buy real estate near downtown, according to a new Herron Todd White study.
Real estate experts said the recent market fall had failed to break through urban areas previously inaccessible to anyone other than high-end buyers.
Sydney and Melbourne saw the biggest price declines, but also the biggest price gains in the past five years.
"We want people to have a number of current mid-prices. There`s been a lot of talk about market backsliding, but if you look at the medium-term outlook, it`s still good, "said Herron Todd White`s Sydney Housing Director, (Matthew Halse) (Matthew Halse)." some areas are doing better than others, such as townships. These areas are doing well. "
"if you look at the East Coast, there is a large part of the population, and the situation is similar."
1. Sydney
Finding an affordable real estate in expensive Sydney is a challenge, says Mr Halsey.
Even a real estate looking for a median price is not easy., Herron Todd White`s study shows Sydney`s median is nine hundred and fifty five thousand yuan. Buyers will have to make some compromises if they want to find about 1 million of real estate, in Inner City.
"where you buy a house depends on your personal circumstances. If you are a family, it will be West Sydney." "if it`s a young professional couple, you can find a basically reasonable, non-stand-alone two-bedroom unit in the Nexi," Harser said.
2. Melbourne
Melbourne is pretty much the case, with a median Herron Todd White of 833321 yuan at the end of last year,. Domain economics`s Wilt Hill (Trent Wiltshire) said, in many parts of the city, where prices could be found at that level or even lower.
"in some central suburbs, you might find Melbourne`s mid-priced real estate," he said. "maybe it`s the northwest inner city, but it`s not going to be the inner east side."
Harser said the western suburbs are most likely to find a lower-than-mid-price house. "one example is in the western suburbs, in places like Point Cook, where the median price is six hundred thousand, you can buy a four-bedroom, two-bath, stand-alone house, rather than an inner ring, where there are a lot of very small units."
3. Brisbane
The study found that Brisbane`s urban expansion led to a relatively low median house price of five hundred and fifty thousand yuan, compared with other east coast capitals, and that the especially was smaller than Canberra.
The Sunshine Coast and Gold Coast exclude median home prices in Brisbane, adding to the complexity of the Brisbane market, Vilterhill said. "the midrange in Brisbane is strange because it`s so big," he said. "Brisbane`s house has become relatively cheap as prices have risen in the Gold Coast and Sunshine Coast."
Harser said several central suburbs belong to this price range.
"you can buy an old-fashioned three-bedroom one-bathroom home for Chermside and Kedron,." "if you look south at Central, you can find something in Holland Park and Carina," he said. You can find a three-bedroom real estate, that requires some refurbishment, but neat and livable. "
4. Canberra
Like most cities, Canberra`s inner ring is expensive and concentrated around CBD.
Unlike other state capitals, the capital territory of (ACT) is conveniently accessible and has easy access to the suburbs in all directions, Mr. Vilterhill said.
"thanks to Canberra`s location, it doesn`t take a long drive from Central and the suburbs." He said。
Harser said Canberra`s median price was about eight hundred thousand, and buyers could buy a four-bedroom, two-bath home on the edge of ACT, but only a 20-minute drive from downtown.
5. Hobart.
Investor interest and housing affordability have boosted the Hobart market in recent months, pushing the median prices of independent homes and flats almost the same, according to Harser, which is rare in Australian capital cities.
"it is approaching the peak of the market. In February, the median price of independent homes was about six hundred and eighty thousand, and interestingly, the median price of units was six hundred and thirty thousand, which is a small gap."
Halsey says six hundred and eighty thousand of people in the city have many choices. "at South Hobart, you can get a brick room with two bedrooms and a bathroom, neat, but you may need some decoration." "if you want to stay away from CBD, you can go to Lena Valley, and buy a three-bedroom, two-bath federal house," he said.
6. Adelaide
Adelaide was quiet, and so far there has been neither a sharp rise nor a serious contraction. Halsey called it "a very calm city."
"there is a rise there. Home prices rose from September to December, unique among state-run cities. If you look for a mid-priced ( four hundred and eighty thousand) house in the inner ring, it may be difficult, and a greater chance is outside the inner ring, such as Hillcrest.. You can buy a 1960`s fiberboard house in the northeast for four hundred and seventy thousand, covering an area of 800 square meters, which is a lot of land. "
7. Perth.
Perth house prices have not recovered since the mining downturn hit hard.
"House prices are still close to the bottom of the market," he said. "Perth has a median of five hundred and five thousand, and that`s the median price for Munster,Edgewater,Osborne Park and Harrisdale."
"the St James is located 7 kilometers southeast, with a median of just over five hundred and twenty five thousand, and you can buy a three-bedroom, one-bathroom, two-car real estate. With an area of 680m2."
