Buying a house is a big step. Considering how costly it can be, you want to make sure you get the best bargains. The Australian real estate market has been a bit shaky this year in light of events like the Covid-19 pandemic. Property prices in certain suburbs such as East Ryde and Grays Point have surged while places like Sutherland Shire have reported a fall in prices. If you are looking for good value real estate, consider buying homes from the areas listed below. Before that though, you need to identify the type of house that suits your specific needs.
Types of Houses In Australia
The Australian real estate market offers quite the range of residential properties. These include:
Units
Units, also referred to as flats, are apartments that are separated but built into one huge block. They are ideal for people who don’t need so much space. They are mostly found in metropolitan areas & their suburbs and can range from a 1 room bachelor studio to a 4 or even 5 bedroomed house.
Terraces
These are commonly found in the inner suburbs of large cities. They are highly sought after because they are elegant and sophisticated which can be attributed to their architectural styles that imitate Paris and London homes.
Townhouses
If you are looking for a modern, stylish home consider purchasing a townhouse. They are similar to terraced houses but they feature several floors and they are designed in such a way that a single floor has say, the living room and the next has bedrooms and bathrooms. Most townhouses have courtyards and they can be found in the suburbs of big cities.
Single-family houses
Single-family houses are popular in the outer city suburbs and in rural areas. In the north, most are made of concrete and feature wooden verandas. In the south, most are full brick or brick veneer. They usually have a driveway, a garage, a private entrance and a yard.
Duplexes
They are also referred to as semi-detached houses. Duplexes are designed in such a way that two homes that are next to each other and are in most cases mirror images of each other, share a central wall.
Stand Alones
With stand-alone homes, you buy land and then build whatever type of house you want, be it a bungalow, a beach-side house or a terrace, provided it is in accord with set regulations. They offer a lot of space and freedom.
The Best Places To Buy Property
You can find properties listed on sites such as Movoto.com or hire an agent to find you one. Either way, you are better off buying a property in the following areas:
Perth
Perth is currently the most favourable place to get property right now if you are basing your choice on price. $700,000 can get you an extremely fetching house complete with 2 bathrooms, 4 bedrooms and even a double garage. You can find luxury homes within that price range in suburbs of The Vines. If you’d like to live closer to the city you can find duplexes or villas at good bargains in Como.
Melbourne
Melbourne city view
There has never been a better time to buy a residential property in Melbourne. Travel restrictions and the closing of schools due to the ongoing pandemic, has caused a decrease in demand for houses, the majority of which are usually occupied by international students. The high vacancy rates have caused a drop in property prices. You can get a unit at $480,000 in the CBD, $575,000 in Southbank and $609,000 in Docklands. The south-east region of the city also has some great bargains. You can get a land plus house package at Berwick or Clyde for only $650,000. Large modern houses at Caroline Springs, Plumpton, and Rockbank are currently being sold at an average of $700,000.
Adelaide
The median price of a house in Adelaide is currently $480,000. The most affordable suburbs in this area which has managed to keep its cases of Corona to a minimum include Felixstow, Lockleys, Cumberland Park, and Prospect.
Brisbane
Brisbane has very impressive rental returns so if you are thinking of buying homes to rent out, you should definitely check out listings from the area. With $700,000 you can easily get a 402m2 lot in Gordon Park, Kedron, or Stafford. You can get a 600m2 lot in Wynnum or Carina for the same amount.
Certain Sydney Suburbs
Buying residential property in Sydney is without a doubt expensive. However, if you have to live in the area because of work or personal preferences, go for estates in its outer suburbs. $700,000 can get you a studio or a 1 bedroom apartment in Sydney’s inner suburbs but in places like Parramatta, the same money could get you a 2 bathroom 2 bedroom apartment. A 3-bedroom townhouse in Blacktown.