How Bad are House Prices in Australia?.
Everyone talks about the average prices of Property in Australia, with prices near $1 million dollars often being thrown around, but are all properties really that high?
The answer is No. It varies in different areas of Australia.
There are many properties at a quarter of that price, and often on land sizes around 700 sqm (that’s 7,535 sq ft for our American friends). The actual property floor areas might be nearer 200sqm (2,153 sq ft for our American friends).
How far from a City are these cheaper properties?.
From the examples I have shown below, the distance to the Main Post office of the nearest City, Ipswich, is 44km. This would be about a 40 to 50 minute drive, aiming to arrive by 8:45am on a Monday morning.
However, the distance to the Main Post office of Brisbane City, the State Capital city, would be 88km, with a comparable travel time being between 1 h 10 min and 1 h 50 minutes, depending on traffic, to arrive again by 8:45am on a Monday morning.
The distance to the Main Post office of Toowoomba City is 56km with a travel time of 45 to 55 minutes for that same arrival time of 8:45am on a Monday morning.
How Bad are these cheaper properties?.
You can see for yourself with these actual examples of recent sales, at prices between $235,000 and $247,500, for 4 bedroom houses with 2 bathrooms and a double garage. Land sizes range between 600sqm (6,458sq ft)and 800 sqm (8,611sq ft). These are actual sale prices during May and July 2019.
You can find more in that area at: www.realestate.com.au/sold/property-house-with-4-bedrooms-in-laidley
Examples of Distance and Time to arrive by 8:45 am on a Monday Morning, at the following destinations:
- Toowong, Brisbane: 81km. Travel Time: 65 to 75 minutes.
- University of Queensland, St Lucia, Brisbane: 82km. Travel Time: 65 to 90 minutes.
- Eagle Farm, Brisbane: 92km. Travel Time: 70 to 110 minutes.
- Brisbane Airport: 98km. Travel Time: 70 to 90 minutes.
- University of Queensland, Gatton. 15km. Travel Time: 16 to 22 minutes.
- Surfers Paradise, Gold Coast. 140km. Travel Time: 100 to 140 minutes.
That last one is often a reason for the price being so low. It is around 2 hours to the beach!!!