Migrate to Australia: property under $400k
19 August 2016 by News DeskMigrate to Australia: more than 30 per cent of all homes nationally are sold for under $400,000.
Migrate to Australia is a lifetime dream of many people, and so is buying and owning their own home.
Realising a dream of owning a property in Australia has become harder with house prices Down Under rising almost 40% in the past ten years. But you do not have to be a millionaire to own a home in Australia.
In the past 12 months 33.1 per cent of all houses and 40.6 per cent of all units sold in Australia were purchased for less than $400,000.
The number of house sales under $400,000 is currently at a record low while the proportion of unit (apartment) sales is near to an historic low.
Across all Australia’s capital cities just under 20 per cent of houses and 31 per cent of units sold over the past year for less than $400,000.
Migrate to Australia: property under $400k
“Property in regional markets is much less expensive than property in capital cities,” says Darrell Todd, founder of thinkingaustralia.
“If you are prepared to be flexible and live outside a major city property bargains can still be found”.
Across all regional markets in the past year, 54.6 per cent of houses and 65.4 per cent of apartments sold for less than $400,000.
“You are twice as likely to find a property under $400k in a regional area as you are in a capital city”, says Darrell.
One city, Hobart, offers the best value in terms of ‘affordable’ housing. The Tasmanian capital is the only city where more houses are sold for under $400,000.
Adelaide and Hobart have more apartment sales below $400,000.
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