Add CategoryFor beleaguered first-home buyers and property investors locked out of Australia’s pricey housing markets, the United States offers surprisingly greener pastures.
When it comes to Australia’s capital cities, Sydney towers above the others with a median house price of $1,123,991, according to the latest data from the Domain Group. Even the median house price in New York City is significantly cheaper than Sydney’s at US$626,600 (A$829,179).
In fact, the United States’ median house price is only US$193,800 (A$252,133).
For those thinking of applying for a green card, here’s what Sydney’s median house price (US$849,385) will get you in four American cities:
Los Angeles, CA
Most Australians are searching for homes and investment properties in Los Angeles, according to US listings site Zillow. This isn’t surprising because LA reminds Aussies so much of home: awesome beaches, sunny weather, and overpriced coffee.
Los Angeles has a median house price of US$610,400 (A$794,314) and is known for its sprawling bungalows and glitzy condos. Those with deeper pockets should consider buying a mansion and living it up just like the Hollywood celebrities.
New York, NY
Fans of Sex and the City would be pleased to know that a budget matching Sydney’s median house price could get them an apartment on Park Avenue. Even though the average Park Avenue apartment is much smaller than the typical Aussie home, it’s only a few blocks from Central Park and some of the best shopping and cultural attractions in the country.
Unsurprisingly, Aussies love the Big Apple almost as much as they love Los Angeles. And with a median house price that’s only US$26,000 (A$33,834) more than Melbourne’s, entry into the property market is a lot more feasible.
Chicago, IL
In the Windy City, the median house price is US$214,100 (A$283,318), which is a quarter of Sydney’s.
With a budget matching Sydney’s median house price, you could buy four average-sized houses in Chicago or two larger ones.
Atlanta, GA
Meanwhile, a budget matching Sydney’s median house price could get you something truly grand and spacious in America’s South.
What you’d pay for a two-bedroom flat in the Harbour City could get you a luxury property in Atlanta. The median house price is only US$201,600 (A$266,777).
With a budget of US$845,000 (A$1,099,598), you could snag yourself an extensive four-bedroom property with three wings and a large sandstone patio.
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