As if home ownership for Australian’s wasn’t dire enough, the reality of what a median priced house in each Aussie capital city looks nothing like what AI envisioned.

AI paints a picture, where average properties are impeccable historical mansions, character home or waterfront beauties … way to rub it in AI!

In reality, recent reports found a median-income Aussie household earning around $112,000 could afford just 14 per cent of homes sold throughout the 2023-24 financial year.

Money.com.au has used generative AI program Midjourney to generate images of a ‘typical home’ in Australian capital cities, based on their median house price according to PropTrack data.

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$1.1m in Sydney? In your dreams. Source: Midjourney

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In Glebe or Darlinghurst, this would cost closer to $5m.

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In Sydney, where the median house price according to PropTrack has now hit a staggering $1.1m in September, AI’s distortion of reality is striking, imagining a world where $1.1 million could buy a harbourside estate or a Victorian terrace house in a premium, leafy suburb like Glebe or Darlinghurst.

In reality, that harbourside mansion would likely cost upwards of $50 million, while a double-fronted Victorian home would be closer to $3-5 million.

With a $1.1 million budget, you’d more realistically be looking at a one-bedroom apartment in the Sydney CBD, like this one listed for $1.08m.

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The reality what $1.1m gets you in Sydney: a one-bedroom apartment.

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In Melbourne, where the median price in August was $797,000, AI envisions either a waterfront property along the Yarra River or a renovated Edwardian home that looks like it would belong in a prestigious middle-ring suburb like Malvern or Camberwell.

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In reality, a riverside property would cost you closer to $10m, and a newly renovated Edwardian home would be somewhere between $2m-$3m, depending on the area.

For Melbourne’s median house price, you’re more likely to find something more modest, like

this three-bedroom solid brick home in Strathmore, 11 kilometres from the CBD, listed for

$790,000 to $840,000.

A home right on the Yarra. Source: Midjourney.

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A renovated Edwardian home would more likely cost you $2m- $4m in Melbourne. Source: Midjourney

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Listed in Strathmore for $790,000-$840,000.

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Nothing says Brisbane quite like a grand Queenslander home or a Victorian terrace house. However, these aren’t exactly the ‘average’ Brisbane home.

You might find similar properties in more gentrified areas close to the CBD like Spring Hill, New Farm or Ascot. Properties like these would typically cost multiples of the median house price of $854,000, with sprawling Queenslanders or Victorian-style homes typically fetching $2-4 million in Brisbane, depending on the location.

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AI’s version of the typical home in Brisbane. Source: Midjourney

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This would cost a whole lot more than $854,000. Source: Midjourney.

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More of your typical Brisbane home – Oxley for $870,000.

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In reality, for the median house price in Brisbane, you’re more likely to find something like

this three-bedroom home in Oxley, 16 kilometres from the CBD, listed for $870,000.

“From waterfront mansions to charming cottages and historical homes, AI has a wild imagination when it comes to what it thinks you could buy in each capital city for the median price,” said Sean Callery, Money.com.au’s Finance Expert.

While the median house price in Adelaide is lower than it is in the larger capitals, AI’s

representation of properties priced around $768,000 is equally wide of the mark.

AI’s version of Adelaide homes worth $760,000. Source: Midjourney

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AI envisions typical homes in South Australia’s capital as Federation-style houses and Victorian villas, perhaps imitating select premium properties you may find in suburbs like Tusmore, and Fitzroy.

In reality, homes with this kind of character would likely cost $1-3 million in Adelaide, depending on the location.

For the median house price, you’re more likely to find a modern four-bedroom brick home,

like this one in Hillbank, 32 kilometres north of the Adelaide CBD, listed for $749,000 to

$819,000.

An Adelaide home listed for sale between $749,000-$819,000.

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Perth’s property market may be hot right now, but AI’s interpretation of what typical homes in Western Australia’s capital look like for the median price of $751,000 is, to say the least, offbeat.

The AI series include a sprawling Victorian-style mansion and 20th-century Edwardian home. Only Perth’s most expensive suburbs like Peppermint Grove or Dalkeith boast properties anywhere close to resembling what the AI came up with.

In reality, these types of properties would likely cost multiple millions anywhere in Perth.

For the median house price, you’re more likely to find something more modest, like this red brick, three-bedroom home in Victoria Park, 5 kilometres from the Perth CBD, listed for$749,000.

Glam AI Perth homes. Source: Midjourney.

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Listed for sale in Perth for $749,000.

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Hobart’s historical charm is on full display in AI’s depiction of typical homes in Tasmania’s capital.

For the median price of $683,000, AI imagines you could snap up a classic Edwardian mansion with brickwork and decorative wood trims, or a charming weatherboard cottage with ornate details that look like they could belong somewhere in Sandy Bay or Dynnyrne.

AI Hobart homes with mountain views only $683,000! Source: Midjourney.

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In reality, an Edwardian mansion would likely cost around the $1-3 million mark in Hobart, while a weatherboard cottage could set you back $800,000 or more in some areas. But for the median price in Hobart, you’re more likely to find something like this three-bedroom brick house in Glenorchy, about 7 kilometres north of the Hobart CBD, listed for $620,000.

For $509,000, AI envisions homes in the Top End as including a modern stilt house with weatherboard cladding or a rustic, laid-back waterfront home with a tinnie docked at the front – something you might see in Bayview or Cullen Bay, alongside more modern, luxurious waterfront properties.

Darwin’s typical home according to AI.

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The reality for sale for Darwin’s median price.

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In reality, a weatherboard home would likely cost you upwards of $600,000, while a waterfront property would likely be priced at over $1 million. For the median house price in Darwin, you’re more likely to find something like this four-bedroom semi-detached duplex in Moulden, 25 kilometres southeast of the Darwin CBD, listed for $499,000.

“AI tools are incredibly advanced in many respects, but clearly comprehending the price of Australian property is a bridge too far right now,” Mr Callery said.

“An average buyer could only dream of buying one of these homes.”

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