As average home prices continue to climb in some capital cities, many families have been forced to journey northward for more affordable homes, reports the Herald Sun.
Among the most affordable housing markets are Brisbane and the Gold Coast. Both markets offer competitive prices on well-located properties, along with a vast and varied inventory.
Recently-released statistics from RP Data show that only seven suburbs in Brisbane and the Gold Coast where median house prices are over $1 million. The average prices in these areas check in at $495,575.
However, it’s a much different situation in Sydney. A total of 172 suburbs in the Sydney area have a staggering median price of $1 million or more. The average price is equally high, at $806,907.
Beachside three-bedroom penthouse apartments in Broadbeach start at $429,000. In comparison, a similar apartment in the Sydney suburb of Coogee would sell for in excess of $800,000.
It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan