Home' API Magazine : January 2015 Contents 26 n APIMAGAZINE.COM.AU n JANUARY 2015
It’s all about location, location,
location, Biggen says.
“They’re moving from Black Rock,
15 to 20 minutes further south, because
they want to be close to Brighton and
walk everywhere,” she says. “They’ll
build a new home for themselves. Not a
big one, more like a downsizer home.
“They’re just one block, or a
two-minute walk, to Church Street.
That’s one of the best shopping areas,
with cafés and restaurants.”
Further south towards Frankston,
$1 million would get you an absolute
beachfront property, Bakos says.
With a median house price of $480,000
and a median unit price of $365,000,
$1 million will take you much further in
the ‘bargain’ city of Brisbane.
There are 15 suburbs in Queensland
with a median price tag of $1 million or
more. But when you look at some of the
blue-chip suburbs in the Sunshine State,
you’ll find the homes are larger than the
state’s southern counterparts.
Take a property in Mullin Street,
Paddington, that recently sold for
$990,000. It has stunning city views,
four bedrooms, three bathrooms and
sits on a 607-square-metre block. A sales
price of $1 million would also get you a
four-bedroom, two-bathroom property
in Bulimba, one of Brisbane’s blue-chip
suburbs, right by some of the trendiest
cafés and the city cat (ferry) terminal.
Anything between $900,000 and
$1.1 million is doing very well at the
moment, so that million price tag is
attracting families who are upgrading
and taking advantage of a rising
Brisbane market and low interest rates.
“If you look at Camp Hill or Carina,
you won’t buy much for less than half
a million dollars,” Remax agent Tony
Ugrinic says. “Upgrading families have
the borrowing capacity to go there
and (low) interest rates have also had
Looking for a better deal? You could
easily buy two for the price of one
in Queensland or head south to the
cheaper part of Brisbane and discover
Logan. You could get four houses for
$1 million here, as most properties are
Western Australia has almost as many
suburbs with a median of $1 million or
more as Victoria. Its median house price
is $537,750 and median unit price
Hegney Property Group founding
director Gavin Hegney says you could
buy a large, beachfront property
50 kilometres north or south of Perth
for $1 million. If you’re looking for
something closer to the city, you’d
probably have to buy an apartment.
“If you have $1 million, that would get
you a new two-bedroom apartment in
the heart of Claremont,” he says.
“It will also get you a two-bedroom
apartment on the beach at Leighton
Beach, just near Fremantle.”
He says $1 million would also nab a
“really nice home” within 15 kilometres
of the CBD.
“Areas like Woodlands, Wembley
Downs, basically the western suburbs,”
he says. “Also South Perth or Mount
Lawley on smaller blocks.”
nCOOLING CANBERRA MARKET
The Canberra market has been slightly
affected by the Federal Budget, but it’s
still very much “steady as she goes”,
according to Gordon Yeatman of Propell
The median house price is currently
$565,000, while the median unit price is
$396,000. However, blue-chip suburbs
still come with a hefty price tag and
there are seven suburbs with a median
house price of $1 million or more, along
with one unit suburb.
If you’re keen to live or buy in one
of the ACT’s most exclusive suburbs,
Yarralumla, you need plenty of dough. A
four-bedroom, three-bathroom property
on a 917-square-metre block recently
sold for $985,000.
It had a separate studio as well as
being a brick home and the rental
estimate for both combined was about
$775 to $850 per week.
Yeatman says $1 million would get an
investor or homebuyer a property right
in the centre of the CBD or in a suburb
nearby such as Ainslie.
“It would be a cavity-brick style,
terracotta tile house, often already
extended to four bedrooms,” he says.
“Or you could push further out in
places like Nicholls, where you can get
small mansions for that price.”
Alternatively, you might be able to
pick up two properties further out again,
in Farrer, he says. But even that’s now
difficult to find if you’re keen on a three-
bedroom house. “Outside of Farrer, I
don’t think you’d find it,” he says.
nDARING TO DREAM IN DARWIN
With seven suburbs holding a median
price of $1 million or more in Darwin,
this part of Australia is still holding up
well. But Herron Todd White Northern
Territory director Terry Roth points
out Darwin usually does the opposite of
what Sydney and Melbourne are doing.
He says anyone with $1 million to
spend would probably be better off
buying two properties for $500,000,
because cheaper properties tend to have
stronger yields and a bigger rental pool.
This property in Brighton, Melbourne, sold for exactly $1 million
This property in Fannie Bay, Darwin, sold for exactly $1 million
FEATURE n What Does $1 Million Buy You?
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