Who comes out the clear winner?
When it comes to crunching the numbers, the figure simply don’t lie…the clear winner is Brisbane, particularly when you compare it to Sydney silliness.
Here’s what we know:
More Sydney suburbs have a median house value of $2 million than a median value under $600,000.
- At the end of 2016, the proportion of suburbs with a median house value of less than $400,000 was recorded at 0.1% in Sydney – in Brisbane it was 29.2%
- Brisbane has 93 suburbs with a median value priced under $500,000 – compared to Melbourne with just 3 and Sydney a lonely 1.
What does this mean?
- As affordability deteriorates, Brisbane is the clear winner offering the best of both the value for money and lifestyle world.
Fed up Sydneysiders are flocking to Brisbane in droves to escape the ridiculous prices. In fact, they are ditching Paddington for Paddington (Paddington Queensland that is).
The inner city suburb of Brisbane is seeing a surge in relocating Sydneysiders who are sick of the prices but want to retain their lifestyle. And if you look at the figures, it’s easy to see why. In Brisbane, the median price for a three bedroom house in Paddington is much less, with Paddington, Sydney costing more than 2.5 times the price at $2.22 million…crazy!
One ex Sydney dweller sold a one bedroom unit in Sydney for $1.3 million to relocate to a five bedroom house with a pool for the same amount in Paddington, Brisbane. It’s not rocket science is it? Brisbane offer so much more in value. Not only that, it also offers consistently strong returns for investors – a winning proposition in anyone’s book.
Sydney is the world’s second least affordable city after Hong Kong…with prices off the charts and quite simply, very low on the value for the money scale.
When you map out the city on a scale of prices…it lights up with red zones everywhere – suburbs with prices $1 million and up dominate the landscape.
Compare the same map with Brisbane and it’s a mild sea of green zones of $500,000 or less. Take a closer look at this picture here
Interstate migration is back on the rise as families favour the sunshine State’s lifestyle and weather and the Queensland capital has been ranked the 20th most liveable city in the world.
No doubt about it, the figures don’t lie.
10 Properties in 10 Years…
Yours in success….