Talking points
- Australia house price median passed $1 million for the first time in December.
- The median can now buy properties in some of the world’s most expensive countries.
Property listings
Australia’s property market has boomed over the past year. The national median house price hit $1,066,133 in December, on Domain data, the first time it has risen beyond $1 million.
With such sky-high capital gains, some homeowners will be wondering whether to cash in and buy something else, possibly in another country.
So, just what can our median house price bag you overseas?
Zakynthos, Greece
For those dreaming of the ultimate island getaway, this three-bedroom villa could be just the place to buy.
The home has spectacular views.Credit:Properstar
The inside of the home is charming.Credit:Properstar
Completed with local stonework, the home includes spectacular views of the surrounding sea and the island itself.
The villa comes with a swimming pool, fruit and Kalamata olive trees, and terraced gardens with wildflowers.
Zakynthos is the third-largest Ionian island and is not only famous for being a popular holiday destination, it is also mentioned in Greek poet Homer’s famous works The Iliad and Odyssey.
For a price of just $1.02 million, there would be some spare change to spend on a holiday on another island, if life in your seaside villa got too hectic.
New York, USA
With a reputation as one of the busiest and most expensive cities in the world, especially for property, Australia’s house price median can still buy a bolthole in the Big Apple.
Australia’s median house price can buy this apartment in Queens, New York.Credit:Realtor.com
Hmm, maybe the Greek villa is the better option.Credit:Realtor.com
To get close to New York City, buyers would need to look at a property like this two-bedroom, pre-war apartment in the Queens borough.
Though on the small side, the apartment in Jackson Heights is priced at $932,000, which means it would leave some leftover dollars for furniture or to redecorate.
It’s also in a pet-friendly building, so you don’t have to leave the pooch back in Australia.
Montreal, Canada
While our national house price won’t buy much in the US, anyone looking for a property in Canada could get a three-bedroom, three-storey townhouse in Montreal.
The unique home includes a heritage stone facade, a spa and, most importantly for those who love cheese, is close to some choice cheese shops, according to the marketing.
This three-bedroom townhouse in Montreal is close to cheese shops.Credit:Realtor.ca
The townhouse is unique.Credit:Realtor.ca
And with Montreal being one of the most populous cities in Canada, buyers would be in the middle of all the action.
At $875,000 Canadian dollars, it’s well within a budget of Australia’s median house price.
Yokohama, Japan
Property in Japan is famous, or infamous, for being prohibitively expensive, so it’s perhaps no surprise that the Australian house price median won’t buy you much there.
This three-bedroom apartment is much smaller than what many Australians would be used to.Credit:Japan Property
For around 77,800 yen (or almost $934,000) buyers could get a three-bedroom apartment in the Nishi Ward Yokohama, Kanagawa – about 32 kilometres from Tokyo.
While it does have three bedrooms, the apartment is just 86 square metres, making it a lot smaller than the average Australian home: 474 square metres according to the Australian Bureau of Statistics.
It’s also on the 11th floor, meaning there’s quite a climb if the lift breaks.
Glendene, New Zealand
Like Australia, New Zealand’s house prices have skyrocketed over the past two years, fuelled by low-interest rates and a desire for larger digs during the coronavirus crisis.
A million Aussie dollars there could possibly snag buyers a three-bedroom home in Glendene in western Auckland.
The home in Glendene.Credit:Realestate.co.nz
The low end of the automated estimate advertised on this home is $NZ1.13 million, putting it just below the Australian median.
London, England
House prices have also been booming across Britain, especially in London, which means a budget of just above $1 million won’t buy you a large home close to the city.
What it can get you, for at least around $945,000, is a compact one-bedroom apartment in the Walworth district about a 10-minute trip from the centre of London.
This London apartment was built two years ago and is very compact.Credit:Zoopla.co.uk
Built just two years ago, the apartment has floor-to-ceiling, double-glazed windows with uninterrupted views of the city, as well as underfloor heating.
Paris, France
One couldn’t think about moving overseas without considering a move to the most romantic city in the world.
But you might fall out of love with house prices in Paris, as $1 million won’t buy you much close to the city.
This one-bedroom apartment is close to the Champs-Élysées.Credit:French-Property.com
For about $1.04 million, buyers could get a one-bedroom apartment in Paris’ 8E Arrondissement, close to the Champs-Élysées.
According to the listing, the apartment has been recently renovated and has an oak parquet floor and a fireplace for those romantic nights in.
Stresa, Italy
Perhaps having some of the most beautiful views of Lake Maggiore would be enough to entice buyers to move to this two-bedroom home in the resort town of Stresa in Italy. The ‘rustico’ home overlooks the lake and is close to the border with Switzerland.
Originally built in the 1800s, it has been completely restored and includes a large kitchen and a jacuzzi in the bathroom.
This home in Stresa has stunning views of Lake Maggiore.Credit:Baerz & Co Luxury Homes
How’s the serenità?Credit:Baerz & Co Luxury Homes
Priced at just more than $972,000, it would leave enough money to buy some fantastico water sports equipment.
Puerto Vallarta, Mexico
A country that could see Australian buyers get the biggest bang for their buck is Mexico, where our median house price roughly equals 15.7 million pesos.
For that money, buyers can snap up a two-bedroom, two-bathroom apartment overlooking the ocean in Puerto Vallarta, about an 11-hour drive from Mexico City.
According to the marketing, the unit costs about $905,473 and includes a wrap-around terrace which is perfect for entertaining.
Anyone for Mexico?Credit:Timothy Real Estate Group
The apartment has a very colourful interior.Credit:Timothy Real Estate Group
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