steve99

On another thread we've been having a WA discussion on house prices in Perth and what there likely to do, I raised the question of comparing like for like with Perth and Eastern States and that just comparing the average sale price for each city may not be a true reflection or comparison as what you get and where you get it in one city could be totally different to the others.

Without seeing both or having a true understanding of each environment etc its going to be tricky, but as an example here's something from Perth to start the comparison with.
So what would it cost to buy the equivilant to this in Sydney/Melbourne/Brisbane/Adelaide etc?

As an example: If you wanted to live in say a fully renovated 4/5 bed 2 1/2 bath house with pool,A/C, 2mins to the nicest beaches/ocean, 15-20mins peak hour drive into the CBD on about a 900Sqm block what would it cost?



Steve

MrsDagboy

Hmmmm, can't really compare it to Brisbane as the beaches here arent on the ocean like the GC or Perth, but Manly/Wynnum area (coast), fits all the rest of the criteria (well close, 30 mins to the CBD, there are no beaches closer to the CBD).

Are you talking 2 mins drive to the water, or 2 mins walk?

steve99

say its a 2mins drive by the time you've negotiated a couple of junctions, As the crow flys its probably 500Metres.
A 30mins drive to the CBD makes a lot of difference to the price in Perth, going 15mins further away could mean $250K's difference here.
I am expecting responses saying its not possible to get that in certain city's, thats half the objective I guess, to find out whether when were comparing something in Perth with say Sydney based on an "average" Price alone that its not comparing like for like, becasue it doesnt exist.
Steve

walla

It's impossible to compare mate.

So if I said Cottesloe, which would be in the millions, how do you compare like with like with the eastern states?

steve99

Im not with you, impossible because you cant get it in the Eastern States?

jad n rich

900sm block, is that size block common in perth? wouldnt have thought so, most new developments in the east are 650ish and less going down to 300 :scared: . Older houses are often on the 800 odd. Unless you move to some outer burb where theres endless land to carve up of course.

steve99

It can be common yes, all depends on the suburb really, largely depends on how far away you go from the cbd.
Its just being used as a comparison in this instance, just because I know what that costs here and want to know what as close to that would cost in the other major cities.

MrsDagboy

Im not sure your logic is sound - if it doesnt exist, it doesnt exist. Shouldnt you be comparing, say, the closest waterfront/beach property in each city? (well we are I guess).

Thats like saying that Cairns is much better than Perth cos it has waterfront property closer to the centre of the city than Perth does. But of course in fact the parameters are screwed because a. Cairns geography means that the city centre is closer to the water & b. cos Cairns is a much smaller place & you cant compare a city of 1.5 million to one of half a million.


Anyway, here's a range in Wynnum/Manly, all within spitting distance of the water (or a 2 mins drive ) & I think they all have views. 810sm (or half that - 405) is the size that most blocks were here until the 70s. The slightly larger blocks are newer developments.

Almost an acre about 200 yards from the water, backs onto the creek - $1.1mill

50 yards from the water, overlooking a park - $790K

2 min walk to water - $750K

2 mins walk

5min walk (2 min drive)- $595K

Another one 2 mins drive - 5 min walk $595K

$525K - 2 mins drive

BTW, there are plenty more than that, especially in the higher price bracket, they were just the ones I picked out that looked nice.

MrsDagboy

Plenty of blocks 800+ down Wynnum/Manly way, you just have to have the money to pay for them .

steve99

No because in some cities it might mean that id have an hour plus drive to work which I dont in Perth, were trying to see as an overall comparison taking everything into account. Im trying to say its costs X to have the criteria ive outlined in Perth what does it cost in the other cities. If it doesnt exist for whatever reason then its just an extra tick for Perth I suppose.

But im not comparing Cairns for those exact reasons.


Maybe I shouldnt of been so specific from the outset, I should of said can you live 2mins from the Ocean and only be 15mins peak hour drive from the CBD. What would the response from Sydney/Melbourne/Brisbane/Adelaide be?

MrsDagboy

No. But how much is a house of the type you described & where you are talking about going to set you back?

Well heres another tack - can you buy a house on a 2.5 acre block less than 10 mins from the water & 8kms/20 mins from the CBD in Perth?

steve99

Somewhere around $900 to $1.1M.
Are you talking the Ocean or river/lake/pond/puddle (sorry your rain probably doesnt creater puddles does it 10mins & 20mins by helicopter, by car, on foot? Either way If you could afford it yes I would think you could.


Looks like I havent explained this very well as people seemed to of missed the objective.
Say someone was now living in Perth and had the property described before, for whatever reason they have to move over East and have a choice of the 4 main other cities, what will it cost them to buy the exact same there in terms of size of property and block size and be located the same distances from the ocean and the CBD.
If the answer is its not possible then why not, ie you cant in Brisbane because to live that close to the CBD would mean an additional 1hr drive to the ocean.
Steve

jad n rich

Brisbane has 2 coasts tho total population of those is around 500,000 probably more. Up here sunshine coast 2 mins to our CBD and one minute to the beach you could buy a similar 4 bedroom house to what we rent for low 400's its a surf beach too. We did try to buy it , landlord has no intention of selling it, probably because it will be worth a bomb in 5 years time.

MrsDagboy

haha, Im talking the ocean, albeit, there is no surf, 10 mins drive to the water, 20 mins drive to the CBD.

OK, so in Brisbane to live 10-15 mins further out its 300K cheaper, so its on an equivilent with Perth since you said 10 mins further would drop you $250K. Very similar.

And no, your scenario is not possible in Brisbane merely because the CBD is not as close to the water as it is in Perth, its located up the river a bit further. If you want to go to the Sunshine Coast or Gold coast they both have exactly what you describe, just smaller in scale, but still only an hour or 2 to Brisbane CBD.

It boils down to choice, if being close to the beach as well as a major city CBD is that important then you will choose to live in a city that is close to the water & Perth may suit you. If other things are more important then it wont .

NickyC

That just about sums up where I am in Coogee. Distances from beach and CBD about right. A house like you have mentioned would be around the 2 million dollar mark. An older one (built in the 20's but renovated recently) with those specs, land size and pool, sold for just over $1.8m recently. Another house, just around the corner from us, basically a brand new house (it was a re-build), sold for about $2.3m.

Neither of these houses were 'project' homes so not sure if you can compare them with your 'average' brick veneer Perth house. The first was an original Californian bungalow, beautifully renovated, and the second was architect-designed and master-built.

Here's one up for auction soon. Fits your specs. Will go for over $2m.
Here