What $600,000 can buy you across Australia’s capital cities

As property prices continue to rise, let’s take a look at what $600,000 can buy you across the capital cities of Australia in April of 2021.

In March 2021, according to CoreLogic, the national median house price was $782,473. This is an increase from the national median of $524,149 just one year ago.

Whether you’re an investor, owner-occupier or first-homebuyer, the rapidly rising prices of homes in Australian cities can be hard to keep track of. To get the most up to date market information you can speak to our expert team.

We’ve taken a look around the country to see what prospective buyers could secure with a budget of $600,000.

Melbourne House


Despite the median house price in Melbourne sitting at $736,620, it is possible to find a house in the outer suburbs for $600,000.

This two-bedroom home in Maidstone, offers the opportunity to enjoy the Inner West lifestyle of Melbourne. Within walking distance to public transport, shops and schools, it’s a 25 minute drive to Melbourne’s CBD. The asking price is between $580,000 – $630,000.

Gross rental yields across all dwellings in Melbourne are sitting at 2.9%.

House Sydney


With the city’s median house price sitting well beyond the $600,000 price limit (Sydney’s median house price being $928,028) we need to look further out to find an available home.

This two-bedroom townhouse in Bankstown comes with an asking price of $590,000. The townhouse, which is situated on 177 square metres, is about a 45 minute drive to the CBD and has a private tiled backyard.

In Sydney, gross rental yields across all dwellings are 2.7% at the beginning of April in 2021.

House Brisbane


With offers over $599,000 only considered, this two-bedroom property falls right on budget.

This Morningside property boasts large bedrooms and bathrooms in a townhouse format and is only a 10-minute drive from Brisbane’s CBD.

The is opportunity for investors in Brisbane with gross rental yields across all dwellings rising to 4.3%.

House Adelaide


Finding a nice house up for grabs in Adelaide for under $600,00 isn’t difficult, as the median house price in the city sits at $486,555.

This three-bedroom house is in Flinders Park which gives occupants the chance to enjoy both the beachside and cityside of Adelaide. It is listed at $599,900.

Across the suburbs of Adelaide the average gross rental yield sits at a steady 4.3% and compared to a year ago, rent rates are up 5.3%

House Perth


This 457 square metre, two-bedroom house in sunny Woodlands has an asking price of $599,000, which is well above the city’s median price of $505,850.

The house hosts a huge grassy backyard and is only a 15-minute drive from Perth’s centre.

Over the past 12 months the change of house rent in Perth has increased 14.6%, with gross rental yields sitting at 4.4%.

House Hobart


House prices in Hobart continue to rise with the median price in the city now up to $548,686.

This four-bedroom 1918 cottage is situated in Lenah Valley – just a 10-minute drive to the CBD. Located on the cusp of Mount Stuart, this character-filled home sits on 692 square-metres of land. Bidding starts at $550,000.

Hobart’s annual change in housing rent has increased 4.1% and the gross rental yield is currently 4.5%.

House Darwin


You can dream big when it comes to buying a house in Darwin – the capital city with the lowest median house price at $451,408.

This three-bedroom home sits on a sprawling 1000-square-metre block, with a pool, and is just a 15-minute drive to Darwin’s CBD, in the north-eastern suburb of Anula.

Darwin is fairing the best of all capital cities when it comes to the annual change in house rent, increasing 17.9% from this time last year. Gross rental yields across all dwellings in Darwin is at 6.2%.

House Canberra


House prices in Australia’s capital city continue to rise as demand becomes greater and greater. Without may public transport options but minimal traffic, there are places to find not too far from the centre.

Situated a 15-minute drive from Parliament House, this three-bedroom home in Coombs, in Canberra’s west, comes with an asking price of $560,000+.

Canberra’s annual change in house rent is up 5.8% with the current gross rental yields being 4.4%.

If you are thinking of purchasing Australian property and need informed, specialised advice on how to break into the market faster or expanding your property portfolio, get in touch with us today by calling 1300 359 245 or dropping us a message here

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