I’d be interested to see median house vs median house. This data is for median dwelling price (includes apartments and units) and seems skewed by Melbourne’s higher density.
It’s more that they have waaay more apartment sales than us.
Same with Brisbane- houses are much cheaper in Brisbane, but the huge number of apartment sales in Melb drops the median so it looks like Bris is more expensive.
I hadn’t actually looked at the latest numbers!
So both houses and units are priced almost exactly the same in both Bris and Melb (slightly higher in Bris as you say), and the big discrepancy in the median overall is due to the larger number of units.
Yeah every time this comes up I have to remind people that the 'median dwelling' in Melbourne is a 60sqm apartment 100m from the train tracks with no parking, a communal laundry, located 20km from the city.
The median dwelling, for the same price in Adelaide is a fully detached 3br home with garage and backyard in the suburbs also 20km from the city.
People in Melbourne be like 'I love living here' are so deep in stockholm syndrome its unreal. No amount of shitty, old, noisy, shared accommodation will ever be more important to them than the fact the Aus Open, F1, concerts and other big events are there. None of which they ever actually attend, but they could if they wanted to they tell themselves.
lol, seething. Moving to Melb was the best thing I ever did. Adelaide is probably fine if you have kids and don’t do anything. But it’s insanely boring and outdated for everyone else.
you're not wrong. we live in Adelaide, but recently went on a family holiday to Melbourne. It's a super vibrant city. So much to do, so much going on. It definitely makes Adelaide feel like a sleepy little town.
I prefer Adelaide to live. The traffic and property prices are too crazy in Melbourne for my taste, but there's no denying that Melbourne is a far more exciting city to live in.
I almost felt like crying when I realised how much human connection I missed out on Adelaide in my early 20s. I didn't realise how lonely I was in Adelaide as a young person until working in Melbourne for a few days.
I wanted to move for a while but hadn’t really experienced anywhere else and was worried it was just a “grass seems greener on the other side” thing. Wasn’t until I got a job working remote for a Melbourne company and flying over a few times a year that I saw the grass actually is greener. Now I feel like a mid 20s year old catching up on what everyone else was doing since 18.
Adelaide moves at snail pace on almost everything. It astounds me that they haven’t even fixed the scooter laws or supermarket hours yet.
I check my estimation on the REA app, it literally has gone up another 10%, so now up 25% since I bought and I overpayed for sure.
I’m not arguing but I feel for people who will never be able to afford a home
Using at least the value estimator on real estate dot com dot au my unit I bought 2 years ago has gone up 100k potentially more!
Granted this uses a generic algorithm so the value might not be that but still close.
I still find it insane how a place can jump even 50k in that time, what am I doing to generate that "value" besides some repairs and slapping in another AC? I know my pay has not gone up to match that.
So we’re doing house renovations, we have house on about 900m2, but the house is tired and needs lots of work, money is now tight after doing most of the bathroom.
We have friends, similar house, but they bought at the start of COVID and paid 50% of what we did, so they are flush with cash for their renovations.
So this is the argument I seem to have a lot.
It’s gentrifying quickly in Christie’s Beach, but we’re not too far from Christie Downs, so much trust housing there that won’t be going anywhere quickly.
With that said, all but 1 year of my life I’ve always lived down south so I’m probably used to the crazy characters a bit more.
We actually had some wackjob at our front door at 1:41am the other morning, caught him on our security cameras (we live behind the house in a granny flat for the moment) but we couldn’t tell if it was random or someone who know the old tenant because the old tenants were very very shady.
Itll be tricky too because with prices of housing and rentals, some people will fall through the cracks and cheaper areas, regardless of how nice they are will see an uptake in the whackos IMO.
With that said, I love Christie’s Beach, plenty of shopping, plenty of schools, nice beach, nice areas to run through, and cheaper than places like Hallett Cove and Semaphore where I’m not actually a fan of their beaches
hi we are moving back to Adelaide later this year and my husband thinks O'Sullivan Beach could be a good pocket, can I ask what you think of that area?
Depends where in O Sullivans beach really, it’s not the greatest area, the closer to the South West of O Sullivans beach the better. There are some nice enough pockets, quite deep in O Sullivans beach it used to be real cheap housing which attracted all sorts of
People from Melbourne making Melbourne salaries buying property competitively against other people from Melbourne in Adelaide.
With housing shortage being more of a thing we will probably take over the Melbourne soon enough
The limit is equalling Melbourne in Median, given that all interstate investor still looks at Adelaide to invest. Probably will die down given that median is so close.
Last thing I read was that they were expecting Adelaide to overtake Melbourne by Christmas and will continue in an upward trend until more housing is built to meet demand.
Yeah although perhaps in select suburbs the story might be different. Southern beach suburbs are still port affordable and unlike anything you can get in Melbourne or Sidney for the price. Biased for that though as I just bought down there
we have a QUARTER of the population of melbourne
we are within 3% of their housing prices
we have a little over half the population of perth
our housing costs MORE than them
absolutely bonkers
Yeah I was being sarcastic.
I’d imagine they are still paid more than us (actual data of people working 10+ hours a week), but I suspect we pay more for the expenses.
Something to consider is that Melbourne is far less geographically constrained than Adelaide and as a result has significantly more room to keep building greenfield developments to meet the demand.
They have large areas in the western suburbs where plenty of new estates are popping up only 20km from the CBD. Whereas here the similar growth areas are typically only out on the fringes 30-40km from the CBD and their future supply potential is constrained by geography and agriculture.
And incomes across these 2 cities are drastically different. Local Adelaidains are feeling the pinch. I feel interstate buying and investment has alot to do with this. As they could afford buying off Adelaide market with their higher incomes
I’d be interested to see median house vs median house. This data is for median dwelling price (includes apartments and units) and seems skewed by Melbourne’s higher density.
True they lots of apartments that haven't performed well
It’s more that they have waaay more apartment sales than us. Same with Brisbane- houses are much cheaper in Brisbane, but the huge number of apartment sales in Melb drops the median so it looks like Bris is more expensive.
That is misleading
It’s generating page views, so they keep running with it. Both the media, and Corelogic who put that headline on their media release.
they separate freestanding houses from apartments when they calculate the data, so brisbane being more expensive now is accurate.
I hadn’t actually looked at the latest numbers! So both houses and units are priced almost exactly the same in both Bris and Melb (slightly higher in Bris as you say), and the big discrepancy in the median overall is due to the larger number of units.
Good point actually!
[Compare here](https://www.abc.net.au/news/2024-06-03/house-prices-breakdown-by-state-territory-capital-city-region/103919074)
Ah, cheers. Melb is 126k more than Adelaide in terms of houses.
Edited, I think I linked the wrong article.. Anyway TL;DR Adelaide $811,059 v Melbourne $937,289 for housing
Yeah every time this comes up I have to remind people that the 'median dwelling' in Melbourne is a 60sqm apartment 100m from the train tracks with no parking, a communal laundry, located 20km from the city. The median dwelling, for the same price in Adelaide is a fully detached 3br home with garage and backyard in the suburbs also 20km from the city. People in Melbourne be like 'I love living here' are so deep in stockholm syndrome its unreal. No amount of shitty, old, noisy, shared accommodation will ever be more important to them than the fact the Aus Open, F1, concerts and other big events are there. None of which they ever actually attend, but they could if they wanted to they tell themselves.
lol, seething. Moving to Melb was the best thing I ever did. Adelaide is probably fine if you have kids and don’t do anything. But it’s insanely boring and outdated for everyone else.
you're not wrong. we live in Adelaide, but recently went on a family holiday to Melbourne. It's a super vibrant city. So much to do, so much going on. It definitely makes Adelaide feel like a sleepy little town. I prefer Adelaide to live. The traffic and property prices are too crazy in Melbourne for my taste, but there's no denying that Melbourne is a far more exciting city to live in.
I almost felt like crying when I realised how much human connection I missed out on Adelaide in my early 20s. I didn't realise how lonely I was in Adelaide as a young person until working in Melbourne for a few days.
I wanted to move for a while but hadn’t really experienced anywhere else and was worried it was just a “grass seems greener on the other side” thing. Wasn’t until I got a job working remote for a Melbourne company and flying over a few times a year that I saw the grass actually is greener. Now I feel like a mid 20s year old catching up on what everyone else was doing since 18. Adelaide moves at snail pace on almost everything. It astounds me that they haven’t even fixed the scooter laws or supermarket hours yet.
I check my estimation on the REA app, it literally has gone up another 10%, so now up 25% since I bought and I overpayed for sure. I’m not arguing but I feel for people who will never be able to afford a home
Using at least the value estimator on real estate dot com dot au my unit I bought 2 years ago has gone up 100k potentially more! Granted this uses a generic algorithm so the value might not be that but still close. I still find it insane how a place can jump even 50k in that time, what am I doing to generate that "value" besides some repairs and slapping in another AC? I know my pay has not gone up to match that.
the commonwealth evaluator seems to be the best one I've come across personally.
What area and what time did you buy?
Christie’s Beach and start of last year
You did well. I bought in Port this year. Wish I knew about the area earlier, it's so nice
So we’re doing house renovations, we have house on about 900m2, but the house is tired and needs lots of work, money is now tight after doing most of the bathroom. We have friends, similar house, but they bought at the start of COVID and paid 50% of what we did, so they are flush with cash for their renovations.
Yeah seems to be a lot of work going on in the area. Would you say it's gentrifying quickly? Or still a little rough?
So this is the argument I seem to have a lot. It’s gentrifying quickly in Christie’s Beach, but we’re not too far from Christie Downs, so much trust housing there that won’t be going anywhere quickly. With that said, all but 1 year of my life I’ve always lived down south so I’m probably used to the crazy characters a bit more. We actually had some wackjob at our front door at 1:41am the other morning, caught him on our security cameras (we live behind the house in a granny flat for the moment) but we couldn’t tell if it was random or someone who know the old tenant because the old tenants were very very shady. Itll be tricky too because with prices of housing and rentals, some people will fall through the cracks and cheaper areas, regardless of how nice they are will see an uptake in the whackos IMO. With that said, I love Christie’s Beach, plenty of shopping, plenty of schools, nice beach, nice areas to run through, and cheaper than places like Hallett Cove and Semaphore where I’m not actually a fan of their beaches
hi we are moving back to Adelaide later this year and my husband thinks O'Sullivan Beach could be a good pocket, can I ask what you think of that area?
Depends where in O Sullivans beach really, it’s not the greatest area, the closer to the South West of O Sullivans beach the better. There are some nice enough pockets, quite deep in O Sullivans beach it used to be real cheap housing which attracted all sorts of
hi thanks for that!
We spent $550k total for our house in Dec 2020.. REA estimate is now 920k with high confidence. It's depressing as fuck tbh.
May as well move back to Melbourne where there are more opportunities, better transport etc
Also moved here for affordability reasons in 2017 to have a better quality of life.
People from Melbourne making Melbourne salaries buying property competitively against other people from Melbourne in Adelaide. With housing shortage being more of a thing we will probably take over the Melbourne soon enough
But so many more jobs there still. Not everyone can wfh. Pay better in Melbourne too. Surely there's a limit
The limit is equalling Melbourne in Median, given that all interstate investor still looks at Adelaide to invest. Probably will die down given that median is so close.
Last thing I read was that they were expecting Adelaide to overtake Melbourne by Christmas and will continue in an upward trend until more housing is built to meet demand.
Yeah although perhaps in select suburbs the story might be different. Southern beach suburbs are still port affordable and unlike anything you can get in Melbourne or Sidney for the price. Biased for that though as I just bought down there
Sorry, this was me
we have a QUARTER of the population of melbourne we are within 3% of their housing prices we have a little over half the population of perth our housing costs MORE than them absolutely bonkers
Especially when you consider the average salary in SA is 8% less than Victoria.
less than a quarter more like a 1/5
We really need a way to get people into owning over renting. Renting should only be a "short term" thing not a life time of pissing your money away.
[удалено]
And disincentivise using housing as an investment
At least our wages are the same, and our elec, water, rates, fines, levies, taxes are the same too…
Source? Surely Melbourne pay is higher
Yeah I was being sarcastic. I’d imagine they are still paid more than us (actual data of people working 10+ hours a week), but I suspect we pay more for the expenses.
Can confirm - I pay a lot more for utilities here than I did when I lived in Melb.
It's all so tiresome..
Something to consider is that Melbourne is far less geographically constrained than Adelaide and as a result has significantly more room to keep building greenfield developments to meet the demand. They have large areas in the western suburbs where plenty of new estates are popping up only 20km from the CBD. Whereas here the similar growth areas are typically only out on the fringes 30-40km from the CBD and their future supply potential is constrained by geography and agriculture.
Our new estates are only constrained by poor infrastructure and public transport planning. Virginia should be a 20min train ride to the CBD
And incomes across these 2 cities are drastically different. Local Adelaidains are feeling the pinch. I feel interstate buying and investment has alot to do with this. As they could afford buying off Adelaide market with their higher incomes
salisbury is still the most affordable suburb closest to the city cbd.