Australia is a beautiful country to live in whichever city of it you may choose. Still, there are a lot of factors to consider if you want to make a wise Australia real estate investment choice. One good sign is that Australia’s economy is expected to pick up this year, and along with it are the individual economies of its cities. We’ll give you a glimpse of what Brisbane and Sydney can offer:
Both have a great property market state but one is cheaper
The Brisbane property market remains resilient amidst recent economic drops. Although Brisbane house prices rose 4.5% with the median now over AUD 540, 000, that’s still just half of the Sydney property prices which now cost an exorbitant amount of AUD 1, 123, 991. These high house prices in Sydney are making people look for Australia homes elsewhere.
The Brisbane harbour at dusk
“The house price gap is just too large. People can save so much money by making that move, and that’s going to start to become very attractive for those who either already own a home in Sydney or who are weighing up the option of buying in Sydney.” Rob Honeycombe, chairman of the Real Estate Institute of Queensland, said about Sydney’s and Brisbane’s property prices.
Fast-paced versus laid-back lifestyle
When buying property, it’s very important to note the kind of lifestyle the location offers. For businessmen, the kind of lifestyle will tell them how to market the property and who their audience will be. For home buyers, the kind of lifestyle will determine their day to day grind in their new home.
Sydney is a world-class city offering you everything you can ever imagine but for a price. A high price, that matters. The city has its own share of beautiful beaches, a vibrant night life, high-end shopping malls, and, of course, the iconic Sydney Opera House. It’s also good to note that Sydney has a fast-paced life being a central business district. If you love the gentle hum of a busy city, you should get an Australia property here.
Sydney harbour at night
Brisbane, on the other hand offers a more laid back lifestyle compared to Sydney. Some say it has a better sense of community and offers a better work-life balance which is what convinced them to buy Australia real estate here. Don’t be deceived by its more laid back vibe, Brisbane also offers world-class amenities and beaches. The best part? It’s for half the price of Sydney property!
Higher cost versus lower cost of living
Numbeo, from user-generated estimates, says generally “You would need around 7,496.35A$ in Sydney to maintain the same standard of life that you can have with 5,900.00A$ in Brisbane (assuming you rent in both cities)”. Both of these cities are great choices for an Australia real estate investment. Just remember to keep your budget and lifestyle in mind before you choose.