As Australia’s median house price reaches a record high and international borders inch closer to reopening, one can’t help but wonder whether the grass might be greener—or better yet, the houses might be bigger—overseas.
At present, Australians need to put down around $956K when buying at the nation’s median house price, up 18.8% over the year. But to live in Sydney you’ll have to fork out another $340K or so, with Sydney’s median house price now at just over $1.3 million. At the current exchange rate, that’s about 944,000 US Dollars. Here’s what that kind of money buys you in the states.
Los Angeles, California
As a city, LA shares a lot of similarities with Sydney. We’re both blessed with consistent warm weather, close to the beach, and allergic to full cream milk. But it turns out our property markets are comparable too, with the current median price for a single-family home in Los Angeles sitting at around $785,000 USD ($1.08M AUD). If we bump that up to $944K, aka the equivalent price of the average home in Sydney, you’re looking at a 2 to 3 bedder like this charming bungalow in the uber trendy east side neighbourhood of Silverlake. If you want to be closer to the coast and the more exclusive zip codes of Brentwood and Santa Monica, an apartment like this in West LA is the same price.
Lovers of the great outdoors flock to Portland, Oregon, renowned for its scenic national parks, mountainous regions, and climate progressive politics. For $1.3M AUD you’re looking at a much bigger house than that 2bed, 1bath in Redfern you had your eye on. Here, money buys you space. A lot of it. For just 940K USD, you can get a 4 bed, 2 bath 3,656 sq ft home in the heart of Portland that looks like it was sketched from a Disney fairy tale with original 1930’s tiling and design.
Considering the median house price in the Chicago Metropolitan Area is $310,000 USD (up 12.3% this year), shopping at three times the city average opens up a bounty of opportunity. Fancy a regal looking 5 bedroom, 4 bathroom, 3,000 sqft Greystone owned and restored by a local architect? Same. Intricate ornamental plaster ceilings, mahogany finishings, and no less than seven fireplaces await you inside your new mini mansion in the windy city.
Instead of splurging on an all-inclusive holiday resort, why not just move to one permanently instead? That’s what’s on offer for $1.3M AUD in Houston, Texas, where you can live in the prestigious gated community of Windsor Park Lakes. While prices in Houston rose 6.6% to a median of $334K this year, expansive 4 bed/3.5 bath Mediterranean style homes like this one with a pool, spa, and private cabana come with an asking price of $940K. Not only does this property have lake views, but it also backs on to ‘George Bush Park’—can’t get much more Texas than that.
New York, New York
Close your eyes. Picture a shoebox. Now open them. Welcome home. Jokes aside, New York is renowned for its small apartment sizes with large price tags. In Manhattan, $1.3Million is going to get you a 1bedroom, 1 bathroom condo with a square footage under 900. This ‘loft like’ home in the heart of west village features classic New York style exposed brick walls, high ceilings, and a doorman to help you forget you just dropped over a million dollars on a glorified studio apartment. But who cares? You live in New York! Ain’t no city like it.