For first home buyers and investors locked out of the property market the grass may be looking much greener in the United States.
Prices in Australian cities are as high as they’ve ever been with Sydney’s median house price hitting $1,123,991, according to Domain Group data, even the median price in New York City is less than that at $829,179 ($US626,600).
More generally, the national median home price is $US193,800.
Now we have the data on where most Australians are searching in the US from US listings site Zillow, revealing the home of Hollywood, Los Angeles, as the most popular city among Aussies.
For those considering applying for a green card, here’s what the Sydney median (equal to $US849,385) gets you in Los Angeles – and for those keen to branch out – and 10 other major US cities too.
Los Angeles
Thanks to all the pop culture made there Australians are attracted to LA. Photo:
Zillow
LA is Australia’s favourite city for househunting, according to Zillow. And it makes sense – we don’t want to leave behind beaches, traffic and warm weather.
The city has a median home price of $807,742 ($US610,400) so may still be in reach for those who can’t buy in Sydney, or just want to move in near to a few celebrities. You can buy one of Los Angeles’ trademark 1950s style bungalows like this four-bedroom home in the suburb of Fullerton for $849, 000.
New York
Sydney’s median home price could buy an apartment on Park Avenue. Photo: Zillow
Street view of Park Avenue. Photo: Google Maps Street View
Unsurprisingly Australians love the Big Apple nearly as much as they love LA. What may be surprising is that NYC’s median home price is cheaper than Sydney’s, and at $829,179 it’s only $35,000 more than Melbourne’s.
New York properties are typically smaller than Aussie homes so for $849 000 you could buy this three-bedroom apartment on Park Avenue and while it doesn’t have a backyard with a gumtree, it’s only two blocks away from Central Park.
The apartment has just had a new kitchen put in and is in a building with a 24-hour concierge and parking.
Las Vegas
Sydneysiders who are keen to stay out after 3am lockout laws might be interested in Los Angeles, where a six-kilometre strip of casinos is open 24 hours. The city’s median house price is $US207,800 or $274,982. For $US825,000 you can buy water frontage and an outdoor pool, as per this house on a street named Captain’s Place. Perhaps inspired by the city’s glitz this three-storey house has gold door fittings, skirting boards and a gold door, as well as an elevator and grand piano.
Seattle
Seattle is the fourth most popular choice of househunting Australians. Photo:
Zillow
Seattle’s median home price is $806,022 ($US609,100) making it one of the more expensive US cities, but it still has a variety of properties available. It’s also the second fastest growing house market – prices rose 11.3 per cent in 12 months according to data from Zillow. We like this cute Tudor style home with four bedrooms and a wood fireplace, on the market for $US849,000.
Chicago
A three-storey Southern style house with a verandah in Chicago. Photo: Zillow
This long redbrick three-bedroom home in Chicago is on the market. Photo: Zillow
In the windy city the median home price is $283,318 ($US214,100), which is a quarter of Sydney’s. With Sydney’s median price – equal to $US849,000 – you could buy four average-sized houses in Chicago or two larger ones like the two pictured above. A three-storey Southern style house with a verandah is on the market there for $US415,000 or there’s this long redbrick three-bedroom home for $US435,000 but you could take them both.
Detroit
This home costs a little over half of San Francisco’s median price. Photo: Zillow
Despite the fact that San Francisco’s median home price is higher than any Australian city we’re still keen to browse listings there, attracted to the West Coast lifestyle and booming job market. The median is America’s most expensive, at a hefty $1,517,560 ($US1,146,800) so for Sydney’s average price you could still get a tiny inner city apartment or something a bit further out of the city.
This home is $US849,000 and while the facade might not be enough to move overseas for it has four bedrooms and a newly renovated upstairs with skylights.
San Diego
Houses are big in San Diego, like this desert style four-bedroom house on the market for $US849,000.
this desert style four-bedroom house on the market for $US849,000.
Detroit
This three-bedroom house in Detroit is on the market for $US36,000. Photo: Zillow
Detroit’s median house price $49,756 ($US37,600) means you could feasibly buy at least 20 houses for the same price as one in Sydney. In January 2007 the median house price of Detroit was $US76,000 but in the 10 years since the GFC and closing down of major manufacturers in the city has seen home values fall off a cliff. But in the last 12 months the city has started to see price growth, and is the fifth fastest growing city on this list.
For the median price of Detroit you could get something like the above, a redbrick four-bedroom house or a three-bedroom white cottage style home.
This Portland home is cosy and classy. Photo: Zillow
Hipster haven Portland is the fastest growing city in the US, where home values have risen 12.9 per cent in the last 12 months. With a median price of $537,524 ($US406,200), Portland has a similar entry point to Brisbane where the median is $540,758, however the weather in the two cities is almost the opposite. On the market for $US840,000 this Portland home has a bonus third-storey bedroom, was built in 1904 and has period inspired features and french panelled doors and windows.
What you’d pay for something small in Sydney can get you
a lot of space in Atlanta. Photos: Zillow
What you’d pay for a two-bedroom flat in Sydney could get you luxury and space in Atlanta, in the country’s south-east. The median house price there is less than any Australian capital city, at $266,777 ($US201,600), so for $US845,000 you could buy something grand like this house. The four-bedroom property has three wings with plenty of light coming in and a large sandstone patio.