Hi ,
Real estate agents and buyer advocates report
increased enquiries from Sydney buyers keen to purchase a home or an investment property in Melbourne, with Melbourne's comparative affordability the biggest drawcard.
As Australian house prices continue on an upwards trajectory, the median house price for combined capital cities reached $1,154,394 in June
2024, according to the Domain House Price Report (June Quarter).
If you live in Sydney, you can expect to pay well above that with the median Sydney house price now at $1,662,448.
While Melbourne has the second highest median house price in the country, the price difference between Sydney and Melbourne is substantial. The median Melbourne
house price in June was recorded at $1,068,805, almost $600K less than Sydney.
As Sydney house prices continue to soar out of the reach of many home buyers and an equally appealing lifestyle is on offer in Melbourne, Sydney home buyers and investors see that $600K saving well worth relocating to Melbourne
for.
They see the Melbourne market as the place where they can get far more bang for much less buck, even despite house prices in Sydney forecast to see stronger gains than Melbourne over the next year.
But the secret to successful property buying anywhere in Australia is knowing exactly where and what to buy, and how much to spend. That is not always easy to achieve in a different city where you know little about the real estate!
The answer is to engage the services of an experienced buyer's advocate, who can help you find the right property in the right location for the right price.
