One of the questions that we hear the most on the Australian Heritage Homes team, is just how much value a home can garner. It’s a big source of trepidation before prospective homeowners want to take the plunge. Yes, many of our community of customers look to plan their future dream home because they’re excited to start their futures there. They want to create memories with future generations of loved ones and they see themselves there for decades to come. But there are other customers that we see that are building these homes as a planning tactic for future finances. It doesn’t mean that they care about the homes any less, but it does mean that they’re going to have a different view on the variables that matter. The biggest? Return on investment. Best way to start to gauge this? Most expensive areas in the surrounding areas to build and live. Luckily for you, the Australian Heritage Homes team is dedicated to info-sharing and today, we’re diving into a list of the most expensive areas around to live in.
Fun fact: Sydney is not only the most expensive city in the country, it’s ranked 11th in the world. Melbourne cracks the top twenty as well at 15th, with Perth slipping in at 19th. Another fun fact? Number one in the world is Tokyo, so count your blessings that you live where you do now.
That’s specific to those who are newer to the country and/or are looking to live in the most metropolitan areas. For those of us natives, let’s dive into different suburbs and neighborhoods. Heard of Tamarama? You may have seen or heard it referred to as Glamarama and for good reason. It’s the most expensive suburb around to buy property in and it’s only going to continue to be. Just over the last five years, the median house price has jumped more than 30%. That equates to an average of $3.8 million. If you’re unfamiliar with the area, you’re looking at Bronte to the south and Bondi to the north.
If you’re feeling slightly less posh, you can take advantage of Australia’s second most expensive area – Perth’s Peppermint Grove. Here the average homes cost only $3.4 million. Peppermint Grove runs along the Swan River and is well-known for the amazing services that it offers.
Coming it at number three is Vaucluse. Here, you only need to pay a paltry $2.9 million, but you will see the scenic views of both the Tasman Sea and the Sydney Harbor. Popular neighborhoods here include Watsons Bay, Rose Bay and Dover Heights.
We’ll only do top three today, but we know that we’ve piqued your interest as you shop on the Web for your dream home. Stay tuned for even more exciting (and expensive) areas of Australia to learn about. Questions? Comments? Give us a shout. The team at Australian Heritage Homes would love to hear from you.