Here at iBuildNew we like to support our customers with their new home journey, well beyond their initial enquiry with our phone consultants. Part of the iBuildNew service model is to touch base with our customers to make sure they’re progressing well with their new home building project. Being in close contact with our clients means that they are able to communicate any concerns or worries they may have about building. It is important that when starting a new home building journey, that you remain well informed about what to expect, so you can avoid any nasty surprises. Having a realistic and suitable budget for your new home will reduce stress and mean that you have all the information you need before you make any big decisions.
After speaking to thousands of people who are beginning their journey to a new home, we recognise that one of the biggest hurdles to starting a new home build is accessing adequate finance. And we hear you! With property prices skyrocketing over the last couple of years, it can be hard to keep up and adjust your budget accordingly. Although it feels as though moving into your dream home is unrealistic, there are many ways and suburbs where it is more affordable. You don’t have to shelve your idea, sometimes a different approach can help you achieve your dream.
If you are unsure where your dream home sits in relation to median house & land prices across the country, we have simplified the different prices for you.
Median house prices across Australia
Sydney
Sydney prices are often mentioned in the news, with prices growing unlike anything we have ever seen before. This has meant that purchasing property close to the CBD is simply out of reach for most Australians. Currently the median house price in Sydney is approximately $1.2 million. However, just because it might be impossible to get into a Sydney house, doesn’t mean that you can’t move into your dream house. Affordable properties are still available. Moving out of the Sydney CBD, can open many possibilities for you and your family.
A single storey home with 4 bedrooms & 2 bathrooms on 600-700 m2 land in Kellyville NSW, 41.5 km from the Sydney CBD is likely to cost you just over $1,000,000
However, only 10 km further out, 52 km from the Sydney CBD, you can purchase a similar property for half the price. So we believe that moving into your dream house isn’t impossible.
Melbourne
Melbourne is definitely cheaper than Sydney, but not far behind with property prices continuing to rise since the start of the year. Currently median house prices are sitting at around $840,000. Many suburbs of Melbourne are very attractive, with infrastructure and amenities extensively developed. A lot of opportunity lies in the Melbourne West, with house and land prices significantly lower.
A single storey home with 4 bedroom, 2 bathroom & 2 carports on 600m2 land in Ringwood, 27.6km from the Melbourne CBD, will cost you approximately $1,375,000.
Alternatively, a similar sized house on 400m2 of land located in Melbourne’s West & South East, around 30km from the Melbourne CBD will cost only $460,000. Cranbourne has a-lot to offer find out more about its great location.
Brisbane
The cost of house and land in Brisbane is much lower than what we are seeing in Sydney, however, there are still places where you can move that are much more affordable and might mean that you can get into your dream home sooner. Typically, the prices of Brisbane house and land is less dependent on distance from the CBD, and more dependent on the size of the house and land. If you are happy to move outside of the CBD, you can get house and land for under $450,000. This is extremely affordable for young families or couples. Logan isn’t normally the first suburb that comes to mind for new builds, but its very attractive to people on a budget.
A double storey home with 4 bedroom, 2 bathroom and 2 carports on approximately 600 m2 land in Stretton which is 30.5km from Brisbane CBD, would cost you almost $1million
Alternatively, you could purchase a house and land package of similar size in the Logan area for under $400,000
How Can iBuildNew Help?
At iBuildNew we understand the challenges that individuals face when buying a house. Many of our customers will approach us with the following questions and concerns:
- Are we making the right decision?
- Am I too far away from friends & family?
- Is work too far away?
- What kind of public transport will I be able to access?
- We don’t know this area and feel disconnected
We really understand these concerns and honestly believe we can provide solutions to help anyone buying a house move forward with confidence.
Whether you are buying your first home, investing, downsizing or upgrading, we are able to help you find the right builder, house & land package, land estate, house design or investment which will suit your lifestyle and budget. If you are interested in a low maintenance new home purchase, then iBuildNew can assist you with highly competitive house & land packages which are not available to the public. Make sure you call one of our expert consultants at iBuildNew on 1800 184 284 or book a call now.
Let us do the legwork for you.
- We’ll ask the right questions to better understand your needs
- We’ll create a recommended shortlist ideally matched to you
- We’ll answer specific questions or concerns related to home building, land purchasing or financing
Zoe Langenberg
Zoe is passionate about coffee and interior design. You can find her most weekends exploring an art gallery or devouring a good book.
1800 184 284
