Sydney, Australia (PRWEB) February 08, 2013
While demand for housing properties have gone up since December 2009, MyRPData notes that housing affordability remains to be a big barrier towards ownership. But potential homebuyers have encouraging news headed their way as the leading online property resource recently revealed where relatively affordable housing options—even in Sydney, where the median house value in the most exclusive suburb reaches $7.3 million—can be found as shown by figures mined by RP Data.
While a majority of Australia’s cities have single detached homes with a median property value above $500,000, MyRPData finds that 47.9 percent of suburbs across all cities have a median house value of less that amount. In fact, 92.1% percent of Hobart’s suburbs reportedly have median house prices well under $500,000. Adelaide suburbs follow suit with 63.2 percent, Brisbane at 60.5 percent, and Melbourne at 44.9 percent. Additional reports from RP Data’s blog indicates that Brisbane’s median dwelling price is $406,000 while Adelaide’s is $371,500. Meanwhile, in spite of nabbing top honors for being the most expensive location for home ownership, 37 percent of Sydney’s suburbs have properties selling for less than $500,000.
Homebuyers interested in living in the most sought after suburbs are advised to consider property types other than single detached homes. MyRPData adds that more affordable options can be explored in the unit market as unit property prices reach as low as $300,000 — or less. Reportedly, 81.2 percent of suburbs across the combined capital cities have a median unit value of below $500,000. Not surprisingly perhaps, Hobart has the most number of suburbs with this price point, followed by Adelaide, Brisbane, and Darwin.
MyRPData is a leading provider of accurate property reports for thousands of agents and consumers. Together with its property information provider, RP Data, the company provides relevant numbers and facts that help investors and consumers make informed decisions about particular properties in particular suburbs. MyRPData is well-known and quoted by leading Australian dailies for its accurate information, data integrity, and comprehensive property database, allowing thousands of real estate agents, financial professionals, and valuers to take the guesswork out of real estate prices, and for consumers to determine the best locations for affordable properties.
Says MyRPData, “The average Australian household has as much as 70 percent of its accumulated wealth tied up in housing. So whether you're buying, selling or refinancing — it’s vital to ensure you have accurate information… We have over 100 million data records—far more than any other provider—and we add many million more every year. We're 100 percent committed to keeping our database growing. In fact, we spend more money on our data every year, than our competitors turn over in a year.”
For more real estate updates, market analyses, and accurate property value reports, visit MyRPData.com.au today.