Posts

What $500,000 can buy you in the 2017 property market

Thanks to constant news coverage about rising population numbers, employment, and therefore housing affordability, the property market seems less accessible than ever. Investors are asking themselves what they can buy for half a million, so we’ve compiled a short list. One home for each state around Australia.

 

  • Queensland

14 Macquarie Street, Teneriffe

Offers over $450,000

2 bed, 2 bath, 1 garage

This apartment is in the trendy suburb of Teneriffe. It comes with river views, easy access to the city, and a host of gyms, shops, and restaurants. Similar properties are around the same price, going up to as high as $2 million.

 

  • New South Wales

74 Tucklan Street, Dunedoo

$195,000

4 bed, 2 bath

This home is in the rural village of Dunedoo, 100kms from Dubbo. It’s on the market as a ‘recently renovated property’ though new owners can modernise it as they like. This is a steal in today’s property market, and has the potential to be a home for holiday tenants.

 

  • Victoria

59A Vale Street, Alfredton

3 bed, 2 bath, double garage

$349,000

Not bad for a Ballarat townhouse. This home, only three years old, is good for those investors looking at homes for empty-nesters and downsizers. There’s a small backyard area and spacious bedrooms inside. The townhouse is close to shops and schools for small families.

 

 

  • Tasmania

5-7 Doric Court, Zeehan

3 bed, 1 bath, single car

$125,000

Investors looking for a small family home on the property market would snap this up for a minimal amount. Zeehan is a small town of less than 800 and the house is down the road from the local school. It’s marketed as having a double block of land, new external Colorbond, and a rumpus. The interior is quite dated, making it a prime candidate for renovation.

 

  • South Australia

503 Fullarton Road, Highgate

2 bed, 2 bath, garage

$495,000

Just within the $500k budget, this stunning house is a rarity. On the outside, it looks like a grand home, a mansion, even. When really, it was renovated to work as an apartment block with three units. The exterior keeps its Mediterranean style character from when it was built in the 1930s, but the interior is totally modern, complete with an elevator. This is definitely a steal in the 2017 property market.

 

  • Western Australia

26 Collins Street, Kalgoorlie

3 bed, 2 bath, garage

$265,000

You can spend just over half your budget and get a lot back in return in WA. This cottage was built in 1927 and leaves investors some room to redecorate, so you can claim depreciation on any new fixtures you install. There’s a large amount of exterior space, perfect for tenants with pets and children.

 

  • Northern Territory

9 Dowling Street, Katherine

2 bed, 2 bath, garage, pool

$340,000

Getting a home with a pool for less than $500,000 is a miracle, but it can be done if you’re looking at the property market in the Northern Territory. This home recently underwent a massive renovation that included the installation of the pool. Located in Katherine South, the home is close to the library, the public hot springs, and national parkland, making it good for family/tourist tenants.

 

We wrote these too, if you want more:

  1. Behave like a 1% property investor with these tips
  2. 5 types of property investor