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What sort of house does $1 million Australian dollars buy you overseas?

September 21, 2021 Leave a Comment

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It’s often been said that Australia has some of the highest property prices in the world and the global pandemic doesn’t seemed to have affected that. In fact, most Australian cities have seen price increases over the last 18 months with many Aussies returning from overseas to our relatively safe shores. And given the current market, Ray White chief economist Nerida Consibee began to wonder whether you could find better value buying a house in one of your favourite holiday destinations.

Purchasing issues aside (some countries won’t allow foreign ownership at all, but many will), Australian banks typically aren’t keen on providing finance to offshore purchases of residential property. But assuming you’ve got cash (ha!), just what sort of house does $1 million Australian dollars buy you overseas?

“It’s hard to compare pricing at a global level, particularly given within a capital city or country, there can be significant variance in properties available. On a square metre basis, Turkey is the cheapest country to buy in, while Switzerland and Luxembourg are the most expensive. But in the United Kingdom, cities like London would have precincts that are potentially far more expensive than Switzerland,” says Nerida.

Given the difficulty in comparing prices, Nerida decided to look at some well-known global spots to see what you could purchase, compared to what you would get for the same money in a comparable spot in Australia. 

A one-bedroom apartment in a global city
The Australian dollar is currently rather weak – $AU1 million will only get you around $US715,000, £525,000 or €610,000. And while that exchange rate isn’t fabulous it is still enough to get you a one-bedroom, one-bathroom apartment in New York, London or Paris.

$AU1 million could buy you this New York apartment

Interestingly, this is similar to the median price for Australia’s most global city, Sydney, where $960,00 is the median value of an apartment. By contrast, a similar apartment in the Melbourne CBD is worth $460,000.

You could purchase this Sydney apartment for $AU1 million
You could purchase this Sydney apartment for around $AU1 million

A family home in one of the world’s most liveable cities
Every year The Economist releases a report on the world’s most liveable cities and Austin, Texas ranked highly this year. For $AU1 million, you can purchase a pretty nice house on a big block like the one pictured below. You can also buy a three-bedroom house in West End, one of Edinburgh’s best suburbs.

You could purchase this Austin, Texas home for around $AU1 million

In Australia, the same sort of money would buy you a house in a nice, beachside suburb in Adelaide – the Aussie spot that was recently ranked our most liveable city. You could also get a house in Footscray in Melbourne’s up and coming inner west.

This Adelaide home is in walking distance from the beach – it’s in Henley Beach which has just hit the $1 million dollar median price point

A beachside getaway
A beachside holiday home in Asia sounds rather lovely right now but you do need to look quite carefully at where you can buy – many Asian countries have strict conditions on foreign ownership. For example, Thailand will allow foreigners to own an apartment, but they are forbidden from owning freehold land. That said, AU$1 million would get you a luxury hillside villa in Thailand’s Phuket or something similar in Bali’s Canggu.

This Bali villa is currently listed for just over $AU1.1 million

The same money would get you into a beachside suburb in Australia, but you are unlikely to get a new luxury villa. For example, Pelican Waters on the Sunshine Coast recently hit that price point but you’re looking at something more akin to a beach shack.

A country mansion
Rural Europe represents very good value for money if you have a penchant for historic buildings. For $600,000 you could purchase a historic stone manor in the Auvergne region of France – complete with its own tower!

Incredibly, you could purchase this rural French home for $600,000 Australian dollars

By contrast, the same money will get you into the inland parts of northern New South Wales where Mullumbimby currently has a median price of $988,000. Close to Melbourne, Macedon recently just hit the $1 million median mark too.

This house is located in Mullumbimby which has just hit the the million dollar median mark

Check out the latest Australian properties for sale

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Armchair travel: Amy’s New York furniture & homewares picks
As old blue eyes said, New York really is the city that never sleeps. From the galleries and museums to the architecture, shopping and incredible food, it’s hard to get…

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The patient has very much bounced back! Letterbox The patient has very much bounced back!

Letterbox kinder egg deliveries from a friend, dressing changes without a flinch and refusing to nap despite all the bribes (check the face on him in pic 3!).

Thanks for all your care and messages/comments for this tired and shaken up mama! Now very relieved and grateful 🙏
Before & after It's not just the award winning de Before & after

It's not just the award winning designer houses that get us excited here. It's also the beloved family homes which are renovated and extended to make them fit for purpose so people can continue to live where they love 🤗

@inspiredspacesaus helped her clients with teenage kids transform this house in Sydney's Hills District inside and out, making it their forever home. 

Due to the nature of the block they could only extend sideways and then gave it street appeal with render, new windows and doors.

See inside on the blog now, via link in bio. It was completely overhauled!
Charlie doesn't recommend running head first into Charlie doesn't recommend running head first into tiled steps 🤕

Oh what a night. Thankfully Hornsby Hospital were as amazing as always and we avoided stitches. All taped and glued  back together and now to keep him calm for the next few days (🤪) and watch for signs of concussion. 

Bravest little patient ever. Yes I've had a 🍷

Funny how we go into super organised mama mode in times like these. Grabbed dinosaurs, textas and scrapbook on the way out in case we had a long wait!

UPDATE: thanks for all the love! Charlie is so well this morning after a big sleep!
Australian made bathroomware is seriously impressi Australian made bathroomware is seriously impressive!

The new @studio.xox ONLY sells Australian brands. Like @nood_co coloured basins, lead-free eco brass from @faucetstrommen and @lindseywherrett's  ceramic basins made by hand in Tassie.

And as for their Sydney showroom (they also sell online): WOW.

See and read more on the blog now via link in bio.

#interiorsaddict #theinteriorsaddict #jenbishop
#creatingbeautifulspaces #homestylingdesign
#designbywomen #homestylingtips #sydneycreatives
#homestylingsydney #interiorstyling #interiordesignsydney
#everydaydesign #interiortrends #renovationinspiration
#homedesigninspo #lovemyhome #stylingdetails
#loveinteriors #homeimprovements #interiordesignaustralia
#dreamhomeinspiration #homemakeover #personaldesign
#interiordesignaus #creatingbeautifulspaces
#creativehomes #housestyling #sydneyhomes
#interiorinspiration #myhomedesign
I'm THRILLED to be an ambassador for the brand new I'm THRILLED to be an ambassador for the brand new @madeinaustshow in Sydney this August.

🦘🐨Forget every tacky association you ever had about touristy Australian made and prepare to see a showcase of the best of home, lifestyle, fashion and beauty made right here. If the pandemic has made you appreciate buying local even more, this is for you.

It's the first business to business trade event connecting retailers with Australian made products to champion our local makers🙏

Apply to exhibit or find out more at their website, via their bio, now!

Are YOU buying more Australian made post covid?

#madeinaustralia #australianmade #aussiemade #aussiedesign
Do I recommend a timber vanity top? A big fat NOP Do I recommend a timber vanity top?

A big fat NOPE! 💧 

Which is why we have recently covered ours with a Caesarstone top (thanks to @justinplace_sydney for the advice and supply) and the sweet RELIEF of not having to worry about this high traffic area anymore, I'm telling you!🤗

Doesn't matter what they tell you or how many times it's sealed, I'm not sure it's a great idea in a room which is so, well, wet!

I love having the warmth of timber in the bathroom and it's a beautiful piece, but timber on the top? Never again.

Ours probably lasted a year (if that) before it started to go downhill (and we want a good decade out of a bathroom, right?!). 2.5 years on, everything else in this bathroom looks virtually brand new and the water marked vanity top was really letting the side down and making me sad!

But I'm so pleased with this solution, I have to say! Took the plumber less than an hour to remove the sink, install the top and connect the sink back up. We didn't need to move the tap and it isn't too close to the basin.

The kids are allowed to brush their teeth and wash their hands (liquid soap 🥴) in here again and I can leave my hair straightener on there with gay abandon 😆

The reflective surface (which I can clean with whatever I like!💪🏻) brightens the room up too!

Next week I'll tell you what I really think of my brass tile trim too 😉

#interiorsaddictbathroomreno2 #interiorsaddictfamilyhomereno #timbervanity
Is there a more decadent and delicious soup than F Is there a more decadent and delicious soup than French onion?

I think not!

Grab the recipe on the blog this morning via link in bio.
Get to know me! I haven't done one of these in YE Get to know me!

I haven't done one of these in YEARS so there's possibly thousands of you who don't know my back story. Here's a few things you may not know about me!

✔️ I'm English 🏴󠁧󠁢󠁥󠁮󠁧󠁿 and I moved here (just for one year) back in 2008😆 

✔️ I can't end the day without a bath, even if I get home really late or on a really hot day. It's a mental health thing and my happy place. 🛁 

✔️ Before becoming a blogger and running my own small business, I was a journalist from the age of 18. My favourite news gathering times were as a newspaper crime reporter (bit different to interiors!) 📓 

✔️ I once worked at New Scotland Yard in London 🚔 

✔️I had an interview at Oxford (didn't get in!) but chose not to go to uni at all after being offered a job on the local paper #universityoflife 😁

✔️ My mum died when I was 3, I have an excellent dad and one sister (younger) in the UK ❤️ 🇬🇧 

✔️ At school, my favourite subject was French 🇫🇷 and I was head girl 🤓🤓

✔️ I'm addicted to ☕️ , long hot baths and💄 (been wearing it since I was about 14!)

✔️ I'm not a phonecall person and will never ever pick up an unknown number. Ever. They can leave a message 😁

✔️ My favourite cuisine is Japanese 🍣 🍜 and Damian and I honeymooned in Tokyo and Venice 

✔️ I have zero design qualifications. I just started blogging about my passion, which is trying to persuade everyone to #heartyourhome That was 11 years ago...

✔️ My favourite tipple is a good GnT or🍷 

✔️ Cheesy as it sounds, 💁‍♀️being a mum is my absolute biggest joy in life 🧒👦

✔️ I will never give up my old school paper diary! Has to be A5 and week to view 📖 

✔️ My official surname isn't Bishop. I kept my maiden name for work after I got married but changed it for everything else. Often confuse myself!

✔️ I didn't get my Ps until I was 37 and I'm still a terrible parker 😯 🅿️

Hope you feel like you know me a bit better 😘

📸 @vanlowvanlow
Blue, green or lilac? 🎨 @nood_co coloured con Blue, green or lilac? 🎨 

@nood_co coloured concrete basins is a great Aussie business success story. Although co founder Matt Di Costa first found fame as one half of Matt and Kim on The Block, he hasn't relied on this to build his brand.

“We are very honoured to have been a part of The Block, and all they have done for us. I am, however, a believer in letting the product take centre stage,” he says.

Read our interview with Matt via link in bio now.

🙏Share your favourite colour basin in the comments!

#colouredconcrete #noodco #colouredbasin #blockheads #the block #bathroomtrends2022

Pic 1 by @naibudesign_ and 2 by @twostyleinteriors
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Amy Collins Walker

About Amy Collins Walker

Amy is our regular feature writer, an experienced journalist and interior stylist living in Perth, Western Australia. Find out more about her styling work at http://www.amycollinswalker.com/

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