House hunting in Australia - what can you expect to buy?

Moving to Australia and finding a new home complete with swimming pool, large free-flowing interiors and a BBQ area for many is the ultimate property dream. As in all other parts of the world, where you want to live will determine the size and style of your home. It will also determine the price.

Australia is not a cheap place to call home. In fact, its been listed as the third most expensive country in the world. See here for more details. Prices clearly differ across the country but if you are hoping to move into one of the major cities, such as Sydney, Melbourne, Brisbane, Adelaide, Perth or Canberra than you can expect to pay premium rates. Sydney is the most expensive city in the country, and prices continue to rise – up 13% year-on-year. Other cities including, Melbourne, was up 4.7%, Brisbane, 3.9% and Adelaide, 2.5%.

Expect to pay a median price of $752,000 in Sydney, $569,000 in Melbourne and $549,900 in Canberra. Other city house prices can be found here.

Australia has strict rules on migrants buying homes and it’s not as simple as some might hope. In most cases migrants need to approach the Foreign Investment Review Board (FIRB) and apply for permission to buy a property. They have very clear criteria for who can buy houses, what kinds of homes they can purchase and guidelines surrounding application. More information can be found here.

Once you have approval you’ll need to start searching for that house. Many searches can be done online and websites such as Real Estate, Real Estate View and Domain are the most popular.

You’ll find a vast array of different styles in Australia. Large open-planned houses with back-yards, swimming pools and air-conditioning are of course popular choices and apartment living is also on-trend in the larger, vibrant cities. The ‘Queenslander’ represents the style many associate with Australia, and are raised off the ground (particularly useful in flood areas). Others include Californian style bungalows, Edwardian brick or weatherboard houses and of course, those that are more contemporary in design. Whether your house has seaview is down to your budget.

Typically a house sale can take as little as six weeks. Mortgages can be obtained through most Australian banks, which have migrant specialists. You’ll be expected to pay at least a 20% deposit and will need to put aside fees to cover the house purchase.

There are a few different ways to buy a home in Australia. Once choice would be to get a buyer’s agent who will find, negotiate and complete the house sale. To find a reputable agent visit REBAA. If you make an offer on a property, you will get a short cooling off period, although contractually the house is yours and you’ll need to secure its purchase by paying a deposit. Alternatively, an auction is a popular choice for many Australians. Before bidding at an auction you’ll need to check whether you need to be registered. In some states it is a requirement and helps stop ‘dummy’ bidders pushing up auction prices. A successful bid will mean the signing of contracts, which are then legally binding. There’s no cooling off period, so make your choices wisely. The HSBC Bank Australia has some helpful auction tips here.

If you are considering a move to Australia PSS International removals can help. We are a family run company and our desire is to ensure your family receives a friendly, professional and stress free overseas move. We have specialised in international removals for over 32 years, so whether you are planning on sending a full or part household removal, excess baggage or a vehicle we recognise the importance of ensuring our customers receive the same level of care and attention that we would expect ourselves.