Adelaide has long been known as one of Australia’s cheapest cities in terms of purchasing homes, especially in comparison to other capital cities such as Sydney and Melbourne.
Adelaide has only seven suburbs with house median prices over one million dollars in comparison with Melbourne which has 42 and Sydney which has 200.
Not only are Adelaide’s house median prices reasonable, houses within the one million dollar range can also provide buyers with home options within or close to the CBD. In the Adelaide CBD, one million dollars can buy a renovated three-bedroom apartment, townhouse or terrace on 200 to 300 square metres of land.
However, in Melbourne one million dollars would get a buyer a somewhat unattractive three-bedroom house in the inner west suburbs.
In Sydney you’d be looking at properties that are at least 15 kilometres away from the CBD and the house itself would most likely need some renovation work done.