In the Aussie housing market today, not all one million dollar properties are created equal, with some stark differences between Australia’s biggest cities.
In some cities, a $1 million dollar price tag would buy you a small apartment, while the same $1 million could get you your own mansion/five-bedroomed house elsewhere.
Here is what you can expect to buy.
In Sydney, buyers can expect to fork out $1 million for a small one bedroom apartment just outside the city centre.
For example, this small one bedroom property – which sold for precisely $1 million in March this year – has one compact on-suite bathroom, a tiny 2mx3.3m kitchen and a compact living are of 5.1x5.9m, but it does have the added bonus of views over the CBD skyline and one security car space.
Located in Darling Point – opposite Edgecliff train station – the apartment is 4km east of the CBD and approximately seven minutes away by train to Town Hall station.
For the same $1 million price tag in Melbourne, buyers can expect to get something similar to the Sydney property, but with an extra bedroom, also close to the city centre.
This two-bedroom, two-bathroom 2nd floor apartment in South Melbourne, for example, is located near the Royal Botanical Gardens and Albert Park just 15 minutes by tram to Central.
The living area is still pretty compact at 5.4x5.9m and the kitchen is, again, tiny, but it has a free standing bathroom plus an en-suite, its own laundry area and a car space.
Meanwhile in Brisbane, property shoppers can pay the same amount of money for a three bedroom apartment just 10 minutes from the CBD.
This rather grand and modern three-bedroom apartment has hugely high ceilings, two car spaces, two bathrooms, and its own balcony with city views.
Located in Teneriffe, the river boardwalk is across the road and a short walk to the nearby Plaza and city hub.
Go househunting in Perth and property buyers can expect to get a lot of bang for their buck.
Instead of a matchbox apartment, this type of pricetag is more likely to fetch you an option between a two-story house near the city, or even a beachfront cottage in the South West.
Only 9 minutes from Perth CBD in the fashionable Leederville, this big three bedroom, one bathroom and two car space house recently sold for $1 million.
Not only has it got ample inside space, with a separate dining area, a big kitchen, a deck and its own powered shed, the back garden is huge – total land size for the property is 582sqm.
Over in Adelaide, lucky buyers can get even more space for their $1 million, such as a four bedroom house, again only 10 minutes outside of the CBD.
New owners of this Mile End-located four bedroom villa paid only $1 million in January this year, a steal for a property on a land size of 1062sqm.
Aside from its four bedrooms, the villa also has a dining room, lounge, large kitchen, laundry, two verandas, carport, double garage, shed and a garden.