An Australian Real Estate "Peek" from a Local Traveler (1989)

by Jeffrey Bingham Mead
Westchester Realtor, Official Publication of Westchester County (NY) Board of Realtors
Vol. 20, No. 4. April, 1989.

As real estate experts keep a sharp eye on the metropolitan area market – including the always closely-watched Westchester (NY) region – a look at foreign markets can prove to be both interesting and informative.

Australia is a clear example. According to those I encountered during a recent trip to the area, more than 81% of the country's citizens owned the houses they live in. Real estate, though not always a bargain in recent days, is affordable for a large segment of the population.

Ironically, the "American Dream" seems closer there than in regions of the United States.

Most of my trip was spent on the Australian Gold Coast and the Queensland bush country outside of Brisbane. The Gold Coast is presently experiencing the fastest growth in real estate development, especially around Surfer's Paradise. The latter region has become known as the playground of the South Pacific.

The area is paradise. Several townhouses and private home developments are available. Condominiums and single-family homes overlooking the Pacific offer a tempting lifestyle.

At Burleigh Heads, I found 2-3 bedroom luxury low rises with tennis courts, two large swimming pools, spa, barbecue areas near beaches, shopping malls and restaurants. National parks are close by.

The price? $112,600.

In comparison, the Timber Top Terraces, a development of 59 prestigious townhouses, start at $137,500.

Further inland and scattered around the landscape are many styles of housing. If breathing space is yours thing, residences can be found in the area for $120,000. A farmlet on 11 stunning acres in Western Australia – where property is said to be the least expensive in the land – offers a home near the shore for $84,000. From a commercial standpoint a general store can be yours for $85,000.

Whatever your choice, Australia is a very friendly land and truly lives up to the "Land of Oz" billing which locals love to label it. And from a real estate point of view, the opportunities are most certainly there.

Editors note: Jeffrey Bingham Mead is a freelance writer whose work has appeared in the Greenwich (Connecticut) Time and other local publications. He recently spent several weeks in Australia.