Monday, November 29, 2021
International

Australia property costs may deter UK expats from relocating

Australia property

When it comes to state capitals, Sydney is the most expensive while Hobart is the most affordable, says expert

For many British people seeking warm weather and stunning scenery, relocating to Australia is a dream come true.

Expats seeking affordable housing in Australia may be disappointed, according to Christopher Nye of Australia Property Guides. However, there are a few regions that are less expensive for Britons.

For younger British people seeking a bit more space, nicer weather, and a more outdoorsy culture than the UK to raise a family, Australia has always been a fascinating option, Christopher added.

However, they may be disappointed if they expect to discover affordable family houses, he said. The average price of an Australian house is now about A$1 million (over £500,000), up 3.5 percent in September 2021 alone, with flats exceeding A$609,000 (£330,000).

Higher property prices may deter some British expats from relocating to Australia.

Of course, you may still locate discounts, fixer-uppers, or more cheap places, Christopher said.

When it comes to state capitals, Sydney is the most expensive while Hobart is the most affordable, he said.

Tasmania’s capital, Hobart, is a small island state off the coast of southern Australia.

Traditional British choices, Perth and Adelaide, are quite inexpensive at half the price of Sydney, with Melbourne sandwiched between the two, Christopher added.

Many Britons who opt to relocate to Perth, Western Australia, already have friends or relatives there.

If you’re a permanent legal resident of Australia, you may buy just like an Australian, with no limits, Christopher explained. However, we’ve discovered that there are a lot of British buyers who don’t want to take up residency.

He said: These individuals, as well as investors, will need to obtain FIRB (Foreign Investment Review Board) permission, and they will be confined to select new-build homes.

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