[ad_1]
Australia is one of the preferred destinations for South African emigrants, but its property market is renowned for being extremely expensive.
According to the latest statistics from the Australian Bureau of Statistics (ABS), 189,207 residents in Australia listed South Africa as their home destination.
With its warm climate, use of English, improved safety levels, and similar cultures, Australia is an attractive destination for many South Africans.
Natalie Lotter, Engineering Recruiter at the REDi Holbourne Group, said that many qualified engineers around the age of 30-45 are looking to work internationally, with Australia seen as a desirable location.
Lotter said that these engineers are leaving South Africa for future security, better pay and greater work opportunities.
Moreover, according to the ABS’s stats, across the over 115,000 dwellings in which South Africans live, the average monthly mortgage repayment is a substantial $2,200 (R27,000).
With this in mind, BusinessTech has decided to look at the average prices of properties in South Africa vs. Australia.
The ABS previously released the most popular suburbs for South Africans living in Australia with the following population breakdowns:
- New South Wales, St Ives – 1,310
- Western Australia, Baldivis – 1,029
- Victoria, Point Cook – 950
- Queensland, North Lakes – 822
- South Australia, Hallett Cove – 270
- Tasmania, Kingston – 127
- Australian Central Territory, Nicholls – 85
- Northern Territory, Darwin City – 39
Thus, we have decided to look at the average house price in the top three suburbs in Australia with a corresponding property in South Africa.
The South African examples in the comparison have also been boosted by the weakness of the rand, which currently stands at R12.33/AUD.
St Ives, New South Wales vs Cape Town, Western Cape
Average house price in the St Ives: $1,150,400 (R14,180,000).
- 2 bedroom apartment in St Ives, New South Wales
- Price: $950,000 (R11.7 million) – $1,040,000 (R12.8 million)
Baldivis, Western Australia vs. Johannesburg, Gauteng
Average house price in the Baldivis: $651,700 (R8,000,000)
- 4 bedroom house in Baldivis, Western Australia
- Price: Above $599,000 (R7,400,000+)
- 6 bedroom house in Houghton, Johannesburg
- Price: R6,900,000
Point Cook, Victoria vs Stellenbosch, Western Cape
Average house price in Point Cook: $898,300 (R11,070,000)
- 4 bedroom house in Point Cook, Australia
- Price: $895,000 to $945,000
- 7 bedroom house in Stellenbosch Central, Western Cape
- Price: R10,500,000
Read: R100 million houses in South Africa – this is what a life of luxury looks like
[ad_2]
Source link