Insights

Last week, Hodges’ Julian Augustini was featured in The Real Estate Conversation, commenting on the differences between the Melbourne Bayside and Sydney’s blue chip beachfront suburbs.

So for those going between the states, what is there exactly to think about?

Pricing

It is no secret that Sydney’s housing costs are significantly higher than that of Melbourne’s.

“The median price for a house in one of Sydney’s beachside suburbs can range from $1.5 million to $2.7 million while the median price ranges from $930,000 to $2 million in Melbourne,” Julian writes. Not only that, Melbourne’s rental prices are cheaper by 29.84% – a pro for renters, but an obvious con for investors.

However it’s not just the cost of housing that’s differs, but it is also the cost of living. Overall, consumer prices are 7.07% lower in Melbourne than in Sydney meaning that the local purchasing power of 1 AUD is higher in Melbourne.

Climate

While Melbourne may win in the pricing department, Sydney leads the way in the general climate. Sydney’s weather is broadly classed as “temperate” which means you can expect the heat to come with the summers and the chills to come with the winters. This is a complete contrast to Melbourne’s erratic weather, where locals are known to dress for four seasons in one day. For those who live along the bay, the climate is a great factor that owners have to take into account.

Culture

Depending on which particular beachside suburb you choose, the culture of each can vary. There are options for all in each city. From the suburbs for society’s elite or rich and famous, to the barefoot bohemian fare, both Melbourne and Sydney have suburbs that vary greatly. If surfing is a major influence in your life, perhaps the waves of Bondi call you. Or if the family friendly Bayside is more your speed, perhaps Melbourne has your perfect home. “But whatever it is about a city that appeals to us, it’s ultimately subjective. It depends on a range of factors, like our tastes, interests, age, socio-economic status, and more. One city will suit one person better than another. That congruence might even change with each new stage of life,” Julian writes.

Melbourne’s beachside suburbs aren’t better than Sydney’s or vice versa, they’re just “different”.

To read the full article, click here.