Sydney Most Affordable East Coast City For Liveability … Apparently

Yes, you read that correctly. Sydney has been declared the east coast’s most affordable city for liveability by PRD Real Estate.

Ignoring the fact that the Harbour City has an entry-level price of $1.2 million for a house within 20km of the CBD, PRD’s research argues that Sydney is indeed “the most affordable city for liveability.”

The firm’s reasoning boils down to Sydney having the greatest cost differential between premium and affordable dwellings in the same metropolitan area.

Residents can purchase a house in a liveable suburb for 87% less than the premium needed to purchase in Sydney Metro, well above the other eastern capitals.

PRD’s considerations for affordable and liveable suburbs include property trends, investment potential, affordability, project development, and liveability factors such as low crime rates, availability of amenities within a 5km radius (i.e. school, green spaces, public transport) and a steady unemployment rate.

According to PRD, Peakhurst in Sydney’s south came out on top for houses.

The suburb’s median house price for the first quarter was $1.2 million while units were among the most affordable at $685,000.

Melbourne Metro is the runner up at 42% less, and Brisbane third at 16% less.

Melbourne’s most affordable and liveable houses are found in Greenvale ($728,000), Bellfield ($800,000) and Mulgrave ($850,000).

Elsewhere, Melbourne’s most affordable units were found in Northcote ($595,000), Lower Plenty and Pascoe Vale (both $630,000)

Brisbane’s best performing suburbs included Springwood $530,000, followed by Rochedale South ($545,000) and Ferny Grove ($653,000).

Warner had the lowest-priced units in the Queensland capital with a median of $290,000, followed by Taigum ($320,000) and Coorparoo ($422,000).

A Mid-Century Modern home in Carmel, California, hit the market on Friday for just the third time in 70 years with a listing price of $4.25 million.

Located in the community of Carmel Highlands, the house is just steps from the coastline and comes with private beach access, according to the listing with Tim Allen of Coldwell Banker Realty in Northern California. Allen was not immediately available for comment.

The property last changed hands in 2010 when Hollywood screenwriter Richard Outten bought it for $990,000, public records show. Outten penned the screenplays for the 1992 movie “Pet Sematary Two” and the 1987 film “Lionheart,” and created the story for the 2012 “Journey to the Center of the Earth” sequel, “Journey 2: The Mysterious Island.” He was not immediately available for comment.

Built in 1953, the home’s mid-century charm has been preserved over the years while still being updated for modern living. Interior details include wood paneling, exposed-brick walls and beamed ceilings.

The single-level house has 1,785 square feet, which includes three bedrooms and two full bathrooms. Though not directly on the water, large windows flanking the adobe-brick, wood-burning fireplace look out at the ocean.

Sliding glass doors create a seamless flow between indoor and outdoor living. Outside, there’s a large patio surrounded by lush landscaping, and there are also meandering paths through sustainable succulent gardens, according to the listing.

In addition to its close proximity to the beach, the home is a 10-minute walk from downtown Carmel-by-the-Sea.

As of July, the median list price in Carmel is $3.1 million, up 8% from last year, even as active listings have increased 50% year over year, according to data from Realtor.com.

Sydney Most Affordable East Coast City For Liveability … Apparently

While the median house price is high, there are other factors at play.

Owned by Richard Outten, who’s penned screenplays for films including “Pet Sematary Two” and “Lionheart,” this is only the third time the home has been on the market