What $1 million can buy you around Australia

For the first time in history, Australia’s median house price across all eight capital cities has exceeded $1 million.

As of the end of December 2021, buyers who purchased houses last year forked out an average of $1,066,133.

It’s a daunting figure, especially for new home buyers, young families … or just about anyone who doesn’t have a large accumulation of bitcoin.

More off-putting still is that, depending on the capital city, $1,066,133 doesn’t buy you a whole lot.

But, away from bustling CBDs and gridlock traffic jams, the seven-figure sum can still secure a very decent home.

Here are five examples:

294 Port Douglas Road, Port Douglas, QLD

Under Offer

294 Port Douglas Road, Port Douglas QLD 4877

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Located near the very top of Queensland in one of the most tropical locales in the nation, this gorgeous home in Port Douglas looks like a compelling proposition for $1 million.

Styled like a resort and aptly named ‘The Coconut Hut’, this laidback residence offers a shedload of features for the money.

Aside from an arresting aesthetic both inside and out, the five-bedroom, two-bathroom home sits on 817-square-metres and boasts a large lagoon pool, two standalone Balinese-inspired, single-room huts, and a fantastic indoor/outdoor entertaining area.

16 West Street, Echunga, SA

Expressions of Interest

16 West Street, Echunga SA 5153

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Set in the picturesque township of Echunga in the Adelaide Hills, 16 West Street presents as a stunning piece of design.

Having previously been featured on the cover of Australian Country magazine, this former barn, built in the 1890s, has been converted into a truly unique property.

With a striking black facade that clues passers-by into the rustic, eclectic design within, the four-bedroom, three-bathroom home really does run a clinic in interior styling.

Every room in this home is inimitable and benefits from an almost overflowing menagerie of ornamental decoration.

And with vaulted ceilings, a sizeable pool and modern conveniences like polished concrete floors and a new six-burner gas cooktop, this one-of-kind home looks like great value around the $1 million price mark.

48 Main Street, St Marys, TAS 

Expressions of Interest

48 Main Street, St Marys TAS 7215

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Situated in the historic town of Saint Marys, close to the coast in Tasmania’s northeast, this property seems like a certifiable bargain for $1 million.

Yes, for seven big ones, you could buy a whole pub.

Built in 1910, Saint Marys Hotel is, understandably, an important building in the bucolic burgh, servicing the community and its many tourists with food, liquid sustenance and a place for weary travellers to rest their heads.

Offering 15 accommodation rooms, as well as a professional kitchen, fully functional bar and a number of function rooms and dining areas, 48 Main Street is a turnkey business and lifestyle proposition that’s hard to beat.

125 Thompson St, Scotland Island, NSW

$990,000 to 1,089,000

125 Thompson St, Scotland Island NSW 2105

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Blending seamlessly with its rainforest surroundings, this quaint timber cottage, sitting tall amongst the trees in beautiful Scotland Island in New South Wales’ north, definitely offers some bang for buck.

For $1 million, the two-bedroom, two-bathroom home at 125 Thompson Street is also well below Sydney’s ginormous median house price of $1,601,467.

However, in spite of its relative affordability, this residence is nicely kitted out with a modern kitchen, a large master bedroom with ensuite and a generous deck that gives occupants a great view of the home’s natural surroundings.

6/2-4 Barton Court, Aireys Inlet, VIC

SOLD - $860,000

6/2-4 Barton Court, Aireys Inlet VIC 3231

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Just minutes away from Victoria’s iconic, world-famous Great Ocean Road, this two-bedroom, one-bathroom home in Aireys Inlet is a unique offering for potential buyers looking to get the most out of $1 million.

Set within the well-liked Aireys Inlet Getaway resort, this property benefits from a freehold title and could be the perfect beach house, seachange abode or holiday rental.

Aside from the decent 264-square-metre block, benefits of the coastal house include modern appliances, split-system air conditioning and access to the resort’s many features such as the pool, tennis court and barbequing area.