Cheapest Australian cities for home renovations
Where in Australia could you see the biggest profit from flipping houses? Find out below…
Melbourne comes in first place, with homes averaging at AU$752,777. With residents spending around AU$120.04 every quarter on home improvements, there are lots of opportunities to flip your home and sell it for a profit.
Not only that, but Melbourne has the most hardware stores, at 481, alongside the highest number of construction workers per 1,000 people, at 54.26; meaning whether you want to do it yourself or get someone else to sort it for you, you’ve got plenty of options.
In second place is Brisbane, with the average resident spending AU$101.74 on home improvements every three months. With 440 hardware stores located across the region, there’s a lot of opportunities to shop around; and with Brisbane’s properties valuing at an average of AU$707,658, some home improvements here and there should see you make a decent profit.
House prices are amongst the most affordable in the country, with properties in Perth averaging at AU$560,902. So, if you’re looking for your first property to flip, Western Australia’s capital could be the ideal option.
Residents in this area spend the least on home improvements compared to the rest of the country, at an average of AU$51.85, which suggests one of two things: either a lot of houses aren’t modernised, or the cost of updating your home is cheaper than average. Either way, you could be onto a real winner if you want to do up a house here.
Wages for construction workers are the second lowest in the country, at an average of AU$1,622.90 a week, and with 45.56 employees for every 1,000 people, you’ll be spoilt for choice when looking to hire a construction worker at an affordable price.
Not only that, but Adelaide is home to the third cheapest properties on average, with properties valuing at around AU$649,041.
Hobart rounds off our top five cheapest cities for home improvements, with the cost of the average property in the city standing at AU$673,333.
Residents spend the second lowest amount on home improvements, at around AU$64.58 per quarter – perhaps because there are more limited options to try out DIY, with just 67 hardware stores across the state.
Saying that, hiring construction workers is extremely affordable here, with average weekly wages coming in at around AU$1,568.50, so if you’re wanting to flip a home in the Tasmanian capital, hiring an expert may be the answer.
Sydney comes in sixth place, scoring lower because its houses are the most expensive, with Sydney properties valuing at an average of AU$1,009,428. Darwin comes in seventh place, with the cheapest properties on our list, at just AU$506,710 on average showing a huge opportunity to make some money. However, it has the fewest number of hardware stores at 30, alongside the smallest proportion of construction workers per 1,000 people, at 43.25.
Coming in last place is Canberra, with house prices the second most expensive on our list, at an average value of AU$846,993, alongside the highest average weekly wages of construction workers, at AU$1,983.70, meaning you’re less likely to make a profit.