Why are houses so cheap in Victoria?

Question

well, compared to nsw.

Answer 1

In the last twenty years, New South Wales (just Sydney, really) have been hosting a real estate bubble based on speculators. The speculators have been heavily favoring Sydney.

Answer 2

I wouldn't call it cheap at all.  It all depends where in Melb you are looking though.  My father recently bought a 2 bedroom one bath victorian townhouse in the prahran area, it needs renovations etc and he still paid 500 000 for it.  Not what I would call cheap, especially considering it needs renovations to reach it's true potential

Answer 3

Whats cheap? but I know what you mean, I still cannot understand why its more expensive to live in  house in the biggest populated, polluted, congested areas? I understand if people work in the Cities its closer etc but still I think that the further out you live the more expensive it should be not the other way round. I have three acres with a huge house, four bedrooms, two bathrooms, two 30x20 ft garages, 20mtr x 6mtr Veranda, Carport to cover 7 cars, landscaping with palms enough room to ride motorbikes or have a hobby farm etc and I am 30kms out of the City yet my property is cheaper than a 2 bedroom unit in the city, it makes me laugh, are people stupid or what ? I have peace and space, City people have noise, pollution, no room etc , yet their propertiy values are higher, its a joke.  

Answer 4

It's only cheap if you move to crappy area's. If you go somewhere in Melbourne (Probably the only place worth going in Victoria), its not that cheap. But if you are looking to live there, then lucky you?  

Answer 5

Because Victoria has bad beer

haha

nah just the market is more wanted in NSW and Brisbane too