{"id":705237,"date":"2023-07-22T17:00:00","date_gmt":"2023-07-22T15:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=705237"},"modified":"2023-07-22T17:11:08","modified_gmt":"2023-07-22T15:11:08","slug":"how-much-it-costs-to-live-in-australias-top-hotspot-suburbs-for-south-africans","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/705237\/how-much-it-costs-to-live-in-australias-top-hotspot-suburbs-for-south-africans\/","title":{"rendered":"How much it costs to live in Australia’s top suburbs for South Africans"},"content":{"rendered":"\n

South Africans moving to Australia are congregating in coastal territories and paying millions of rands for homes.<\/p>\n\n\n\n

The Australian Bureau of Statistics<\/a> (ABS) said that over the first quarter of 2023, Australia’s residential property dwellings increased by 52,000 to a whopping 11,020,300. Furthermore, the mean price of residential homes rose by $8,500 to $896,000 this quarter.<\/p>\n\n\n\n

ABS provided the mean dwelling price in certain states and territories across the country with updated figures for the first quarter of 2023.<\/p>\n\n\n\n

At the time of writing, one Australian dollar is equivalent to R12.13 (19 July 2023).<\/p>\n\n\n\n

According to the bureau, New South Wales boasts the highest price at $1,150,400, roughly R13.9 million.<\/p>\n\n\n\n

The eastern states are then followed by the Australian Capital Territory, $951,800 (R11.54 million), and Victoria, $898,300 (R10.89 million). The bureau reported the lowest mean price is in the Northern Territory, $502,100 (R6 million).<\/p>\n\n\n\n

As previously reported by the ABS, South African demographics are primarily located in eight suburbs across the country with the following breakdown in terms of population:<\/p>\n\n\n\n