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House prices in Australia have been sliding for the best part of 2008, but at the time of writing they are not seeing the steep decline in value seen in the USA or UK property markets. Even so, property in Australia is not cheap. Expect to get very little change from AUD $500,000 for a typical modern apartment with access to shared amenities in any of Australia's inner cities, while in more rural areas where the supply and demand balance is more in favour of the buyer you can expect to pick up a large family-sized house with swimming pool and several acres of land. Have a look at this comparison of property in Australia with asking prices in the AUD $500,000 range.
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