Artificial intelligence (AI) has revealed what a typical Australian household across the capital thinks is like. The results revealed a huge gap between the imagination of AI and the reality of Australia’s booming property market.
Midjourney, an AI program that creates realistic images based on user prompts, was asked by Money.com.au to create an image of a “typical” home in Australia’s capital cities based on median house prices. I did.
In Sydney, AI estimates that you can buy a huge harborside mansion with a pool for the average house price of $1.1 million. In fact, for that price, you’re more likely to get a more modest one-bedroom apartment in the city, or a single-car garage in Bondi.
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Money.com.au financial expert Sean Currie said AI had a “wild imagination” about what Australians thought they could buy at the median price in each capital city.
“AI tools are incredibly advanced in many ways, but a clear picture of Australian property prices is currently a bridge too far,” he said.
“The average buyer can only dream of purchasing these homes.”
sydney
In Australia’s most expensive city, AI estimates that a median home price of $1,095,000 could buy you a harborside mansion or a Victorian terraced house in an upmarket suburb like Glebe or Darlinghurst. Masu.
In reality, the mansion would probably cost more than $50 million, while the terrace would be closer to $3 million to $5 million.
AI believes you can get your hands on one of these luxury properties for a median price of $1.1 million. (Source: Midjourney)
If you have a budget of $1.1 million, you’re more likely to get a more modest one-bedroom unit in Sydney’s CBD, like this one.
In reality, a one-bedroom apartment like this one should be listed for $1,080,000. (Source: Realestate.com.au)
melbourne
AI believes that for the average price of $797,000 in Melbourne, you can get a waterfront property along the Yarra River or an Edwardian mansion in an upmarket suburb like Malvern or Camberwell.
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The riverfront mansion would actually probably cost $10 million, but Edwardian-style homes can cost closer to $2 million to $3 million, depending on location.
In Melbourne, we’re thinking of a house along the Yarra River or an Edwardian style house. (Source: Midjourney)
At the actual average price, homebuyers can afford homes like this three-bedroom brick house in Strathmore.
This Strathmore home is on the market for $790,000 to $840,000. (Source: Realestate.com.au)
brisbane
In the Sunshine State, AI expects to score a Queensland or Victorian terraced house for a median price of $854,000.
Prices for this type of property typically range between $2 million and $4 million depending on location, and similar properties are commonly found in suburbs such as Spring Hill, New Farm and Ascot.
Grand Queenslanders and giant Victorian terraced houses aren’t necessarily ‘typical’ for Brisbane people. (Source: Midjourney)
Using your median budget, you have a good chance of buying this 3-bedroom house in Oxley, 10 miles from the city.
Properties like this Oxley home, listed for $870,000, are in a more appropriate price range. (Source: Realestate.com.au)
adelaide
With the median property price in Adelaide being $768,000, AI dreams of scoring a Commonwealth-style home or Victorian villa.
Prices for this type of home, found in suburbs such as Tasmore and Fitzroy, will likely be in the $1 million to $3 million range.
Building a house like this in Adelaide will be much more expensive. (Source: Midjourney)
Located in Hillbank, 32 kilometers north of the CBD, this four-bedroom brick home is near the city’s median price range.
Listed for $740,000 to $819,000, this Hillbank home is more affordable. (Source: Realestate.com.au)
perspective
In Perth, the AI imagines a typical home, such as a luxurious Victorian mansion or a 20th century Edwardian mansion.
In reality, these properties are likely to be priced in the millions of dollars anywhere in Perth, far from the median price of $751,000.
AI has provided an interesting insight into the typical Adelaide household. (Source: Midjourney)
Keeping in mind the median price, you’ll have better luck buying this three-bedroom brick house in Victoria Park, 5 kilometers from the CBD.
Something like this Victoria Park home listed for $749,000 would be more realistic. (Source: Realestate.com.au)
darwin
At the top end, AI estimates that for a median home price of $509,000, you can get a modern stilt home or a waterfront home in Bayview or Cullen Bay.
In fact, siding will probably cost more than $600,000, while a waterfront home will cost more than $1 million.
These two homes in Darwin are definitely above the median price. (Source: Midjourney)
At Darwin’s median house price, you’re more likely to get a property like this four-bedroom semi-detached duplex in Malden, 25 kilometers from the CBD.
This duplex, listed for $499,000, is more typical. (Source: Realestate.com.au)
hobart
Finally, in Hobart, AI predicts that for a median price of $683,000, you can get an Edwardian mansion or clapboard cottage like those in Sandy Bay or Dinern.
If the mansion were authentic, it would probably fetch between $1 million and $3 million, while the cottage could go for around $800,000, depending on the area.
These historic homes were dreamed up by AI for Hobart. (Source: Midjourney)
In reality, you can buy a property like this three-bedroom brick house in Glenorchy, about 7km from the CBD, for the median price.
But this brick house, listed for $620,000, is more realistic. (Source: Realestate.com.au)
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