IDK about US housing market, but considering how it's been going lately, and the fact that Australian housing is considered overpriced relative to the US, those prices sound quite a bit expensive.

Over here, there's plenty of student share houses, but you do have to live with others, typically a number of Asians in a small apartment (so many Asian students here).  Meh, if you share, you might get lucky and find some Jap girls that you love so much.