Bungo Posted June 2, 2015 Share Posted June 2, 2015 8 years out here I take it, and no children for 6 of those 8 years? 8 years ago property was a lot cheaper. Even 6 years ago it was a lot cheaper, so why now make a fuss about not being able to afford to buy? I may be reading your post incorrectly, but if I am correct in my assumptions, what was stopping you buying years ago?We have friends who, like JockinTas, bought when interest rates were around the 15% mark, but just got on with it. I really hope that you can make a go of it, but your words make me think that you have given up already. Well OP hasn't gone over their life story, perhaps the point is simply that for whatever reason, they were not able to get onto the property ladder. We were the same, didn't manage to get onto the preoperty ladder, not making a fuss about it, it just was that way. Link to comment Share on other sites More sharing options...
Guest Jeffers Posted June 2, 2015 Share Posted June 2, 2015 Melbourne is truly awful imho. A few years there was more than enough! Link to comment Share on other sites More sharing options...
Jacaranda Posted June 2, 2015 Share Posted June 2, 2015 Welcome Jeffers to PIO!Why do you think Melbourne was awful? Link to comment Share on other sites More sharing options...
sean83 Posted June 3, 2015 Share Posted June 3, 2015 $2781.00 a month for rent, wow! you're better of moving to one of the smaller towns outside Melbourne like Traralgon, much cheaper rent. Link to comment Share on other sites More sharing options...
duffer34 Posted June 4, 2015 Author Share Posted June 4, 2015 Made the decision today back to the uk resignation in and getting ready to leave at end of year. Im not one of these bitter aussie haters i love it here but its an economic decision and for the best plus hopefully some winter ski holidays in the uk Link to comment Share on other sites More sharing options...
bristolman Posted June 4, 2015 Share Posted June 4, 2015 Made the decision today back to the uk resignation in and getting ready to leave at end of year. Im not one of these bitter aussie haters i love it here but its an economic decision and for the best plus hopefully some winter ski holidays in the uk I hope it works out for you, it does for most of us returnees. Australia is an expensive place, there is no doubt about that. I miss many things but not the expense. Good luck. Link to comment Share on other sites More sharing options...
Quinkla Posted June 4, 2015 Share Posted June 4, 2015 Best of luck - give my love to Scotland. Link to comment Share on other sites More sharing options...
craigyboy Posted June 6, 2015 Share Posted June 6, 2015 Yep rat race sums it up !!! I am head of property for a FTSE 250 listed group living and working in Melbourne. I have been in property for 13 years plus both on client side and developer side. You need a brain transplant if you are buying in this market and thinking it would be a wise decision. Do me a favour work out if you could still afford your mortgage if interest rates went to 8 percent if you can't then don't - mortgages are for 20 -35 years if u think they won't go up then u need to wake up. 40 percent of new mortgages are interest only basically that means 40 of people have bought properties they can't afford. Been there done that pre GFC in the uk and lost 60k plus but everyone said u need to buy as it will always rise and there is lack of supply. Would have better putting all my money on the roulette table and praying for red. Watch this space things will change and if they don't I will happily retract my commentary and admit I am the stupid oneGot to agree with this quote. I'm a development surveyor and working every day with the market here. It's the fundamental that are wrong, you have places like the Gold Coast,no real industry but extremely high house prices. There is supply, but with no significant wage increases, but again house price inflation is rampant. Chinese money isn't going to last forever. Personally I believe a lot of the house price inflation is being fuelled by negative gearing benefiting the baby boomer and SIPS fortunate investors. Link to comment Share on other sites More sharing options...
Chortlepuss Posted June 6, 2015 Share Posted June 6, 2015 Got to agree with this quote. I'm a development surveyor and working every day with the market here. It's the fundamental that are wrong, you have places like the Gold Coast,no real industry but extremely high house prices. There is supply, but with no significant wage increases, but again house price inflation is rampant. Chinese money isn't going to last forever. Personally I believe a lot of the house price inflation is being fuelled by negative gearing benefiting the baby boomer and SIPS fortunate investors. So much is being built in my area for investors - all targeted at negative gearing - I wish they would start building proper homes again instead of nasty town homes with sky high body corp or units... BTW Craigyboy - I've been dying to ask a surveyor this - They are building on the flood plain at the end of my road. One plot was full of water (really deep) from recent heavy rainfall. Then one day they got a load of earth and filled in the pond, flattened the earth and compacted it. These are building plots - Would all that water be absorbed by the earth or do you think the plot would slump over time? Link to comment Share on other sites More sharing options...
starlight7 Posted June 6, 2015 Share Posted June 6, 2015 Got to agree with this quote. I'm a development surveyor and working every day with the market here. It's the fundamental that are wrong, you have places like the Gold Coast,no real industry but extremely high house prices. There is supply, but with no significant wage increases, but again house price inflation is rampant. Chinese money isn't going to last forever. Personally I believe a lot of the house price inflation is being fuelled by negative gearing benefiting the baby boomer and SIPS fortunate investors. They should stop the negative gearing immediately- we would get a lot of cheap properties hitting the market if they did that. Link to comment Share on other sites More sharing options...
kiwiathome Posted June 6, 2015 Share Posted June 6, 2015 I think I disagreed with you on another thread, but will soooo agree with this! We have bought and sold many times in Aus. We do do up houses! But never to the expense of safety or dishonesty. I feel like putting the gold coast and sunshine coast into the same sentence with safety and dishonesty! I just don't get building on flood plains. And out of principal hubby and I have become monsters, because we have denied our children the cheap theme park gold tickets anymore! It is just sooooo expensive for the tackiness you get. I have given up ever trying to find good accommodation in the gold coast anymore for a reasonable price. What you get offered is "Oh my good, keep your shoes on, don't touch and I bring my own pillow cases and cleaning spray! The first house we ever did up was a cute two bedroom cottage in Harpendon, Hertfordshire. I don't know if it has changed, but I just don't remember the same dishonesty or bull.....T going on in England that now goes on in Australia! (experience only to NSW and Gold coast and Queensland). E Link to comment Share on other sites More sharing options...
HelensvaleHoward Posted June 6, 2015 Share Posted June 6, 2015 I wouldn't say $99 for an whole years entrance fee is expensive for the parks on the coast plus buy 3 get 1 free We could've renewed for $79 this year but have said not anymore this year I can't go on the rides with my neck so not worth it for me Link to comment Share on other sites More sharing options...
kiwiathome Posted June 6, 2015 Share Posted June 6, 2015 Then I think your neck is a lifesaver, if not in too much pain. Seriously, we attempted to go down to gold coast in last month after a long time, 4 hours to get down there, **** accommodation for price paid.! Sorry, but I take on kids wrath now, rather than attempt to do Gold Coast. Horrible Place. But I know you like it here, again nothing personal.! But we will probably never go Gold Coast Again.! Don't want to get stabbed! Link to comment Share on other sites More sharing options...
HelensvaleHoward Posted June 6, 2015 Share Posted June 6, 2015 Then I think your neck is a lifesaver, if not in too much pain. Seriously, we attempted to go down to gold coast in last month after a long time, 4 hours to get down there, **** accommodation for price paid.! Sorry, but I take on kids wrath now, rather than attempt to do Gold Coast. Horrible Place. But I know you like it here, again nothing personal.! But we will probably never go Gold Coast Again.! Don't want to get stabbed! Where we live is beautiful Its a very sort after area If I showed you where I live you'd be surprised Stabbed don't make me laugh that can happen anywhere Don't forget the gold coast isn't all about surfers But some can't see it lol Link to comment Share on other sites More sharing options...
kiwiathome Posted June 6, 2015 Share Posted June 6, 2015 Pleased for you Howard. I just have to say Gold Coast has got tiresome and not worth the money. Glad you happy, and next time we'll come and stay with you not an overpriced crappy apartment? I do find your posts interesting. (even though you do live on the gold coast!) Hope you best evening ever. God bless the queen. At least a sleep in on Monday.! Link to comment Share on other sites More sharing options...
HelensvaleHoward Posted June 6, 2015 Share Posted June 6, 2015 Pleased for you Howard. I just have to say Gold Coast has got tiresome and not worth the money. Glad you happy, and next time we'll come and stay with you not an overpriced crappy apartment? I do find your posts interesting. (even though you do live on the gold coast!) Hope you best evening ever. God bless the queen. At least a sleep in on Monday.! Self employed so I don't always take holidays like everyone else Have a customer coming tomorrow morning nothing for Monday as of yet Link to comment Share on other sites More sharing options...
craigyboy Posted June 6, 2015 Share Posted June 6, 2015 So much is being built in my area for investors - all targeted at negative gearing - I wish they would start building proper homes again instead of nasty town homes with sky high body corp or units... BTW Craigyboy - I've been dying to ask a surveyor this - They are building on the flood plain at the end of my road. One plot was full of water (really deep) from recent heavy rainfall. Then one day they got a load of earth and filled in the pond, flattened the earth and compacted it. These are building plots - Would all that water be absorbed by the earth or do you think the plot would slump over time? Hi depending on the environmental classification of the land the type of foundations would have to withstand flooding ie house level is off the ground. The soil treatment is compacted to provide a compaction certificate which is presented to the vendor to verify the soil classification M classification is the ideal type. Regarding water disappearing that depends on the water table. As I said if it is a designated flood zone the house level must be above the ground. Link to comment Share on other sites More sharing options...
craigyboy Posted June 6, 2015 Share Posted June 6, 2015 I think I disagreed with you on another thread, but will soooo agree with this! We have bought and sold many times in Aus. We do do up houses! But never to the expense of safety or dishonesty. I feel like putting the gold coast and sunshine coast into the same sentence with safety and dishonesty! I just don't get building on flood plains. And out of principal hubby and I have become monsters, because we have denied our children the cheap theme park gold tickets anymore! It is just sooooo expensive for the tackiness you get. I have given up ever trying to find good accommodation in the gold coast anymore for a reasonable price. What you get offered is "Oh my good, keep your shoes on, don't touch and I bring my own pillow cases and cleaning spray! The first house we ever did up was a cute two bedroom cottage in Harpendon, Hertfordshire. I don't know if it has changed, but I just don't remember the same dishonesty or bull.....T going on in England that now goes on in Australia! (experience only to NSW and Gold coast and Queensland). E unfortunately, the Gold Coast is famous for shyster development. I can't believe some of the chancer I have found out during the diligence period of the development process. With regard to housing the rental market is governed by private landlords charging way over what the properties are worth in badly designed communities designed for profit and the people who will live there a sorry second. for example a 1 metre long back garden is common place!!! The best place I've seen is North Lakes for value, particularly areas like Narangba nearby with excellent schools and good transport links to Brisbane. As far as developing here believe nothing until you have checked everything!! Link to comment Share on other sites More sharing options...
starlight7 Posted June 6, 2015 Share Posted June 6, 2015 I love the gold coast- great place. You shouldn't believe the crap they put on tv. Burleigh heads is fantastic and so is Broadbeach, Mermaid Waters etc. Most of the bikies seem to have moved down here to Victoria, sad to say from my point of view. Link to comment Share on other sites More sharing options...
HelensvaleHoward Posted June 6, 2015 Share Posted June 6, 2015 Don't forget you'll only ever see a part of the Gold Coast Do you actually think I like Surfers The night markets are great but the only thing I can think of I can count the times I've been and most of them to show friends and family when over and we very rarely stop or park up lol Too many great places on the Gold Coast to name them all But again I only live here so prolly not correct:cool: Link to comment Share on other sites More sharing options...
Perthbum Posted June 6, 2015 Share Posted June 6, 2015 I have been here 8 years and feel it was a mistake not buying a house. Renting is diabolical here - you really are a second class citizen. We pay $650 a week for a large house in a lovely area of Brisbane but the landlord pays next to nothing in property maintenance and any issues with the house (it has dodgy electrics for example) are seen as our fault. I am bored with 3 monthly inspections, really worried in case anything goes seriously wrong with the house and we have to take the flak, tired of having to move every 12-15 months because the landlord wants the house back or rent is increasing by 50% (one house we were in the rent went up from $500 to $800). We earn a high salary between us ($160k+) but are not rolling in it, but do have very expensive medical bills for our son. We rarely have holidays because they wipe us out financially. I have told my hubby 'no more renting' and will be heading back next year. I also wanted to retain the quality of living that I had in the UK (nice house, nice area) and for our area of Brisbane that means $900K plus to buy a small house, $1.5 million for anything decent. There are plenty of options though - we could put up with a long commute and buy a house comfortably in Brissie sticks for $600 - $700K. We could also sell our UK home and buy here so shouldn't complain. I am sure if you wanted it to work you could make it so, but it sounds like you are hankering for home - It is very hard when you post this level of salary and get the 'I live like a king on $70K' responses because some people are excellent at budgeting and prepared to do without and compromise to get where they want to be. Although I'm not a big spender by any means (Markets, Aldi, clothes sourced from UK, cheap cars) I'm not willing to compromise on quality of living so have to suck it up or return. NO, it is law that the landlord has to make sure everything from gas to electrics is up to standard. Link to comment Share on other sites More sharing options...
craigyboy Posted June 6, 2015 Share Posted June 6, 2015 I love the gold coast- great place. You shouldn't believe the crap they put on tv. Burleigh heads is fantastic and so is Broadbeach, Mermaid Waters etc. Most of the bikies seem to have moved down here to Victoria, sad to say from my point of view. Guys, just to clear I live on the Gold Coast and agree it's a great place to live. what I am referring to is the development industry and design outcomes. Link to comment Share on other sites More sharing options...
le petit roi Posted June 7, 2015 Share Posted June 7, 2015 I love Melbourne and Australia but listed below are the things I am struggling with even 8 years on after leaving Scotland, is anyone in the same boat as me or am I completely mental: Substandard cold rental property in North Fitzroy for $2781.00 a month and Land Lord thinking that is at an appropriate standard. Missing family (a lot) No support with my 2 year old who has been a bad sleeper no line of sight of being able to afford a decent house in a desirable area even though I earn in excess of $140K a year. The price of flights back home at Xmas $10K + Rego at $750 a year The long expensive battle for Citizenship and PR The lack of affordability to do long weekends away Sounds all very negative but I am really at the end of it and these issues are driving me back home. I love a lot of things about Melbs but I think its time to head home. Is anyone in the same boat or am I a negative Scotsman !!!!! or a realist I'm literally around the corner from you in lower Northcote. I'm single and earn a lower salary than yourself but a lot of what you say resonates with me. I'm currently deciding when I leave Melbourne, not if. Living in out of the way places, for me, is quite a depressing thought and moving to somewhere cheaper is like putting a sticking plaster onto an open wound. In my time here, housing costs have never been reasonable, never mind cheap. During the GFC period, the UK, USA and Europe allowed house prices to drop thus making houses affordable for savers and the financially responsible. In comparison, Australia did everything possible to support high housing costs and middle class lifestyle whilst imposing higher costs through indirect taxation. This has resulted in savers and the financially responsible being punished. Link to comment Share on other sites More sharing options...
Gbye grey sky Posted June 7, 2015 Share Posted June 7, 2015 I'm literally around the corner from you in lower Northcote. I'm single and earn a lower salary than yourself but a lot of what you say resonates with me. I'm currently deciding when I leave Melbourne, not if. Living in out of the way places, for me, is quite a depressing thought and moving to somewhere cheaper is like putting a sticking plaster onto an open wound. In my time here, housing costs have never been reasonable, never mind cheap. During the GFC period, the UK, USA and Europe allowed house prices to drop thus making houses affordable for savers and the financially responsible. In comparison, Australia did everything possible to support high housing costs and middle class lifestyle whilst imposing higher costs through indirect taxation. This has resulted in savers and the financially responsible being punished. I cannot speak for the USA or mainland Europe but I wonder where you get the idea that the UK was happy to let house prices drop. Policies invoked by the Government and the BofE did everything possible to mitigate the effects of the GFC on the housing market. The bank base rate has been 0.5% for 6 years. QE pumped billions into the bank coffers to keep them lending and there was little if any support for housebuilding so as to create an artificial supply and demand. Yes, Australia's policy of negative gearing seems an anathema but they do support house-building and ultimately it is plentiful supply which will reduce housing costs. Link to comment Share on other sites More sharing options...
HelensvaleHoward Posted June 7, 2015 Share Posted June 7, 2015 Guys, just to clear I live on the Gold Coast and agree it's a great place to live. what I am referring to is the development industry and design outcomes. Your location says Scotland Link to comment Share on other sites More sharing options...
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