House prices going up??

[Paul1Perth]

On 28/05/2021 at 17:09, Blue Flu said:

Way over by a few decades. Australia is expensive. For example I know of a nurse and a policeman from UK, that returned home as even on their salary buying a house that suited requirements, was impossible to get in Melbourne. They went back after three years, her (nurse) to less money but glad to be back .

We would have gone back if we'd lived in Melbourne.

[Blue Flu]

4 hours ago, Paul1Perth said:

We would have gone back if we'd lived in Melbourne.

I rather like Melbourne as it has improved immeasurably from the eighties. While the 'roughness' has been tamed somewhat, the price was desirability stakes rising and prices as well. Although liking it, I still find it is somewhat over rated . I get the feeling when there, fine for what it is, but if a European city it would be somewhat ordinary. If I had gone anywhere in Australia over recent years, my feeling is I wouldn't have stayed. 

[Blue Flu]

5 hours ago, Paul1Perth said:

I think the same is true for here Lavers. If interest rates rise a lot of people will be in strife quickly.

Judging by the relative economies I think there's more chance of interest rates rising here.

Are you buying yet?

Sadly it won't take much of a rise to over turn the apple cart. Loans are being given out on a 5% deposit. That's going to leave many of the more vulnerable in a desperate situation. But whatever happens the bank will in reality be their landlord. This was never the supposed task of banks , but mortgages are easy pickings. Well easy until something goes wrong. Guess who pays for the mess left behind?

[HappyHeart]

On 28/05/2021 at 17:09, Blue Flu said:

Way over by a few decades. Australia is expensive. For example I know of a nurse and a policeman from UK, that returned home as even on their salary buying a house that suited requirements, was impossible to get in Melbourne. They went back after three years, her (nurse) to less money but glad to be back .

Is it very different in Melbourne? We found the opposite to be true when we moved. 

[Johnny Kash]

large amounts of interstate buyers here in South Australia.   If youre working in the Federal Government, wages are the same if youre in Sydney/Melbourne or here in Adelaide, where of course youre money goes much further.   Hence weve had a spike in people moving from Canberra, Melbourne etc to Adelaide which is almost unheard of.

If youre a 20 something socialite you'd find it too quiet here but its mainly younger families coming here.

Incidentally I agree with the earlier poster re whether its 'worth it' to migrate these days.   If I were in the UK with a family and decent jobs over there Id really struggle to justify moving halfway across the planet to live in a suburb miles from the beach.  We came (before having children) with no jobs and the grand sum of $10k in savings, which looking back seems ludicrous

 

 

[Blue Flu]

1 minute ago, HappyHeart said:

Is it very different in Melbourne? We found the opposite to be true when we moved. 

Well you give you an idea I believe the nurse was on close to $130,000 by the end, and he (police) on $90,000 ) That's way over $200,000 (although was less in earlier years) so would have thought that would have been enough. I guess not having a house to sell in UK before leaving meant all income was sourced from here. (a child was born here in final year as well) Melbourne prices were more than Perth in the time frame we are talking as not long back. But I think the heart wasn't in it and the cost just amplified together with having a child, the desire to go home.  Interestingly, never once did they complain about being in Australia outside of housing cost. Now back say barely think of Australia and consider done the right thing. 

[Blue Flu]

6 minutes ago, Johnny Kash said:

large amounts of interstate buyers here in South Australia.   If youre working in the Federal Government, wages are the same if youre in Sydney/Melbourne or here in Adelaide, where of course youre money goes much further.   Hence weve had a spike in people moving from Canberra, Melbourne etc to Adelaide which is almost unheard of.

If youre a 20 something socialite you'd find it too quiet here but its mainly younger families coming here.

Incidentally I agree with the earlier poster re whether its 'worth it' to migrate these days.   If I were in the UK with a family and decent jobs over there Id really struggle to justify moving halfway across the planet to live in a suburb miles from the beach.  We came (before having children) with no jobs and the grand sum of $10k in savings, which looking back seems ludicrous

 

 

Exactly so. Great for young people doing the Backpacker two years and perhaps trying to remain. If free of responsibility and somewhat carefree then still doable. Besides that most questionable. Australia has changed so much over the decades, some longer term residents seem to forget just how easy it all was. Buying a house outright. Often better salary/wages. Cheaper to eat out and a host of other things. Life here is increasingly challenging. Drugs are such an issue in Perth at any rate but Adelaide has taken over the dubious title as meth (ice) capital in Australia. Shocking what's going on in the drug front. Not a thing can be done to stop it either. So prominent in our street and area, but others tell me a problem in their suburbs as well. 

[Wanderer Returns]

6 hours ago, Paul1Perth said:

We would have gone back if we'd lived in Melbourne.

Me too!!

[Blue Flu]

On 24/05/2021 at 16:33, Ausimi said:

How easy is to get a mortgage? How much deposit do you usually need? 
I’m aware it would much depends on individual circumstances, but generally speaking? 
 

here in UK we always had the idea of selling the glumly 3 bedroom terrace and buying a 5 bedroom detached with a swimming pool near the beach!!! I guess those days are over!!!

It's too easy in my reckoning. Too many are getting into debt that they will be hard off to pay further down the line. It's more a matter a what you feel comfortable with taking into consideration using the average interest rate in the historical sense as a guideline. What most wouldn't likely want is severe stress further down the line. 

[Lavers]

6 hours ago, Paul1Perth said:

I think the same is true for here Lavers. If interest rates rise a lot of people will be in strife quickly.

Judging by the relative economies I think there's more chance of interest rates rising here.

Are you buying yet?

Just looking now mate, but will be building our own house. Save on stamp duty and build something better than we can buy.

Looked at houses and they want knocking down really, but they are selling for $50,000 + above asking price.

Think your right with interest rates going up here 1st, they've been low in the UK since the big financial crash.

[HappyHeart]

40 minutes ago, Blue Flu said:

Well you give you an idea I believe the nurse was on close to $130,000 by the end, and he (police) on $90,000 ) That's way over $200,000 (although was less in earlier years) so would have thought that would have been enough. I guess not having a house to sell in UK before leaving meant all income was sourced from here. (a child was born here in final year as well) Melbourne prices were more than Perth in the time frame we are talking as not long back. But I think the heart wasn't in it and the cost just amplified together with having a child, the desire to go home.  Interestingly, never once did they complain about being in Australia outside of housing cost. Now back say barely think of Australia and consider done the right thing. 

Sounds like they had already decided what they wanted to do. You can talk yourself in or out of anything if the will is there. 

[Parley]

11 minutes ago, HappyHeart said:

Sounds like they had already decided what they wanted to do. You can talk yourself in or out of anything if the will is there. 

Yep. Happiness is a choice and if someone is absolutely determined to be unhappy nothing will stop them.

[Tulip1]

1 hour ago, Blue Flu said:

Well you give you an idea I believe the nurse was on close to $130,000 by the end, and he (police) on $90,000 ) That's way over $200,000 (although was less in earlier years) so would have thought that would have been enough. I guess not having a house to sell in UK before leaving meant all income was sourced from here. (a child was born here in final year as well) Melbourne prices were more than Perth in the time frame we are talking as not long back. But I think the heart wasn't in it and the cost just amplified together with having a child, the desire to go home.  Interestingly, never once did they complain about being in Australia outside of housing cost. Now back say barely think of Australia and consider done the right thing. 

How can a couple earning over $200k not get on the housing ladder? Can they not borrow four or five times their salaries? If they want to live in the most expensive part of Melbourne it would be hard but there’s a lot of places in many nice suburbs for less than $800/900k and always has been. I think you hit the nail on the head, it was more that their heart wasn’t in it. 

[Marisawright]

2 hours ago, Blue Flu said:

I rather like Melbourne as it has improved immeasurably from the eighties. While the 'roughness' has been tamed somewhat, the price was desirability stakes rising and prices as well. Although liking it, I still find it is somewhat over rated . I get the feeling when there, fine for what it is, but if a European city it would be somewhat ordinary. 

I disagree.  Like all large cities, your experience will vary depending on which part of the city you visit 

[Blue Flu]

4 hours ago, Marisawright said:

I disagree.  Like all large cities, your experience will vary depending on which part of the city you visit 

Not sure what is so unique about it though. It likes to consider itself to be Euro influenced, true to a degree. But surely better the real thing ? But if not possible to do that Melbourne would do nicely enough. 

[Blue Flu]

4 hours ago, Tulip1 said:

How can a couple earning over $200k not get on the housing ladder? Can they not borrow four or five times their salaries? If they want to live in the most expensive part of Melbourne it would be hard but there’s a lot of places in many nice suburbs for less than $800/900k and always has been. I think you hit the nail on the head, it was more that their heart wasn’t in it. 

That was my thought at the time. It's not a matter of not being able to get on the housing ladder that's not what they said. It was the price and period of time required to pay off a loan. I gather they didn't have a lot of capital to put down. Around $900,000 was I believe the price they quoted to get anything of their liking. They appeared  to really like Australia so al were quite taken back with their sudden decision to return. I also suspect having a child greatly influenced outcomes. But as mentioned they are very happy (as well) being in Glasgow .

[Blue Flu]

5 hours ago, HappyHeart said:

Sounds like they had already decided what they wanted to do. You can talk yourself in or out of anything if the will is there. 

No idea what went on between them. A sneaky suspicion that perhaps he wasn't quite in the same boat of contentment as was his wife.( he was earning substantially less)  Never breathed a word. Although did find it a litte hard in the police at the beginning, but hardly complained. She was definitely very content with her earning capacity which increased substantially over the three years, after taking on more responsibility. People often never truly reflect what's going on behind the scenes though. 

[Tulip1]

1 hour ago, Blue Flu said:

That was my thought at the time. It's not a matter of not being able to get on the housing ladder that's not what they said. It was the price and period of time required to pay off a loan. I gather they didn't have a lot of capital to put down. Around $900,000 was I believe the price they quoted to get anything of their liking. They appeared  to really like Australia so al were quite taken back with their sudden decision to return. I also suspect having a child greatly influenced outcomes. But as mentioned they are very happy (as well) being in Glasgow .

As long as they’re happy that’s all that matters.

[Paul1Perth]

16 hours ago, Blue Flu said:

Exactly so. Great for young people doing the Backpacker two years and perhaps trying to remain. If free of responsibility and somewhat carefree then still doable. Besides that most questionable. Australia has changed so much over the decades, some longer term residents seem to forget just how easy it all was. Buying a house outright. Often better salary/wages. Cheaper to eat out and a host of other things. Life here is increasingly challenging. Drugs are such an issue in Perth at any rate but Adelaide has taken over the dubious title as meth (ice) capital in Australia. Shocking what's going on in the drug front. Not a thing can be done to stop it either. So prominent in our street and area, but others tell me a problem in their suburbs as well. 

What do you mean nothing can be done? If I knew of a drug lab near me I'd be on the phone to the cops.

I'm sure you're right about drugs being a problem but I don't see any problem on a day to day basis. 

The only time I've known drugs to be a problem to people was when I was at uni in Birmingham. I was amazed at the amount around and how easy they were to get. Obviously saw heaps at music festivals as you could never get to the bar.

Uni though, people used to smoke dope because it was cheaper than booze. Have a few before going out. Always tried to steer clear of tablets though, never knew what was in them.

If I wanted some here I'm sure I could get some but, honestly, doesn't affect us.

[Paul1Perth]

16 hours ago, Lavers said:

Just looking now mate, but will be building our own house. Save on stamp duty and build something better than we can buy.

Looked at houses and they want knocking down really, but they are selling for $50,000 + above asking price.

Think your right with interest rates going up here 1st, they've been low in the UK since the big financial crash.

You'll get the first homebuyers grant too won't you? 

We thought about building but we had already decided the suburb we wanted to live in, had a 2 year old and decided to go for an established 4x2. We were sick of renting and really wanted our own place. Bit of a buyers market then though, December 92, lots of houses to look at and a decent offer just below asking price did the trick. Had the usual 25 year mortgage that you worry about for a bit but you get there. That's life eh.

[Paul1Perth]

10 hours ago, Blue Flu said:

No idea what went on between them. A sneaky suspicion that perhaps he wasn't quite in the same boat of contentment as was his wife.( he was earning substantially less)  Never breathed a word. Although did find it a litte hard in the police at the beginning, but hardly complained. She was definitely very content with her earning capacity which increased substantially over the three years, after taking on more responsibility. People often never truly reflect what's going on behind the scenes though. 

Bit strange, a nurse earning that much more than a cop. My wifes been a nurse all her working life and even if she was full time now I doubt she'd be on 120,000.

I guess if you're on shiftwork, weekends, nights and stuff maybe. Same for the cop though.

[Parley]

7 minutes ago, Paul1Perth said:

Bit strange, a nurse earning that much more than a cop. My wifes been a nurse all her working life and even if she was full time now I doubt she'd be on 120,000.

I guess if you're on shiftwork, weekends, nights and stuff maybe. Same for the cop though.

I found it hard to believe a nurse would be on $130K. Victoria will be broke if they all get that.

My daughter is a nurse. I don't think she is making that sort of money. If she is I'll have to ask her for a loan 

[HappyHeart]

1 hour ago, Parley said:

I found it hard to believe a nurse would be on $130K. Victoria will be broke if they all get that.

My daughter is a nurse. I don't think she is making that sort of money. If she is I'll have to ask her for a loan 

A nurse manager or nurse practitioner earns well in excess of $100k in private or NFP.  More in the public sector. Its a diverse career with a diverse salary range according to skill level, responsibility  and experience. A newly qualified nurse will earn between around $27-33 p/h. Go to the top and earn in excess of $70...probably more. Same in most jobs. 

Edited June 1, 2021 by HappyHeart

[Drumbeat]

2 hours ago, Parley said:

I found it hard to believe a nurse would be on $130K. Victoria will be broke if they all get that.

My daughter is a nurse. I don't think she is making that sort of money. If she is I'll have to ask her for a loan 

Why?? Nurses are professionals, many have 20 - 30 years of experience with a Masters degree and a massive amount of responsibility. Would you have said the same if she was an engineer?

[Parley]

7 minutes ago, Drumbeat said:

Why?? Nurses are professionals, many have 20 - 30 years of experience with a Masters degree and a massive amount of responsibility. Would you have said the same if she was an engineer?

https://au.indeed.com/career/nurse/salaries/Victoria