Buying in Sydney… it seems impossible!

[Marisawright]

I think you've made the right decision.   It's sad because I know how exciting it must've been to suddenly have the prospect of such an adventure.  If it was anywhere else in Australia it would've been different, but it did sound like the wrong place for you.  Not just for affordability but the kind of lifestyle you'd have.

[Blue Flu]

On 01/09/2021 at 17:34, Parley said:

We've been hearing for years and years that property prices are going to correct. For many reasons.

It hasn't happened. Demand is always there.

It did happen at least Out West anyway, with prices falling considerably, only just recovered. I believe other states suffered a down turn but not to the extent of The West. Demand was stimulated by poor thought out government policy and banks making it too easy, before being pulled into line a little. We are in bubble territory, being kept alive by cheap money mainly , but other factors like fear of missing out etc. The proof will be in the pudding come a change in interest rates . Longer term could get very messy indeed, Warnings have not been adhered to. 

[Blue Flu]

4 hours ago, NatalieB said:

Thanks again all, many more helpful comments that I am very grateful for

We have just emailed the company that offered the sponsorship, thanked them for the offer but advised that we simply cant afford to move to Sydney

We are very lucky though, we have a great life here and we can just visit Aus in the future

 

Thanks again for all your help and advice

Best of both worlds Natalie. A great life in Lincolnshire and an attempt tp recreate something along those lines in Sydney....well I'll just say I think you made the right decision without doubt. Further I think the advise offered to your question by everyone was spot on the mark.