Guest sooveroz Posted September 26, 2009 Share Posted September 26, 2009 G'day mate, if you read the original post that I referred to, you will see that it states quite plainly..." You show me a house for $160k in WA. No chance. $400k as a start point." I merely pointed out that one could buy houses for that...and less.:yes: Cheers, Bobj. indeed yes - i stand corrected. Link to comment Share on other sites More sharing options...
Guest sh7t man no way Posted September 26, 2009 Share Posted September 26, 2009 i have houses in eng and aus -- i am quoting queensland--- i find qld about 15/20% more exspensive than a house in eng.yes you get a bigger block of land in qld but after you put a pool in,the rest of it is only for the dogs to play in.as for buying land and building in qld its a minefield,you could buy a plot and still be wacthing the grass grow for a year till you start the build (local council and heaps of paper work) having said that qld is a nice place to live,once you get past the redneck attitude.hope this info was helpfull. Link to comment Share on other sites More sharing options...
Guest gary12 Posted September 26, 2009 Share Posted September 26, 2009 I think house prices are expensive, we are in Melbourne and so I guess we have to expect it. We had a nice 4 bed detatched, big garden backing onto open countryside in the UK, we have just paid the same for a 3 bed renovation "project" here. Not sure about other states but here house prices are listed for an 'offers over' price and our agent told us they are going for about 11% over that at the moment. The other thing they do is give a bottom and top end price it $100k to $140k, and still people pay over this. We looked at one recently that was listed at $600+ it's selling price was $819, bonkers. Buying a property is a totally different process to the UK, it's very hard to get out of once you have agreed to buy. You just have to get your head around it and stop comparing both prices and process. regards Michelle Link to comment Share on other sites More sharing options...
Guest LukeSkywalker Posted September 26, 2009 Share Posted September 26, 2009 We looked at one recently that was listed at $600+ it's selling price was $819, bonkers. Yes. I have noticed this. Its simialr to what happened 12 months before the last UK property bubble, the Irish bubble and the huge US property bubble. My brother-in-law (55 years old, pretty smart guy) says that he thinks Australia is 2 years behind the rest of the world in terms of having a property disaster. It wouldn't surprise me to be honest. In the last 3-4 months there has been a bit of a "feeding frenzy" in Melbourne for sure. Prices going crazy. I looked at a house in Brighton and although it was, unrenovated, poorly built, average block of land the asking price was $990k but incredibly it went for $1.1m at auction!!! Unless I am missing something average salaries in Australia are not so huge that these prices can be sustained. I'm told that $150k is a good salary for an office worker. At least 90% of the people who will be working for me in my department earn significantly less than that. So how are they paying $600k++ for houses? Answer .... large multiples of their income, extended length mortgages (35 years).. blah blah. This reads to me exactly the same as it did in the UK etc. I knwo there is an argument that "more immigrants means more housing demand". But that hold true for almost every country globally. The issue isnt demand, but prices. Plus I think with the strong currency ($1.83 to £1) Australia will find it hard to attract quality immigrants, as for many poeple it would mean swapping to a poorer house. Just this week one of my mates who is a surgeon pulled out of moving to Sydney because he no longer felt he could live in a nice house - and he had £500k to take with him. I dont know Sydney prices, but the difference in 12 months is $1.3m now down to $900k. As he said $400k is $20k savings every year for TWENTY years. Thats 3 people I have personally heard of pull out in the last seven days. It may take a couple of years, but the Australian property bubble will burst. People have to remember property is for living in or investing in. NOT for speculation. Sadly a lot of people have forgotten this right now ............ Link to comment Share on other sites More sharing options...
Guest Miz Posted September 26, 2009 Share Posted September 26, 2009 Interesting thread, I always thought that UK property was overpriced but I guess as always it comes down to location, location, location. So it depends on where in the UK or where in OZ you want to buy. Sydney and Melbourne are very expensive, IMHO, and pretty much always have been. Western Australian prices went through the roof because the mining boom attracted so many more people over to that side of the country and there just was not enough housing there for them, demand outstripping supply pushes up prices. Anyone see that tv show 'Grand Designs'? I wondered where those young couples got their millions (in UK pounds) to buy and do up their properties, and to top it off the wife tended to get pregnant and leave her job as they were renovating. I guess there are more rich people in the world than I can ever imagine. Personally I just love the really old houses you can get in the UK that simply do not exist here. Could I afford to buy one of those if I sold my house in Oz, or are they still something only the rich live in? Preferably with a nice big garden too of course. Link to comment Share on other sites More sharing options...
Guest LukeSkywalker Posted September 26, 2009 Share Posted September 26, 2009 Interesting thread, I always thought that UK property was overpriced but I guess as always it comes down to location, location, location. So it depends on where in the UK or where in OZ you want to buy. Sydney and Melbourne are very expensive, IMHO, and pretty much always have been. Western Australian prices went through the roof because the mining boom attracted so many more people over to that side of the country and there just was not enough housing there for them, demand outstripping supply pushes up prices. Anyone see that tv show 'Grand Designs'? I wondered where those young couples got their millions (in UK pounds) to buy and do up their properties, and to top it off the wife tended to get pregnant and leave her job as they were renovating. I guess there are more rich people in the world than I can ever imagine. Personally I just love the really old houses you can get in the UK that simply do not exist here. Could I afford to buy one of those if I sold my house in Oz, or are they still something only the rich live in? Preferably with a nice big garden too of course. Grand designs - er, yes, they are the uber wealthy in most cases. How much your house in oz worth? Then we can tell you where you could go! Link to comment Share on other sites More sharing options...
Guest Miz Posted September 26, 2009 Share Posted September 26, 2009 Hmm... Luke, I haven't actually looked at what my place is worth too seriously but I suspect only in the 350,000-375,000 Oz dollars range. I don't think that will get me very much in the UK so I guess I will be staying here, but you can tell me where to go anyway if you like. Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted September 26, 2009 Share Posted September 26, 2009 When we came over 5+ years ago, property prices were cheap and the houses in the UK were a lot more expensive. As you say, I think things have turned round now, people are slashing their house prices in UK by thousands and still cannot sell. Whereas we purchased a house here in Melbourne a few years ago and when we considered selling a few months back we had 5 agents out and they all came in at the same valuation meaning ours has gained $250k. I think it is mainly the land that has gone up, over the houses, land was from $45k here in the South East, now it's around $200k plus. Link to comment Share on other sites More sharing options...
Eera Posted September 27, 2009 Share Posted September 27, 2009 Over here they're very keen on pushing the idea of "owning your dream home" to first time buyers; look around the display home and all of them are top spec massive things, no real starter places to be seen. It's awful seeing 20-somethings that I work with buying places that tie them down to minimal repayments for the next 30 years; our secretary was given a mortgage where the payments were more than her annual income (her mum went guaranteur, poor lady). It's been 5 years since I was last in the UK but it seems to me that you get more choice when you're starting out than in Australia in terms of units and converted houses, here there just seems to be the smaller places readily available unless you're in the cities, where they're expensive in the first place. But prices have increased massively in the last few years; when you've got a place or two it's great seeing the 6-monthly report stating how your equity has increased 30% in the last year. Not so good when you're on the outside looking in. The land is quite reasonably priced, the second-rate build quality of most places is very over-priced. Link to comment Share on other sites More sharing options...
Guest LukeSkywalker Posted September 27, 2009 Share Posted September 27, 2009 Actually for that money you would currently get some quite nice cottages (but small - all cottages are small!) away from London. Not sure if you could stand the heat though as you are in Tasmania :-) Link to comment Share on other sites More sharing options...
Quoll Posted September 27, 2009 Share Posted September 27, 2009 For L200k you would get some nice places in villages in Cambridgeshire if you could stand the fens. You would also do quite well in Lincolnshire from all accounts as it is reported to be one of the cheaper counties to live in. Obviously central London would be out of the question but you could do quite well in East Anglia. Link to comment Share on other sites More sharing options...
Guest Miz Posted September 27, 2009 Share Posted September 27, 2009 LOL Luke, yeah the heat is something I don't like. Thanks for the info, it is nice to know which areas to look at. I would be quite happy to not be in London, village life sounds quite fine as currently I am in a rural area anyway. It does go to show that housing prices are not so bad in Oz really, as I would have to downsize if I moved to the UK, although Cambridgeshire and Lincolnshire look awfully pretty on the net. *sigh* Link to comment Share on other sites More sharing options...
Guest Mattyw1985 Posted September 27, 2009 Share Posted September 27, 2009 We have been in melbourne for 2 months now and think the houses are way over priced, especially if you are at the lower end of the market. In the uk we had a three bed smallish house worth about £90000, there is know way you could even get a one bed 50kms out of the city for that price and you'd be miles from anywhere, where as in the uk we were walk to pubs, shops etc. I think in 6-12 months there will be a drop in prices in australia as from what I've seen most new buyers put everything into their mortgages, even more so than than the uk. We could easily borrow more money over in oz, 5 times salary. I don't think this sort of borrowing can be sustained Link to comment Share on other sites More sharing options...
Guest LukeSkywalker Posted September 27, 2009 Share Posted September 27, 2009 I think in 6-12 months there will be a drop in prices in australia as from what I've seen most new buyers put everything into their mortgages, even more so than than the uk. We could easily borrow more money over in oz, 5 times salary. I don't think this sort of borrowing can be sustained Correct - you only have to study the UK & US to realise that. It will be the same in Australia - only the best areas will hold up price wise when the inevitable down tick happens. Link to comment Share on other sites More sharing options...
Guest barab Posted September 27, 2009 Share Posted September 27, 2009 Houses are cheap compared to houses in the UK and you get bigger houses on bigger plots...plus they are better built in Oz. Fair dinkum bonzer,Strewth you nearly passed for an Ozzie there mate. Bloody Oath!! Link to comment Share on other sites More sharing options...
KIRK AND CO Posted September 27, 2009 Share Posted September 27, 2009 When we came over 5+ years ago, property prices were cheap and the houses in the UK were a lot more expensive. As you say, I think things have turned round now, people are slashing their house prices in UK by thousands and still cannot sell. Whereas we purchased a house here in Melbourne a few years ago and when we considered selling a few months back we had 5 agents out and they all came in at the same valuation meaning ours has gained $250k. I think it is mainly the land that has gone up, over the houses, land was from $45k here in the South East, now it's around $200k plus. I think your uk info needs up dateing (slashing thousands) ? Link to comment Share on other sites More sharing options...
gpo1971 Posted September 28, 2009 Share Posted September 28, 2009 G'day mate, if you read the original post that I referred to, you will see that it states quite plainly..." You show me a house for $160k in WA. No chance. $400k as a start point." I merely pointed out that one could buy houses for that...and less.:yes: Cheers, Bobj. Fair enough. I should have said Perth, not WA. Sorry. Link to comment Share on other sites More sharing options...
Guest LukeSkywalker Posted September 28, 2009 Share Posted September 28, 2009 I think your uk info needs up dateing (slashing thousands) ? Why do you question that? Its absolutely true in most of the UK - the South East included. Please don't believe more of Grodon Browns lies when he says that prices are rising. Its utter rubbish. The statistics out today are based on such a small sample as to be completely meaningless. Houses are either not selling or are being reduced in price by thousands in order to sell. The reason they look like prices are rising is because last year peope were reducing their prices by even more. The only place houses are selling is in very desirable areas - and as always these houses are the targets of the wealthy/aspiring wealthy. They will never drop by as much as those houses in marginal areas. Link to comment Share on other sites More sharing options...
tracy123 Posted September 28, 2009 Share Posted September 28, 2009 The biggest problem is each state has its own London eg WA = UK................ Perth = London Victoria = UK............... Melbourne = London and so on Everyone wants to live close to the inner city and if you want to live there it will cost you more, the same as the UK. You need to look at things like for like to get a true cost, Could you move from your house in Australia and buy the same house on the same size land in the same area of the UK for the same price? I think not. You can buy cheap homes in the UK but would you live in the areas where they are? They are cheap for a reason........... Link to comment Share on other sites More sharing options...
Guest LukeSkywalker Posted September 28, 2009 Share Posted September 28, 2009 The biggest problem is each state has its own London eg WA = UK................ Perth = London Victoria = UK............... Melbourne = London and so on Everyone wants to live close to the inner city and if you want to live there it will cost you more, the same as the UK. You need to look at things like for like to get a true cost, Could you move from your house in Australia and buy the same house on the same size land in the same area of the UK for the same price? I think not. You can buy cheap homes in the UK but would you live in the areas where they are? They are cheap for a reason........... I'm not so sure about the house prices at $1.80 : £1. I have only looked at Brighton for familly homes, and a "good" house there would cost me $1.5m, or £830k. In London I could get something quite similar now in a good suburb. At $2.40 of course there is no comparison. Apartments seem to be a very different kettle of fish. Wilst £300k in London gets you nothing at all, in Melbourne you get a really nice flat within a 15 minute walk of CBD. Thats kind of strange to me. Link to comment Share on other sites More sharing options...
Guest brooksey Posted September 28, 2009 Share Posted September 28, 2009 Parts of the Gold Coast went up 31% last year and they say it will all rise by 25% all over the GC in the next 2 years Link to comment Share on other sites More sharing options...
tracy123 Posted September 28, 2009 Share Posted September 28, 2009 I'm not so sure about the house prices at $1.80 : £1. I have only looked at Brighton for familly homes, and a "good" house there would cost me $1.5m, or £830k. In London I could get something quite similar now in a good suburb. At $2.40 of course there is no comparison. Apartments seem to be a very different kettle of fish. Wilst £300k in London gets you nothing at all, in Melbourne you get a really nice flat within a 15 minute walk of CBD. Thats kind of strange to me. That's an easy one Luke It's all you Poms wanting to live on the beach, why the prices are so high in Brighton LOL Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted September 29, 2009 Share Posted September 29, 2009 I think your uk info needs up dateing (slashing thousands) ? I am sorry but I don't understand your comments? The last 5 families we have relocated have had to reduce their property so that they could sell in the UK some by upto 45,000 gbp:no: Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted September 29, 2009 Share Posted September 29, 2009 That's an easy one Luke It's all you Poms wanting to live on the beach, why the prices are so high in Brighton LOL This is exactly what happened on the Mornington Peninsula, the realestate agents admit that it is us poms that keep the prices up.:wubclub: Link to comment Share on other sites More sharing options...
Guest brooksey Posted September 29, 2009 Share Posted September 29, 2009 I think your uk info needs up dateing (slashing thousands) ? I don't know about your area but Sheffield property has dropped by 20 to 30%. I'd call that thousands.:confused: Link to comment Share on other sites More sharing options...
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