House prices

[Guest siamsusie]

Hi Jay,

 

I guess there is a certain percentage of us that enjoy owning our own homes, it certainly has given us the flexibility to make certain financial decisions in our lives.

I wouldnt say it is the be and end all of living your life, but it has certainly worked well for my children and ourselves.

 

Nice to see you btw Susie x

[Paul1Perth]

Crippled in the respect that Britain lost its backbone when people started buying houses, you can't stand up for your rights by striking if you have a burden like a mortgage round you're neck! And i believe we have been screwed ever since!!

 

You must admit that having a mortgage is the biggest life suppressor in the World!!

 

And No, i didn't realise home ownership rates were the same, in what respect?

 

EVERYONE i know in the UK has a mortgage, NOBODY i know in Australia has a mortgage, maybe its an age thing??

 

I reckon it must be "an age thing Jay". We have to live here just like we had to in the UK. The friends around us just about all have mortgages just the same as we did in the UK. There are a few renting and admittedly, for a couple of them, it's a lifestyle choice. They live in pretty big houses so are paying a lot in rent but the mortgage on the same house would be a lot more. They like going on holidays and eating out and entertaining and a mortgage would hold them back (at least for the same size house in the same place).

 

I don't know where you heard about 20% of the population owning 100% of the housing but I just can't see it myself. Doesn't seem a lot different than the UK.

 

There are a lot of younger people who come over and treat it like one long holiday. Never seen so many Vee Dub camper vans as around Kings Cross and the Gold Coast. Backpackers all over the place. Good luck to them I say, you are only young once and why not do it if you can.

[JayBone]

Hey Susie,

 

I think it depends how much finances you have left after paying your mortgage payment? for people in their 20's (all over the world i would guess) its not a pretty picture!

 

I bet its nice to own your own home, but the 25 years when the bank owns your life is the bit i can't deal with! I have been completely screwed by home ownership in the last 4 years and it's something i don't intend to allow to happen again, i will rent modestly, save what i can, and buy/build when i can afford it, outright!

 

If i had your house i would have to charge rent to all those Koalas, Kanga's and KookaBurras living in your garden!:tongue:

 

 

Hi Jay,

 

I guess there is a certain percentage of us that enjoy owning our own homes, it certainly has given us the flexibility to make certain financial decisions in our lives.

I wouldnt say it is the be and end all of living your life, but it has certainly worked well for my children and ourselves.

 

Nice to see you btw Susie x

[fish.01]

Crippled in the respect that Britain lost its backbone when people started buying houses, you can't stand up for your rights by striking if you have a burden like a mortgage round you're neck! And i believe we have been screwed ever since!!

 

You must admit that having a mortgage is the biggest life suppressor in the World!!

 

And No, i didn't realise home ownership rates were the same, in what respect?

 

EVERYONE i know in the UK has a mortgage, NOBODY i know in Australia has a mortgage, maybe its an age thing??

 

I looked it up once and home ownership rate is almost identical.

[JayBone]

Yeah i just did too and it said 69% for UK and Australia,

 

but what i had read is that the figure is based on percentage of population, against percentage of mortgages. it doesnt take into account people who own more than one house, or houses owned by overseas developers etc, the report showed that the figures were seriously flawed, its kind of backed up by previous threads i have read on here and elsewhere that finding a rental is not that easy, 20 applicants per house in some instances! there must be alot of people renting if that is the case?

 

Alot of the Australians i know move around the Country alot more regularly than people in the UK would relocate to a different area, again, this would only be the case if you were renting, selling up and moving every couple of years would be crippling i would imagine with stamp duty etc??

 

I looked it up once and home ownership rate is almost identical.

[Guest siamsusie]

Hey Susie,

 

I think it depends how much finances you have left after paying your mortgage payment? for people in their 20's (all over the world i would guess) its not a pretty picture!

 

I bet its nice to own your own home, but the 25 years when the bank owns your life is the bit i can't deal with! I have been completely screwed by home ownership in the last 4 years and it's something i don't intend to allow to happen again, i will rent modestly, save what i can, and buy/build when i can afford it, outright!

 

If i had your house i would have to charge rent to all those Koalas, Kanga's and KookaBurras living in your garden!:tongue:

 

:hug:Seriously I understand where you are coming from, and to be frank we do have my friends in their 30's and 40's in Karratha for example who are mortgaged upto the hilt. Median house price $800,000 upwards now that does worry me because invariably all the toys, eg the cars, boats, motor bikes etc are added extras. They are lulled into the false (?) security of the great WA boom which hopefully will continue for many a year, but as I saw a couple of Chrismas s ago, with my husband's company (commencement of recession) they were very quick to pull the plug and close the entire railways down for the whole of the Christmas and New Year period. The first time they have closed down in 35 years (cyclones aside) and the guys were on enforced vacation.

 

Your point of view is also to be taken seriously, why kill yourself for the banks , you have one life to enjoy, so I do understand your argument !

 

I will indeed take your comments on board regarding the wildlife. Invoicing might be the way to go :notworthy:

 

Love Susie x

[Guest guest30038]

We never had much interest in owning a home...........could take it or leave it. The change came when one of our sons was dx'd as autistic. We thought about his future...would he be able to work?......... would he find a partner?...........would he ever be independent? From that moment home ownership was our priority and paying it off as soon as possible was a goal.

 

Nearly 14 yrs later, it's ours. If I pop my clogs, Bridget can downsize and have a tidy nest egg, or keep it with no encumbrance. Whatever happens, our kids will be secure, and that's what my property means to me............it's more than just a home, it's the future.

 

kev

[JayBone]

Have the prices of ferries to tassie come down yet?

 

Please dont start invoicing visitors to your garden until after we have been!!:wink:

 

 

:hug:Seriously I understand where you are coming from, and to be frank we do have my friends in their 30's and 40's in Karratha for example who are mortgaged upto the hilt. Median house price $800,000 upwards now that does worry me because invariably all the toys, eg the cars, boats, motor bikes etc are added extras. They are lulled into the false (?) security of the great WA boom which hopefully will continue for many a year, but as I saw a couple of Chrismas s ago, with my husband's company (commencement of recession) they were very quick to pull the plug and close the entire railways down for the whole of the Christmas and New Year period. The first time they have closed down in 35 years (cyclones aside) and the guys were on enforced vacation.

 

Your point of view is also to be taken seriously, why kill yourself for the banks , you have one life to enjoy, so I do understand your argument !

 

I will indeed take your comments on board regarding the wildlife. Invoicing might be the way to go :notworthy:

 

Love Susie x

[Guest siamsusie]

Have the prices of ferries to tassie come down yet?

 

Please dont start invoicing visitors to your garden until after we have been!!:wink:

 

Remains a bone of contention with me excuse the pun J.Bone! The ferry remains expensive....I think you are looking at a cheapie flight and taking my car and doing it on the cheapo which is fine, we have to beat the system Jaybone eh:wink::hug:

[Guest chris955]

Well as my mortgage is $600 a month and rent would be in the region of $1200 plus I cant say I agree personally :biggrin:

 

The rate of home ownership is the same in both countries, as in the % of people that own and/or buying their own home.

 

Like I said I know one family who rent here and that is because they aren't staying, everyone else we know has a mortgage.

 

 

You must admit that having a mortgage is the biggest life suppressor in the World!!

 

And No, i didn't realise home ownership rates were the same, in what respect?

 

EVERYONE i know in the UK has a mortgage, NOBODY i know in Australia has a mortgage, maybe its an age thing??

[S92LAME]

Earning that sort of salary you would probably be some of a small minority of immigrants that could afford to buy and live in City Beach. It's one of the most expensive beachside suburbs in Perth and probably the whole of Australia. I remember driving through there when we first emigrated and thinking every house was a mansion. I haven't seen anything like the houses around there anywhere in the UK. I drove through Oxshott once though and there were some nice places around there but they're not across the road from a great beach.

 

Drive 10-15km North and you would get the same sort of house for a quarter of the price.

 

well luckilly, neither my wife or i are bothered about beaches. infact we prefere the country to the beach.

 

having said that, we just visited Palm beach (north Sydney) today and that is somewhere i could live!! beautiful golf course and a fantastic little town. and 5 mins from Avalon which has everything you need!

[Nick and sez]

House prices in Australia have nothing to do with the exchange rate between dollars and pounds!

 

Using an exchange rate of 1.56/1 does nothing for you, 2.5 is more like it, which would be $413k to £165k

 

Plus, £165k does not buy you much in the UK!!

 

Owning a house is not a right, its not even necessary, its such an 80's maggie Thatcherism and it has crippled every family in Britain! Im glad i dont have a mortgage anymore, and its a ladder i dont wish to climb back onto for a long long time!

 

I read somewhere that 100% of houses in Australia are owned (effectively) by 20% of the population.....Stop being British and rent like normal Australians! maybe then you can all chill out a little!

 

xxx

I would love to mate but with cuts and having no pension anymore as i lost it all what happens when and if you get to 66 and above...

 

Tell me what happens in OZ at 65 or 66 when you as an ex pat can retire, does the OZ gov pay for it or does the £90.53 a week from england cover the cover the cost of your rent...

 

I woud love tp know about this AUSTRALIAN RETIREMENT LIFESTYLE MATE...:cool:

[Steve99]

Posting this just out of interest to see how the tables turned between the two countries.

 

Avarage house price in the UK is 165,659 (source: houseprices.uk.net)

 

Avarage house price in Perth (I can only speak for Perth as I live here, dont know other cities) is $500,000.

 

 

 

Using the current exchange rate of 1.56, 165,659 pounds is $258,428 aussie dollars, which would get me nothing here in Perth.

It is hard to find any decent house for sale under $400,000.

 

We are in a similar position in Melbourne, most of our money in the UK and worth nothing in Oz. We will wait it out. Aus property is now the most unaffordable in the world and all the rational for this is quiet pathetic. Did you know that contrary to what you read in the press and hear constantly in the other media, that:

There are less people per house in Aus now than 10 years ago.

There are over 500,000 properties sitting emptly at any one time, and many of these have been bought as speculative gamble (empty on account of the buyers know the return on rent is only 2% or so after costs, and thats if they paid cash, far worse with a mortgage) and dont want their 'investment spoiled by tennants. What happens when they come back on the market all of a sudden, just like in the USA and Ireland?

or That the market funds are sourced from overseas to the tune of around 40% from foreign bankers who are riding the wave of Aus interest rates and that if the RBA has to cut this rate for economic or other reasons then the funds will completely dry up?

And that for the very same reason the inflows of cash into Australia is on account of these high interest rates which is the only reason the Aus$$ is riding so high at the moment, and has little to do with the mining boom?

 

Sentiment is still high re property price speculation (not investment) and sentiment will turn one day just like in all the other previous bubble countries.

 

how many of these points are mentioned in the media? almost none or never

 

Investment 'A return on your money via a profit generating asset/enterprise'

Speculation 'Putting money into a new venture in order that it may bring a return in the future, ie factory, mining enterprise etc etc

Bubble/Pyramid Scheme/Ponzi Scheme Buying something on account of it going up thus chasing up the price, the last one in propping up the price for the first ones in, buying it in a panic etc etc.

 

Australian property is which of the above?

Aus $$ is currently both Investment ie pays a return and a bubble, being bought into on account of its above average returns, but remember the big boyz running the banks can act quicker and with more warning than we can on any potential price movement.

[fleabo]

On the basis of "cost per square meter of house" some houses in nice leafy suburbs in Sydney are cheaper than houses in nice leafy suburbs in the UK - even at an exchange rate of $1.6.

 

Cheers.

[KIRK AND CO]

 

If you look at the newbury position on the map it is central for most major routes. There are major construction going on ie massive new shopping complex, new schools, new house construction & new estate agents opening. Newbury will be the next boom town within the next 5 years but i am hoping 4.

just found this old thread must of had a crystal ball lol.