$3009 (1250 GBP) average monthly mortgage
May 30th 2007, 10:04 am
#46
Where traffic lights rule
Joined: Aug 2006
Location: Brighton QLD
Posts: 2,460
Re: $3009 (1250 GBP) average monthly mortgage
We paid $140k for 2.5 acres block 20k's from the CBD 5/6 years back, the good old days 
Where did you find that Vim?
Where did you find that Vim?
I've never been to Perth (my wife liked her time there though) but a year ago we bought a 4 acre 3-bedroom property within 45 minutes of Brisbane CBD (on a good day) for $315,000 ... seemed pretty good value to me having searched around for a year.
Of course if you want to live closer to the action and don't feel the need to get up close and personal with chickens then your mileage may differ.
Of course if you want to live closer to the action and don't feel the need to get up close and personal with chickens then your mileage may differ.
May 30th 2007, 10:18 am
#47
Lost in BE Cyberspace
Joined: Oct 2005
Location: Hill overlooking the SE Melbourne suburbs
Posts: 16,622
Re: $3009 (1250 GBP) average monthly mortgage
That is about what we were paying in the UK after 10 years. But we are paying about half that at the moment and that is with paying extra to clear it early.
The median house price is approaching $500K so for a first time buyer with little deposit that sounds about right. I have sympathy for youngsters looking to get in the market today. With average incomes at around $60K (say $4K take home per month) you need two incomes to buy an average house. But you could say the same in most of the developed world these days.
The median house price is approaching $500K so for a first time buyer with little deposit that sounds about right. I have sympathy for youngsters looking to get in the market today. With average incomes at around $60K (say $4K take home per month) you need two incomes to buy an average house. But you could say the same in most of the developed world these days.
House was $1/3M, we paid 2/3 as a deposit.
I can sleep at nights quite well. I don't know how people can sleep.
May 30th 2007, 12:00 pm
#48
BE Enthusiast
Joined: Feb 2006
Posts: 484
Re: $3009 (1250 GBP) average monthly mortgage
I'm on a relativley high salary for Perth and that would bugger us, with just me working, the wife would have to go out to work which defeats the all reasons for being here.
May 30th 2007, 10:35 pm
#49
Forum Regular
Joined: Jan 2004
Posts: 266
Re: $3009 (1250 GBP) average monthly mortgage
Our mortgage in principle in Sydney is $670k which equates to a $500k pcm repayment.
May 30th 2007, 11:03 pm
#50
Keeping it fairly real
Joined: Jun 2004
Location: In the sun
Posts: 32,863
Re: $3009 (1250 GBP) average monthly mortgage
I went to a presentation on Monday about affordable housing in Perth. The presenter reckoned once mortgage or rent payments exceed 30% of the monthly income problems are more likely to arise within a family, ie divorce, alcohol abuse etc etc...
May 31st 2007, 1:41 am
#51
Joined: May 2007
Posts: 5,133
Re: $3009 (1250 GBP) average monthly mortgage
Realistically it's 60 minutes to 90 on a typical commute.
Just had a search around and the cheapest in our area appears to be $380K, there are a few nice looking properties with around 3 acres hovering around $400K.
It's a minefield, I'm sure glad we aren't looking any more.
May 31st 2007, 1:44 am
#52
Joined: May 2007
Posts: 5,133
Re: $3009 (1250 GBP) average monthly mortgage
No, on second thoughts, it's crap - there are no decent restaurants, the locals are feral and I can't get a bag of Twiglets for love nor money .... stay away
May 31st 2007, 2:55 am
#54
Mozzie magnet
Joined: Jan 2004
Location: Brisbane 'burbs
Posts: 1,690
Re: $3009 (1250 GBP) average monthly mortgage
To buy a house in Sydney we were looking at a $450k mortgage. The repayments (approx 3k per month) would have been fine on two salaries but the worry would always be how we'd cope if we went down to one salary. I didn't fancy the idea much of lying in bed worrying about losing our house...
On a related point, the banks were prepared to lend us up to $1.25m. Which would have equated to outrageous monthly repayments, leaving us with no money for food, clothing, heating, light, water...
On a related point, the banks were prepared to lend us up to $1.25m. Which would have equated to outrageous monthly repayments, leaving us with no money for food, clothing, heating, light, water...
May 31st 2007, 5:28 am
#55
Forum Regular
Joined: Jan 2004
Posts: 266
Re: $3009 (1250 GBP) average monthly mortgage
opps meant $5K per month, not $500K.
May 31st 2007, 11:45 am
#57
BE Forum Addict
Joined: Nov 2003
Location: Lower Chittering, Perth
Posts: 4,646
Re: $3009 (1250 GBP) average monthly mortgage
Our is $1200 a month. Thats interest and principal. We are on track to be mortgage free in about 10 years. Paid $500,000 for house, now valued at about $650,000.
Intend staying here until the boys have moved on, then will down size.
Intend staying here until the boys have moved on, then will down size.
May 31st 2007, 12:28 pm
#58
Joined: Feb 2006
Posts: 2,474
Re: $3009 (1250 GBP) average monthly mortgage
christ I think I'd have a heart attack with that!
we still own in the UK (13 years left to go on mortgage, £500 a month, about 70% equity) and is rented out at almost double that per month
and we're buying out here - we'll probably up the UK mortgage to put down a decent deposit here as the interest rates here are far more, but we should be able to buy a very nice 3/4 bed probably with pool in St Lucia for £250k. Mortgage would probably be in the region of £750 - £800pm on a 20 year term.
but - we get paid as expats with housing allowance .... wonder if we can take the allowance and pay it towards our mortgage! (I'm guessing not!)
we still own in the UK (13 years left to go on mortgage, £500 a month, about 70% equity) and is rented out at almost double that per month
and we're buying out here - we'll probably up the UK mortgage to put down a decent deposit here as the interest rates here are far more, but we should be able to buy a very nice 3/4 bed probably with pool in St Lucia for £250k. Mortgage would probably be in the region of £750 - £800pm on a 20 year term.
but - we get paid as expats with housing allowance .... wonder if we can take the allowance and pay it towards our mortgage! (I'm guessing not!)
May 31st 2007, 9:19 pm
#59
On the Dark Side :-)
Joined: Apr 2004
Location: South Wales to New South Wales!
Posts: 3,065
Re: $3009 (1250 GBP) average monthly mortgage
Yep I'd say thats about spot on - we're an hour West of Sydney and its about the same here. Hence the reason we're in rented now and probably will be FOREVER!!!
No way in the world we could afford that.
No way in the world we could afford that.
May 31st 2007, 9:29 pm
#60
Lost in BE Cyberspace
Joined: Apr 2004
Posts: 10,375
Re: $3009 (1250 GBP) average monthly mortgage
Same for home buyers in South east qld, our kids would be in a similar postion, say son wanted to buy a house looking at $400,000 +. Thats currently about 18 times his annual income, once qualified would still be 10 X annual gross income 