scotty9000

House prices in Australia are extremely high in my opinion, even though the mortgage market seems less competitive than the UK. I think Northern Ireland is generally considered to be quite reasonable compared to other parts of the UK? Unfortunately renting your UK house out is fraught with risk and tax disadvantages.
If anyone sees a real estate bargain in Oz I would be happy to see it posted here.

the troubadour

Probably a snap if getting a house for under a million, at least in a reasonably decent area. I fully expect prices, regardless of interest rate rises, to continue the upward spiral . Overseas, investors, especially Chinese money 1,955 homes worth $2.5 Billion in three quarters of 2013 went to this to Chinese buyers. Hong Kond second. This is Australia wide, but the implications must surely be enormous? A total of 4,700 homes were sold to foreign investors in same first three quarters of last year. That was to the worth of 5.3 Billion $.

Getting close to impossible now in Australia to purchase a house by traditional means. IE. On an average salary , but never the less house prices boom, new cars pour into Fremantle Port on never ending cycle of ship carriers. Must say though a number of empty shops in various location, do give the hint that not all is entirely well. But make no mistake there is plenty of money around.

the troubadour

But aren't Northern Ireland prices thought to escalate with the recent UK/EU agreement ? I thought Northern Ireland had the best of both worlds? You are correct though. Australian house prices are way out of sync with worth. Some may land at the conclusion that we have been sold in one form or another. In WA , as I'm sure elsewhere the pressure is on to construct rapidly in order to address massive self inflicted housing problems. One can only imagine the quality of some, perhaps many of those builds. I don't see interest rate rises slowing the economy . Probably bad for small business though.

brits1

I knew two sides of the coin so to speak, some friends were very rich either through family “doing well” after arriving in Australia with business, others had won the Australian lotto (yes really) and also through working on the mines, oh and a couple won a payout through a work accident, the others were either trying to “keep up with the jones” I had never seen so many credit cards in a purse and others were just struggling to keep a good standard of living oh and some friends had inheritance money from family overseas in the UK, I think as long as WA has the mining and natural resources then it will always tick along I would hate to think what would happen if that was all “to go”

the troubadour

Far too much emphasis on monetary gain in WA IMO. It appears some are 'struggling' as you term it, mostly due to insane rents and house prices if that being the case. I don't know anyone struggling though and indeed most have reduced working days and get by very well. There is a lot of money floating around in this state. Obviously from various sources but as I think I mentioned, small business had appeared to be impacted with shops closed and seemingly hard to rent. We have a rather big 'cash economy' and wealth evident. Large numbers of immigrants, especially of Chinese and Sub Continent ethnicity have arrived over recent times.