swigski

Depends which site you read about London house prices. Some are around the 250k and some around the 350k mark. 412 is the highest I've seen. The wage is probably correct. If you use 300k to 40k it brings it down to a 7.5 ratio. And remember these are the average ASKING prices.

In Sydney the average wage for males and females is $57000. Median house price is just over 600k This is greater than 10 to 1.

The trouble is with statistics is they can be made to show anything you want depending on what point you want to prove. My favorite quote re stats is:

The average human has one breast and one testicle. ~Des McHale

ozzieeagle

I think you'll find the average fulltime wage in Sydney is a lot higher than that.... at least 67,000 Aud at present.

koalakim

Have we given up talking about the pound?

Anyway, had a look around the UK papers online last night and it would seem the UK might be doing a wee bit better but it's going to be a wobbly road to recovery. There is a lot of concern about the public debt and the fact it could be a lot higher than the gov are letting on.

Also there are concerns that the recovery figures will be better sooner than later as come Jan VAT goes up, the stamp duty reverts to normal and I think the car scrapping scheme ends.

Basically it wasn't good reading and the pound suffered yesterday as some chap said they were reviewing QE again...but some people are saying it's not working as the banks are hording money and still not lending. Another factor is that Britains are still not spending and paying off current debt - go boys spend spend, help your pound! I did my bit back in July - your turn now!

So the upshot is that it will be a while until anything looks good in the UK, meanwhile Oz is forging ahead (unless the bubble really does burst) but in the short term it looks like things will stay as they are.

I'd be happy if the pound has just stabilised - at least you know where you are a bit then! If we can squeek up a bit I'd be even happier.

It would seem like it's not worth putting your life on hold until the pound improves at the moment - we'll just have to live with what we are given!

KK

Safin

so are you taking the FX rate as it stands then Koalakim?

I certainly am not. It means putting plans on hold again but I'd rather stay in a rental wait for the pound and hopefully see the aus house prices "adjust" themselves downwards. Sods law says they'll go up but stand to lose just toooooo much to exchange right now.

ABCDiamond

No... no, when they talk UK wages it is always Full time, but when they talk Australian wages they have to include Part timers and casuals

Australian Average Male Full time total earnings:
May 2009

• Australia: $70,038 per year.
• UK: £27,552 per year.

Australian Average Mortgages:
July/Aug 2009,

• Australian Mortgage was $354,000.
• UK Mortgage was £134,500.

House Size Comparison UK-Australia
Average size of new houses in Australia and the UK

• 206 sqm Australia
• 76 sqm UK

Now for London property prices

Greater London 'Average' house price £352,355
£642,300 Detached
£351,599 Semi-detached
£311,080 Terrace

Note, those are for Greater London averages, so when comparing, one must compare to Greater Sydney also ? and not just the expensive inner Sydney...

Sydney (Nov 2008)
Median Established House Price = $465,500

iamthecreaturefromuranus

Which means at current exchange rates the average Australia wage converts to just over 35,500 pounds.... expensive staff here in Oz.

ABCDiamond

Only if you are paying them with GBP

Catch

[QUOTE=ABCDiamond;8029861]No... no, when they talk UK wages it is always Full time, but when they talk Australian wages they have to include Part timers and casuals

Australian Average Male Full time total earnings:
May 2009

• Australia: $70,038 per year.
• UK: £27,552 per year.

Australian Average Mortgages:
July/Aug 2009,

• Australian Mortgage was $354,000.
• UK Mortgage was £134,500.

House Size Comparison UK-Australia
Average size of new houses in Australia and the UK

• 206 sqm Australia
• 76 sqm UK

Now for London property prices

Greater London 'Average' house price £352,355
£642,300 Detached
£351,599 Semi-detached
£311,080 Terrace

Note, those are for Greater London averages, so when comparing, one must compare to Greater Sydney also ? and not just the expensive inner Sydney...

Sydney (Nov 2008)
Median Established House Price = $465,500[/Q

Accurate figures for london,but in the rest of the uk which accounts for far more than london £200 k will buy you a house in a far better area in the uk than $400k will buy you in Australia,in Australia it will always buy you a detached,but the majority are detached so you are not paying a "premium" for a detached as you are in the uk.

king kong

[QUOTE=Catch;8030450] Infact if you want ''premium '',you dont buy detached you buy townhouse where there is some life .They are way more expensive then the average townhouse in the uk and not much bigger , i know i build them and i wouldnt pay 800000-1000000 for one because you can walk round the corner and get a cafe latte and a bus at 8.30 pm on a saturday night .

paulry

Yes it possibly is. But something that I've noticed (and not only in regard to property prices, exchange rates, etc) is that people tend to believe what they want to believe.

ABCDiamond

Ahh, but, as they are all detached, aren't all of them at a premium price in comparison to the UK then ?

And in Australia, the smaller terraced houses, which are more like the UK ones, are cheaper than the Australian detached, therefore confirming that a premium is being paid for a Detached house here.

eg:
3 Bed Townhouse (terraced) for $220,000. This is in a Greater Sydney suburb where the median Detached House price is $370,00.


If people want cheaper than Median price, they can always drop down to a terraced house, if they choose. But most people prefer something better.

A similar price and location/distance to capital city in the UK.
2 bed terraced - Offers in Excess of £120,000

Average prices for this area are:
Detached £250,312
Semi-detached £154,560
Terrace £117,919

lapin_windstar

I hesitate to disagree with a Prof of Mathematics but there are more men than women in the world, which suggests that the mean human has slightly more than one testicle and slightly less than one breast. But this may change depending on the number of mastectomies and removed/lost/absent testicles there are in the world. Also, the median human has two testicles as does the mode human.

https://www.cia.gov/library/publicat...k/geos/xx.html

JCSUPERMOTO

I thought this thread was about the about the drop of the oz dollar?
What about posting your house hunting on another thread guys?

eugene43

who cares least its interesting

JCSUPERMOTO

Good point well made!

But i think my point is better