Brisbane Expensive to Buy property.
Jun 20th 2005, 6:10 pm
#1
ah-beng
Thread Starter
Joined: Aug 2004
Location: ^.^
Posts: 3,113
Brisbane Expensive to Buy property.
In todays courier-mail a good article on how Brisbane is cheaper for property but it takes more of peoples weekly wages on avg , its the 2nd most expensive city in Aus after Sydney.
http://www.thecouriermail.news.com.a...5E3102,00.html
Excerpt:
Brisbane is the second most expensive city in Australia behind Sydney to pay off a home loan, according to the latest AMP/REIA Home Loan Affordability Report.
Brisbane's median house price for the March quarter was $307,500, down 1.4 per cent from the December quarter figure of $312,000.
Homeowners in Brisbane spend 32.8 per cent of the weekly pay packet servicing their mortgage.
In Sydney, where the median house price was up 1.2 per cent to $511,000 during the quarter, homeowners spend 36.4 per cent of their weekly wage on their mortgage.
http://www.thecouriermail.news.com.a...5E3102,00.html
Excerpt:
Brisbane is the second most expensive city in Australia behind Sydney to pay off a home loan, according to the latest AMP/REIA Home Loan Affordability Report.
Brisbane's median house price for the March quarter was $307,500, down 1.4 per cent from the December quarter figure of $312,000.
Homeowners in Brisbane spend 32.8 per cent of the weekly pay packet servicing their mortgage.
In Sydney, where the median house price was up 1.2 per cent to $511,000 during the quarter, homeowners spend 36.4 per cent of their weekly wage on their mortgage.
Jun 20th 2005, 6:20 pm
#2
Drunken Aussie
Joined: Jun 2003
Location: Brisvegas
Posts: 1,080
Re: Brisbane Expensive to Buy property.
tell me about it.
i've been trying to buy somewhere for almost a year now, but it would cost me nearer 40% to service a home loan, and i'm on a pretty good salary for brisbane!!
i've been trying to buy somewhere for almost a year now, but it would cost me nearer 40% to service a home loan, and i'm on a pretty good salary for brisbane!!
Jun 20th 2005, 6:31 pm
#3
Guest
Posts: n/a
Re: Brisbane Expensive to Buy property.
Some more "Nationwide" figures from that same report:
Median house prices and percentage of weekly wage needed to pay home loan:
Sydney $511,000 36.4 p/c
Canberra $366,000 19.8 p/c
Melbourne $352,000 29.9 p/c
Brisbane $307,500 32.8 p/c
Perth $275,000 25.9 p/c
Darwin $275,000 17.8 p/c
Hobart $271,000 30.4 p/c
Adelaide $270,000 27.8 p/c
And:
Total dwelling starts, a key indicator of the strength of the real estate market, fell 2.2 per cent in the March quarter, the fourth consecutive fall.
NSW lead the fall (down almost 15%), followed by Victoria (down 10.8 per cent), Tasmania (down 12.2 per cent) and South Australia (down 0.1 per cent).
They were propped up by a 9.2 per cent increase in Queensland, a 4.4 per cent hike in Western Australia and a whopping 146 per cent spurt in Canberra.
Median house prices and percentage of weekly wage needed to pay home loan:
Sydney $511,000 36.4 p/c
Canberra $366,000 19.8 p/c
Melbourne $352,000 29.9 p/c
Brisbane $307,500 32.8 p/c
Perth $275,000 25.9 p/c
Darwin $275,000 17.8 p/c
Hobart $271,000 30.4 p/c
Adelaide $270,000 27.8 p/c
And:
Total dwelling starts, a key indicator of the strength of the real estate market, fell 2.2 per cent in the March quarter, the fourth consecutive fall.
NSW lead the fall (down almost 15%), followed by Victoria (down 10.8 per cent), Tasmania (down 12.2 per cent) and South Australia (down 0.1 per cent).
They were propped up by a 9.2 per cent increase in Queensland, a 4.4 per cent hike in Western Australia and a whopping 146 per cent spurt in Canberra.
Last edited by ABCDiamond; Jun 20th 2005 at 6:36 pm.
Jun 20th 2005, 6:42 pm
#4
Account Closed
Joined: Jul 2004
Posts: 4,235
Re: Brisbane Expensive to Buy property.
And yet The Age had this article;
Tokyo world's costliest city
June 21, 2005 - 5:14AM
Tokyo remains the world's most expensive city, while fellow Japanese metropolis Osaka has risen to second place and London has slipped to third, according to a ranking of the globe's costliest cities.
In Australia, Sydney is still the most expensive city at 20th place (unchanged), with a score of 95.2 (relative to New York at 100).
Other high-scoring Australian cities include Melbourne in 68th position (80) and Brisbane in 84th place (74.9).
Across the Tasman, Auckland and Wellington move up in the rankings to 69th and 76th place respectively (scores 79.6 and 77.5) due to the significant appreciation of the New Zealand dollar against the US dollar.
American cities were absent from the top 10. New York, the most expensive of American cities, placed 13th, one spot lower than in last year's study by Mercer Human Resource Consulting.
The report, released in London, ranked cities based on the comparative cost of more than 200 items including housing, public and private transport, food, clothing and entertainment.
For example, researchers found that a bus ride in London cost $US3.66 ($A4.70), US51 cents (A66 cents) in Prague, $US1.83 ($A2.40) in Dublin and $US1.76 ($A2.30) in Paris.
Surveys are conducted in 144 cities around the globe every March. All cities are compared to New York, which is given a ranking of 100. Tokyo in comparison scored 135.
South America was home to the least expensive cities, with Asuncion, Paraguay, the cheapest of all surveyed cities.
The Mercer group put the relative cost of Japan and London down to the strength of the pound and the yen against the US dollar, and cited high housing and transport prices as a major factor in London's cost of living.
"Many of the US cities surveyed have fallen in the rankings due to the weakening of the dollar against the euro, Canadian dollar and Asian Pacific currencies," Mercer research manager Marie-Laurence Sepede said.
Because China pegs its currency to the US dollar, its cities ratings were also affected by the dollar's depreciation, moving down in the rankings.
The report also found that the cost-of-living divide between the world's cheapest and most expensive cities was narrowing.
The study, based in Geneva, is completed every year.
Top 50 cities (with last year's ranking):
1. Tokyo, Japan (1)
2. Osaka, Japan (4)
3. London, Britain (2)
4. Moscow, Russia (3)
5. Seoul, South Korea (7)
6. Geneva, Switzerland (6)
7. Zurich, Switzerland (9)
8. Copenhagen, Denmark (8)
9. Hong Kong, China (5)
10. Oslo, Norway (15)
11. Milan, Italy (14)
12. Paris, France (17)
13. New York City, US (12)
14. Dublin, Ireland (14)
15. St Petersburg, Russia (10)
16. Vienna, Austria (19)
17. Rome, Italy (21)
18. Stockholm, Sweden (22)
19. Beijing, China (11)
20. Sydney, Australia (20)
21. Helsinki, Finland (23)
22. Douala, Cameroon (25)
23. Istanbul, Turkey (18)
24. Amsterdam, Netherlands (26); and Budapest, Hungary (34) (ranked equally).
26. Abidjan, Ivory Coast (24)
27. Warsaw, Poland (76)
28. Prague, Czech Republic (49)
29. Taipei, Taiwan (31)
30. Shanghai, China (16)
31. Bratislava, Slovak Republic (44)
32. Dusseldorf, Germany (40)
33. Luxembourg, Luxembourg (39)
34. Singapore, Singapore (46)
34. Frankfurt, Germany (42)
36. Dakar, Senegal (47)
37. Munich, Germany (43)
38. Berlin, Germany (28)
39. Tel Aviv, Israel (33)
40. Glasgow, Britain (41)
41. Athens, Greece (50)
41. Brussels, Belgium (53)
43. Barcelona, Spain (56)
44. Los Angeles, US (27)
45. White Plains, US (52)
46. Madrid, Spain (61)
47. Birmingham, Britain (51)
48. Zagreb, Croatia (59)
49. Hamburg, Germany (42)
50. Hanoi, Vietnam (29)
50. San Francisco, US (38)
Tokyo world's costliest city
June 21, 2005 - 5:14AM
Tokyo remains the world's most expensive city, while fellow Japanese metropolis Osaka has risen to second place and London has slipped to third, according to a ranking of the globe's costliest cities.
In Australia, Sydney is still the most expensive city at 20th place (unchanged), with a score of 95.2 (relative to New York at 100).
Other high-scoring Australian cities include Melbourne in 68th position (80) and Brisbane in 84th place (74.9).
Across the Tasman, Auckland and Wellington move up in the rankings to 69th and 76th place respectively (scores 79.6 and 77.5) due to the significant appreciation of the New Zealand dollar against the US dollar.
American cities were absent from the top 10. New York, the most expensive of American cities, placed 13th, one spot lower than in last year's study by Mercer Human Resource Consulting.
The report, released in London, ranked cities based on the comparative cost of more than 200 items including housing, public and private transport, food, clothing and entertainment.
For example, researchers found that a bus ride in London cost $US3.66 ($A4.70), US51 cents (A66 cents) in Prague, $US1.83 ($A2.40) in Dublin and $US1.76 ($A2.30) in Paris.
Surveys are conducted in 144 cities around the globe every March. All cities are compared to New York, which is given a ranking of 100. Tokyo in comparison scored 135.
South America was home to the least expensive cities, with Asuncion, Paraguay, the cheapest of all surveyed cities.
The Mercer group put the relative cost of Japan and London down to the strength of the pound and the yen against the US dollar, and cited high housing and transport prices as a major factor in London's cost of living.
"Many of the US cities surveyed have fallen in the rankings due to the weakening of the dollar against the euro, Canadian dollar and Asian Pacific currencies," Mercer research manager Marie-Laurence Sepede said.
Because China pegs its currency to the US dollar, its cities ratings were also affected by the dollar's depreciation, moving down in the rankings.
The report also found that the cost-of-living divide between the world's cheapest and most expensive cities was narrowing.
The study, based in Geneva, is completed every year.
Top 50 cities (with last year's ranking):
1. Tokyo, Japan (1)
2. Osaka, Japan (4)
3. London, Britain (2)
4. Moscow, Russia (3)
5. Seoul, South Korea (7)
6. Geneva, Switzerland (6)
7. Zurich, Switzerland (9)
8. Copenhagen, Denmark (8)
9. Hong Kong, China (5)
10. Oslo, Norway (15)
11. Milan, Italy (14)
12. Paris, France (17)
13. New York City, US (12)
14. Dublin, Ireland (14)
15. St Petersburg, Russia (10)
16. Vienna, Austria (19)
17. Rome, Italy (21)
18. Stockholm, Sweden (22)
19. Beijing, China (11)
20. Sydney, Australia (20)
21. Helsinki, Finland (23)
22. Douala, Cameroon (25)
23. Istanbul, Turkey (18)
24. Amsterdam, Netherlands (26); and Budapest, Hungary (34) (ranked equally).
26. Abidjan, Ivory Coast (24)
27. Warsaw, Poland (76)
28. Prague, Czech Republic (49)
29. Taipei, Taiwan (31)
30. Shanghai, China (16)
31. Bratislava, Slovak Republic (44)
32. Dusseldorf, Germany (40)
33. Luxembourg, Luxembourg (39)
34. Singapore, Singapore (46)
34. Frankfurt, Germany (42)
36. Dakar, Senegal (47)
37. Munich, Germany (43)
38. Berlin, Germany (28)
39. Tel Aviv, Israel (33)
40. Glasgow, Britain (41)
41. Athens, Greece (50)
41. Brussels, Belgium (53)
43. Barcelona, Spain (56)
44. Los Angeles, US (27)
45. White Plains, US (52)
46. Madrid, Spain (61)
47. Birmingham, Britain (51)
48. Zagreb, Croatia (59)
49. Hamburg, Germany (42)
50. Hanoi, Vietnam (29)
50. San Francisco, US (38)
Jun 20th 2005, 7:21 pm
#5
ah-beng
Thread Starter
Joined: Aug 2004
Location: ^.^
Posts: 3,113
Re: Brisbane Expensive to Buy property.
Interesting that the median houseprice for brisbane is a mere 128K£ when converted to yer sterlings
Jun 20th 2005, 7:34 pm
#6
Living in Perthection
Joined: Mar 2003
Location: Wickedy WA WA...
Posts: 1,868
Re: Brisbane Expensive to Buy property.
A couple of articles I read recently that relate to the WA Real Estate market (taken from the Real Estate Institute of Western Australia)
Media Release - Perth is leading real estate market in Australia
Perth is continuing to record strong growth in residential real estate values whiles most other capital city real estate markets are flat or in decline.
The Australian Bureau of Statistics house price index for Perth in the year to March 2005 rose by 9.9%. In comparison the index for all of Australia rose by only 0.2%.
The two largest capital city real estate markets Sydney and Melbourne, recorded declines of 3.4% and 1.7% in their respective house price index for the year to March, according to the Bureau.
REIWA President Mr Greg Rossen said the ABS figures confirm that Perth is the leading capital city for house price growth in 2005.
"The real estate market in Perth and regional Western Australia is stronger than all other States because our booming State economy and job market is attracting large numbers of interstate and international migrants. The additional new arrivals are boosting demand for housing in both the rental and home purchase markets.
"We are also seeing a large share of the wealth created by the booming State economy finding its way into the investment sector of the property market.
"The heartening aspect of the latest ABS data is that the strong growth in WA property values is not excessive and more likely to be sustainable than other States.
"The WA real estate market is benefiting from having experienced a more modest and sustainable boom in property values. In contrast the larger eastern State capitals are experiencing roller-coaster markets.
"The real estate market in WA is expected to settle into more normal patterns of house growth in the year ahead consistent with longer-term trends", said Mr Rossen.
Article added by: Lino Iacomella
Media Release - House price growth in WA speeds up in early 2005
After a quiet second half of 2004 the established dwelling sales market in Western Australia has rebounded strongly. The latest report by the Real Estate Institute of WA shows that residential property sale prices in most parts of the State surged in the March quarter of 2005.
WA's powerful economy and a higher population growth rate are continuing to reflect positively on the residential real estate market in most parts of the State, according to REIWA President Mr Greg Rossen.
Mr Rossen was commenting on the release of REIWA's March quarter 2005 median sale price survey of established dwellings and vacant residential land. The REIWA survey displays preliminary results for the March quarter, which will be revised following June quarter results when details of all sale transactions recorded in the March quarter are finally reported.
"The key market indicator, the preliminary median sale price of established house sales in Perth rose 3.4% in the March quarter reaching $284,500. This represents an annual increase of 13.3% in Perth's median house price and an average annual growth rate of 12.2% over five years to March 2005.
"Several regional centres reported much larger growth in property values in the latest quarter. Bunbury led the market with an increase of 6.7% in the median sale price of established house sales in the March quarter to $238,500. In the year to March 2005 the median sale price of houses in Bunbury rose by a staggering 36.3%. Mandurah median house prices were up by 5.8% in the March quarter and 10.2% in the year to March.
"Geraldton median house prices were up 2.9% in the March quarter and 33.3% in the year to March. Kalgoorlie/Boulder median house sale prices rose 1.5% and 7.3% respectively over the March quarter and the year to March.
"Once again it is first home buyers and investors that are mostly influencing the market. The first home buyer and investor shares of the market remain at high levels, 25% and 26% total sales respectively.
"Growth in property values in Perth's more affordable suburbs continues to outstrip growth in the more expensive markets. The median sale price of established sale prices of houses in Perth's outer suburbs was up by 3.8% in the March quarter, to $257,500. Over the year to March the median house price in Perth's outer suburbs was up by 17.0%.
"Conversely the median house price in Perth's inner suburbs was up by 1.7% in the latest quarter and 9.5% in the year to March.
"The median price of unit and apartment sales in Perth rose by 3.8% in the March quarter and 12.7% in the year to March. Once again unit and apartment values rose more strongly in Perth's middle suburbs in comparison to the inner city.
"Land values also continued to climb in the March quarter. The preliminary median sale price of residential land sales in the March quarter rose by 2.6% to $141,500 in the March quarter and 18.0% in the year to March 2005," said Mr Rossen.
Mr Rossen also said that Western Australia is now benefiting from the more modest boom it experienced in earlier years compared to other States, particularly NSW and Victoria.
"Despite the solid rise in Western Australian property values in the latest quarter, WA still represents very good value in comparison to interstate markets. This is recognised by local and national investors", said Mr Rossen.
Article added by: Lino Iacomella
Media Release - Perth is leading real estate market in Australia
Perth is continuing to record strong growth in residential real estate values whiles most other capital city real estate markets are flat or in decline.
The Australian Bureau of Statistics house price index for Perth in the year to March 2005 rose by 9.9%. In comparison the index for all of Australia rose by only 0.2%.
The two largest capital city real estate markets Sydney and Melbourne, recorded declines of 3.4% and 1.7% in their respective house price index for the year to March, according to the Bureau.
REIWA President Mr Greg Rossen said the ABS figures confirm that Perth is the leading capital city for house price growth in 2005.
"The real estate market in Perth and regional Western Australia is stronger than all other States because our booming State economy and job market is attracting large numbers of interstate and international migrants. The additional new arrivals are boosting demand for housing in both the rental and home purchase markets.
"We are also seeing a large share of the wealth created by the booming State economy finding its way into the investment sector of the property market.
"The heartening aspect of the latest ABS data is that the strong growth in WA property values is not excessive and more likely to be sustainable than other States.
"The WA real estate market is benefiting from having experienced a more modest and sustainable boom in property values. In contrast the larger eastern State capitals are experiencing roller-coaster markets.
"The real estate market in WA is expected to settle into more normal patterns of house growth in the year ahead consistent with longer-term trends", said Mr Rossen.
Article added by: Lino Iacomella
Media Release - House price growth in WA speeds up in early 2005
After a quiet second half of 2004 the established dwelling sales market in Western Australia has rebounded strongly. The latest report by the Real Estate Institute of WA shows that residential property sale prices in most parts of the State surged in the March quarter of 2005.
WA's powerful economy and a higher population growth rate are continuing to reflect positively on the residential real estate market in most parts of the State, according to REIWA President Mr Greg Rossen.
Mr Rossen was commenting on the release of REIWA's March quarter 2005 median sale price survey of established dwellings and vacant residential land. The REIWA survey displays preliminary results for the March quarter, which will be revised following June quarter results when details of all sale transactions recorded in the March quarter are finally reported.
"The key market indicator, the preliminary median sale price of established house sales in Perth rose 3.4% in the March quarter reaching $284,500. This represents an annual increase of 13.3% in Perth's median house price and an average annual growth rate of 12.2% over five years to March 2005.
"Several regional centres reported much larger growth in property values in the latest quarter. Bunbury led the market with an increase of 6.7% in the median sale price of established house sales in the March quarter to $238,500. In the year to March 2005 the median sale price of houses in Bunbury rose by a staggering 36.3%. Mandurah median house prices were up by 5.8% in the March quarter and 10.2% in the year to March.
"Geraldton median house prices were up 2.9% in the March quarter and 33.3% in the year to March. Kalgoorlie/Boulder median house sale prices rose 1.5% and 7.3% respectively over the March quarter and the year to March.
"Once again it is first home buyers and investors that are mostly influencing the market. The first home buyer and investor shares of the market remain at high levels, 25% and 26% total sales respectively.
"Growth in property values in Perth's more affordable suburbs continues to outstrip growth in the more expensive markets. The median sale price of established sale prices of houses in Perth's outer suburbs was up by 3.8% in the March quarter, to $257,500. Over the year to March the median house price in Perth's outer suburbs was up by 17.0%.
"Conversely the median house price in Perth's inner suburbs was up by 1.7% in the latest quarter and 9.5% in the year to March.
"The median price of unit and apartment sales in Perth rose by 3.8% in the March quarter and 12.7% in the year to March. Once again unit and apartment values rose more strongly in Perth's middle suburbs in comparison to the inner city.
"Land values also continued to climb in the March quarter. The preliminary median sale price of residential land sales in the March quarter rose by 2.6% to $141,500 in the March quarter and 18.0% in the year to March 2005," said Mr Rossen.
Mr Rossen also said that Western Australia is now benefiting from the more modest boom it experienced in earlier years compared to other States, particularly NSW and Victoria.
"Despite the solid rise in Western Australian property values in the latest quarter, WA still represents very good value in comparison to interstate markets. This is recognised by local and national investors", said Mr Rossen.
Article added by: Lino Iacomella
