Originally Posted by Sean101

I agree the evidence so far points to bricks and mortar being good long term. Is Aus not a special case though? Great place but propped up by export of natural resources and inward migration - heavily dependent on the global economy which is looking a bit wobbly at the minute?

Originally Posted by Sean101

I agree the evidence so far points to bricks and mortar being good long term. Is Aus not a special case though?

Originally Posted by Beoz

That said you are investing in an asset. Yes it might cost a lot up front, yes it has monthly payments, yes there could be a property crash next year, but really, in 25 years time where is going to have the greater growth, Melbourne or Cheshire?

Who knows, but buying your own home isn't about today or next year.

Do you know anyone who has actually lost out by buying a home and living in it for years?

Originally Posted by Moses2013

I agree with some of your points, but that's exactly why so many people end up losing their home. There's no guarantee that you can keep up with your mortgage payments if you suddenly lose that job the mortgage was based on, or the market crashes and salaries drop.


It's not always about growth and all people are different. The one person might be happy to live in the 50K property where you see no growth, but after 20 years that person probably ended up wealthier and has more money and less stress to enjoy life.


In reality nobody knows what will happen and I can't comment if Melbourne or Cheshire will see more growth, as every property is different and everybody paid a different price. Maybe the 50K property in Cheshire will see 100% growth if a software company relocates to the area and the 500K property in a part of Melbourne will see 5% growth vice versa.


You also have to consider other things like natural disasters in any location.

Originally Posted by Beoz

I can pretty much guarantee a property bought today will be worth more in 20 years regardless of if you didn't do your due diligence and bought in a flood plan or something silly like that.

And so many people don't loose there houses. Where is your Australian stat on that?

Originally Posted by Sean101

BE was a great resource in 2007/8 when our trip to Aus was just an idea that later became reality. On arrival we tried to help others on BE who were considering the move and needing info, but we were soon caught up in life and have not been back on here since. Until now!

I was always a bit amused by the Ping Pong Pom idea at the time, surely it's just a case of 'make up your mind'? OK maybe not haha...

We left the UK as newlyweds with no plan (except 457 and job to go to) let's give it a year. After 5 years we had kids there, lived in 4 places near Melbourne, and bought, renovated, and sold a house. We are now back in the UK for a couple of years. There's a question (or two) coming soon!

One major reason for leaving was that despite having two good jobs, the property prices were not just high but rising at a crazy rate. At one point they were going up so fast in some eastern suburbs of Melbourne that the houses were earning more per day than the family inside! After selling up in a cheaper outer eastern suburb (Rowville) we rented and went to many auctions just to see a couple of disinterested bidders (often Chinese) pay very large sums for average houses. I have since read that parts of the USA and Vancouver have had a similar thing happening. One fairly basic house at the end of our street in Mount Waverley went for 300k above the guide price of 600k. We did not want a millstone mortgage in a housing bubble, if that's what it was. 900k for a wood house on a small site next to a freeway!

We kept our little terraced house in England, and are back there. Working and doing fine but wondering if we can make Aus work again, buy a house and settle down. So here's the question if anyone can help or advise...

We have citizenship, some modest funds as a deposit and to get setup. We have health and trade skills, still registered in Aus so no barrier to work. Where (ideally VIC) could we live where the kids will be happy and fairly well educated, where there is plenty work but house prices are not daft. (We already considered Ballarat when we were there but still too much mortgage). Happy in town or country as long as not arid or overly hot, coastal would be perfect! Alpine areas fine. Thanks in advance, sorry for long post!

Originally Posted by ozzieeagle

Problem you have is if you dismiss Ballarat, then your probably dismissing the best value housing in Victoria at present.

The other thing that everyone overlooks about Ballarat is it's only 2 mins further away by train than Belgrave which is supposedly a Melbourne Suburb.

It's still seriously underpriced IMO

Colac is a interesting suggestion though and one I'd not looked at. Very close to Geelong and easy to get work... although unlike Ballarat your wife would most likely have to commute.

Originally Posted by Moses2013

Even if you can guarantee property growth, it's pointless for the person who can't afford it. If Mr Jones has a huge mortgage and loses his job after 2 years (can't afford the mortgage), he won't be bothered how much the property will be worth in 20 years.


Australia is a young country and so far people haven't experienced property crashes. Most cities see prices increase and then suddenly areas outside the city become more attractive, because the city is unaffordable.
Any area can see growth, but there's always a limit.


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Originally Posted by Still Game

However, what I do know is that you, like so many others, are torturing yourself with the shall we shan't we shall we shan't we.

Just go for it.

Originally Posted by Beoz

I don't see your point. Why would people who have their heart set on owning their own home not do so for fear of losing their job?

Get another job. We all pay to have a roof over our head one way or another.

Originally Posted by Sean101

I think you might be right about Ballarat. We liked it there but the houses a short walk from the centre were out of our comfortable reach. Having looked again, it seems there are much more affordable homes not far from the centre. And it's a big enough place to provide work. Very good point about the train... I'm wondering what's the catch haha.

Originally Posted by ozzieeagle

I've not lived in a country town, but the heresay is, It's a lot easier for kids to get into trouble in a smaller place than a larger place as there generally isn't as much to do. It's a strange contradiction but seemingly the small places in Aus have the kind of problems the inner urban places in the UK have.... especially when it comes to drugs.

Now Ballarat is a larger type of place so this effect is diluted compared to smaller places like Orbost as mentioned before.

I'm not saying this doesn't happen in the larger places, but there is much more positive choice as well which seemingly doesn't seem to occur in as prevalently Country Aus... possibly due to socioeconomics. I think you have to work a lot harder at shielding your kids from the wrong crowd in the Country than you do in the City as that route in the city has far more different levels.... more greys in other words.


The really serious ICE issues in Australia are generally in the Country. Places like Moe and Benalla etc etc.


Ballarat is one of the towns on my list for retirement....and I'd say it's the most likely place at present and that's mostly because of proximity to Melbourne and house values..... Plus I like that Victorian older housing type of feel with the convenience of plenty of shopping and business nearby.


Oh..... Echuca is one heck of a lovely place..... if your wife can get work there, then I'd seriously consider that..... Plus it's not as poor as a lot of the country towns, due to a major tourism industry.

Originally Posted by Moses2013

Because it's too expensive If you are considered a professional with a very good salary and can only just about afford a home, you certainly won't be able to afford it when you lose your job and might have to take any kind of job (minimum wage job etc.).




Many people in Europe have seen their salaries drop (recession) and the same can happen anywhere. You could say "Why would people who have their heart set on owning a Ferrari not do so? If the only car available is a Ferrari and you know you can only really afford a Fiat, you probably won't buy the Ferrari.


So the whole point you made:
That said you are investing in a car. Yes it might cost a lot up front, yes it has monthly payments, yes there could be a car crash next year, but really, in 25 years time what is going to have the greater growth, Ferrari or Fiat?

Originally Posted by Sean101

Doing a bit of research, it seems Ballarat was one of three VIC towns featured in a Four Corners programme in 2014, on the subject of ice. Seems like an awful drug and rapidly addictive. I read just now (on The Courier website from 29 Aug) that the dealers target kids and it can turn them into violent criminals and thieves who get sick and die young?

If that's a real risk, then I would think very carefully about living there with kids. But I can see the attraction as a retirement option. I would never have considered the ice angle, as it's not a big thing in the UK (but there are some very nasty 'legal highs' around here, available in high street shops). I will have a look at Echuca, thanks for the suggestion.