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Cost of iiving comparison 2016
Originally Posted by Amazulu
(Post 11853572)
My overall COL is roughly the same with Australia probably a bit more costly Hope this helps Just checking as a sweeping statement like that may not apply everywhere :) |
Re: Reality check
Originally Posted by Beoz
(Post 11854073)
So you reckon COL would be more in Adelaide and London?
Just checking as a sweeping statement like that may not apply everywhere :) Everyone's COL is different |
Re: Reality check
Originally Posted by Amazulu
(Post 11854081)
Note the word 'my'
Everyone's COL is different |
Re: Reality check
Originally Posted by Beoz
(Post 11854200)
Everyone or everywhere or both?
The only way to compare COL between nations is by purchasing power |
Re: Reality check
Originally Posted by Amazulu
(Post 11854292)
Everyone has a different COL as we all buy different things/services and have different incomes
The only way to compare COL between nations is by purchasing power Bit like a coffee and a sandwich in Perth is a criminal price compared to Sydney Then of course there's the earning potential. A London salary nearly always outstrips a Glasgow salary. The point being country v country is an incorrect analysis. It really needs to be city v city. |
Re: Reality check
Originally Posted by Beoz
(Post 11854311)
Sure but comparing a whole nations COL is largely incorrect too. The COL of London v Glasgow is going to be massive and they are in the same country and probably more diverse than Glasgow v Melbourne.
Bit like a coffee and a sandwich in Perth is a criminal price compared to Sydney Then of course there's the earning potential. A London salary nearly always outstrips a Glasgow salary. The point being country v country is an incorrect analysis. It really needs to be city v city. According to the latest ABS figures, average incomes are higher in WA compares to NSW Earning potential is basically the supply/demand of labour and at the moment it is falling in Australia but rising in the UK The price of labour is based on the availability of labour - nothing else Hope this helps |
Re: Reality check
Originally Posted by Amazulu
(Post 11854365)
You can measure it by city but it is also done by country all the time and there is some good data out there - The EIU (The Economist) for instance publishes its Big Mac Index which measures purchasing power by nation in relation to the US. I've used it in uni assignments
According to the latest ABS figures, average incomes are higher in WA compares to NSW Earning potential is basically the supply/demand of labour and at the moment it is falling in Australia but rising in the UK The price of labour is based on the availability of labour - nothing else Hope this helps http://edge.alluremedia.com.au/m/g/2016/01/rentsyd.png Check out this rent map. The cheapest weekly rent is half that of the most expensive rent in the same city. And as rent or mortgages are the biggest spend, it needs to go beyond country and city to even the micro level of area. |
Re: Reality check
Originally Posted by Beoz
(Post 11854635)
Its done by country when it doesn't involve migrants on tight budgets figuring out if they can afford to live or not.
http://edge.alluremedia.com.au/m/g/2016/01/rentsyd.png Check out this rent map. The cheapest weekly rent is half that of the most expensive rent in the same city. And as rent or mortgages are the biggest spend, it needs to go beyond country and city to even the micro level of area. |
Re: Reality check
Originally Posted by Amazulu
(Post 11854767)
You can slice it and dice it as much as you like but it all boils down to purchasing power
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Re: Reality check
Originally Posted by Beoz
(Post 11854773)
That is the driver, for sure, which is why I get totally bemused when people say Australia is more expensive than the UK or vice versa. ..... really on purchasing power in all locations across both countries?
What you pay for houses in Australia is ridiculous and some of the worst value for money I've ever come across. It's just the rich and stupid people that drive house prices up which is great for the banks and the already rich yet total crap for the median wage earner who can now never afford to own their own place. Sitting in ivory towers blinds people to the general populace that do the majority of the menial tasks and will rarely be able to afford a comfortable lifestyle. |
Re: Reality check
Originally Posted by denzil73
(Post 11854779)
I was back in the UK in 2014 and still found it to be cheaper than Australia in most respects save for maybe new cars. I was surprised at how much house prices had gone up, cos I did look out of interest, but in general not as expensive as here plus the British build quality and what you got for your money was better value for money in my eyes.
What you pay for houses in Australia is ridiculous and some of the worst value for money I've ever come across. It's just the rich and stupid people that drive house prices up which is great for the banks and the already rich yet total crap for the median wage earner who can now never afford to own their own place. Sitting in ivory towers blinds people to the general populace that do the majority of the menial tasks and will rarely be able to afford a comfortable lifestyle. TODAY The average disposable salary in Sydney is 4,573.37 A$ or 2,274.69 £ The average disposable salary in London is 4,056.92 A$ or 2,017.83 £ The average cost to buy an apartment in Sydney outside the city centre is 8,252.49 A$ or 4,104.61 £ per sq metre The average cost to buy an apartment outside the city in London is 18,012.92 A$ or 8,959.24 £ per sq metre Perhaps you aren't referring to London nor Sydney. London isn't the UK and Sydney isn't Australia - only the most expensive parts of for property. Unless you get down into the detail of where you are referring to, sweeping statements like that are incorrect. |
Re: Reality check
Originally Posted by Beoz
(Post 11854787)
I think you just confirm my point of bemusement. You don't think house prices in London are ridiculous? Especially vs the average salary and comparing it to any city in Australia?
TODAY The average disposable salary in Sydney is 4,573.37 A$ or 2,274.69 £ The average disposable salary in London is 4,056.92 A$ or 2,017.83 £ The average cost to buy an apartment in Sydney outside the city centre is 8,252.49 A$ or 4,104.61 £ per sq metre The average cost to buy an apartment outside the city in London is 18,012.92 A$ or 8,959.24 £ per sq metre Perhaps you aren't referring to London nor Sydney. London isn't the UK and Sydney isn't Australia - only the most expensive parts of for property. Unless you get down into the detail of where you are referring to, sweeping statements like that are incorrect. No, I meant outside of London and the home counties for at least 50miles outside of London. You know, the normal parts of the world where idiots haven't increased house prices to extortionate levels. If I'd got on the property ladder 10 years ago I'd laughing now but Australia has had one of the biggest price increases within that time period compared to other countries. Blessed with the memory I have I know that average prices in Brisbane have increased 5-6 fold compared to the UK doubling. Now we could continue trying to prove each others point but I know what I know and you know what you know and we'll leave it at that :) |
Re: Reality check
Originally Posted by denzil73
(Post 11854804)
Oh you do like winning a point don't you. I mean what person in their right mind would use Sydney or London prices as a baseline?
No, I meant outside of London and the home counties for at least 50miles outside of London. You know, the normal parts of the world where idiots haven't increased house prices to extortionate levels. If I'd got on the property ladder 10 years ago I'd laughing now but Australia has had one of the biggest price increases within that time period compared to other countries. Blessed with the memory I have I know that average prices in Brisbane have increased 5-6 fold compared to the UK doubling. Now we could continue trying to prove each others point but I know what I know and you know what you know and we'll leave it at that :) A Sydney London scenario is very important for some and probably most as the populations are the largest of both countries - more people to care. And even if you live 50 miles out of London, this may still be an applicable comparison because you may commute to London to work, and you have the massive yearly train ticket to consider or not as the case may be. On top of that you still may be paying £600,000 for a 3 bedroom house in Tonbridge (not even Tunbridge Wells :)), the commute, the cost of that £3000, ouch ouch ouch. MONEY: South east house prices rise in line with London - how does your area fare? - News - Kent News As I say, I still get bemused by some sweeping statements about COL. |
Re: Reality check
Originally Posted by denzil73
(Post 11854779)
I was back in the UK in 2014 and still found it to be cheaper than Australia in most respects save for maybe new cars. I was surprised at how much house prices had gone up, cos I did look out of interest, but in general not as expensive as here plus the British build quality and what you got for your money was better value for money in my eyes.
What you pay for houses in Australia is ridiculous and some of the worst value for money I've ever come across. It's just the rich and stupid people that drive house prices up which is great for the banks and the already rich yet total crap for the median wage earner who can now never afford to own their own place. Sitting in ivory towers blinds people to the general populace that do the majority of the menial tasks and will rarely be able to afford a comfortable lifestyle. Let me get this right.... your saying this house at the same price and distance from London CBD at Charing cross is better value and built better than the one in Melbourne at the same distance and price range ? 3 bedroom terraced house for sale in Brocklehurst Street, SE14, SE14 88 Hedderwick Street Essendon Vic 3040 - House for Sale #121696138 - realestate.com.au Or maybe give your own examples ? |
Re: Cost of iiving comparison 2016
Posts moved from http://britishexpats.com/forum/austr...-check-871448/ to keep the original thread relevant to the OP.
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