AlliF

Ah the mature attitude of totally pointless insults huh? Maybe I wouldnt want the reasons why your family got a bonus. I actually couldnt care less why you got it.

IvanM

Keep ROFL at your own joke but you might want to read this when you stop.
http://www.ato.gov.au/corporate/cont....htm&page=1&H1

ABCDiamond

I wouldn't say it is silly that the median prices in Sydney haven't really changed in the last 5 years.

However, when you compare the median prices between Sydney and London........

Greater London
Detached Houses £757,622 ( ie: A$1,553,125) Source

Look at Bromley at: £527,135 (A$1,080,627)

Sydney at about a median of $550,000, for houses, is much much cheaper...

IvanM

Comparing Bromley to the whole of Sydney is not comparing Apples with Apples. Maybe try Bromley to Hornsby and I am being very kind to Hornsby.

lornakool

if you earn under 1ook surely you are entitled to this stimulas that is being paid out at the moment

bcworld

An in addition comparing only detached homes is misleading. We all know that the density of properties is far higher in London and detached homes are much rarer - however for the people living in a terraced house in many parts of London I'm sure they are not less desirable than a fibro home somewhere in Sydney.

ABCDiamond

I shouldnt have added Bromley in, to avoid confusion, I should have just left it at:

Detached Houses (Median Prices)
Greater London £757,622 ( ie: A$1,553,125)
Sydney at about a median of $550,000, for houses.

However, Horsnby houses have a median of $542,000


I also noticed that the Greater London prices are differentiated as follows:

Detached: £757,622 (A$1,553,125) 2.8 x times Sydney House prices
Semi-detached: £384,470 (A$788,164) 1.4 x Sydney house prices
Terraced: £346,704 (A$710,743) 1.3 x Sydney house prices

and

Flat: £295,144 (A$605,045) 1.5 x Sydney Flat/Unit prices

Sydney Unit prices are around $400,000.

Comparing Greater London to Sydney does make London about 50% higher than Sydney.

However, where does Greater London end, compared to Sydney ?

ABCDiamond

Are there that many fibro homes left in Sydney ?

bcworld

Well this article from 2004 talks about 'Sydney’s huge western suburbs fibro belt' - 'built in the period between the war and the mid-1960s, when one in every four new houses in Australia was made of asbestos cement'. Whether or not they have all been renovated away since 2004, I don't know.

isgraham

Forget about the initial purchase price of the house you should think more about the total cost of buying which includes interest repayments over the term of the mortgage. You also don't talk about average incomes in London compared to Sydney which would make a difference to affordability in which London average salaries are significantly higher than Sydney.

ABCDiamond

A lot of those will have been demolished and replaced with Mc Mansions during the last decade or so.

Mt Druitt, near Blacktown, was one such suburb, and they were clearing them in 2001/02 just as I left Sydney.

Another article reads: Sydney's western suburbs ... Many of its homes - mostly double-storey brick houses - were built in the last few years

There has been a LOT of new houses built in the last 20+ years in the Sydney Western Suburbs.

Your average house in the area now looks like:
this for $320,000


or
this for $550,000

ABCDiamond

Averages wages is a different matter entirely, as this can depend a lot on where the people live, as that is how average wages are worked out.

The best I have done so far was the following comparison:
Australia is only about 20% higher than the UK at a 2.05 FX rate.

at an FX rate of 2.5, the countries were about the same.

IvanM

There are in Hornsby. Cottage is the industries euphamism.

isgraham

Average wages are integral to the affordability of an average house.
Your comparisons are UK/Australia not London/Sydney by the way.

ABCDiamond

I know, which is why I said what I said...

Finding average wages for specific areas is very difficult.