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House prices fall as RBA interest rate hikes bite

House prices fall as RBA interest rate hikes bite

Old Jul 31st 2010, 5:08 am
  #16  
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Default Re: House prices fall as RBA interest rate hikes bite

Originally Posted by ABCDiamond View Post
Actually the UK one was quite easy to find:
May 2009
£112,000 : Average new mortgage for house purchase
£40,000 : Average income of new mortgage holders

A similar % to Australia.
Both being about 2.8 times the income for the average buyers.
ABCDiamond, stop ruining it for all the people that want the bubble to burst.
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Old Jul 31st 2010, 5:30 am
  #17  
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Default Re: House prices fall as RBA interest rate hikes bite

Originally Posted by ABCDiamond View Post
I can give you the average new mortgage figures for 2010.
  • $304,400 NSW
  • $288,800 ACT
  • $288,000 WA
  • $286,900 NT
  • $286,400 QLD
  • $275,300 VIC
  • $247,700 SA
  • $179,400 Tas

And based on that, together with the average home buyers having an income of $100,000+. It doesn't seem that the multiples quoted will affect those average buyers.
$300,000 lol, If we all want to either a) live in a shed or b) live in the sticks!
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Old Jul 31st 2010, 5:34 am
  #18  
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Cool Re: House prices fall as RBA interest rate hikes bite



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Old Jul 31st 2010, 5:58 am
  #19  
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Default Re: House prices fall as RBA interest rate hikes bite

Originally Posted by markbhx View Post
$300,000 lol, If we all want to either a) live in a shed or b) live in the sticks!
That is the average new Mortgage, not the House price.

Assume they get 80% mortgage, then NSW is $380,000 for a house..

Depending on Location, this one is 1 hour from Sydney, asking price $380,000.
If one hour travel is in the sticks, and you do not want that, then you need to go above the Average prices and mortgages, or get a smaller property.



A small 1 bedroom apartment, with little travelling for Sydney CBD, for $380,000


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Old Jul 31st 2010, 8:39 am
  #20  
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Smile Re: House prices fall as RBA interest rate hikes bite

Originally Posted by markbhx View Post
$300,000 lol, If we all want to either a) live in a shed or b) live in the sticks!

Like ABC its all about Choices, for $300,000 you will get a nice 3 BR house in Katoomba but if you want something similar in say Baulkham Hills it will cost you $550,000.

If say the property market burst like some people think the house in Katoomba maybe then only be worth $250,000 but the house in Baulkham Hills will probably be worth $530,000 -$550,000.

at the same time a house in Perth worth $500,000 now might only be worth $350,000 after a bubble burst.

That's the choice if you save your money and wait till the property bubble bursts to get a real bargain you have then make a decision where exactly you want to live to get the best value for your money.

Choices Choices
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