House Prices Fall by up to 15%
Dec 13th 2003, 9:05 pm
#16
Forum Regular
Joined: May 2002
Location: Christchurch NZ
Posts: 179
How much!!??
We live in the Midlands, and to hear you all talk of not being able to buy average 3 bed semi’s for even a ‘quarter million’ pounds… well!!! Excuse me, but we mere mortals can only look on in awe! And as for the household incomes mentioned… my god, are there any ordinary folk on these forums?
Around the ‘Midlands’ there are many houses well under the 100k mark, even 3 bed semi’s! And further north, there are still properties to be had for less than 50k.
It does make me mad when ‘some’ folk, who happen to live in areas of more affluence (I hesitate to say more desirable, as sometimes they are not) assume that we all earn ‘Elvis Presley’ wages, and live in Buckingham Palace!
Hell, for 140k you can buy a four bed three bath Villa with pool.. okay it is in Florida, but there you go! So…it seems that an equivalent property in any major area of Aus will be approx twice the price huh? Where is it all going to end!
Anyway… back on planet earth…
:scared:
Around the ‘Midlands’ there are many houses well under the 100k mark, even 3 bed semi’s! And further north, there are still properties to be had for less than 50k.
It does make me mad when ‘some’ folk, who happen to live in areas of more affluence (I hesitate to say more desirable, as sometimes they are not) assume that we all earn ‘Elvis Presley’ wages, and live in Buckingham Palace!
Hell, for 140k you can buy a four bed three bath Villa with pool.. okay it is in Florida, but there you go! So…it seems that an equivalent property in any major area of Aus will be approx twice the price huh? Where is it all going to end!
Anyway… back on planet earth…
:scared:
Dec 13th 2003, 9:13 pm
#17
Account Closed
Joined: Nov 2003
Posts: 1,384
Kevin,
I'm also in the midlands but you cant buy anything at all where we are for less than £140,000. We bought our house 4 years ago and are going to Oz on the strength of it increasing in price by120% in that time.
Just hope we dont have to come back as I couldnt afford much here now.
I'm also in the midlands but you cant buy anything at all where we are for less than £140,000. We bought our house 4 years ago and are going to Oz on the strength of it increasing in price by120% in that time.
Just hope we dont have to come back as I couldnt afford much here now.
Dec 14th 2003, 1:29 am
#18
Guest
Posts: n/a
Re: House Prices Fall by up to 15%
Originally posted by badgersmount
Agreed. A recent check shows that 240K buys a 2 bed terrace or an ex council 3 bed a mile or so from Twickenham. And nowhere near a station. Proper semi-detached houses are 300K - 350K with the detached ones 500K plus. A detached high end one is 800K. Aussie prices are high, but as most of us can increase our pounds we are in with a chance. Me and the Missis can now buy 2/3rds of a FAMILY home, whereas in the Uk , we can only buy 1/3 of a terrace.
badge
Agreed. A recent check shows that 240K buys a 2 bed terrace or an ex council 3 bed a mile or so from Twickenham. And nowhere near a station. Proper semi-detached houses are 300K - 350K with the detached ones 500K plus. A detached high end one is 800K. Aussie prices are high, but as most of us can increase our pounds we are in with a chance. Me and the Missis can now buy 2/3rds of a FAMILY home, whereas in the Uk , we can only buy 1/3 of a terrace.
badge
I have looked up prices of houses in my home village in Surrey which is a very expensive place to live. You can get a terraced house for around the 230,000 - 240,00 pound mark.
The houses in Australia tend to be single level with a larger block of land than England but then I only live with my girlfriend/partner, no kids so why do I need a large block of land? All it means is that I have to spend more time mowing grass!
Also in Sydney the trend is now that flats are going up everywhere. This means that suburbs are changing in character rapidly. My suburb is becoming crowded and I might move on.
What you need to do is get an extra source of income in addition to your normal job. I am not giving any related details by the way!
In addition you have to look at exchange rates in the longer term and bank on around $2 Au to the GBpound.
Dec 14th 2003, 8:20 am
#21
Banned
Joined: Mar 2003
Posts: 4,432
Originally posted by bondipom
A different market to Sydney and Melbourne especially as Victorians are heading there in droves.
A different market to Sydney and Melbourne especially as Victorians are heading there in droves.
S&P ASX 200 Property Trusts (Sector) XPJ
Dec 14th 2003, 11:19 am
#22
BE Forum Addict
Joined: Aug 2003
Location: Near Duloc
Posts: 4,638
Re: House Prices Fall by up to 15%
Originally posted by CHnJ
I understand that people will pay what the market will bear, but what I'm trying to work out is if I'm an exception in thinking that none of my circle of friends or colleagues earn enough to service a mortgage on these kinds of house. I think that a couple earning £100,000 a year between them are "rich" or at least "very comfortably well off." Or am I missing the point and actually it's UK capital appreciation that lets posters talk about buying houses that cost more than twice what we consider "normal" here. I'm not trolling, I'm just curious about other migrants financial expectations. I think we'll do very well in lifestyle terms on much less than the sums discussed here, but I'm more than willing to listen to cautionary tales.
I understand that people will pay what the market will bear, but what I'm trying to work out is if I'm an exception in thinking that none of my circle of friends or colleagues earn enough to service a mortgage on these kinds of house. I think that a couple earning £100,000 a year between them are "rich" or at least "very comfortably well off." Or am I missing the point and actually it's UK capital appreciation that lets posters talk about buying houses that cost more than twice what we consider "normal" here. I'm not trolling, I'm just curious about other migrants financial expectations. I think we'll do very well in lifestyle terms on much less than the sums discussed here, but I'm more than willing to listen to cautionary tales.
Dec 14th 2003, 2:56 pm
#23
Forum Regular
Joined: May 2003
Location: Perth
Posts: 204
£240,000 will buy you a house and boat in Perth. If you leave out the boat, then you'll get a very nice house for that price.
You get a lot more house for your money, and you really don't need to spend anywhere near that. Blocks of land are affordable, then you can decide just what size of home you want to build.
Why rush to buy? You can rent any size of house in any suburb.
You get a lot more house for your money, and you really don't need to spend anywhere near that. Blocks of land are affordable, then you can decide just what size of home you want to build.
Why rush to buy? You can rent any size of house in any suburb.
