House prices in Perth
Apr 29th 2006, 9:59 am
#31
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Joined: Feb 2006
Posts: 880
Re: House prices in Perth
Originally Posted by sunshine9599
hi
i'm hearing what your saying sunny glesga, we are in hamilton looking at selling at the same price as you with same outstanding mortgage. OH is a sheetmetal worker and we are a bit unsure of what he'll earn when we get there. I've been looking at the house prices and worring but i'd rather be poor there than here so you just have to go for it....
i'm hearing what your saying sunny glesga, we are in hamilton looking at selling at the same price as you with same outstanding mortgage. OH is a sheetmetal worker and we are a bit unsure of what he'll earn when we get there. I've been looking at the house prices and worring but i'd rather be poor there than here so you just have to go for it....
Apr 29th 2006, 10:21 am
#32
Melbourne Australia
Joined: Feb 2006
Posts: 4,169
Re: House prices in Perth
Estate agents aren't economists and talk only spin. Reality is the world property market is inflated and corrections do not come "slightly" as they would like you to believe. Last minute rises before a correction are always inevitable - just dont be the poor sod at the top.
At the peak of 2003 the agents were flat out until 6 or even 7pm on a saturday night. Today the doors were all shut at 2pm in over 7 agencies we visited. My example is based on the same time of year - at the same agencies.
At the peak of 2003 the agents were flat out until 6 or even 7pm on a saturday night. Today the doors were all shut at 2pm in over 7 agencies we visited. My example is based on the same time of year - at the same agencies.
Apr 29th 2006, 1:29 pm
#33
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Posts: 880
Re: House prices in Perth
Originally Posted by thebears
Estate agents aren't economists and talk only spin. Reality is the world property market is inflated and corrections do not come "slightly" as they would like you to believe. Last minute rises before a correction are always inevitable - just dont be the poor sod at the top.
At the peak of 2003 the agents were flat out until 6 or even 7pm on a saturday night. Today the doors were all shut at 2pm in over 7 agencies we visited. My example is based on the same time of year - at the same agencies.
At the peak of 2003 the agents were flat out until 6 or even 7pm on a saturday night. Today the doors were all shut at 2pm in over 7 agencies we visited. My example is based on the same time of year - at the same agencies.
Apr 29th 2006, 3:19 pm
#34
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Location: Neither here nor there.
Posts: 278
Re: House prices in Perth
For those that slag off some of the poorer areas you have to remember what people may of come from.
I have lived on a couple of notorious estates here but I saw nothing in Perth which compares to some of the inner city slums we see in the U.K.
I know that Perth does have so called "bad" estates but nothing compares to the rough estates here in the U.K like the high rises in Hackney for example.
If lived there then the so called rough areas of Perth would be like living in toytown.
I also work in houses here in the U.K and most people try hard and as said not everyone can afford to live on a nice estate and they still work bloody hard.
I have lived on a couple of notorious estates here but I saw nothing in Perth which compares to some of the inner city slums we see in the U.K.
I know that Perth does have so called "bad" estates but nothing compares to the rough estates here in the U.K like the high rises in Hackney for example.
If lived there then the so called rough areas of Perth would be like living in toytown.
I also work in houses here in the U.K and most people try hard and as said not everyone can afford to live on a nice estate and they still work bloody hard.
May 1st 2006, 11:49 am
#35
Sydney- North Shore
Joined: May 2004
Location: Sydney
Posts: 387
Re: House prices in Perth
Originally Posted by halcyon 52
For those that slag off some of the poorer areas you have to remember what people may of come from.
I have lived on a couple of notorious estates here but I saw nothing in Perth which compares to some of the inner city slums we see in the U.K.
I know that Perth does have so called "bad" estates but nothing compares to the rough estates here in the U.K like the high rises in Hackney for example.
If lived there then the so called rough areas of Perth would be like living in toytown.
I also work in houses here in the U.K and most people try hard and as said not everyone can afford to live on a nice estate and they still work bloody hard.
I have lived on a couple of notorious estates here but I saw nothing in Perth which compares to some of the inner city slums we see in the U.K.
I know that Perth does have so called "bad" estates but nothing compares to the rough estates here in the U.K like the high rises in Hackney for example.
If lived there then the so called rough areas of Perth would be like living in toytown.
I also work in houses here in the U.K and most people try hard and as said not everyone can afford to live on a nice estate and they still work bloody hard.
May 1st 2006, 12:09 pm
#36
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Joined: Feb 2006
Posts: 880
Re: House prices in Perth
Originally Posted by Sunny_Glesga
Well, as it stands now i have a mortgage on a 3bed Semi in Glasgow roughly 300msq. I originall bought the house for £50,000 in Dec 1995. I have since added to te property and build boundary wall/fencing at front and now have 4 bedromm semi
The valation of tis Now is around the £120,000 so htis would give us a bit to take with us, prob once all the fees for house and all the travel expense to OZ we will look to put down £50,000/ $120000 on a house
lets say we were to look at having same size mortgage over there we then be looking at say $120000
SO! the money we would have and the mortgage we would have to get to keep similar to what we pay now would be $240000
Just 1 Q, What would we get for $240000
Unlike a lot of ppl on here that may have paid £150000 for their house and now can sell for £350000 it looks like we will find to hard to get on the property ladder withought paying much more that we would hope to
I need to laugh when i hear stories, OHHHHHh i had to drop my house price by £20000 then another £10000 FFS
If i want to live in a decent are it looks like i would have to look for maybe $250-280K as a Mortgage yes?
This also as far as i can see would have to come with an income of roughly $90000 Per Annum
OK! so i`m a Plasterer, Will i earn that in Perth or WA anywhere?
A few comments would be good
The valation of tis Now is around the £120,000 so htis would give us a bit to take with us, prob once all the fees for house and all the travel expense to OZ we will look to put down £50,000/ $120000 on a house
lets say we were to look at having same size mortgage over there we then be looking at say $120000
SO! the money we would have and the mortgage we would have to get to keep similar to what we pay now would be $240000
Just 1 Q, What would we get for $240000
Unlike a lot of ppl on here that may have paid £150000 for their house and now can sell for £350000 it looks like we will find to hard to get on the property ladder withought paying much more that we would hope to
I need to laugh when i hear stories, OHHHHHh i had to drop my house price by £20000 then another £10000 FFS
If i want to live in a decent are it looks like i would have to look for maybe $250-280K as a Mortgage yes?
This also as far as i can see would have to come with an income of roughly $90000 Per Annum
OK! so i`m a Plasterer, Will i earn that in Perth or WA anywhere?
A few comments would be good
May 1st 2006, 1:35 pm
#37
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Posts: 304
Re: House prices in Perth
Originally Posted by sassenach
yes i believe you can if you work on price ,either do that or the both of you have to be working .A plasterer will earn 300 a day on wages .
Do you happen to know the average wage of a metal machinist? We are hoping to have a mortgage of no more that 150K, well that's our goal anyway, I don't know if we'll end up with a big enough down payment on a house for that. Any help in the average wage would be great, and also what are the average monthly bills, for electricity, gas, water etc.? Starting to panic a little as I watch the housing prices begin to rise out of reach. We'll be in Perth in June of this year.
Nicanjoe
May 1st 2006, 3:53 pm
#38
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Joined: May 2004
Location: Tropicana
Posts: 102
Re: House prices in Perth
The average house hold annual income in Perth, WA would be in the region of AUD40K and the median price of a house in Perth would be in the region of AUD300K. If so, how on earth could a house hold with an annual income of AUD40K afford a AUD300K house??? imagine if I need to raise a 85% loan with a tenure of 25 years. I could be paying the bank in the region of AUD1600 per month in order to service my loan. Is the individual able to survive with a disposable income of AUD1000+ per month in Perth???
May 1st 2006, 4:41 pm
#39
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Re: House prices in Perth
Originally Posted by nicanjoe
Do you happen to know the average wage of a metal machinist? We are hoping to have a mortgage of no more that 150K, well that's our goal anyway, I don't know if we'll end up with a big enough down payment on a house for that. Any help in the average wage would be great, and also what are the average monthly bills, for electricity, gas, water etc.? Starting to panic a little as I watch the housing prices begin to rise out of reach. We'll be in Perth in June of this year.
Nicanjoe
Nicanjoe
I wouldn`t worry too much if you are going to be there in June.
When we was at a friends in Perth for a barbie we asked about the bills and they told us. I know I am of little use as I cannot remember but I was amazed at how little the utility bills were and there was no huge council tax bill like the 1200 we pay at the moment.
Also it does sound silly but there are other little benefits moneywise like not needing winter coats and shoes each year for the kids and yourself. Our friends said they had virtually no winter wardrobe and when we were there it was constant shorts, t shirts and flip flops, I know it does get cold but nothing jeans and a jumper wont sort out.
It is all relative but we found you could do things on the cheap unlike the U.K
Take this weekend, it has rained here so we are unable to go for a walk e.t.c .The only entertainment option is indoors where it will be packed with people and at a high cost.I know oz is far from utopia and it has its downsides being so far from the U.K but it is these little things what may help people decide to emmigrate.
May 2nd 2006, 3:54 am
#40
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Re: House prices in Perth
Originally Posted by dave_wong
The average house hold annual income in Perth, WA would be in the region of AUD40K and the median price of a house in Perth would be in the region of AUD300K. If so, how on earth could a house hold with an annual income of AUD40K afford a AUD300K house??? imagine if I need to raise a 85% loan with a tenure of 25 years. I could be paying the bank in the region of AUD1600 per month in order to service my loan. Is the individual able to survive with a disposable income of AUD1000+ per month in Perth???
Very good point.
Actually I also came up with your figure. I also asked this forum about the taxes. The 40k PA salary is before tax. So the net take home will be lower.
Based on the figures, my fear is this. If the market rate is up at this moment of time, committing for a mortgage will be too much of a risk, given the average salary rates in WA.
If the property value comes down in the future, employees will be ended up paying high mortgage payments, living in a very tight cash flow (may be with credit cards) and at the end facing a capital loss from property.
I would like if anyone living in Perth can explain us about our calculations and where we have calculated it wrong..
thanks
May 2nd 2006, 4:10 am
#42
Breeding little aussies
Joined: Mar 2005
Location: Perth WA
Posts: 963
Re: House prices in Perth
Originally Posted by dave_wong
The average house hold annual income in Perth, WA would be in the region of AUD40K and the median price of a house in Perth would be in the region of AUD300K. If so, how on earth could a house hold with an annual income of AUD40K afford a AUD300K house??? imagine if I need to raise a 85% loan with a tenure of 25 years. I could be paying the bank in the region of AUD1600 per month in order to service my loan. Is the individual able to survive with a disposable income of AUD1000+ per month in Perth???
I would be very surprised if your figure about the average income is correct do you have a link for where you found it as i'd be interested to read it. You find that many families have 2 incomes. You also have to take into account centrelink payments too as these will also be factored into your borrowing power, as will the number of dependant children you have.
As for finding a house for $300k, i wouldnt think you would have many options within the metro area.
Lynn
May 2nd 2006, 4:20 am
#43
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Re: House prices in Perth
$40k is more likely to be the average NET household income.
Last edited by NickyC; May 2nd 2006 at 4:27 am.
May 2nd 2006, 5:12 am
#44
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Joined: Sep 2002
Location: Ilukapool. WA
Posts: 12,467
Re: House prices in Perth
Originally Posted by halcyon 52
... I was amazed at how little the utility bills were ...
There's also petrol - through the roof, medical/household/car insurance goes up 10% a year.
It's not a cheap place to live.
May 2nd 2006, 6:11 am
#45
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Re: House prices in Perth
My sister works with a recruitment agency based in Perth. I am currently in Kuala Lumpur and will be emigrating to Perth early 2007. My sister revealed to me on the average household income is in the region of AUD45K. I think the figure is quite accurate as she is attached to the relevant industry and should know her figures well.
Is anybody able to assist me on the followings....
1. I have a wife & 2.5 year old kid. My wife will not be working in Perth. Therefore, what is the quantum that my family will be able to obtain from the Aussie govt as family/child support??
2. I know that we will not be able to buy a house in metro Perth with AUD300K. I am thinking of residing in the northern suburbs ... and I know they are NOT cheap too!!! Is a normal household with an income of AUD45K able to afford a AUD300K house in WA??? (assuming 85% financing by the bank).
3. What is the nett purchase price of a car ... say RRP of AUD21,990? There is always a statement "RRP does not include taxes, insurance ..... blah! blah! blah!"
Thanks. Dave.
Is anybody able to assist me on the followings....
1. I have a wife & 2.5 year old kid. My wife will not be working in Perth. Therefore, what is the quantum that my family will be able to obtain from the Aussie govt as family/child support??
2. I know that we will not be able to buy a house in metro Perth with AUD300K. I am thinking of residing in the northern suburbs ... and I know they are NOT cheap too!!! Is a normal household with an income of AUD45K able to afford a AUD300K house in WA??? (assuming 85% financing by the bank).
3. What is the nett purchase price of a car ... say RRP of AUD21,990? There is always a statement "RRP does not include taxes, insurance ..... blah! blah! blah!"
Thanks. Dave.