pomtastic

Median in Sydney is what, $520K right now. Not $1 million as article states - Sydney wide, unless they are going to double in the next couple of years??!! LOL

ABCDiamond

Cronulla
2003 House Prices $ 911,000
2009 House Prices $1,050,000
UP 15.26%

NSW
2003 Wages $1,004.60 pw
2009 Wages $1,254.30 pw
UP 24.86%
ABS: Earnings ; New South Wales ; Persons ; Full Time ; Adult ; Total earnings ;

ABCDiamond

I agree, house prices just haven't gone up have they.

coolshadows

what are the average earnings for Cronulla from 2003 to 2009?

Have they increase likewise? I'm assuming that Cronulla is better than average when it comes to a place to live, so why state the NSW average??

pomtastic

No, sideways for the next 5-10 years and house price values eroded by inflation so in real terms 30-50% drop over that time.

That's my crystal ball outlook.

ABCDiamond

No figures available for individual suburbs, only for State levels. Suburb level rates become available after about 4 or 5 years I think, when issued by the ATO.

On average though, Cronulla's wage increases should be about the same per-centage average as NSW, maybe a little different, but not enough to make a massive change.

These were the average wages in 2005-2006 from the ATO figures.

$ 47,911 Sydney SD (The NSW average per ABS was $45,650 [all persons] or $58,926 full time only)

$100,177 Mosman
$ 82,699 Hunter's Hill
$ 80,568 Woollahra
$ 72,643 Ku-ring-gai
$ 71,266 North Sydney

ABCDiamond

That is almost what has happened between 2003 and 2010. No crystal ball needed for the past

swigski

And what were the median house prices in those areas over the same period. I bet at LEAST 6-8 the wage.

swigski

If it is almost what happened, what actually DID happen?

ABCDiamond

They went up a little bit... which is not exactly the same as your sideways.. is it.

coolshadows

I guess when you are considering the price of houses, you have to take into consideration the quality too.

I saw a big difference between houses under $300k to those over $300k when looking round the southern suburbs of Adelaide last year - not just the number of rooms and/or bathrooms.

swigski

When did I mention sideways??

Keep it together old chap!

swigski

We've seen a lot of data recently about rising house prices and increasing consumer confidence, all of which would suggest buoyant property markets. But the opposite is the case. Read below article:

http://www.smh.com.au/business/mortg...0131-n6j5.html

ABCDiamond

The statement was:
My reply to that statement was:
The reply to my statement above was:
My further to that was:
When one is in a tag game, the tag team have to accept the rules...

MartinLuther

This isn't quite how I thought the group hug would go ((((()))))