willywh3r3

Hi,

Does anybody know any website that shows housing price index in major Australian Cities (Sydney, Melbourne, Brisbane, Perth, Adelaide)?

I'd like to know whether the price keeps increasing all the time and how fast the rate is?

Anyone knows how fast the increase in Sydney? Perth? or Adelaide?

Thanks
Wil

shaun/lor

hi i read on some pice of news that prices in some areas of sydney and melbourne had risen by up to 40%, which was shocking, until i realised that some areas of england had gone up by 20% and in these areas the houses were probably dearer in the first place? shaun

willywh3r3

Hi,

Why I ask this question is that price increase rate will affect very much on our buying capacity for those of us that are going to sell and buy.

Where did you get the news that Sydney's housing has increased by 40% and since when (in a year?) or in 5 years? It will make a lot of difference if the time interval is included.

But assuming that you use the same time interval for housing in Oz and UK, it means:

- if you sell your house in UK and buy in Oz and you defer your sell/buy decision by that time interval, you will be poorer by 20% of your housing price.

Let's say now (number not accurate, just for illustration only):
UK, selling 200K
Oz, buying 100K

saving 100K

One year later:
UK, selling 240K (20% increase in a year)
Oz, buying 140K (40% increase in a year)

saving: 100K (if the increase is the same you'd save 120K. In effect you'd be poorer by 20K).

Imagine if we were to stay in a place where housing price keeps droping and we were thinking to migrate to Oz. It would be nightmare if we keep waiting in selling and buying a house.


Rgrds,
Wil

dotty

Having been here over 10 years I would say that generally house prices here lag way behind the increases in the UK.

However Major cities have had big increases over the past 2/3 years. Sydney would not give you a dog box for 100K. Brisbane has been the latest hot spot, but you can still get a good house for 100K.

People I have met here have actually had the opposite problem. For example Friends from Horesham sold out there last year, a visit back last month revealed they would not buy back in now despite Brisbane growth over the last year. Same thing with friends from Hove, couldnt dream of going back now and they want too. They have simply found it too hot here. Intrest rates on the way up here which is a deliberate move by the Gov. to slow things down a bit.

I think its best not to buy here straight away if possible, rentals are cheap and very available and good quality compared to UK. I've seen shocking mistakes made by people who arrive, and enter the property market without studying it. A very pompus guy arrrived from Uk, built a house that is totally wrong for the extreme heat, rooms all wrong for Aus taste and now has a hideous house he will never sell, he too is returning to the UK, (Kids/grandparent reasons), but talk of the neighbourhood how he wont sell. I will try to find you a website that compares prices. l

Alan Collett

Hello Wil.

The Australian Bureau of Statistics is usually the first place to look for info like this:
http://www.abs.gov.au

Have a search on the ABS site and I'm sure you'll find some useful info.

Also:

http://www.realestate.com.au and
http://www.reiaustralia.com.au/

Hope this helps.

Helena

"willywh3r3" <[email protected]> wrote
    >
    > Does anybody know any website that shows housing price index in major Australian
    > Cities (Sydney, Melbourne, Brisbane, Perth, Adelaide)?

The Real Estate Institute of Oz site: http://www.reiaustralia.com.au/index.htm has
market reports which might help you.

Also, Money magazine has an online site, and they've got articles on property.
http://finance.ninemsn.com.au/money/.../education.asp It's also pretty helpful
for all sorts on info on buying a house, i.e., hidden costs, buying
vs. renting, etc.

    > I'd like to know whether the price keeps increasing all the time and how fast the
    > rate is?

Some cities more than others. Melbourne seems to have the highest rate of increase.
Different suburbs will rise at a different rate within any city. I believe Perth's
annual house price increase over the past year has been about 5 or 6%, yet certain
suburbs will be double or triple that. My suburb has had a 10 to 15% increase every
year since I've been here (3 years). And then some suburbs which have plodded along
for years with minimal or no increase will suddenly become more desireable and prices
will jump.

Good luck,

Helena

dotty

This was written in theBrisbane Courier Mail today.
Predicted increases between now and June 2005 are Brisbane 27%. Sydney 22% and Melbourne 13 %. That is expected increases over 3 years not per year. Of course tho you will always have boom suburbs that stand out from the rest.