Property prices in Perth
 

We have been going through the visa process for a year now and in that time we have seen property prices rise in perth, we are now sat back in blighty just wondering if we can still afford to live in Perth. We think we need about a $200k dollar mortgage as i will be the only one working as a Electrician. can you achieve a good standard of living while paying a mortgage of that size on a Electricians wage.

Re: Property prices in Perth
 

Sorry cant help with expectations on what an Electrician would earn, but $200K is a pretty small mortgage by todays standards, the average mortgage is now being quoted around the $300K mark but this takes into account all existing mortgages so isnt really a true representation of what people are currently borrowing on average at present. I spoke with a mortgage guy at Westpac earlier in the week and he was saying the average being borrowed now is around the $400K mark.

Re: Property prices in Perth
 

A mortgage of $200,000 will cost you about $325 per week.
You will be earning a minimum of $1200 a week as an electrician. hope this helps!!!!!!!

Re: Property prices in Perth
 

Yup Im loooking at an investment house and $400-500,000 being borrowed :scared:

Re: Property prices in Perth
 

I know scary isnt it, still if you've got the equity in your current property its almost stupid not borrowing against it to get an investment up and running. I just wish the rental returns were'nt so low over here, its crazy that you can rent somewhere for about half what it costs to mortgage :confused:
We just bought an investment prop, just a small unit in need of some major TLC, but has river views that cant be built out so fingers crossed it will be a good one long term.

I spoke to one guy the other day who at one point had $19M mortgaged across various investment property's, he's cut back to about $12M now :rolleyes:
He's done this over about a 15-20 year period, most of them now earn more in rental income than they cost in mortgage payments, so it proves you need to stick with it for the long run.
Steve :)