Shadowfox

Since I have decided in own mind that I will make a decision in a year or so about applying to Australia I have been researching things connected with it and comparing things both here and down there

I have spent the last while browsing property sites both here in Ireland and Oz to compare and contrast. It has shown me one depressing fact. I would struggle to afford even a one bed apt in this country. The average price is between E185k/E200k. Even with the equity I have now its not enough for here unless I find a wife But if I look at the real estate websites for Oz I find that I could afford to buy OUTRIGHT

Its cetainly a huge factor in my thinking. The way things are here I suspect the emigration of those priced out of the housing market will begin sooner rather then later

For those doing the maths in Australian prices the price range of a 1 bed apt in the Dublin commuter belt is $304k/$330k give or take a few bob

I feel after that

Australia Bound

Yeah but Dublin is considered one of the trendiest places to live in the whole world.

That said, i've never seen the appeal with either Dublin or London, or the bloody West End of Glasgow, have you seen the property prices there?

So, if those things don't matter to you then you're making the right choice.

Shadowfox

Trendy ??. More like pretenious !!.

Right decision ??. Thats why I'm researching it now, so I'll have a basis on which to make it when the time comes

Amazulu

I don't get this either. Although I think Ireland is a great place (Galway is brilliant), I don't get the appeal of Dublin. It's a pretty drab & grey place & is just as expensive, or even more so than London for a night out.

Shadowfox

Dublin would be about the same as London and yes it is seriously overrated. I've lived here for 15 years and in that time I have seen it decline seriously. Its now like some mutant beast running out of control

NJJ

best you dont try sydney or melbourne then lol :scared:

klmar

Explain???????????????

NJJ

party on paddy!!

Shadowfox

Indeed Explain

NJJ

OK , melbourne's not quite as Party on paddy as dublin yet but some parts of inner sydney are very much so especially at weekends.

Shadowfox

I won't be going for the partying

sackofspuds

Yup, Ireland seriously overpriced. Just remember though:

1. Oz is in the middle (at the end?) of as big a property bubble as Ireland or the UK. Prices might seem cheap from here but average house prices are 6x average earnings or thereabouts. More like 8x in Sydney.

2. If you buy in Ireland you'll be leveraging your investment, ie, you'll be buying an asset with borrowed money. If you buy for cash in Oz you won't be leveraging it. If prices continue rising the gap in prices between what you could have borrowed to buy in Ireland and what you bought for cash in Oz will grow such that you won't be able to afford to return. Conversely, if prices fall in both countries that gap will narrow.

Amanda&Paul

[QUOTE=sackofspuds]Yup, Ireland seriously overpriced. Just remember though:

1. Oz is in the middle (at the end?) of as big a property bubble as Ireland or the UK. Prices might seem cheap from here but average house prices are 6x average earnings or thereabouts. More like 8x in Sydney.

I would agree - earnings to property ratio here for a reasonable apartment in Brisbane is approx $250 - 350K, could be x6 - x8 as earnings are lower in Aus/Brisbane. Assuming you decide to borrow at least part of this amount - the mortgage will cost you more as interest rates are higher here.