Idlewood

Hi all,

fingers crossed (!!) hopefully we will be in Perth come next August, so we,ve started to look at suburbs etc. We will be renting first as we will eb renting out our house here in UK; if all goes well and we like we will be stayinga nd then put the house up for sale. Off the proceeds from that we can then buy our new house in Perth. Couple of mixed questions for you:

We have been looking at areas like Kensington, Como and Manning. any comments? Schools, travel, community etc?
What about mortages in Australia? How much of a deposit d you need? What about repayments? Whats considered the average (??) monthly repayment for a mortage there now (say comparable to £300-400 in the UK)?

many thanks in advance

hoofie2002

All depends on where you want to live. Say a house costs $450,000 [not an vast amount for a house in Perth I can assure you] and you pay a deposit of $50,000- A mortgage of $400,000 at 7% over 30 years would be $1227 a fortnight [if you pay fortnightly it often matches the pay cycle and you pay the mortgage off quicker]. That's $2454 every month which is roughly around 1000 quid a month...quite a bit higher.

That's a very rough estimate. Como, Manning and Kensington are not very cheap [a quick search on Kensington shows a small house at $450k and then $700-800K for a larger one].

The one good thing is that rates are going down here but they are still higher than the UK.