freebo

Thing is that using the rule of thumb of 30% take home pay on rent gives you about $300 pw rent on $70k p.a. income. Since we're talking about Sydney in this thread that really doesn't get you much in the way of a rental, hence my comment that it must be tough to come to Sydney and live on the average wage.

teambwr47

The original post compared the costs in NZ and the UK to OZ for large well equipped homes. The rates are ludicrous in Sydney ...... Fact!

We're lucky in that we can easily afford long term rents of high end houses but doesn't make the rates charged any more agreeable or comparable to large cities in other countries.......

Weebie

Remember many brits are comign out on visas doing jobs that Australians are not willing to do. Many Australians earn large salaries and can easily afford to pay those prices. I have 4 friends under 25 who already push over 200k a year. It's not just Sydney its Melbourne, Perth, Brisbane there no different. Also large size is irrelavent in Australia or New Zealand and doesn't impress anyone. location is paramount. Another thing Sydney is a world city, I like wellington don't get me wrong but its the capital of esentially a second world country you can't compare the two cities.

temp444

Having just moved from Wellington to Sydney, I agree that Wgtn is 2nd world, small percentage doing really well in Govt & Corporate, everyone else living on very low wages in very basic houses (no heating, insulation, etc).

Though regarding your 4 friends earning $200/k year ... find that a bit surprising, what type of jobs?? In Brisbane ... find that highly unlikely, wages there are crap.

Bermudashorts

Are they really? Are they not just doing perfectly normal jobs.

shouldistayorgo

Jeeeeeessssss!
We are in the process of moving to Sydney......but one thing is really scary....the rents! We are looking at 1,200-1,500aud per week for something half decent....What the heck is that about.....thats more that 40,000 per year sterling!

Why are rents so high in Sydney.....A zone three house in London would be 2,500gbp per month...In sydney 3200 gbp easily....Coogee for example

As we get closer to the move I'm getting cold feet....Whats the point going to Syd if you are not close to the beach and all that.

I'll tell you something; Aus is heading for one almighty bang...this must be a bubble of some sort....I just hope our move will be worth it......

B1K3R

We were heading to Sydney and were shocked about the rent too. Then, after doing some more research on rent in Brisbane we have changed our mind and are now heading to Brisbane.

For $350 AUD a week, we have rented a 3 bed house with garage, garden and shared pool. Nothing spectacular, but decent enough to start with

Cheers
B!K3R

shouldistayorgo

Hi B1K3R,

That was quick!

We have to move to Sydney...its where the job is at.
I'm a careful chap with cash and the thought of 40k per annum in rent really sticks in my throat. After 2/3 years of renting.....OMG...I will not try to think about that. Buying a house must be sooooooooo expensive....cash buyer only I think...imagine what a mortgage must be like....scary.

But if I do not try this I will kick myself for the rest of my days...

Lets give it a year and see how we feel after that...we only come this way once and I suppose 40k might just be worth it.


Best of luck to you

B1K3R

I understand your position mate, if you have a job there, then there is no choice really.

Out of curiosity, you mention 1,200-1,500aud per week....what is that, in the CBD, near the beach close to CBD...and what type of dwelling.....big house or a small unit??

When I was looking into Sydney, friends of ours are living in Brighton Le Sands and I was looking into that area and with $500 AUD a week could find a decent 2 bedroom flat. Nothing spectacular though. The thought of living in a small flat made me feel claustrophobic though.

Cheers
B!K3R

shouldistayorgo

Wife me and two kids but would like a spare bedroom. So looking at 3-4 bedroon house. Looking at Manley/Chatsworth/Coogee. Need to be close to CBD. No pool, no need for a big garden.

It looks like you need to go above 1100 a week to get something decent. The other thing is that there seems to be very few places to rent which is pushing up the price. They are asking daft money for dumps! I guess all the locals are piling into BTL and are just keeping heads above water with rates at 4.75%.

Sounds familiar before things went pop in the UK.

If things went back to 3AUD=1GBP then we'd be quids in...but that ain't going to happen over night. Although if that did happen it means the Aussy economy would be in trouble.....swings and round abouts!!

Steve2009

Be careful of directly comparing rents in wildly diverse suburbs. It's true that rents in Brisbane are much cheaper than in Sydney but you have to think about the reasons for that. Why would anyone live in Sydney if they were directly comparable? The major consideration is earning potential. I'd be interested to see a comparison of the relative GDPs for the major cities. It's possible that renters put an irrational premium on living in Sydney or Melbourne but I don't think that's going to be so significant.

shouldistayorgo

Hi Steve,

Not sure I understand.
Are you saying that people coming to Aus should not choose Sydney?

Unfortunatley I do not have an option...the job is in Sydney.
Cheers

B1K3R

I don't think he said that. I think he meant that one should not really compare the rent in Brisbane to Sydney (like I did) cause, for example, the place in Brissy would be dodgy while the once in Sydney would be nice.

I think he meant that the reason why sometimes rent is cheap is related to a not so nice place, for example.

I guess, in your case, the areas you mentioned in Sydney are nice areas and close to CBD.

In my case, they are nice too, but not so close to CBD (30km)

Cheers
B!K3R

shouldistayorgo

Ah! it was so obvious I missed it

Ah well not much I can do about the rent...just get on with it.

Have a good xmas and 2011.

MrCro

have to agree Sydney rentals are crazy, my family live in Berowra which is the northern most train station of the Sydney Metro area (50 mins on a limited stop train)

Rental prices for a house $500 min for the ones we have looked at and you get an old asbestos cottage with 70's kitchen and pink bathroom suite!

On top of that we went to one inspection and there must have been 20 couples chasing it!!??

Then you have the application process, you have to bid how much up front you will pay and provide full set of references and bank statements etc! So far removed from renting a house in the UK!

All agents have told us that as recent arrivals from UK where we were homeowners so have no rental history then the only way to be considered is to offer to pay the full 6 months up front.

So even at the crap end of the market that equates to $1300 plus $2000 bond totalling $15000! FOR A PINK BATHROOMED, ASBESTOS CRAP HOLE!!!!!

We been here and looking for 2 months now and had no joy, went to one inspection and owners were there cleaning property as tenants had left, the wife took a shine to our 6 month old baby and we got talking, said we were keen and she said she was happy to have us as tenants. So we made application to agent next day, they said we'll let you know in 2-3 days and there were also 3 other applications.

2 weeks of messing around later by the agents and we were told day b4 christmas that the owner had selected other people, then wished us Merry Christmas! THANKS!!! Not a woman of her word!

As much as I love the city of Sydney having lived and worked here twice before I am more drawn to Brisbane where in nice Bayside suburbs like Cleveland you can rent modern 4-5 bed houses with pools for 500-600 a week! Plus they are keen for you business so no forcing you to pay so much up front, pool maintenace included, gardening done for you and more acceptable for pets if you have them like we do!

Think the new year will see the cro moving north, just a shame our container enroute to Sydney as we speak!!! Gonna be expensive moving 40' container worth north, not a hired transit job!!!!

Would be keen to hear what people had to go through to get their first rental.