asprilla

edit - double post

the troubadour

Or what the yuppies done to London for that matter in the late 80s and throug the 90s to be replaced by foreigners...75% or more of the London market was going to non UK nationals in 2010, when living there for awhile and looking to buy.
The Far East as termed there where the most recent big investors at the time.....

The Melbourne apartment's were largely snapped up by Chinese investors,I believe.
A shame that the time is coming when only the rich will own property and the majority will be forced to rent,in many cases to overseas investors who earned their money from who knows where.

asprilla

I've got the "guardian anywhere" app on my phone, it's great. Though some of the journalists are a bit painful to read. Too many opinion pieces for my liking.

the troubadour

The Chinese market may keep it afloat although Sydney is not the world city as is London, where Greeks,Italians etc are placing their money besides the usual Russian,Arab and Chinese suspects.

Expect when the dollar blows it will be open day for the Chinese take away of the property market in many OZ cities....

Amazulu

I'm not a big fan of The Guardian myself, too left-wing, especially on economic issues. My wife subscribes to the International edition though, and I recently read some really balanced articles about the killing of those miners in South Africa - which was a surprise given the usual lofty moral high ground that socialists try to take.

Margaret3

what? another 6 years you reckon TBH i have no regrets not buying, we're not exactly rolling in it, and have managed to save a wee bit, but not enough to buy, so no regrets here as we wouldve had to have taken on a gigantic mortgage and been stressed if anything 'unexpected' came up. Not sure who am trying to convince here ?

the troubadour

Rather extraordinary but Aussies have a deep relationship with real estate. Although wages have risen some 400% since 1980...house prices have increased by 1300% during that time,I was reading recently.

It will be harder than previous generations as things stand. I mean chaining oneself to the world's biggest property mortgage for the best part of one's life may not seem the best way to live life.....but renting here is rather unpleasant equally in many cases.

Time will tell but I suspect Australia is moving into many unchartered waters over the coming years.

moneypenny20

So just how it used to be then.

the troubadour

The Guardian has moved noticably to the centre/centre left in recent times which strikes a good balance with The Daily Telegraph which I also read and The Independent, which is more to the left these days but have a good take at times on matters.

the troubadour

Yes. Some would declare it as a return to the natural order of things.

asprilla

yeah I get that too every week. I agree it is a bit left wing, but I do like to try and read a few different sources of media to supplement my preferred source of info: the daily mail, celebrity news pages.

Amazulu

The DT is my favourite UK newspaper but I increasingly ignore their financial/economic articles as their hatred of the EU/Euro/Asia is really clouding what they have to say.

Their sports coverage is top notch.

IvanM

I read the guardian and balance it off with the telegraph. Both have good journalism although the politics can be slanted.

furbacchione

You all talk like this is all new or something. I got onto a site a few years back that tracks the mean price of houses across Australia and for the past 50 years houses have double in price every 10 years irrespective of what the business cycle was doing. I.e. if you looked at1960, 1970 then 1980... they double didn't matter if there was 2 or 3 recessions in between... Same if you looked at 1965, 1975... they doubled. There is no reason to believe that is going to change. Aussies have a very peculiar real estate market and you can't compare it to anywhere else. I.e. no where that I've lived before have I seen so many people that put their house on the market for a couple years simply saying they'll wait till the market come to them... Or where you see such a fast reaction to a government incentive. Like first time home owner grants, the prices of houses jump literally over night to take them into account. The market here is solely motivated by greed and a buying public that panics easily and completely ignores true value and I don't see that changing anytime soon.

furbacchione

I think you need to expand your view a wee bit. The entire world experienced a sudden rise in property prices at relatively the same time that had nothing to do with hippies, yuppies, yuffies, Chinese (i guess someone needs to be the scape goat so might as well be the invaders from the east), gypsies... or aliens. There isn't anyone that actually can say why property became the commodity like it has, but it has and if you don't figure out how to go with it you'll be left behind.