Re: Australia's Property Bubble...
 

:rofl: Well, if I can get him away from schmoozing his way into the first class lounge for the brandy and cigars. One for the road, er, boat...you know...

PSA: Do not drink and row...

Re: Australia's Property Bubble...
 

i can't help but burst some bubbles...

http://www.umnet.com/pic/diy/screens...ble--30263.gif

Re: Australia's Property Bubble...
 

quick everyone who is happy in Australia, sell up and buy in a country you do not plan to live in again.

It will be a lovely place- no use, but lovely.

Re: Australia's Property Bubble...
 

huh?? Buy cheap in the UK? Have fun in Mosside or Beeston. £228385 is the average house price in the uk, ave price in Aus is around $450k (don't know how they calc this and whether it includes rural cheaper areas bringing it down, but seems a logical/reasonable figure based on what's available). Using NAE of around £30k vs $75k Aus still seems cheaper and then consider what you get for an average house - in the UK 3 bed semi, 1 bathroom, garden often small, in Aus 4 bed detatched, ensuite, often separate lounge/theatre room, often study on a 600m2+ block (long as you're not buying a current new build) - to get that kind of room in UK in a decent area you'd probably pay £450k!! - certainly here in york - we were looking at £300k+ just for the previous UK description in the nicer parts of York.

Re: Australia's Property Bubble...
 

Some people compare only the expenses and don't compare the income.

Some people fail to realise that higher standards of living and better lifestyle come at higher cost.

People who love to whine ad nauseam should go back to where they came from.

Re: Australia's Property Bubble...
 

The actual affordability of a property, especially for a mum and dad, comes down to the cost of living in a certain economy.

On most factors the UK is far cheaper than Australia to live.
Therefore when comparing what you can buy like for like (which is far too simplistic) in the UK and Oz, does not account for these factors.

What you need to consider, is what repayment is manageable based on the other economic pressures.

Re: Australia's Property Bubble...
 

Who is whining?

Stating an economic reality is exactly just that.

What exactly is a better lifestyle and higher standard of living anyway? Horses for courses, is it not?

Re: Australia's Property Bubble...
 

i'll go back watching gay p0rn...
or calculating stuff based on exchange rates instead of income/expense ratio...


:popcorn:

Re: Australia's Property Bubble...
 

http://www.heraldsun.com.au/news/mor...-1226249691558

The 'experts' in the 'city' who refute analysis like this, are those who usually have a vested interest - bankers, brokers, developers etc

Don't say you weren't warned.

“If you are homeowner, be cautious, get rid of your debt, consider selling if you don’t plan to be in your house for more than seven years and downsize or become a tenant," he said :getcoat:

Sydney real estate agent Charlie Bailey of Ray White Inner West believes there will not be a burst because there is no bubble. :flypig:

Re: Australia's Property Bubble...
 

true - but even with the expenses (my 'research' isn't as comparable here mind you) - our mortgage taken out at £120k was £750 per month, and a mortgage of $400k would apparently cost about $3k pm (that was about 7.5% I think) - dun't sound too bad even with the way higher interest :thumbup: what I'm saying here is I think Aus is expensive but the UK is at least equally expensive - the 'whiners' are likely to get just as much of a shock in the UK as the 'rose tinters' will get the other way!

(and I wouldn't mind knowing why making comparisons of what can be afforded and therefore what is obtainable lifestyle in comparison to existing lifestyle is 'simplistic')

Re: Australia's Property Bubble...
 

and the RBA has much room to move. :rolleyes:

Re: Australia's Property Bubble...
 

That is not simplistic: the comparison of two house prices in two different counties is simplistic - as has been pushed above.

Re: Australia's Property Bubble...
 

Property in London has always provided 5-6% return on investment so it's a safe bet. I did look at buying an apartment on Magnetic Island a while ago but it was $600k with a rental yield of $400 per week which is very poor. Haven't looked at higher volume rental markets because I think the Aussie economy is now going to slide as China slows.

I understand people buying because they don't like renting, want stability and plan on staying for a long time but when you see the long term imprisoning effects of negative equity timing that purchase is important.

Re: Australia's Property Bubble...
 

Can you not just piss off to some 'property forum' and tell everybody there about the "economic reality"? I'm sure you'll fit right in.

We've had these sort of threads for nearly ten years, telling us all about the "economic reality" of the property bubble and we are all heartily sick of them.

Re: Australia's Property Bubble...
 

We have just bought land and are going to build on it. It is somewhere we plan to be for a long time. When there are housing crashes, negative equity only bites if a)you can no longer afford the repayments (we never overstretch our mortgage) or b)if you have to move. Over years and years the market goes up and down. Like all investments there is some risk but we believe this far outweighs giving our money to a landlord for years on end............
We also have nothing on credit at the moment and intend to try and stay this way.

And I don't care if anyone thinks this is a simplistic view, I'm just fed up with all the doomsayers. You can run anything down if you try!