ezvanetree

I would predict that this is the worse time to buy a house in Perth because, other than Darwin, it is the only market that isn't flat in Australia. Because elsewhere is flat, Perth has attracted a lot of attention. In a year, Perth will be flat, if not going backwards, and Darwin will be flat in six months.

I just sold my house today in Darwin for 130,000 more than I paid 18 months ago (ridiculous--I'm embarrassed people are willing to pay that) but if I waited to sell even a few months, I would have missed the market peak. This is a very silly market driven by people who are terrified of the stock market and with a tax system based around investment properties.

But to get back to the original question: because of house prices and the premium you pay for food etc to live in Perth, I think 70,000 will be a decent wage but certainly there won't be a lot left over for extras. I would struggle on that here in Darwin and the cost of living is about the same. The worse thing would be the huge amount needed to service a mortgage and the knowledge that I would be paying this mortgage for years and years. A depressing thought.