question about Aussie Real Estate Prices

[c10250]

Why in the heck are homes so much in Australia??  I was looking at some home prices and couldn't believe it!!!  Any city I chose was like San Francisco prices.  Heck, a tiny home in Perth went for over a million US dollars.  Crazy.

How do you guys afford it?  Honey must be selling for a LOT of money in order to pay those prices.

Ken

[Mardak]

Come on down, this is the home of the brave , the free and lots of honey. It depends where you want to live around Australia as to how much you want to pay. They are still in the process of getting mains electricity and running water hooked up to homes in Queensland though. The rest of the nation is pretty much connected to those type of services already. :evil:

[mick]

House prices are INSANE here.

Its mainly supply and demand. We are importing people at ten times the new house build rate. Our Government has relaxed foreign ownership regulations. Now the Chinese are buying everything in sight for their kids to live in when studying here.

Every minute of every day, the newspaper, TV, radio are full of stories of how you better buy now. It creates a frenzy. People are borrowing 400,000 to buy a house that cost 200,000 a year ago. The media quotes median prices, people think this is the average price. People dont realise that borrowing 400k costs a million over a 25 year loan.

The rise in sales has led to a shortage of rental properties, that drives the price up even further. People are going to get hit hard in 10 years when we go through what you have.

In Perth and Queensland, huge mining industry salaries, up to 200k a year for tradesmen, has got out of control. These areas were the lowest for house prices before the mining boom. Now they are the most expensive. People who have lived in a town all their lives are now forced out to caravan parks as the miners move in. Also these miners etc have so much money they buy a few houses and create an even bigger shortage.

Its all gone crazy the last 5 years. Take me a year to explain it properly.

Boom and bust, its going to get ugly when the bust comes.

A generation ago, people bought a modest house, had ONE car if a car at all, used second hand furniture etc. Now people want what they see on TV and wont pay back what they owe in their lifetime. Its all artificially inflated.

The Government introduced a first home buyers grant that got up to about 20 grand. This just put 20 grand on the price of a new home.

As I have said before, we have become a nation of idiots.

[Pete]

Why in the heck are homes so much in Australia??  I was looking at some home prices and couldn't believe it!!!  Any city I chose was like San Francisco prices.  Heck, a tiny home in Perth went for over a million US dollars.  Crazy.

How do you guys afford it?  Honey must be selling for a LOT of money in order to pay those prices.

Ken

Those home are actually sold here for a few hundreds dollars, but we re programmed the internet to show them 100000 times the value to deter people from wanting to move here - we love the space! :-D

[Lone]

Greed.  Some people want to buy more than one house.  It baffles me because you can only be in one place at the one time.

[c10250]

Look what 500K gets you where I live!

http://www.homefinder.com/IL/Dundee/48166733d_14n829_Lac_Du_Beatrice


Here's what 300K gets you.

http://www.homefinder.com/IL/Sleepy_Hollow/52025674d_1283_Locust_Dr


YOU GUYS ARE NUTS!!!

[Pete]

YOU GUYS ARE NUTS!!!

OI!  :)

You have 320m people and we have 20m, we have gun laws and you seem to have none, you are bankrupt and we are not, you have cheaper real estate and we do not, you still execute people and we do not, you have varoa and we do not...its awesome here and awesome aint free!  :-D

[Kathyp]

hmmmm

think i'll keep my guns and executions  :-D

the debt i could do without.....it'll take a couple more elections before we can begin to fix that mess.

[iddee]

It has been removed. I guess the word facetious is beyond the vocabulary of some.

"Facetious - Definition and More from the Free Merriam-Webster ...
2 : meant to be humorous or funny : not serious <a facetious remark> "

[c10250]

This post was not meant to start a pissing contest between AU and the US.  I was just trying to figure out why real estate is so high in AU.  None the less, I'll keep my low prices, executions, and guns though.  Oh, and by the way, with real estate prices that high, someone's going to pay the piper some day and it's gonna hurt!

[Scadsobees]

When it comes to high home prices, we've seen what the piper charges.  Just ask anybody that bought a house on the west coast of CA in the last few years.  Looks about like what's happening in Perth.

If I lived there I'd be renting...

[beemaster]

This post was not meant to start a pissing contest between AU and the US.

EXACTLY... When did this become "My Country is better than yours" post - please knock it off. Thank you all.

All countries should have pride in their homeland, and POPULATION has no place in figuring a country's worth or status. Be proud about your country without sticking out your tongues and spitting "Nanny nanny foo foo" in the other members faces.

Geoff, reading your post - the only think I thought was: welcome to Capitalism in 2010 you have all the problems we go through, minus that we call surcharging of anything a TAX, not a GRANT - a grant shouldn't be a "burden of the backs of the public" surely the conservative of the forum QUAKE at calling them a grant, no matter how cleverly worded, I think even the lefty's here would throw-up in their mouths a little.

Any way, we all have great countries, count your blessings and thank your God for that and carry on - TY.

[Kathyp]

i didn't think we were having a pissing contest.  thought we were having a little fun.  perhaps some are more sensitive than i..........

[Pete]

awwww...i thought the emoticons indicated emotion and the smilies indicated we were joking?

I agree with kathyp (well i have to, she has guns!)  8-)

[Kathyp]

what's a poms? 

got the email before the revision  :evil:

you can PM me the answer if you want to stay out of trouble

[Pete]

Pom is like Australians=Aussie, Americans=Yanks, British=Poms

Its an affectionate term... :)

[philinacoma]

 ;)

[cidersabuzzin]

Pom is like Australians=Aussie, Americans=Yanks, British=Poms

Its an affectionate term... :)

affectionate? hmmm! just the same as having cork on your hat!  :lol:
Re: property prices, try shoving 60m people into a country the size of NY state and you end up with (admittedly up market) houses costing $50million. This is not a pissing contest, just a sad reflection of where the world is going! There is a child dying every minute in Africa for lack of medicine. Off thread, I'm sorry.
cider :( 

[Geoff]

          OK  We will get fair dinkum with a question CA10250. In relation to the the house in the thread to whom does the Tax Amount: of $11,971.40 go to.
         Unless you were in the position to pay cash for the deal one would be busy peeing into the wind to pay approximately $210.00 tax on the house per week plus capital and interest payments.
          One would expect to get free gas, water, electricity, telephone and council services for a tax of that amount. Maybe I have the wrong skew on that figure , however this is not a criticism but a question.

[cidersabuzzin]

This post was not meant to start a pissing contest between AU and the US.

EXACTLY... When did this become "My Country is better than yours" post - please knock it off. Thank you all.



Any way, we all have great countries, count your blessings and thank your God for that and carry on - TY.

Now that's irony. :)