Interesting article on Sydney prop market
- Thread starter LukeLang
- Start date
Sydney is the most unaffordable city in Australia for property, which is why I'm moving back to Brisbane 
Brisbane is currently as affordable as Hobart according to that graph.
Brisbane is currently as affordable as Hobart according to that graph.
Sydney is the most unaffordable city in Australia for property, which is why I'm moving back to Brisbane
Maybe you need to earn more?
I think you will find that Sydney has almost always been Australia's most "unaffordable".
Haha, I like your way of viewing things: It is not that Sydney is expensive (or unaffordable), it is just that you don't earn enough money.
Better alternatives..
Honestly I really do believe that Sydney is way over priced and headed for a fall. I remember seeing Matusiks March property clock of which clearly showed Sydney at 12 O clock (Sydney being at the peak of the market).
Whereas Brisbane was listed at 6 O clock (Brisbane being at the bottom of the market). The name of the game is buying at the bottom of the market and making money when you buy not when you sell.
Honestly I really do believe that Sydney is way over priced and headed for a fall. I remember seeing Matusiks March property clock of which clearly showed Sydney at 12 O clock (Sydney being at the peak of the market).
Whereas Brisbane was listed at 6 O clock (Brisbane being at the bottom of the market). The name of the game is buying at the bottom of the market and making money when you buy not when you sell.
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Hi guys, I'm new to properties investment but have been following news and market trends for awhile now.
I think the properties price in Sydney is unaffordable to a single income to save enough and buy a proper place which he can call "home". Those who are able to afford, they either bring the money from overseas, or already have investment -- they are already established.
I think the properties price in Sydney is unaffordable to a single income to save enough and buy a proper place which he can call "home". Those who are able to afford, they either bring the money from overseas, or already have investment -- they are already established.
Hi Mag, I know many single income families/housholds in Sydney who dont bring money in from overseas and they don't have investments other than their super.
People move from all parts of Australia to Sydney for the money....and of course with a higher income they don't expect to pay "bush" rates for property there.
The market is the market, you can't argue with the fall of the hammer.
Unaffordable to some yes, but obviously not for the majority of owners or they wouldn't be buying.
It's not everybodys God given right to live in Sydney. In fact I wouldn't live there if you paid me to.
You're right. My $100k salary just didn't cut it!
I'm taking a 10% pay cut to move back to Brissy but I will still be able to buy a house < 10km from Bris CBD on 3 times as much land.
Gonna have to get used to the humidity again though
I grew up there, knew I couldn't afford it and am very happy to have moved out. Still love it there and family is there. Great place for a holiday!
Know a few people who like to winge about the fact that they have to have a bunch of kids and they have to have a big house big yard and it has to be in x suburb and they can't afford.
I try to be gentle as I remind them they have choice to change either the sqmtrage of the home, the location or the size of the mortgage. Mostly eyes glaze over at that point.
for Mag
Many of the people who are currently purchasing "unaffordable" properties, in all of the capital cities, are second and subsequent home buyers. They have paid off their first home bought say 20 years ago for a quarter of its current value, and so they have a huge deposit, in the hundreds of thousands of dollars. This makes it easily affordable to pay a seemingly unaffordable price for their next home. They didnt inherite the cash, they did it the old-fashioned way: paying off the mortgage on a modest home and waiting a long time. The "average" house these days is not what the oldies would call a modest home.
When I was 20 we lived in a 2 bedroom fibro cottage on a main road in a very undesirable suburb. It took an hour by train to get to work in the CBD. I soon found myself a job in the local industrial area five minute's drive from home. You can buy that place today under $300K.
Would someone on an average income chose to buy it and live in it these days?
Many of the people who are currently purchasing "unaffordable" properties, in all of the capital cities, are second and subsequent home buyers. They have paid off their first home bought say 20 years ago for a quarter of its current value, and so they have a huge deposit, in the hundreds of thousands of dollars. This makes it easily affordable to pay a seemingly unaffordable price for their next home. They didnt inherite the cash, they did it the old-fashioned way: paying off the mortgage on a modest home and waiting a long time. The "average" house these days is not what the oldies would call a modest home.
When I was 20 we lived in a 2 bedroom fibro cottage on a main road in a very undesirable suburb. It took an hour by train to get to work in the CBD. I soon found myself a job in the local industrial area five minute's drive from home. You can buy that place today under $300K.
Would someone on an average income chose to buy it and live in it these days?
