Shameful honesty

Hi,

Aspiring FHB here. Certainly don't want a huge house with 2 bathrooms and none of the FHB's i know want or have bought something like the Politician says.

But don't want to buy out in the sticks either, so just saving up until we can buy a 2/3 bed house somewhere I won't get mugged (around15kms from CBD) before starting a family.

Been reading this forum for years, finally decided to joined up.
 
Colin Barnett was a senior economics tutor at the WA Institute of Technology when, in 1976, he and his then-wife upped stumps from their rented home in Melville to buy their first house on Goddard Street, Lathlain.

Land titles records reveal the Barnetts paid $31,000, plus $440 stamp duty, for the modest 1950s-style brick-and-tile house on an 820sqm block not far from the Lathlain Park WAFL ground.

As a senior tutor, Mr Barnett was certainly taking home less than the average annual wage of $10,062, but he was still earning enough - his ex-wife's occupation is listed on the title documents as "married woman" - to get a $26,000 loan from the R&I Bank.

The Reserve Bank's inflation calculator, which adjusts prices in line with the consumer price index to allow comparisons over time, reveals that the Premier's first home, including stamp duty, cost $176,099 in 2011 Dollars.

This compares to the $391,000 the house's current occupants paid for it in 2005 - it appears to have been recently renovated - and the $631,000 median house price for Lathlain as a whole.

The calculation is a stark illustration of the rampant house price inflation in the Perth market that is at the root of the city's affordability problem.
Click to expand...
http://au.news.yahoo.com/thewest/a/-/breaking/9382270/house-buying-tougher-than-colins-day/
 
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