I might cop a caning for this...but here goes.....
I was reading this article and had a good chuckle...particularly in regards to some of the following commentary....
http://www.smh.com.au/business/melb...ins-20110131-1aa8l.html?comments=144#comments
The article indicates that houses in Australia are now 7.2 times the median wage of 66k...or aobut 475k.
I feel the story is biased and does not consider that due to the level of participation of women most people use two incomes to purchase a house. So it might be more like the median household income of 110k.
In Sydney you have plenty of choices of properties under 400k..which a 110k income will service comfortably.though mostly units. Some of these areas are well within 15-25 klms. The REAL issue is that people these days want everything now. You could comfortably buy a 2 brm unit in Meadowbank, Belmore, Lidcombe, Homebush, or Ryde for that kind of money.
In other cities like Melbourne, Adelaide, and Brisbane you will find houses under 350k mark confortably within 15-25klms.
So perhaps an article need to be written not about housing affordablity....but the lack of will and snob factor by FHB.
I should know because I talk to people who are 25-25 yrs of age....and they will want to buy a 850k inner city terrace or californian bungalow as their first home.
Sydney like all global cities now has a group of people who will always rent. They can afford to buy in the outer surburbs but they want to live in the inner city. Perhaps the better compromise is to buy an IP in the outer surburbs but continue to rent in the inner suburbs ...this will allow them to move with the Sydney market.
I was reading this article and had a good chuckle...particularly in regards to some of the following commentary....
http://www.smh.com.au/business/melb...ins-20110131-1aa8l.html?comments=144#comments
The article indicates that houses in Australia are now 7.2 times the median wage of 66k...or aobut 475k.
I feel the story is biased and does not consider that due to the level of participation of women most people use two incomes to purchase a house. So it might be more like the median household income of 110k.
In Sydney you have plenty of choices of properties under 400k..which a 110k income will service comfortably.though mostly units. Some of these areas are well within 15-25 klms. The REAL issue is that people these days want everything now. You could comfortably buy a 2 brm unit in Meadowbank, Belmore, Lidcombe, Homebush, or Ryde for that kind of money.
In other cities like Melbourne, Adelaide, and Brisbane you will find houses under 350k mark confortably within 15-25klms.
So perhaps an article need to be written not about housing affordablity....but the lack of will and snob factor by FHB.
I should know because I talk to people who are 25-25 yrs of age....and they will want to buy a 850k inner city terrace or californian bungalow as their first home.
Sydney like all global cities now has a group of people who will always rent. They can afford to buy in the outer surburbs but they want to live in the inner city. Perhaps the better compromise is to buy an IP in the outer surburbs but continue to rent in the inner suburbs ...this will allow them to move with the Sydney market.