After a brief discussion on twitter I decided to look at the numbers of dwellings (houses, units, townhouses & villa's) on the market state by state. I used realestate.com.au for the data state by state. Note that there are other RE portals such as Domain, so this analysis isn't perfect and it doesn't tell us exactly how many dwellings are for sale in any one state, but what it should do is give us an idea of the ratio of houses under $500K to houses above $500K assuming that houses under $500K are affordable for the majority of working Australians.
What I found was:-
NSW - 15,492 homes under and 24,899 homes above. That is 38% of homes in NSW are under $500K VIC - 22,280 homes under and 17,527 homes above. That is 56% of homes in Vic are under $500K QLD - 46,211 homes under and 22,544 homes above. That is 67% of homes in Qld are under $500K WA - 21,459 homes under and 11,367 homes above. That is 65.4% of homes in WA are under $500K SA - 12,992 homes under and 3,015 homes above. That is 81.2% of homes in SA are under $500K TAS - 3787 homes under and 786 homes above. That is 82.8% of homes in TAS are under $500K ACT - 727 homes under and 746 homes above. That is 49.3% of homes in ACT are under $500K
Windswept and gusty are my impressions of the Adelaide airport having flown through it quite a few times.
Though I believe SA does have some rather nice vineyards/wineries and churches?
Yeah I've heard that too about their vineyards and wineries, unfortunately I don't really like wine nor cheese so I'm a bit out of place there. But I'd still go for a tour of them of course.
I have heard it's great for 'foodies' with lots of fresh food in Adelaide.
I personally don't know anyone from Adelaide though otherwise I'd quiz them a bit on it, it seems like those guys in SA just keep to themselves haha.
I haven't even been to the airport of Adelaide, it's the one part of Australia that I'm completely unfamiliar with.
Yeah I've heard that too about their vineyards and wineries, unfortunately I don't really like wine nor cheese so I'm a bit out of place there. But I'd still go for a tour of them of course.
I have heard it's great for 'foodies' with lots of fresh food in Adelaide.
I personally don't know anyone from Adelaide though otherwise I'd quiz them a bit on it, it seems like those guys in SA just keep to themselves haha.
I haven't even been to the airport of Adelaide, it's the one part of Australia that I'm completely unfamiliar with.
It's a small but attractive city. As herbie said easy drive to the best wine growing regions in OZ, easy drive to other tourist regions. The cold and heat would worry me as a Queenslander, but I have a relative there who got used to it, so maybe.
Jobs are the key for price growth, but prices are excellent in Adelaide, and close to the CBD.
herbie
3 Aug 2017, 04:59 PM
I 'choose' to interpret it as being Sydney/Melbourne/Canberra issues is about all.
With my 'chosen' response continuing to be "Let the f***ers sort their own issues out".
Yep, houses in those cities are a scarce resource, rationed by price.
Funny thing is if enough moved out to seek better priced accommodation in other cities, prices would likely fall.
Yep, houses in those cities are a scarce resource, rationed by price.
Funny thing is if enough moved out to seek better priced accommodation in other cities, prices would likely fall.
Sheesh, as I've commented recently Rufus, my 18 yo niece has just bought (in halvies with her olds given she neither has nor particularly wants a 'hubby' to buy with at this time Ta).
Genuinely nice 3 bedroom 1 car apartment very well serviced in terms of transport (both road and rail) plus shopping/dining/banks/movie theatres/finger nail painting joints/whatever etc, etc, etc ... blah, blah, blah. (All within under 5 clicks of the Brisbane CBD.)
And she could have done rather 'better' if she was happy to buy rather closer in - Where there is a quite genuine oversupply of apartments; But didn't want to as she felt it would be just a bit too 'high density' for her taste.)
But anyway FFS, the girl's only a third yr apprentice - Who admittedly does work quite long hours. (But will surely be able to service the repayments on her half [including the repayments on the principal].)
It's got me stuffed what's gone 'wrong' with Sydney/Melbourne - But I'm rather quite past caring these days. And very much over the experience of being told by their head f***ed Main Stream Media (and any of the whinging little crybabies that choose to reside there to their own apparent self-detriment) that it is somehow or other my 'civic duty' to care about their f***ing housing issues.
Sheesh, as I've commented recently Rufus, my 18 yo niece has just bought (in halvies with her olds given she neither has nor particularly wants a 'hubby' to buy with at this time Ta).
Genuinely nice 3 bedroom 1 car apartment very well serviced in terms of transport (both road and rail) plus shopping/dining/banks/movie theatres/finger nail painting joints/whatever etc, etc, etc ... blah, blah, blah. (All within under 5 clicks of the Brisbane CBD.)
And she could have done rather 'better' if she was happy to buy rather closer in - Where there is a quite genuine oversupply of apartments; But didn't want to as she felt it would be just a bit too 'high density' for her taste.)
But anyway FFS, the girl's only a third yr apprentice - Who admittedly does work quite long hours. (But will surely be able to service the repayments on her half [including the repayments on the principal].)
It's got me stuffed what's gone 'wrong' with Sydney/Melbourne - But I'm rather quite past caring these days. And very much over the experience of being told by their head f***ed Main Stream Media (and any of the whinging little crybabies that choose to reside there to their own apparent self-detriment) that it is somehow or other my 'civic duty' to care about their f***ing housing issues.
Sounds like your niece has bought well. One of the reasons I don't use median house prices as a buy signal is that they don't relate to what can actually be bought by someone who buys well under the market value. How do we know whether the buy of the century comes right on the bottom of the curve, lots of wonderful buys have already been made by then.
If you go back to blog sites like this and MB some years ago you will read a long continuous conga line of posters berating Sydney and Melbourne and saying they were dumps compared to overseas cities. Nowhere here was good enough for them, they deserved better, so they were determined to go and buy a cheap house in Detroit or somewhere else for almost nothing.
I've been fortunate enough to sail on Kookaburra 1 and 2 on Sydney harbour and it's a truly magnificent harbour, one of the best in the world. We have law and order, political stability, good wages, and a high standard of living. I'm very glad that I don't live in Michigan or Carolina. I wouldn't take a free house there.
The thing is the centre of the globe moved away from Europe, and now we're not so far away. People genuinely wanted to come here, and they did. If spoilt locals couldn't appreciate what we had to offer, others did.
As the song goes - "Don't it always seem to go, That you don't know what you've got 'til it's gone?"
Take risks - if you win you will become wealthy, if you lose you will become wise
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