A home should be affordable. It's good for the owner-occupier, their family, marriage... might even permit some innovative risk-taking ventures low to zero debt would permit.
Then there's the hiring of local tradies to work on home improvement. Results in more income being spread around. Results in people living in a healthier house. Reduces illness and costs to the health system etc. etc.
But na.
It depends on the definition of "home", I mean if a "home" is a 4 bedroom house on a 1/4 acre block within 10km of the cbd you simply will not be able to fit 1,000,000 + of them in that space,
I think Australians need to expand what they are willing to accept and where it's located.
Dude, I don't know anybody who expects a 1/4 acre block with a house on top to be an acceptable home. Well, we all want that for sure... just people tend to set their sight a bit lower given their $1M budget.
From my browsings, a detached home averages some $1,000 a metre for a clad/fibro home; for brick McMansion it's about $2K a metre. And that's some 30 to 40k from the CBD. Or however far Fairfield/Cabramatta is.
Within some 15km, they go for about $1.5K to $2K or more.
Flats... new ones goes for $600K to the high $700K for a 1 bedroom, or some 100m2 or less. The price per m2 is a bit crazy there, why I don't know. It's not that much closer to the station or anything. Maybe a couple hundred metres.
For old, maybe 50years+ flats... 2 bedrooms you're looking at $450K to $550K.
So I don't think apartment are cheap. If anything, it's more expensive than a detached house. Just it's within the budget of a family with two income so people just thought it's affordable to a $1.5M detached with some 120m2 of living space and a lawn to mow.
Driving around lately and you'll noticed more truckies and tradies are starting to park their truck and utes either on the street or the front of their duplex driveway. That's just accidents or stolen gears waiting to happen.
With most of the wages going to mortgage repayment, not a whole lot of businesses will do much business. The banks will do pretty well until it all collapses, then all those winnings are flushed downt he toilet anyway... so we're in for a once in two generation ride soon enough I reckon. It's going to be like the late 80s all over again.
Dude, I don't know anybody who expects a 1/4 acre block with a house on top to be an acceptable home. Well, we all want that for sure... just people tend to set their sight a bit lower given their $1M budget.
From my browsings, a detached home averages some $1,000 a metre for a clad/fibro home; for brick McMansion it's about $2K a metre. And that's some 30 to 40k from the CBD. Or however far Fairfield/Cabramatta is.
Within some 15km, they go for about $1.5K to $2K or more.
Flats... new ones goes for $600K to the high $700K for a 1 bedroom, or some 100m2 or less. The price per m2 is a bit crazy there, why I don't know. It's not that much closer to the station or anything. Maybe a couple hundred metres.
For old, maybe 50years+ flats... 2 bedrooms you're looking at $450K to $550K.
So I don't think apartment are cheap. If anything, it's more expensive than a detached house. Just it's within the budget of a family with two income so people just thought it's affordable to a $1.5M detached with some 120m2 of living space and a lawn to mow.
Driving around lately and you'll noticed more truckies and tradies are starting to park their truck and utes either on the street or the front of their duplex driveway. That's just accidents or stolen gears waiting to happen.
With most of the wages going to mortgage repayment, not a whole lot of businesses will do much business. The banks will do pretty well until it all collapses, then all those winnings are flushed downt he toilet anyway... so we're in for a once in two generation ride soon enough I reckon. It's going to be like the late 80s all over again.
They could get a big house on a 1/4 acre block if they chose not to continue playing sardine in the capital cities
Not really.
Looked at Campbelltown, you know where that is right? Over an hour to the city - Tolled freeway?
.
You know Australia is a big place right, and there are places out side the capital cities past Campbell town, hahaha.
https://www.realestate.com.au/property-house-nsw-toormina-126938578
Do they even have schools there? jk. And it's number 4. Unlucky number, haha
Just looked up Austral, just outside of Liverpool. I didn't know you could sub-divide land to some 250m2 per lot. They don't even allow land that small in Fairfield. Minimum is 450m2 from memory.
What the heck can you build on 250m2? Unless they allow you to build over the entire lot... if Floor Space Ratio is 50%... for some $300K, slap on another $100K for a garage/house... might as well buy a flat near civilisation a bit.
My whole point is that if the population was willing to move out over the blue mountains, or past the Hawkesbury river, we could have much lower property prices, its mainly because we have a growing population, boosted by immigration intent on playing sardines.
Sure people prefer to live closer to the city where transport, amenities and jobs are easier to come by. .
What's really needed to make that work is for business to realise that there are places other than Sydney and Melbourne where they can locate.My whole point is that if the population was willing to move out over the blue mountains, or past the Hawkesbury river, we could have much lower property prices
if there was a shift away from they capital cities, more of those would start appearing else where.
if there was a shift away from they capital cities, more of those would start appearing else where.
Infrastructure in Australia is generally hopeless. How does a city the size of Sydney have no metro? Why does someone going to Penrith get on the same train at Central as someone going to Newtown? There are plenty of people who could work from home and only come into the office every now and then, but they can't because the internet in Australia is third world.
If they build a credible rail network along the east coast with HSR then all those places between Sydney and Canberra become commuter towns. Ditto Newcastle. I'd much rather live in the Southern Highlands than out in Western Sydney.
Barnaby Joyce, is that you?
Jokes aside, do you think they start appearing by magic? I think you have it backwards.
If the Government would build infrastructure that matches what's available in the capitals:
- Schools,
- Hospitals,
- Shops (groceries, doctors, etc),
- Fast internet.
and then incentivise business to open offices, teachers and doctors to move, and thus create jobs there, then people would move there! Undoubtedly. The cost of living and pressure to make ends meet is simply too high to not.
But they don't. It's almost as if they have a vested interest in the status quo.
chicken or the egg.
But with the money you would save on housing by moving to say Coffs Harbour for example, you could afford a car, and with less traffic and smaller distances transport wouldn't be a worry.
I can already afford a car. But I catch public transport everywhere.
I did actually look at what jobs are going in and around Toormina because I'd love to be out of Sydney.
My industry is IT. I've invested 15 years of my life into it, have a senior technical role which is challenging and rewarding.
In the whole Coffs region there are only 4 jobs going on Seek. 4 in total. In Sydney they post 4 new IT jobs probably every hour.
All 4 of those jobs are entry level low paying crap like "mobile phone repair technician" and "IT support". No challenge, no opportunity for growth, soul crushing work.
Maybe housing is cheap there because all the people I know from between Bellingen and Sawtell have moved to either Sydney or Brisbane...
There is no reason that some of the industries that are in the capital cities couldn't move out into other regions, and hence bring jobs with them. there is no reason why Australia's population is limited to the arbitrary number of cities we have, except for that no one seems to want to be the first to move (either house or business)
My original comment was that if the population in general spread out it would lower the concentration of sardines.
There is no reason that some of the industries that are in the capital cities couldn't move out into other regions, and hence bring jobs with them. there is no reason why Australia's population is limited to the arbitrary number of cities we have, except for that no one seems to want to be the first to move (either house or business)
My original comment was that if the population in general spread out it would lower the concentration of sardines.
There is no reason that some of the industries that are in the capital cities couldn't move out into other regions, and hence bring jobs with them. there is no reason why Australia's population is limited to the arbitrary number of cities we have, except for that no one seems to want to be the first to move (either house or business)
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