The future of Australian property prices

[Smurf1976]

750k gets you basically nothing in Sydney/Melbourne, especially not if you have kids or want to have them and live somewhere near a school.

I only know one couple living in Sydney so just had a look on one of the real estate sites.

In short it says their place is worth $2.3 million.

It's a mid-1970's built 4 bedroom brick house. Nothing fancy and it's in largely original condition. It's nice but it's no mansion, it's nothing fancy. Land area on the title is about 750m2. In its favour, it's a nice area with plenty of facilities and a big park very close by as well. Quite secluded, not a rat run.

Not included in that, they also own the separately titled land over the back which is about the same size. With no fence it's part of the same property in a practical sense but not on paper.

So prices in Sydney are high yes. A similar place in SA or Tas would be under half that price.

 

[InsvestoBoy]

So prices in Sydney are high yes. A similar place in SA or Tas would be under half that price.

The problem with that is then you have to live in SA or TAS

 

[sptrawler]

The problem with that is then you have to live in SA or TAS

There is that. Lol

 

[Warr87]

The problem with that is then you have to live in SA or TAS

I've always seen that as a prime issue, haha.

 

[Smurf1976]

The problem with that is then you have to live in SA or TAS

Said tongue in cheek but with a touch of seriousness:

Of the Australian options I'd pick Adelaide, Hobart or Sydney as the place to live so far as capital cities are concerned. Not much in common with each other but they all have their good points. Sydney's crazily expensive though.

Haven't spent enough time in Perth to really comment beyond an observation that everyone seems obsessed with beaches.

Melbourne's the capital of a far-Left socialist police state, at least it seems to be. Rules people, we like rules here, follow the rules or else.....

Brisbane or Canberra no thanks.

Darwin never been there so can't comment.

No offence to anyone intended.

 

[sptrawler]

Even the reporters are getting sick of the rhetoric, that really says something.

Hey Sydney, can we talk about something other than property and private schools?

For a country as interesting and diverse as Australia, our banter is becoming tedious and predictable. And it has consequences we need to discuss.

www.smh.com.au

For a country as interesting and diverse as Australia, our banter is becoming tedious and predictable. Nowhere is this more pronounced than among residents of Sydney and Melbourne, who appear to have run out of topics of conversation beyond property and private schools.

“Have you decided on a school for (insert top-10 baby name here) yet?” an acquaintance asked me as we waited separately for our coffees.

 

[Warr87]

Even the reporters are getting sick of the rhetoric, that really says something.

Hey Sydney, can we talk about something other than property and private schools?

For a country as interesting and diverse as Australia, our banter is becoming tedious and predictable. And it has consequences we need to discuss.

www.smh.com.au

For a country as interesting and diverse as Australia, our banter is becoming tedious and predictable. Nowhere is this more pronounced than among residents of Sydney and Melbourne, who appear to have run out of topics of conversation beyond property and private schools.

“Have you decided on a school for (insert top-10 baby name here) yet?” an acquaintance asked me as we waited separately for our coffees.

Great article. I think it's pretty spot-on. I do get tired of the constant media or everyday chat about property. Everything is very Sydney centric IMO. I imagine when people come to Aus it's very obvious to them too. Property is very much a wealth building exercise (between generations as well) and/or status thing, so the points about the unequal disparity of wealth growing in australia is a good observation.

As for private schools, I think they made lots of good points. I went to public and even back then I knew of the inequities of funding between public and private. The private schools were supposedly far better than our 'pleb schools', though we often scored just as high than most. Often times it seemed more about trying to use those schools as a way to tap into 'legacies/networks'. More pronounced with the sydney private schools too. I'm sure that's only gotten much worse over the years. I haven't looked into the growing disparities of funding between the two as it's likely only going to trigger me ... as someone who is very education centric it pains me to see it.

 

[sptrawler]

Great article. I think it's pretty spot-on. I do get tired of the constant media or everyday chat about property. Everything is very Sydney centric IMO. I imagine when people come to Aus it's very obvious to them too. Property is very much a wealth building exercise (between generations as well) and/or status thing, so the points about the unequal disparity of wealth growing in australia is a good observation.

Everything is Sydney centric, because 90% of decision making by media and politics, is done by people living in the Sydney/Canberra bubble.

 

[wayneL]

Said tongue in cheek but with a touch of seriousness:

Of the Australian options I'd pick Adelaide, Hobart or Sydney as the place to live so far as capital cities are concerned. Not much in common with each other but they all have their good points. Sydney's crazily expensive though.

Haven't spent enough time in Perth to really comment beyond an observation that everyone seems obsessed with beaches.

Melbourne's the capital of a far-Left socialist police state, at least it seems to be. Rules people, we like rules here, follow the rules or else.....

Brisbane or Canberra no thanks.

Darwin never been there so can't comment.

No offence to anyone intended.

Melbourne, I used to love that place, but your assessment does indeed reflect the current reality. I wouldn't visit even if I had a reason.

Sydney, Nah. To me it's like London, great place to visit and maybe even live for a short time for a bit of excitement, but it wears you the @#$& out after while.

Adelaide, haven't really spent a lot of time there, but though a bit quiet it seems to have a good foodie culture, which I like. Coopers is shyte though.

Haven't been to Darwin or Hobart, but would love to visit Hobart sometime.

Brisbane, oh dear, so much potential but so tragically flawed. Road system is shyte and the weather is absolutely oppressive for most of the year. There is lots that I liked about living there though, apart from the weather. And did I mention the weather is horrible most of the year

Perth, apart from being a corrupt aurhoritarian police state, stinkingly hot and dry in summer, as boring as batshxt, extremely susceptible to having empty supermarket shelves, real estate far more expensive than it's actually worth, full of aggressive bogans with mullets, having to check bushfire.io every 5 minutes when you're out to see whether your property is in danger, and a generally stultifying lack of culture, it's not too bad.

 

[dyna]

Old mate Paulie's famous quote ought to be chucked in , here.

"If you're not living in Sydney, you're just camping out."

(..quietly puts down beer can and ducks pointy little head below parapet.)

 

[Knobby22]

If you are in your twenties, Melbourne is the ultimate party town.Free Festivals wirh live bands over summer, (now) at different locations every weekend, Brunswick festival last week, St Kilda festival tomorrow. Moomba, comedy festival, many others.

Amazing live scene, clubs scene in the many lanes, theatre scene -way bigger than anywhere else in Australia.

Tennis, international tourists everywhere, Grand Prix, cricket, AussiecRules, Melbourne Cup. Huge crowds everywhere.

Melbourne buzzes at night and doesn’t close till 5am. Restaurant of different types and very International everywhere, safe streets, scooters and Trams to easily get round in a central grid where people live also in many apartments with happening adjoining suburbs, Jean shops that you go into and they measure you up and make a new pair specifically for you to your specs. within an hour. Cafe scene is unbelievable, specifically fashion shops everywhere.

Arts area that is centrally located expanding at the moment e.g. new Southbank Boulevard district, free ballet concert with Janis Joplin music at Myer music bowl next weekend , outdoor Shakespeare theatre in Fitzroy Gardens, ACMe, NGV, it goes on.

Internationals love Melbourne because it competes well with Europe.

If you are young and into non stop partying in open streets with live bands and secret clubs in lanes and into new events Melbourne is the place to be.

 

[UMike]

I totally agree with @Knobby22
Even though it is a police state nearly anything goes.
Some suburban house prices have really dived recently so in for interesting times I think.

 

[wayneL]

I totally agree with @Knobby22
Even though it is a police state nearly anything goes.
Some suburban house prices have really dived recently so in for interesting times I think.

Yep, I just hope the people of Victoria eventually vote out those with that authoritarian/totalitarian impulse and bring them to account.

Make Victoria Great Again!

 

[UMike]

Yep, I just hope the people of Victoria eventually vote out those with that authoritarian/totalitarian impulse and bring them to account.

Make Victoria Great Again!

I was very active in the federal and State election and I can tell you it won't happen. (while DA is there at least.)

I can't for the life of me explain the apathetic and compliant nature of Victorians considering outside pandemic over-reactions it is still one of the best places to live.

 

[wayneL]

I was very active in the federal and State election and I can tell you it won't happen. (while DA is there at least.)

I can't for the life of me explain the apathetic and compliant nature of Victorians considering outside pandemic over-reactions it is still one of the best places to live.

Yes, as I've said a few times on this forum, the Libs are in total disarray (nation wide) and don't stand a freaking chance at the moment... Or for the foreseeable future.

 

[farmerge]

Yes, as I've said a few times on this forum, the Libs are in total disarray (nation wide) and don't stand a freaking chance at the moment... Or for the foreseeable future.

Re the Libs. When you let monkeys in to run the show, monkeys is all you get.
I remember when the former disgraced Labour Leader here in WA many years ago, Brian Burke, said when in Opposition, we aren't going to be negative just fo the sake of bing in Opposition. If the Libs have a good idea we will run with it. This fresh approach eventually got him the Treasury seats.
Just my thoughts, but the Libs both State and federal seem to think that they have a born right to rule.
The block of concrete has landed right on top of them at the present and perhaps for the foreseeable future.

 

[wayneL]

Re the Libs. When you let monkeys in to run the show, monkeys is all you get.
I remember when the former disgraced Labour Leader here in WA many years ago, Brian Burke, said when in Opposition, we aren't going to be negative just fo the sake of bing in Opposition. If the Libs have a good idea we will run with it. This fresh approach eventually got him the Treasury seats.
Just my thoughts, but the Libs both State and federal seem to think that they have a born right to rule.
The block of concrete has landed right on top of them at the present and perhaps for the foreseeable future.

Mate, they don't even know what they want to be right now. Apart from the last two federal elections I was a lifelong Liberal voter. TBH, I wouldn't
#### on them if they were on fire these days.

 

[Dona Ferentes]

If you are in your twenties, Melbourne is the ultimate party town.Free Festivals wirh live bands over summer, (now) at different locations every weekend, Brunswick festival last week, St Kilda festival tomorrow. Moomba, comedy festival, many others.

Amazing live scene, clubs scene in the many lanes, theatre scene -way bigger than anywhere else in Australia.

Tennis, international tourists everywhere, Grand Prix, cricket, AussiecRules, Melbourne Cup. Huge crowds everywhere.

Melbourne buzzes at night and doesn’t close till 5am. Restaurant of different types and very International everywhere, safe streets, scooters and Trams to easily get round in a central grid where people live also in many apartments with happening adjoining suburbs, Jean shops that you go into and they measure you up and make a new pair specifically for you to your specs. within an hour. Cafe scene is unbelievable, specifically fashion shops everywhere.

Arts area that is centrally located expanding at the moment e.g. new Southbank Boulevard district, free ballet concert with Janis Joplin music at Myer music bowl next weekend , outdoor Shakespeare theatre in Fitzroy Gardens, ACMe, NGV, it goes on.

Internationals love Melbourne because it competes well with Europe.

If you are young and into non stop partying in open streets with live bands and secret clubs in lanes and into new events Melbourne is the place to be.

That's nothing... in Sydney right now

Sydney WorldPride 2023

Sydney WorldPride will take place from 17 February to 5 March 2023 and includes an official Sydney WorldPride Opening Ceremony, a First Nations...

(Cookies await)

 

[farmerge]

That's nothing... in Sydney right now

Sydney WorldPride 2023

Sydney WorldPride will take place from 17 February to 5 March 2023 and includes an official Sydney WorldPride Opening Ceremony, a First Nations...

(Cookies await)

Not for me anyone interested can have my place there obviously with the back hard against the wall.

 

[sptrawler]

@wayneL when people ask me what's Perth like, I say a great place to live, but you wouldnt want to visit, as boring as bat$hit as you would say.lol
With regard bushfires, we should be ok now that Scomo can give us his undivided attention and the East Coast doesnt need him for bushfire and flood mitigation. Lol
What a bunch of babies, now they have Lowe letting them down on interest rates, OMG what next.
Best move you ever did coming over here to the West.lol