By: king_bast
21/07/2009
4:54 pm Yahoo! Profile:
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You will all remember a few years back the triumphant proclamations that Perth has the highest real estate prices in Australia. Oh Wow good for us eh? No. Not good for us.
Now, to get somewhere stable to live, it costs upwards of $350,000 for a modest dwelling.
So keep renting you say?
Nah. It's a bit shit having to move every few months because the greedy landlord wants to raise the rent, or move their nephew in, or whatever the reason might be.
There just has to be a low priced option available to the 'battlers' - 20% deposit on a $350,000 crap shack would be a bit hard to save when you're paying $300 p/w rent, with an everage income of something like $40K. But who cares eh? So long as the latte-sipping set have their 'investment property' it doesn't matter whether the workers have anywhere to live.
So thatbrings us to the situation today. Aparrently the sky is falling, beacsue house prices may drop by a few percent. Big deal. If you live in the house, it matters not how much it's worth. The only people it's going to bother are those who bought the houses for the sole intention of making a fast buck, and frankly, those people can kiss my ass.
Now I know what the response is gonna be...'you're just jealous of those who worked hard to get ahead'- well I'll stop you right there. I bought my home for $170,000 8 years ago, and it is now valued at $340,000. Oh Wow, you doubled your money, what are you complaining about?
I'm complaining becasue my home is about as cheap as you're gonna get in Perth, and I just don't think it's worth $340K. I just shudder to think what the next genaration are going to have to do to get alittle patch to call their own, when we have the wealthy buying multiple houses, purely to drive the cost up. That extra $20K or so in the pocket of the already wealthy is going to lock out future generations form ever having the security of their own home, and you know what that means for me? |
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By: king_bast
21/07/2009
4:55 pm Yahoo! Profile:
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| It means my kids willbe living with me till they're 30 or more, and I really don't want that. |
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By: ne0n_dj
21/07/2009
6:59 pm Yahoo! Profile:
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hey king_bast... that guy in the newspaper got a home in South Mandurah for around 385,000 with a 15,000 deposit...
the house looks alright as well...
yea the days of getting a decent and affordable house in the metro area is long gone so maybe its time for your kids to start looking at places like Ellenbrook and Mandurah??? |
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By: mag.tide
21/07/2009
7:15 pm Yahoo! Profile:
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Ya can blame the R/E industry for the inflated values,
we just sold a house in peel that was listed at 1.8mill ond sold it for 900k recently.
glad its all settled down and dont worry they'll drop a lot more yet. |
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By: jaykaye_09
21/07/2009
7:34 pm Yahoo! Profile:
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Poor planning doesn't help. Maybe if we stopped with this suburban sprawl, we would be better placed in terms of accommodating our growing population, lower housing prices and costly infrastructure.
What's our population density again...something pathetic.
But hey, that's Perth for you (the rest of Australia isn't much better). Like America Jr. |
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By: trevorsteamboat
21/07/2009
7:37 pm Yahoo! Profile:
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| Build it up buttercup..... |
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By: bulldoost
21/07/2009
9:57 pm Yahoo! Profile:
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jaykay :-) i think you hit nail in the head...
i am postulating for years that urban sprawl i perth or indeed generally in oz is unsustainable!
do get info from net with exact data but in perth on nearly 6000km2 is living 1,6mio people... that is less than 270 people per sq km!!! that is lower density than most of the countries as a whole!
build perth city centre! build four or fourteen story apartment blocks there! allow ground and first floor for trade and you will not need "sunday trading"... you will have city teaming with people! in cbd currently is living 9000 people...
i do not suggest another extreme like my hometown where there is nearly 4000 people per sq km... but 1000ppl per sq km will be nice! |
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By: jaykaye_09
21/07/2009
10:43 pm Yahoo! Profile:
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Bulldoost, if you're interested, there is a 'new' book discussing this very issue that I believe has been published by UWA.
You're from Vienna, aren't you? |
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By: bulldoost
21/07/2009
11:11 pm Yahoo! Profile:
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jaykaye :-) for last 28 years i was calling australia home... :-) well, western australia...
i was in 1985 in singapore, between 1986 and 1990 lecturing in japan, melbourne uni and gippsland institute, 2004 ceylon, heaps of shorter spells in various countires.
but, yes, i was raised in vienna and returned just few weeks ago back from lecturing on my former alma mater... :-) |
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By: bulldoost
21/07/2009
11:12 pm Yahoo! Profile:
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| would you happend to know the title? or author? or at least department? |
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By: jaykaye_09
21/07/2009
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This is the book...bloody expensive.
http://www.uwap.uwa.edu.au/books/current-affairs/b oomtown-2050 |
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By: jaykaye_09
21/07/2009
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'but, yes, i was raised in vienna and returned just few weeks ago back from lecturing on my former alma mater...'
-bulldoost
Cool. I spent some time there in June (maybe the end of May, I can't recall)...enjoyed it. It has one of the most alternative 'arts' scenes that I saw during probably me entire time in Europe. The MuseumsQuartier was immense. |
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By: bulldoost
22/07/2009
12:09 am Yahoo! Profile:
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| i will borrow it from library... cannot justify $99.00 for book and not even gold plated... |
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By: bulldoost
22/07/2009
12:10 am Yahoo! Profile:
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| how did you enjoy transport? bit better than in perth or london... :-) |
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By: jaykaye_09
22/07/2009
12:47 am Yahoo! Profile:
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'how did you enjoy transport? bit better than in perth or london... :-)'
-bulldoost
The best thing about all of Europe, Italy aside, was the transport. It's nice to be places where people aren't so reliant on cars (which I suppose is why scooters are so popular).
...love how nobody checks tickets on the transport in Austria.
...and yeah, let's not talk about the transport here in London. At all. |
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By: bulldoost
22/07/2009
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even italy is not that bad if you travel with bus or tank... :-)
but did you noted that in viena there is some transport even to lowest suburbs? schau das alpen dru... ueber bergsee... :-) |
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By: giggsy0175
23/07/2009
2:46 am Yahoo! Profile:
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Completely agree with you King Bast- the whole situation sucks. And Im really sick of hearing "pearls of wisdom" from older people who bought their house for $25,000 - really they should just shut up as the reality they faced is poles apart from what people face now
I remember one guy at work around 60 always banging on about how it was only because young people wanted "everything now". Only by sitting him down and explaining what some shitbox in some crap suburb costs and the monthly mortgage repayment that goes with it did the penny drop- he went deathly quiet- and when I asked what he would do if he was starting out now- he had no answer
Im lucky in that I built in 2002- just before things went insane- (but a $250,000 mortgage is still big enough thanks!) but i too worry about my little kids and all other people in the future.
Because make no bones about it- the huge rise in housing prices has completely changed Perth for ever- it is no longer a "easygoing lifestyle" if the majority of people are investing most of their money and time into keeping a roof over their heads
I dont think the full impact of the last 5 years has really hit yet either- there is still alot of people around who started their mortgage 10 plus years ago so they are unaffected- once they start finishing paying off their mortgages - and the people paying the new prices become an ever growing percentage of the population- the pressure within society will increase |
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By: tickfen
23/07/2009
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| remember that when houses were dirt cheap compared to now the income was much lower compared to now so i would guess the older people who bought 40 years ago had a similar problem in paying the morgage...my dad was on 15 pounds a week when he bought his first home. |
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By: king_bast
23/07/2009
1:16 pm Yahoo! Profile:
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"The average amount spent on housing costs across all households in Australia has increased gradually from around 11 per cent of household income in the mid-1970s to just over 15 per cent in 2003-04"
http://www.ahuri.edu.au/nrv/nrv3/
And these are figures for 03-04...BEFORE the explosion in property prices. |
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By: tickfen
23/07/2009
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| point taken king, |
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By: ausgal952753
23/07/2009
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Stop whinging, Check out house or unit prices in most cities around the world.
In London I cannot even buy a freehold property, the best I could get is a 99 year lease for the same cost as I would pay freehold in Sydney.
If you want to live in a modern city, you must pay the price. Get used to it. Even in poor old sleepy Perth, prices over the next 10 years will probably double.
At least I hope so. |
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By: king_bast
23/07/2009
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hang on ausgal...on the one hand you say Perth is sleepy hollow...and then turn around and compare it to London.
If Perth really is the land that time forgot, shouldn't the house prices reflect that? |
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By: ausgal952753
23/07/2009
3:41 pm Yahoo! Profile:
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hang on ausgal...on the one hand you say Perth is sleepy hollow...and then turn around and compare it to London.
If Perth really is the land that time forgot, shouldn't the house prices reflect that?
Yes they should and do to some extent.
price a 4 bed home in London and then one in Perth. |
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By: king_bast
23/07/2009
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"price a 4 bed home in London and then one in Perth"
Wouldn't be an accurate comparison considering WA is soooooo much bigger than england.
When 15 million people live in one city, it's obviously going to be more expensive than a city with just 1.5 million, what with the laws of supply and demand. |
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By: mag.tide
23/07/2009
3:48 pm Yahoo! Profile:
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If you want to live in a modern city, you must pay the price. Get used to it. Even in poor old sleepy Perth, prices over the next 10 years will probably double.
At least I hope so.
<><>
Very much doubt that,
they will continue to go down and settle to a more realistic value yet. |
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