Shug on 9/3/2011 at 07:24
What should have happened to them a long time ago
heywood on 9/3/2011 at 07:59
Quote Posted by the_grip
Golden Heywood, thanks for that post!
Looking around on the propety listing site posted at the beginning of this thread, I definitely agree... home prices are the big issue I'm running into. Seems tough to find reasonably priced property.
And that beer pricing is nuts!
The site Muz linked is THE place to look for rental properties.
If you're thinking of buying property, don't. Real estate seems overvalued here and there are some early warning signs of a correction, such as more and more high end apartments coming up for sale, and the vast majority of new home loans now are adjustable rate. Also, as of last year, anybody who isn't a permanent resident needs approval by the government's foreign investment review board (FIRB) to purchase residential property. If the property is being purchased to reside in, they will generally approve the sale. If it's being purchased for rental income or as an investment, they will disapprove. This was done to stop foreign investors from driving a housing bubble. Most of the apartments I looked at in Sydney were owned by foreign parties (1 from UK, 1 France, 1 Singapore and a bunch from Hong Kong) so I gather it was real issue.
EDIT: Am I the only one who sees CCC's post?
Scots Taffer on 9/3/2011 at 11:18
I can see it, but I'm sure it wasn't visible for a period.
As far as a property bubble goes, I'm not so convinced there's a collapse coming but there will be a correction (and it's already happening) in the unsustainably priced areas where the property values got inflated beyond reasonable means and a chain reaction of selling high and buying higher off the back of the baby-boomer generation who have gotten stupidly rich of a market that has commonly yielded returns of 500% and upwards.
We'll never see good value family homes sub-$100k again though as they were in the 90s, unless we go into an economic Dark Ages and anyone who reckons otherwise has a few screws loose. Look at the collapses around the world and the hardest hit were those artificially inflated pockets, outside of that there has been some correction to the tune of 20%-30% but that's nothing more than a common downturn in any market cycle.
twisty on 9/3/2011 at 13:48
As far as point 3 is concerned, Perth is a pretty good place to raise children I reckon. I've just had my first child -- something that I said I would never do, but am now thrilled about -- and can see the merits of living in Perth: a strong economy; a laid back, peaceful city (overall); great wineries (down south and close by to Perth) and restaurants; beautiful beaches; easy to get away from it all if you are an outdoors type.
On the other hand, its isolation could prove to be an issue if oil prices continue to rise in sync with an inevitable decline in the resource boom which would by extension raise transport/freight/food costs to ridiculous levels.
the_grip on 9/3/2011 at 16:56
Quote Posted by heywood
If you're thinking of buying property, don't.
Yep, I saw that pretty quickly. I'd be paying up for housing that is obviously not worth the price.
I'd still love to move to Australia... it would be a long term decision, so we'll see. I haven't even been there yet, so at least a visit or two would be needed first. We'll see!
CCCToad on 10/3/2011 at 03:09
Quote Posted by Sg3
What happened to CCCToad's post?
I deleted it because I could not have defended that post without giving out information thats classified.
heywood on 10/3/2011 at 11:34
Quote Posted by Scots Taffer
We'll never see good value family homes sub-$100k again though as they were in the 90s, unless we go into an economic Dark Ages and anyone who reckons otherwise has a few screws loose. Look at the collapses around the world and the hardest hit were those artificially inflated pockets, outside of that there has been some correction to the tune of 20%-30% but that's nothing more than a common downturn in any market cycle.
I think you're right. I just find it sad that some of my middle class professional coworkers are priced out of the suburban housing market here in Sydney and speculative real estate investment has a lot to do with it.
Fortunately, I can still rent a nice (albeit small) flat in a choice location without bankrupting myself. But I couldn't afford to buy the same apartment.
Quote Posted by the_grip
I'd still love to move to Australia... it would be a long term decision, so we'll see. I haven't even been there yet, so at least a visit or two would be needed first. We'll see!
My advice would be to start applying for jobs. Until you have a good prospect, moving here is just an idea. No need to put heavy thought into it until it's actually an option.
In the mean time, you can always take a vacation here and convince yourself it's necessary for "research purposes". ;)
CCCToad on 11/3/2011 at 00:58
Quote Posted by heywood
In the mean time, you can always take a vacation here and convince yourself it's necessary for "research purposes". ;)
Thats just a good idea for any time you are choosing where to relocate to.
ercles on 13/3/2011 at 01:37
I grew up in Sydney until I was 18, moved to Adelaide for 5 years, and am now living in Melbourne. Sydney's pretty low on my list of livable cities now, but that's largely because of personal prorities I guess.
Firstly, Adelaide is a shitload nicer than most people make it out to be. It has the best food and produce you'll find in Australia, it's cheap, convenient, and super mellow. If you're looking for a thriving metropolis you aren't going to find it there (but even that's hard to find except for pockets of sydney and melbourne), but if you like doing day trips to the country and eating well on a budget you won't find a better place in Australia I reckon.
Sydney is extraordinarily beautiful, but it's a disaster as far as urban planning goes. The labour government has well and truly run it into the ground. It's got some great nightclubs, and fantastic restaurants, but it's a bloody difficult place to get around.
Melbourne has the best eating and bar culture I have seen in melbourne, and easily the best music scene around. It can be very pretentious in a hipster way, but once you realize how high the bar is set for the venues in the city, I can live with that. Public transport is the best I have experienced as well. Also, yes, it is the sporting capital of Australia, there's always something going on. Terrible weather though.
