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I wanted to gather the thoughts of others and also warn those heading over to Oz about the cost of housing in Australia. We have been renting in Sydney for nearly 3 years now. We both have very good jobs earning far more than what we were on in England but we are struggling to buy a house. By a nice house, I don't mean anything extravagant just an average 3 bedder in a ok suburb within 30 mins of the coast and 1 hour out of the city. You are looking at least 700k plus. Then you have your stamp duty on top, that would be 27k for a 700k house. If you don't have a 20% deposit you will have to get mortgage insurance. Which is a further 10k! So really your looking at 737k, 409k English Pounds! Which for a couple from the North West of England is very expensive. I would certainly say Sydney prices are more than double the house prices in the UK. If you wanted to buy a nice house 3 beds,swimming pool, nice suburb your looking at 460k English Pounds (including stamp duty). Then there's the interest rates which are the highest in the world and rising! The property bubble is way over inflated. I just wanted to warn those back in the UK before moving over.

Apart from the house prices its bloody brilliant! If you have loads of cash make the move!

Unfortunately I can't see my future in Australia with the way house prices are going.:mad:
 

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I wanted to gather the thoughts of others and also warn those heading over to Oz about the cost of housing in Australia. We have been renting in Sydney for nearly 3 years now. We both have very good jobs earning far more than what we were on in England but we are struggling to buy a house. By a nice house, I don't mean anything extravagant just an average 3 bedder in a ok suburb within 30 mins of the coast and 1 hour out of the city. You are looking at least 700k plus. Then you have your stamp duty on top, that would be 27k for a 700k house. If you don't have a 20% deposit you will have to get mortgage insurance. Which is a further 10k! So really your looking at 737k, 409k English Pounds! Which for a couple from the North West of England is very expensive. I would certainly say Sydney prices are more than double the house prices in the UK. If you wanted to buy a nice house 3 beds,swimming pool, nice suburb your looking at 460k English Pounds (including stamp duty). Then there's the interest rates which are the highest in the world and rising! The property bubble is way over inflated. I just wanted to warn those back in the UK before moving over.

Apart from the house prices its bloody brilliant! If you have loads of cash make the move!

Unfortunately I can't see my future in Australia with the way house prices are going.:mad:
True. Australia is the most costly place I've ever seen when it comes to Rents and real estate. Its only for the riches I guess :mad: $700-900 per month for a room in a shared house. Its absurd
 

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Hi syd,

Well you did chose the most expensive state city to move to with Sydney. If you are going to compare Sydney with anywhere in the UK it needs to be London, and certainly there were LOTS of houses over 409K GBP where we lived and that was outside of London in Hertfordshire.

We live in a regional city and our 4 bedroom house, 2 bathrooms, 2 living areas, garage, car port, fairly large garden, stunning views over the city and 20 minutes to the coast, cost us 140K GBP and there was nothing at that price where we used to live in the UK.

You must compare like with like and places like Sydney, Melbourne and Perth can all be expensive because the they are major state capitals.

I understand that people may need to work there but then the real estate will have a high price tag.

Not all of Australia is expensive to live in and Adelaide (the last I looked) was far cheaper and is still a state city.

Locally here you can still buy a semi-detached, single storey house for about 60K GBP! Where I lived in the UK that wouldn't have bought a garage!

Regards,
Karen
 

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Hi Syd,

I know property in Australia can be expensive, it's just a case of travelling around the different areas, seeing if you like that area and working out how much property in that area is. It's frustrating but I'm sure you will find it in time. But as Karen said, you are living in the most expensive area on the whole country so it shouldn't come as too much of a shock!

Keep checking out those burbs....even if you have to move a little further away from the city.

Dolly
 

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I wanted to gather the thoughts of others and also warn those heading over to Oz about the cost of housing in Australia. We have been renting in Sydney for nearly 3 years now. We both have very good jobs earning far more than what we were on in England but we are struggling to buy a house. By a nice house, I don't mean anything extravagant just an average 3 bedder in a ok suburb within 30 mins of the coast and 1 hour out of the city. You are looking at least 700k plus. Then you have your stamp duty on top, that would be 27k for a 700k house. If you don't have a 20% deposit you will have to get mortgage insurance. Which is a further 10k! So really your looking at 737k, 409k English Pounds! Which for a couple from the North West of England is very expensive. I would certainly say Sydney prices are more than double the house prices in the UK. If you wanted to buy a nice house 3 beds,swimming pool, nice suburb your looking at 460k English Pounds (including stamp duty). Then there's the interest rates which are the highest in the world and rising! The property bubble is way over inflated. I just wanted to warn those back in the UK before moving over.

Apart from the house prices its bloody brilliant! If you have loads of cash make the move!

Unfortunately I can't see my future in Australia with the way house prices are going.:mad:
Funny, im moving to AU because the house prices here in San Francisco are ridiculous and we cannot afford to buy here. Part of the reason we decided against Sydney was the high cost of living, but know there are other cheaper places to live.
 

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Us too, Sydney was an option but we didn't want to move halfway around the world and struggle financially due to house prices.

BTW, I absolutely ADORE San Francisco......I've been twice and can't wait to go again (not sure when that will be, but it will happen one day). We actually did look at moving Monterey way at one point.

Dolly
 

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Us too, Sydney was an option but we didn't want to move halfway around the world and struggle financially due to house prices.

BTW, I absolutely ADORE San Francisco......I've been twice and can't wait to go again (not sure when that will be, but it will happen one day). We actually did look at moving Monterey way at one point.

Dolly
Frankly it will still be a struggle wherever we are, but at least its less of a struggle than here. Monterey is beautiful, but a little too quiet for our liking :)
 

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my friend is in Melbourne, lives in suburbs and has just picked a 3 room property, huge lawn, 2 bath etc etc, cost them about 317kA$.. which I dont think is bad. they were paying a rental of 900A$pm for a 2 room place before that. Frankly, its the area you choose, if you want the best of everything, be ready to shell out heaps :)
 

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Interesting thread. The "compare with London" post makes a lot of sense. How many middle class folks can afford apartments downtown city centers in, say, Singapore or even wayward Kuala Lumpur?
 

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Sydney is so expensive!

Yes, we just got to Sydney and aren't sure we will stay because we can't afford anything reasonable distance to the CBD. And stamp duty,about $25,000 for $600,000 property is a major turn-off. $600,000 doesn't actually get you much and groceries cost too much here. We love many things about Sydney but may go back to Canada so we can have a house and not be stressed about a gigantic mortgage!
 
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