- May 5, 2006
- 63,036
- 70,454
- AFL Club
- West Coast
That's good considering the median is over $1m.
Society/Culture Australian Property Prices to Crash?
- Thread starter CheapCharlie
- Start date
- Tagged users None
That's good considering the median is over $1m.
- Banned
- #2,127
Why would people who want a house and can't afford a house of $1m be looking at a house worth $1m? There are heaps of houses out there for different price ranges, choose one you can afford or continue to pay off someone else's mortgage.
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- May 5, 2006
- 63,036
- 70,454
- AFL Club
- West Coast
Maybe people resent a lower standard of accommodation relative to income over time being the norm.
Don't get me wrong I would prefer a river front property or something in Cottesloe overlooking the ocean and accept I can't afford that, but if people tell me that you need to go to uni, rack up a $50-100k debt, work your way up to an above median wage to afford a basic 3x1 40km out of the city I am happy to question that.
- Banned
- #2,130
Yeah, it's called demand. House prices aren't set by anyone but the market.
We up immigration, immigrants want to live in CBDs. Let me take a wild guess and assume a lot of people who are pro immigration are also complaining about house prices.
Like the prospect of living further away from a CBD is so depressing..
The mind boggles.
Depends where, obviously. Nobody lives in Melton or Cranbourne because they want to.
- Banned
- #2,132
The point is this... Buy where you can afford and stop complaining.
Ned_Flanders
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- Aug 22, 2009
- 77,158
- 142,367
- AFL Club
- Richmond
- Other Teams
- 76'ers
Sorry but this is wrong
A lot of people choose to live out there because you can have a large block with a big house and a massive yard. Those days are nuked in most of inner/middle Melbourne.
- Dec 18, 2007
- 11,029
- 6,863
- AFL Club
- Essendon
- Other Teams
- Non that play Essendon
Most inner Melbourne suburbs on the north side of the Yarra never had homes on big blocks with a big yard.
South and east of the Yarra was mixed with working class suburbs surrounded by wealthier areas and it was the wealthier areas where people had larger houses with larger yards.
Ned_Flanders
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- Aug 22, 2009
- 77,158
- 142,367
- AFL Club
- Richmond
- Other Teams
- 76'ers
You forgot the big Asterix, if you're prepared to spend a shit load of money
I spent two years looking for my current place in the middle eastern suburbs, and I can count on one hand how many were the traditional quarter acre.
We were seeing houses on just over 500sqm
- Dec 18, 2007
- 11,029
- 6,863
- AFL Club
- Essendon
- Other Teams
- Non that play Essendon
The middle eastern suburbs for a long time were more middle class but some people seem to think that the inner suburbs were once affordable housing with large blocks but that wasn't the case.
Last edited:
Oliver calls another crash. 
www.abc.net.au
Australia has experienced a multi-decade property boom, but one leading analyst predicts it's nearly over
Could the current surge in house prices be the final boom at the end of a multi-decade Australian property upswing?
www.abc.net.au
Ned_Flanders
Make me an Admin!
- Aug 22, 2009
- 77,158
- 142,367
- AFL Club
- Richmond
- Other Teams
- 76'ers
And that was back when our population. Was much much smaller
- Dec 18, 2007
- 11,029
- 6,863
- AFL Club
- Essendon
- Other Teams
- Non that play Essendon
The inner suburbs haven changed so people living in Richmond and other inner suburbs didn't have big backwards.
Ned_Flanders
Make me an Admin!
- Aug 22, 2009
- 77,158
- 142,367
- AFL Club
- Richmond
- Other Teams
- 76'ers
You're comparing miners cottages to a quarter acre block suburb.
No shit you can't subdivide a miners cottage
- Dec 18, 2007
- 11,029
- 6,863
- AFL Club
- Essendon
- Other Teams
- Non that play Essendon
Some people seem to think there were quarter acre blocks in those inner suburbs but there wasn't
There was in more middle class areas south and east of the Yarra and out Essendon way.
- May 5, 2006
- 63,036
- 70,454
- AFL Club
- West Coast
'The market' is pretty shit. Hence the discussion.
The bolded is half the problem. Endless population growth is not sustainable.
The accepted norm of demand outstripping supply (at least perceived demand outstripping perceived supply) forever to the detriment of each generation that comes next is why people have the shits with the whole thing. People are pretty quick to say 'too bad that's how it's always been move on'. Even though it's not the way things have always been.
How many people commute to Melbourne from Sunbury? Gisborne? Woodend? Kyneton? Bendigo? That's basically what people advocate. Don't get me wrong I would rather move down South and live in a small town than commute an hour plus each way but the whole reason people congregate into cities is there is work and shared services etc.
People throw out daft statements like 'just move further out' without recognising that there is a practical limit to how far out you can actually go. Investment into decrentralising the cap cities, transport infrastructure etc. isn't there to support it. But really it's just another way of saying 'be born earlier' most of the time.
I'd imagine most housing estates would be dishing out 1/8 acre blocks these days.
Thats a good size block these days, funny thing is most people don't want yards to maintain.
Suppose they don't have the time if they're travelling 2-3 hours for work each day.
More like can't afford money or time to do landscaping because they rather eat out every night and travel for life experiences.
Yep, the suburban sprawl is ridiculous and not sustainable.
I was looking at a reddit thread the other day where a house in Carnegie had been flipped for a 50% increase in 18 Months. (Approx 800k).
How is that sort of shit sustainable in any fashion?
How is that sort of shit sustainable in any fashion?
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