Small House

[jimr1]

I was reading that a house in Surrey Hills Sydney , has sold for $ 965,000 add to that Stamp Duty and your up around $ 1 Million . The house is 2.85 mt wide on a 38mt sq. block . I does have two bedrooms . I know this is inner city ,but this an awful lot of money for such a small house . It makes me think when will madness stop . Australia has so much land yet we are paying some of the highest land prices in the world !!.. Jim

[Eevo]

pop!

[Homestar]

Absolute lunacy IMO, but a house - like anything - is worth what someone will pay for it. Sydney has the most overheated Real Estate market in the world at the moment. I wonder when the kettle will come off the boil? - And what a shoebox on 38 mt sq will be worth then...

[Fatso]

Remember what started the monetary down fall in the USA . !!!!

[frantic]

It's a simple problem of supply v demand. One needs to increase or the other needs to drop.
The issue is sydney /Nsw welcome 40% of the migrants to Oz, and have a demand of x, but for well over 20 years the state govt has never approved a sufficient number of units/land to meet that number, averaged out at about 15% below what demand is. This results in the 100% who want a house forcing the lowest 15% out of the market, now throw in the top end being hit with cashed up foreign investors, this also forces the market up further.
A family member was talking to a North shore agent a while back who said if he got another deal like his last he could retire. Basically he had shown a chinese investor through 37 houses between st Ives and Chatswood selling for between $1.2-2 million, after getting sick of it he asked which one would he like to buy, the investors response was, "I don't like these 5, but I'll take the rest!"
This will force locals to either go higher on the next house or move their target to a slightly less expensive house, force the lower bidders out with their extra cash and there is the flow on.
The only other way for prices to drop are to reduce demand, this means massive unemployment, 15-20%+,or massive population shift/decline.

[simmo]

38 m2 is not a bad sized building block in the old cities in asia. My friend and his wife have a house on a block the size of a double garage in Saigon. they lived there since they were married 25 years ago. It was run down, so recently they had the place knocked down and new house built, 4 levels. The lane way to the house was about 1.5 meters wide, the builders carried everything there in a three wheeled motorbike, or wheel barrow,( You need good legs to live there :) Land in close to town in Saigon can be 5000 +, USD/M2, even 100 kms from Saigon in a town the land is over 1000-1500 USD/M2. That makes you average suburban block in Australian work 600--million USD by itself. Australian property for rich Asians looks like a good deal, especially if they have access to cheap finance (2%), the net return on aussie rentals exceeds that, plus the bonus capital gain.
We're selling out our children s future by letting foreigners buy domestic property for rentals. Our children are paying unreasonable prices to their houses , what choice do they have? Pay rent to someone all their life or have a go at buying their own house? We're suckers and our politicians have sold our children out, if foreigners can buy houses in aussie. Tell me one place in asia where I can go and buy a house on land. ( or where i can apply for citizenship ) Eg Singapore i can buy an apartment (20 % stamp duty for foreigner, 3 % for locals ). Malaysia I can buy a house but it must be very expensive so I have no impact on local young people or average working class housing prices. Vietnam I can only buy a lease on an apartment, no land. My Daughter and her husband bought a small house near Melbourne for over $600000 reasonably close to town. I used to live nearby when I was student those houses could be bought for 20,000, an over thirty fold increase in my 36 year working life. Question; how many of us has our salary gone up to 30+ times the salary we started on? Even allowing that I'm in senior position I'm not making 30 times my junior starting salary.
The big influx of foreign cash by selling these houses is a short term benefit to older Australians, our children and their children will be paying for that all their lives, in rent, ( going to out of the country to foreign interests) or bigger mortgages, ( interest going out of the country to foreign interests, you don't think it's aussie money they're borrowing do you?). Australia needs to wake up and adopt similar property ownership rules to our neighbors, and stop the housing market being distorted by foreigners. Why should we compete with foreigners for houses in our own country?

Extract from the government website about housing

The Australian Government (based in Canberra, Australia's capital city) is aware of the fact that some of Australia's citizens are cautious about foreign individuals or companies buying residential real estate (defined as all Australian real property, including vacant land).

It wants to ensure that the foreign real estate ownership it does allow is of benefit to the community and in keeping with the community needs. Therefore, the Australian Government insists that all applications from foreign citizens or companies to buy residential real estate (either already developed - such as houses and apartments - to be developed, to be redeveloped or existing only at plan stage) are put before the Foreign Investment Review Board (FIRB), one of its advisory boards.

This advisory board reports to Treasury and reviews all applications by to purchase residential real estate, no matter what the value of the intended purchase is, by anyone who is NOT an Australian citizen, an approved migrant, a permanent resident of Australia, a foreign national holding a permanent visa or a person who, despite being a foreign citizen, is entitled to permanent residence status in Australia, should they take it up, such as a citizen of New Zealand. These people are holders of "special category visas".

There are many different classes and categories of visas. Click here for an overview of the various visa classes which can be applied for by foreign citizens.

There are usually no problems when the foreign spouse of an Australian citizen applies to be allowed to purchase property with his/her spouse on a 50/50 or "Joint Tenant" basis, but there still must be an application to the FIRB.

How long does an FIRB review take?

Thirty days is needed for an application to be looked at by the FIRB. There are no "general" approvals available. An approval can only be granted on a specifically nominated property. Therefore, real estate contracts with foreign citizens must contain a clause saying that going ahead with the purchase is conditional upon getting FIRB approval and that 30 days must be allowed for that approval to be granted or denied.


What influences an FIRB decision?

If the FIRB feels that the residential real estate in question is only being purchased by a foreign citizen or company just for the purpose of renting it out, or because the purchaser wants to speculate on the property's future value, permission to purchase will be refused.

On the other hand, approval IS usually granted to foreign applicants in the following circumstances:

A. Where the applicant is residing in Australia on the basis of a Temporary Entry Visa (with more than 12 months validity) and is wanting to buy a residence for themselves - as long as the property is sold when the person no longer lives in Australia Applicants who are entitled to purchase on these terms include students over 18 studying at a recognised tertiary institution for more than one year who need accommodation, but a general limit of $300,000 applies to the value of any such property acquired by a student temporarily resident in Australia. Other applicants entitled to purchase are long stay retirees and people in Australia for work reasons who need accommodation. Again, any property must be sold when these categories of buyers no longer live in Australia.
This category does not cover people with visitor or bridging visas.
B. Where a company from a foreign country wants to provide housing for its senior executives while they are posted to Australia for more than 12 months - again, as long as the property is sold when the employee is no longer living in Australia. These senior executives have to be specifically named. Usually, the purchase of two houses per company are permitted.
The purchase of another residence, such as a "weekender" for recreational use, is not approved under any of the above circumstances.

The rules seem to exist, but maybe not being applied. ( why should a foreign student be able to buy a house ? the link is below

Foreign Investors - Buying property as a foreigner or Temporary Resident in Australia (http://www.australia-migration.com/page/Foreign_Investors_Buying_property_as_a_foreigner_o r_Temporary_Resident_in_Australia/178)

[jimr1]

simmo thanks for that info , I have a number of grand children . We will try to encourage them to buy a property rather then rent ! I think the problem we can all see is buying is getting more and more difficult , as prices continue to rise faster than wages . I know buying your first home has never been easy , I did read some years ago , that house prices was a concern of the government of the day . It said if people can only afford to rent , then come retirement time , there pension wouldn't cover rent cost's . This will force a lot of people into financial hardship . At the time I could see and understand the merit in that , but times have changed . That problem is still there , but the concern seems less important now !!.. Jim .

[3toes]

The rules as stated below appear reasonable and designed to protect the locals from speculators. In the early nineties foreign investors were buying whole housing estates off the plan which should no longer be happening. Idea was to keep residential housing out of the speculators remit.

Based on second hand info from people in the real estate industry in Australia the rules have not kept up with the changes in population demographics since they were brought in. People with cash have been encouraged to come to Australia which they see as a safe harbour if it all goes wrong at home. As they can now have dual nationality the resident part of the rules can be met while not being local. Dual nationality was not allowed when the rules were brought in.

One family member will have citizenship and so meet the rules they will be investing on behalf of a syndicate and do by pass the rules.

There is no desire in the property industry to call this out as they make too much profit that would be difficult to replace. Can just point you to the rules even though they know they do not work.

[Chucaro]

simmo thanks for that info , I have a number of grand children . We will try to encourage them to buy a property rather then rent ! I think the problem we can all see is buying is getting more and more difficult , as prices continue to rise faster than wages . I know buying your first home has never been easy , I did read some years ago , that house prices was a concern of the government of the day . It said if people can only afford to rent , then come retirement time , there pension wouldn't cover rent cost's . This will force a lot of people into financial hardship . At the time I could see and understand the merit in that , but times have changed . That problem is still there , but the concern seems less important now !!.. Jim .

Jim IMO it is time to change our way of life and start with dual occupancy.
Living in 800 square meters land is a luxury that we cannot afford any more not only for the cost of the land but also infrastructure and transport costs.
Sydney, Melbourne and Brisbane (including the surroundings) are far to big for the population that they have.

[jimr1]

Hi Chucaro , you could be right on the way we think . It is becoming a big problem , and I don't think there are any easy answers . Maybe in the past there should have been more development , then just into the Capitals . I suppose people go to the big city's because that's where the opportunity's are . You can't blame people for that , I'm one of them . We have a long coast line , some of towns should be encouraged to expand , that would take some of the pressure off the big city's . As our population expands , most people will come into our city's , that puts more pressure on property prices !!.. Jim.

[Mick_Marsh]

http://smallhousesociety.net/

Where I work, you can get a 3BR home on an average size block for under $100k.
I'm looking at (with a desire to purchase) a nice mud brick home on ten acres for under $400k.
Cities and suburbia are over rated.
http://www.abc.net.au/news/2015-05-28/high-rise-time-bomb-warning-prompts-melbourne-safety-audit/6502808

[Chenz]

Jim IMO it is time to change our way of life and start with dual occupancy.
Living in 800 square meters land is a luxury that we cannot afford any more not only for the cost of the land but also infrastructure and transport costs.
Sydney, Melbourne and Brisbane (including the surroundings) are far to big for the population that they have.

I could not disagree more. What the government is doing by allowing smaller and smaller blocks to be developed is setting up for the slums and ghettos of the future.

Some of the blocks in the North West Growth Centre of Sydney - Blacktown, Riverstone, Marsden Park are getting down to 280 sqm. The buyer then plonks a 4 bedroom 4 bathroom house that takes up 85% of the block.

This leaves no yard and no space to even plant a tree which then puts pressure on the local parks as the defacto back yards.

In a country the size of Australia it is a disgrace that we are all living on top of one another in cities. The government should give tax incentives for firms to set up business in regional areas and also provide the infrastructure and other incentives for people to move out of the city.

In regard to the foreign investment fiasco, in areas like The Ponds, buyers from the sub-continent - India, Pakistan and Sri Lanka are coming in and buying whole subdivisions off the plan regardless of the price. This just adds to the pressure for our children and first time home buyers putting them on the rental roundabout never able to get a foot in the door of owning their own house.

I am also sick of Real Estate Agents calling me or knocking on my door saying that they have a buyer interested in my house and willing to offer me $1.5 million. When I ask I am told it is an Asian investor. I have had three calls in the last week!!!!!

This is just monopoly money as I cannot buy anything better in my area for that coin. The bubble is going to burst soon and the USA example will be oh so much a reality here.

[carlschmid2002]

Small House Society | Supporting the Small House Movement (http://smallhousesociety.net/)

Where I work, you can get a 3BR home on an average size block for under $100k.
I'm looking at (with a desire to purchase) a nice mud brick home on ten acres for under $400k.
Cities and suburbia are over rated.
High-rise 'time bomb' warning prompts building safety audit in Melbourne CBD - ABC News (Australian Broadcasting Corporation) (http://www.abc.net.au/news/2015-05-28/high-rise-time-bomb-warning-prompts-melbourne-safety-audit/6502808)

My ex wife wants to move back to Melbourne eventually and I shudder at the thought of paying Melbourne prices just to be near my kids. I would like something within an hour drive of the Eastern suburbs of Melbourne or Lilydale train station where I can live a quiet life, rely purely on solar. I want somewhere where I can build a shed, park a caravan and build my own house. I want an acre or a little bit more. I don't want to much land as it will be surrounded by a beagle proof fence so my dogs can run free. I really don't care if it is a bit of a drive to the corner store. I don't want to pay more than $500000 including a small house. Is this possible in Victoria. I know it is possible in Queensland but I do want to be part of my girls lives. Am I dreaming.

[trog]

I am happy to be out of the house and land in the burbs. Got it rented out for more than I pay for the flat, the work commute is is a 10 minute ride on the bicycle , therefore more $ for weekend fuel and fun.If the public transport and work was out in the suburbs maybe the house and land would look more attractive. Until then I will enjoy the inner city life.

[jimr1]

I am happy to be out of the house and land in the burbs. Got it rented out for more than I pay for the flat, the work commute is is a 10 minute ride on the bicycle , therefore more $ for weekend fuel and fun.If the public transport and work was out in the suburbs maybe the house and land would look more attractive. Until then I will enjoy the inner city life.
I can see you point , If your work is in the City , and if your happy there , then why not . If someone wont's a bit of land , then that's fare enough as well . Property prices are governed by what people are or have to pay , as we all know . The Australia dream of buying your own house , then paying It off early are fading for many people . This is a land of plenty , there are 36,000 kl of coast line , more than the USA , they have 330 million people , Europe has even more people . So what's pushed up our prices up . If It is overseas buyers , then maybe this should stop . There are those that think this is a good thing , A lot of young people don't !!..

[DiscoMick]

Foreign buyers are not the main cause of skyrocketing prices, they're just convenient targets for us to blame. The problem is more about a combination of not enough development, excessive council levies for services, people wanting ever larger places, tax incentives for buying investment properties and governments not building enough public housing, all making it harder for new home buyers to get into the market.

Sent from my GT-P5210 using AULRO mobile app

[trog]

I also think that maybe expectations are too high in the size of the dwelling and the types and quality of the interior fittings is another contributing factor. There is a lot of dead space in many homes . I fail to see why utilizing attic space and where possible basements isnt done. Increase the floor space not the footprint. Doesnt take much to effectively plan a more efficient use of space. Its been done for years in the boating and caravan industries.

[jimr1]

I also think that maybe expectations are too high in the size of the dwelling and the types and quality of the interior fittings is another contributing factor. There is a lot of dead space in many homes . I fail to see why utilizing attic space and where possible basements isnt done. Increase the floor space not the footprint. Doesnt take much to effectively plan a more efficient use of space. Its been done for years in the boating and caravan industries.
I must admit I've seen quite a few caravans in my time , but I've never seen one with a basement !!.. Jim :D:D

[trog]

http://i0.wp.com/mobilehomeliving.org/wp-content/uploads/2013/09/rsz_lake_end_of_basement.jpg'resize=600%2C400
amazing stuff in the world wide web if the link works !

[DiscoMick]

I also think that maybe expectations are too high in the size of the dwelling and the types and quality of the interior fittings is another contributing factor. There is a lot of dead space in many homes . I fail to see why utilizing attic space and where possible basements isnt done. Increase the floor space not the footprint. Doesnt take much to effectively plan a more efficient use of space. Its been done for years in the boating and caravan industries.

Agree some houses waste a lot of space. I mean, how much space do we really need in a house? Not as much as many seem to think, I reckon.

Sent from my GT-P5210 using AULRO mobile app

[simmo]

My Ex wife is the proud owner of the nice house on 2000 sq m in a country village. It was a nice lifestyle and great place for the kids to grow up. But no money there, most of the people have to work away from the village. Big commuting costs, a lot of time lost etc. I now have a more humble out look on property and have a small house on 600 m2 in town, close to job opportunities, and services. What i do miss is space to put all my stuff, old motorbikes, landrover bits, wheels etc, scooters and parts, scrap steel and wood storage, trailer, cement mixer, workshop equipment. I'm think the minimum size shed needs to be about 40 M2. It's interesting in some new development houses where they build out the block, then park their cars on the street/driveway because the garage is full of stuff. :D Regarding small blocks = slums, I don't agree with that, small blocks are the way of the future, in Asia 280 m2 is considered "big land". Many people live in neighborhoods with streets of houses on 100-120 m2 of land, (2 or three level houses ) They're as house proud as any other people I know. Happy to have somewhere clean, comfortable and secure, the streets are clean and tidy, no graffiti etc, It's a different type of living from what Aussies are used to but the locals get by comfortably. It's made possible because all most all of them have no car.:wasntme:

[Chenz]

Why do we want to dumb things down all the time. "in asia..............". Who wants to live there???

We have a great country in Australia and we are talking about now living on top of each other and successive governments keep allowing greedy developers to get their "Yield" out of the subdivisions. I am sure Harry Trigomboff from Meriton Homes would love us to keep this trend going.

Last time I looked at a map of Australia there was a lot of space between the 6 major cities just waiting for a visionary government to use for a community to develop without having to try and shove their families into a multi-story block of units.

Think about growing up in a suburb with a creek, a park, some bush, corner shop and a community that looked to improve the lives of each other.

We are being hoodwinked into thinking that smaller is better. Sure there is a place for that style of housing, close to the city where persons are happy to adopt that lifestyle. But to then want to make this the norm in the burbs is fraught with the ensuing social problems such as youth crime, neighborhood disputes nimbyism etc.

As Louis Armstrong said "Give me land, lots of land, neath the starry skies above. Don't fence me in".

I will take that before short sighted government planning ministries, developers and real estate agents all looking to cash in.

[jimr1]

Just to add to this post , On Saturday , a house in Sydney sold for over $ 1 million over reserve price . $ 4.1 million . The article said two Chinese business men were in a bidding war with each other . The price just kept going up . This is madness , how are ordinary Australians suppose to compete at these levels ? I know It's a free market , and the sellers would have been delighted , as would there agents , plus the tax man " stamp duty , gst " but surly It will get to a point were It is unsustainable . Jim

[Mick_Marsh]

Just to add to this post , On Saturday , a house in Sydney sold for over $ 1 million over reserve price . $ 4.1 million . The article said two Chinese business men were in a bidding war with each other . The price just kept going up . This is madness , how are ordinary Australians suppose to compete at these levels ? I know It's a free market , and the sellers would have been delighted , as would there agents , plus the tax man " stamp duty , gst " but surly It will get to a point were It is unsustainable . Jim
My house is now on the market.
$1.5 million.
Where did you say those Chinese buyers were?


Chenz, Where in the eastern burbs? It may be worth while looking for your property in the north.
310 Tallarook Pyalong Road Seymour Vic 3660 - Acreage/Semi-Rural for Sale #119237059 - realestate.com.au (http://www.realestate.com.au/property-acreage+semi-rural-vic-seymour-119237059)
70 Ashes Bridge road Tallarook Vic 3659 - Lifestyle for Sale #7726335 - realestate.com.au (http://www.realestate.com.au/property-lifestyle-vic-tallarook-7726335)


Anything east will be overpriced but, hey, it's amazing what you do find.
491 Woods Point Road East Warburton Vic 3799 - Lifestyle for Sale #7690291 - realestate.com.au (http://www.realestate.com.au/property-lifestyle-vic-east+warburton-7690291)


Nothing spectacular but it gives you an idea on price.

[carlschmid2002]

Mick,
I presume you meant me. My ex-wife wants to settle around Heathmont, Ringwood area. We have a house at Heathmont that her brother and father currently live in. I am happy for her to have that and I keep my super. That place at Warburton sounds very appealing. Cheers. I will probably do 3 more years with Defence and by then I will be looking at Victoria. I might have to dive in early before they go up.

Carl

[Chenz]

Chenz, Where in the eastern burbs? It may be worth while looking for your property in the north.
310 Tallarook Pyalong Road Seymour Vic 3660 - Acreage/Semi-Rural for Sale #119237059 - realestate.com.au (http://www.realestate.com.au/property-acreage+semi-rural-vic-seymour-119237059)
70 Ashes Bridge road Tallarook Vic 3659 - Lifestyle for Sale #7726335 - realestate.com.au (http://www.realestate.com.au/property-lifestyle-vic-tallarook-7726335)


Anything east will be overpriced but, hey, it's amazing what you do find.
491 Woods Point Road East Warburton Vic 3799 - Lifestyle for Sale #7690291 - realestate.com.au (http://www.realestate.com.au/property-lifestyle-vic-east+warburton-7690291)


Nothing spectacular but it gives you an idea on price.[/QUOTE]

Mick,

I live in Sydney and am l not looking to buy anywhere just at the moment. In a year or two I hope to take SWMBO, the 130 and the boat and get out of the rat race.

The point I was trying to make is we don't all need to live on top of each other and the monopoly money prices at the moment are both unsustainable and will lead to huge social problems not too far down the track.

I feel for my son and daughter who will never be able to outbid the ridiculous prices some foreign investors are prepared to pay for a property in Sydney.

You can't buy a property in Japan and many other nations around the world and yet you can come here and buy anything from a garage in Paddington to Cubby Station.

Every auction around my way, Ryde, Eastwood, Rhodes - has interpreters for the asian bidders. I don't want to appear to be a racist, good on them if they have the $$ and we are silly enough to have laws that allow them to do it. However, there must be some checks and balances and don't give me "investment is good for the country" diatribe.

Short term yes, long term - I don't think so.

[Mick_Marsh]

My bad.
Your faces all look the same on the interweb thingy.

[carlschmid2002]

My bad.
Your faces all look the same on the interweb thingy.

I have been having a closer look at the Warburton, Healesville area. I have to ask you Mexicans, what is wrong with the place. This is exactly what I have been looking for. I will probably be down there at Christmas time and will have a closer look. I might have to put off the D4 purchase and buy a block. I have driven through Healesville a few times but I have never been to Warburton. Better keep those Chinese gents away from the place.

[Pinelli]

Just to add to this post , On Saturday , a house in Sydney sold for over $ 1 million over reserve price . $ 4.1 million . The article said two Chinese business men were in a bidding war with each other . The price just kept going up . This is madness , how are ordinary Australians suppose to compete at these levels ?

Given the reserve was about $3mill, I suspect 'ordinary aussies' weren't really in the game for this property anyway.:cool:

We've recently made two moves, from 3 acres (+5 bay shed) in the country, to a 650m2, 4 bed place in the burbs of the Sunshine Coast, with a 4 month interim in a 3 bedroom flat (overlooking Pumicestone Passage & Bribe Island). Given there are 5 of us, we lived surprisingly well in the flat, and I'm convinced that we could have stayed there permanently and been quite happy. The view helped :) The lack of space to store crap and work on the Landy was well and truly made up by the extra time not spent mowing the lawn but spent instead with the kids and wife out and about.

Having said that, there are plenty of 3 & 4 bed places in our suburb on 250m2, and to be honest I don't see the point. Might as well be in a townhouse or flat on half the space, with plenty of public space for parks and so on. Forget Asia, lots of Europe live like this.

[Mick_Marsh]

I have been having a closer look at the Warburton, Healesville area. I have to ask you Mexicans, what is wrong with the place. This is exactly what I have been looking for. I will probably be down there at Christmas time and will have a closer look. I might have to put off the D4 purchase and buy a block. I have driven through Healesville a few times but I have never been to Warburton. Better keep those Chinese gents away from the place.
From my point of view, it's east. Everyone lives east. That's why it takes longer to get into the city from the east compared to the west.
You would have to look at the place. Healesville and Marysville are nice areas. They are serviced by a highway.
Warburton is serviced by a smaller road. It is in the Yarra Valley and the road sort of follows the river, meandering about.
I have friends who lived in Wesburn and I've visited Warburton. I've also visited Healesville and Marysville. They're all nice places.
Hmmm, winter is the best time to visit the eateries of the area. I must go for a Sunday drive out there soon.

[jimr1]

I have been having a closer look at the Warburton, Healesville area. I have to ask you Mexicans, what is wrong with the place. This is exactly what I have been looking for. I will probably be down there at Christmas time and will have a closer look. I might have to put off the D4 purchase and buy a block. I have driven through Healesville a few times but I have never been to Warburton. Better keep those Chinese gents away from the place.
Hi Carl , Warburton is a nice little town , nested in the Yara valley , Gets a lot of day trippers . There is only one main road in and out , If you have to travel over the mountain , that can be a pain in peak times . It is worth a visit , walk along the river Yarra river , or that a look up behind the golf course . Go and check It out you may be pleasantly surprised , also It does get cold , as It is starting to get high !!.. Jim..

[rangie ute on 38'']

I must agree with the above and a good start would be the government looking past the over crowded cities and moving our economies out to our country towns, plenty of people would be happy to live in a small town if there was work and employment I certainly would. it would go along way to helping a number of problems including house prices,congestion ect

[jimr1]

[QUOTE=Mick_Marsh;2370221]My house is now on the market.
$1.5 million.
Where did you say those Chinese buyers were?
Mick there working there way over to Western Victoria ! Just give them a bit of time. At the moment there buying up Sydney . your not in any hurry are you ???..Jim .:D

[V8Ian]

Mick, replace the Mercs, Landies and private army with Great Walls and Cherys. I'm sure you'll attract your Chinese counterpart.

[Tombie]

No... the Biggest problem is ******* willing to pay stupid sums of money for kiln dried Clay and a bit of dirt...

And everyone who feels the overwhelming urge to own a McMansion...

Nothing like an oppressive mortgage and all the stresses imposed by it...:angel:

[DiscoMick]

[QUOTE=Mick_Marsh;2370221]My house is now on the market.
$1.5 million.
Where did you say those Chinese buyers were?
Mick there working there way over to Western Victoria ! Just give them a bit of time. At the moment there buying up Sydney . your not in any hurry are you ???..Jim .:D
They're only a small % of total buyers. Suggest you are much more likely to find a buyer among Aussies than Chinese.

[Chenz]

[quote=jimr1;2370524]
They're only a small % of total buyers. Suggest you are much more likely to find a buyer among Aussies than Chinese.

They only buy near train stations Chatswood, Epping, eastwood, Hurstville, Strathfield etc.

If they put in a station they will be there:wasntme:

[Mick_Marsh]

They're only a small % of total buyers. Suggest you are much more likely to find a buyer among Aussies than Chinese.
Yeah but they won't pay silly prices.

[DiscoMick]

Yeah but they won't pay silly prices.

There're aren't many Chinese and there are a lot of Aussie buyers, so some Aussies must be paying silly prices.

[Chenz]

There're aren't many Chinese and there are a lot of Aussie buyers, so some Aussies must be paying silly prices.

They have to if they want to compete. You can cut it anyway you like bu the fact is they are one of the biggest factors in driving up the real estate prices at the moment and our government is letting them do it.

Sydney house prices driven by Chinese 'bolthole' buyers (http://www.smh.com.au/business/property/sydney-house-prices-driven-by-chinese-bolthole-buyers-20150421-1mpnyw.html)

Asian house and land buyers flock to Sydney property expo | afr.com (http://www.afr.com/real-estate/residential/asian-house-and-land-buyers-flock-to-sydney-property-expo-20150426-1mrg1t)

No Cookies | Herald Sun (http://www.heraldsun.com.au/news/victoria/million-chinese-buyers-look-to-buy-australian-homes/story-fni0fit3-1227042127068)

[jimr1]

I understand market forces , also supply and demand . I have only worked in the construction industry since I left school . That was back in the 1960s , so when I see a house sell for these huge amounts , I can't see the value . Take a house that was built 10 , 20, 30 ,40 years ago compared to say a modern home . Take a 30 year old house , take were It is located away , building costs would all have been around the same . Labour , Materials , Permits , Services , ect. So when I see 30 year old a medium suburb , house that cost X now cost Y I start to think , if that house burnt to the ground , It could be rebuilt for less than It's market value !!..

[Tombie]

Yeah. Madness.

I have a 1946 Bungalow - 1/4 acre with a 96sqm workshop and (pending) 72sqm Man Cave on the property.. Still have plenty of yard...

Neighbours are 3 car widths away each side, lane way access behind...

We raised a son and half his mates without a problem...

And without the oppressive mortgage!

Decentralisation of populous needs to be back on the agenda again.. We've done it a few times in Australian history.

Far better than living in someone's pocket...

And the prices... Good grief!

[jimr1]

Yeah. Madness.

I have a 1946 Bungalow - 1/4 acre with a 96sqm workshop and (pending) 72sqm Man Cave on the property.. Still have plenty of yard...

Neighbours are 3 car widths away each side, lane way access behind...

We raised a son and half his mates without a problem...

And without the oppressive mortgage!

Decentralisation of populous needs to be back on the agenda again.. We've done it a few times in Australian history.

Far better than living in someone's pocket...

And the prices... Good grief!
I love your quote , " raised a son and half his mates " this is the Australia you describe that I love . I don't care about Asia , or Europe , were they have huge populations , and land is at a premium . This is the lucky country , were we have space , and It should be affordable , not where people have to be in high debt , for a home , and slaves to the banks . Jim

[DiscoMick]

Yeah our current city house is only 3 beds and we're transitioning to the country over the next few years to a 3 bed house we are buying there. Neither is flash but both are enough to be comfortable. Life is about more than McMansions.

Sent from my GT-P5210 using AULRO mobile app

[d2dave]

I left Melbourne for a country lifestyle 15 years ago and have not looked back.

One of the best things I ever did. Will be moving soon. Have our eye on a lovely 4 bedroom house on four acres, 1.2 km from town.

Just under half a mil.

I will be able to build my dream shed, about 9m x 18m

[DiscoMick]

Yeah our current city house is only 3 beds and we're transitioning to the country over the next few years to a 3 bed house we are buying there. Neither is flash but both are enough to be comfortable. Life is about more than McMansions.

Sent from my GT-P5210 using AULRO mobile app


I know what you mean. I started in the country, moved to Sydney, then back to the country and then overseas to Bangkok (a real mega-city and quite an eye-opener) and now back to Brisbane. Looking forward to going back to the country again.
We're going to convert the garage to a studio flat for ourselves (family are in the main house). Then I get to build a shed!