Australian Housing Most Unaffordable in the World!

[londoncabby]

http://www.dailyreckoning.com.au/australian-housing-market-4/2008/01/21/

Australian Housing Market Most Unaffordable in the WorldWill Aussies turn to property in a share market slump? If they do, it will be hard to find anything cheap in the Australian housing market. "Australia (with New Zealand) has the most unaffordable housing [market] in the surveyed nations," economist Wendell Cox concluded in a recent report on global housing markets.

There hasn't been a house price crash here, like the ones unfolding in America and Britain. But affordability in the Australian housing market is clearly a problem. Of 227 cities surveyed, Cox found 18 Australian cities in the top 50 of "least affordable" in the world. "There are no affordable [housing] markets in Australia and there are no moderately unaffordable markets. Twenty-five of the 28 markets are rated severely unaffordable."

"All of the large capital cities (Sydney, Perth, Melbourne, Brisbane and Adelaide) are rated severely unaffordable. The best ratings are seriously unaffordable in three smaller markets, Maitland (NSW), Ballarat and Bendigo (both in Victoria)."

 

[fishbuff]

there are houses in the western suburbs of brisbane that are selling for like $250k complete with 650m2+ of land.

 

[QXD]

there are houses in the western suburbs of brisbane that are selling for like $250k complete with 650m2+ of land.

As usual, the lamer is quoting old news.

Look at where property prices are now for U.K and Oz.

Oz is still standing.

 

[fishbuff]

As usual, the lamer is quoting old news.

Look at where property prices are now for U.K and Oz.

Oz is still standing.

there are new land and houses being released all over the place but the prices are holding at the current market value. They are not likely to drop $50-100k because of more choices, every developers want to maximize their profits, so for the land size that are currently released, only 300m2 and 400m2 are available and the house are mainly made of cheap untreated pine wood and those plastic cover instead of bricks.

 

[Aussie Prick]

Old News, this has been reported b4.

 

[ahben]

there are houses in the western suburbs of brisbane that are selling for like $250k complete with 650m2+ of land.

heehee how about inala, it's cheap and good viet food there too....

 

[fishbuff]

heehee how about inala, it's cheap and good viet food there too....

if u are brave enough to stay there. anyway, the train line is joining up springfield, inala/richland, forest lake, and with the price of houses keep going up, eventually all those public housing will be displaced further and further away.

 

[axe168]

if u are brave enough to stay there. anyway, the train line is joining up springfield, inala/richland, forest lake, and with the price of houses keep going up, eventually all those public housing will be displaced further and further away.

Hmmm.. any news for eastern suburbs in Brisbane? M1 completed yet ?

 

[neddy]

As usual, the lamer is quoting old news.

Look at where property prices are now for U.K and Oz.

Oz is still standing.

Does it matter? I have interested buyers for my yet-to-be completed properties.

 

[fishbuff]

Hmmm.. any news for eastern suburbs in Brisbane? M1 completed yet ?

there wont be any highway along the eastern side as there. the ipswich motorway has completed. it is quite convenient to travel from ipswcih to cbd..45mins drive.

now u can travel from springfield directly o the cbd by using the centenary highway. however, i heard that it will be tolled soon. QLD is broke, resorting to tolling, selling off public assets, fines etc.

 

[axe168]

there wont be any highway along the eastern side as there. the ipswich motorway has completed. it is quite convenient to travel from ipswcih to cbd..45mins drive.

now u can travel from springfield directly o the cbd by using the centenary highway. however, i heard that it will be tolled soon. QLD is broke, resorting to tolling, selling off public assets, fines etc.

Kevin Rudd is coming down.. thanks to his spending

 

[fishbuff]

Kevin Rudd is coming down.. thanks to his spending

before he takes over, oz has surplus $11+ billion, now all gone and ino debts. I never like Labour party, so what if he can speak mandarin.

 

[wrcboi]

labour is all about spending as usual...liberal is all about saving

 

[axe168]

labour is all about spending as usual...liberal is all about saving

How I wish PAP can govern Australia.. show them what is cheaper & faster, of course never show them the Temasek way.. it is a disaster

 

[IWC2006]

How I wish PAP can govern Australia.. show them what is cheaper & faster, of course never show them the Temasek way.. it is a disaster

Na, PAP governance style only works in Asian society, not western. If Singapore has the same geographical size and rich natural resources as Australia, I doubt it can excel that well. It would be better to get a American like Hillary Clinton to make Australia a more competitive and efficient country and yet retain the western roots.

 

[chewed]

How I wish PAP can govern Australia.. show them what is cheaper & faster, of course never show them the Temasek way.. it is a disaster

i think you have been poisoned again by your recent trip. get a grip of yourself and come back to the real world.

 

[neddy]

How I wish PAP can govern Australia.. show them what is cheaper & faster, of course never show them the Temasek way.. it is a disaster

Why cheaper & faster? I need a life!

I just visited Singapore, everything so expensive and its BS about growth when my despondent friends there are still driving taxis.

Yes, they drive taxis fast with cheap fares.

Too old. Unemployable, even the NTUC cannot help them because they are considered more expensive and slower than the FTs. Nothing has changed!

When is the Golden Age of Singapore coming again?

 

[axe168]

i think you have been poisoned again by your recent trip. get a grip of yourself and come back to the real world.

Wahahaha.. maybe i enjoyed the shopping and frz companion.. The bloody beer is expensive thou..

 

[Aussie Prick]

How I wish PAP can govern Australia.. show them what is cheaper & faster, of course never show them the Temasek way.. it is a disaster

What a funny thing to say - surely you are aware the Australia has borrowed heavily from many concepts from Singapore?

Dont tell me you never knew in the 1990s the Australian Government sent representivtes to benchmark the Singapore Government?

 

[senatorabudelai]

Australia's housing is not the most expensive in the world. London's is.

You can get a one bedroom coffin in a city for around 200k aud. All the jobs in Australia are centered around the major cities, so you have to live near a city.

Same as in the UK, all jobs are in London. The apartments in London cost 2-5x those in Australia. And it rains almost everyday there. The skies are crying.