American tries to find an affordable house in Australia (Challenge level: HARD)
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- Опубліковано 6 тра 2024
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You’re now enjoying an Australian’s most common past time.
I remember satisfied dads reading the trading post every weekend , now it's real estate
@@ZootZinBootZ Back when our father's knew the value of a used jousting stick.
Well the truth about Australia is your looking at a bunch of smart hustling lazy people hence why everything is so expensive as no one wants to work but retire early
Banks are the new gas chambers
Thats really not a beach you want to be swimming in. All you will see in the Gulf will be stingers, sharks and plenty of crocs.
If you're lucky, you'll see them before they see you, too.
😆 lol
And still need to think about work...
😂
cloncurry is a tiny town of 3,000 people in Western Queensland. It's 8 hours drive away from the nearest city of any real size (townsville, pop 180k) and 18 hours drive from Brisbane.
A lot of aboriginals live in central QLD. Some aren’t the best to run into at ngt. Huge crime rates.
The further away from Brisbane the better
Umm, Cloncurry to beach is 180mile as crow flies. That beach is Gulf of Carpentaria-salties, sharks, box jelly fish, fun for the whole family 😊
Forgot to mention it has also achieved some of the hottest temperatures ever recorded in Australia.
And five kilometres of mudflats to navigate before you see the water.
Crocodiles too!
Whole family as is grandpa shackdoodoodoodoo😂
and Cloncury is remote QLD, only has a population of 3,000 people so no jobs and the closest "city" is Mt Isla, 1 hr drive, has a population of around 18,000 people with the main industry being mining! The closest city with specalist services and higher education and different jobs outside of mining is Townsvillw a 9hr drive! or you have to move to NT! - sounds affordable but isn't when you have to travel significant distances for basic amenities... oh and food etc is significantly overpriced compared to major cities!
As you’ve noticed, most homes in Australian cities are sold by auction, so it’s kinda impossible to search for homes by prices, unless to look historically (i.e. sold homes), because you’ll only know the price on the auction day.
Most sellers conduct in an illegal (but hard to enforce) practice called “underquoting”, i.e. listing a home at a grossly undervalued price, well below the (secret) auction reserved price, let alone the expected sold price.
The idea is to entice potential buyers to enter an auction for a home they can’t afford, but because they’ve invested so much emotion, time, and money (inspection fees and legal costs to prep the contract), they’ll feel pressured to win it.
(In an auction, you typically can’t have conditional clauses, so you have to do all due diligence prior to the auction, which costs time & money).
By the time you’ve gone through 10 auctions, you’ll feel like you’ve wasted more money than if you had bid just a bit more to win your first one. Additionally, you’ll also have wasted a lot of time since you’ve had to wait for the auction date for each home (can’t make an immediate offer). This all adds pressure that your next auction shall be your last.
That’s the psychology of house auctions in Australia. So don’t trust the listed price. My general rule is to add 25%.
This is the opposite of the US (and elsewhere) where the sold price is usually lower than the listed price. If you’re willing to pay the listed price, the house is yours - not that simple in Australia.
Great explanation. I confirm this is exactly what happens in Australia.
Australia is sounding like a third world shithole more and more as time goes by.
Crooks' paradise
Moves to Cloncurry. Heads to croc territory for a swim 😂
The old Mary Kathleen mine is but a short drive away. Swim in Radioactive water and glow in the dark or go to Lake Corella and swim in the birdshit from the migratory birds.
Eat flies and enhoy the 47c (117f) temperature 😂
2 mill for a house in Greenacre?
I suppose you want those walls made of sturdy stuff for the odd drive by shooting.
Ridiculous Greenacre an old 3 bedroom house one bathroom 1.6 million
My parents moved there in the sixties because it was the only location they could afford.
Sadly you just get cheap plaster walls with no insulation.
Absurd isn’t it .
my first house was Greenacre $278k 25yrs ago
When Australia moved from housing being a human right to an investment opportunity like the stock exchange, things went pear shaped. Good luck trying to to fix that mess 🙄🙄🙄🙄
Uncontrolled capitalism at its finest.
@@seansteel3326Mass im.migration caused this.
Thanks the John Howard's first home buyer's grant and the opening of the flood gates to unsustainable immigration. Not that any government since has tried to do anything to stem the bleeding.
@@none4126no it did not. We need migration. This happened because we made housing a non essential and did not put in any checks around who is buying these houses. Australians are very gullible and rarely think ahead.
@@TheSpermalanwe don’t need mass immigration. Why would any country need mass immigration? It just creates problems.
Infrastructure unable to cope/ housing crisis.
The problem is the world is stupidly interlinked as to banking and GDP which rules over us.
Instead of countries being self sufficient and creating flourishing societies for citizens we see politicians being told they must tie the line to certain agendas. It’s about power and domination over countries
My daughter and son-in-law bought a house in the Glasshouse Mountain area of the Sunshine Coast when she was expecting the twins. It was fairly new then, just 3 yrs old. It cost them $Aus 240k. Now, thirteen yrs later and with six boys, the place is a tad crowded, so they asked for a current valuation. It is $Aus 2.1 million!! They're staying put!!
Oh wow, they got a whole footy team lol!
must be nothing to do up there except to fuck
Glasshouse, Beerwah and Landsborough are grossly overpriced.
@@feral4mr2truthfully the whole coast is overpriced. I was there almost my whole life and the entire area is pretty much one big ass nursing home. Well from my perspective at all. It’s an aged community here that goes post apocalyptic after 4pm. It’s hard to feel like I’d be getting my moneys worth.
@@brkmv4775 That was how the entirety of South Australia felt, most of the Adelaide CBD starts closing up shop at 4PM even though they list their hours as up to 5PM they'll still just turn you away because they've already turned off the machines or whatever.
I hated living there, no job opportunities f or anyone under 30, nowhere to live and the elderly people living there just didn't care at all unless the youth started doing burnouts in their streets.
It's the same with the elderly in QLD where I live now though, they dont care about the state of things unless it directly annoys them in some way. Eg; the dangerous hoons doing drag races in the hills around here only got reported when the local roadworks pulled enough trees down for the old people to hear the races at night. Ironic that it only mattered to the people when it was annoying THEM and didn't matter when it was annoying only a few people.
Same shit everywhere, you talk to the older people and it's either "I am so sorry we let this happen" or "You're just lazy and don't work hard enough."
I stopped caring and hoping for a new job or getting a house years ago, I keep applying every day to get my welfare payments but it's been a decade and everyone tells me I just didn't try hard enough, I should have tried like they d id in the 1950s or 1960s.
I think the thing that gets to me the most is how upset they are that we younguns dont randomly visit the elderly neighbours, but they never come visit us, we basically don't exist unless they want something from us, so I just refuse to participate in a system that is set up to reward that behaviour.
Cloncurry is 330klm from the Arafura Sea,.nothing there except big crocs. If u were to go east, you would travel 800 klm to Townsville, where it is more populated
yeah... In Australia this is also known as "bum-f**k-nowhere" 🤣
What sea is that again
@@matthewmcclure5218 Arafura. Check it out on a map 🙂
Or go grocery shopping in Mount Isa. Just a short 105 kilometres to get the basics.
And townsville is crowded and overpriced as the rest of Australia 😅🤣
It's not news to us Aussies because in 1981 my house was worth 40K and now in 2024 it's "worth" 1.1M and it's hardly changed at all since 1981. I live in the outer Sydney area.
If anything structurally its older too 😂
Where I used to live, my neighbours bought their 2 bedroom weatherboard, 1950's house for $40,000 in 1980. In 2014 (yes, 10 years ago) they sold it for just over $1,000,000 to a guy who just wanted the land. He knocked the house down and built two units.
That was and still is commonplace in the area. The house is worth noting but the land was over $1,000,000 for 603m2 (1/7 acre) and that was 10 years ago. This is in Melbourne.
Imagine how house prices will go up in another 40 to 50 years. Get rid of excessive government taxes on the purchase and selling of property and the prices may level out
yuuuup, 2.5 hours north of sydney, in a bit of a booming suburb/area - even my house which i bought for 410 last year (yes, only last year and no, it's not worth anywhere near that) is already "worth" over 520 now. Shit's insane fr
The house I grew up in was the same…. But in Perth. Mum bought it for $22,000 in the 1970s and sold it for about $500,000 around 2010…
Housing prices go up, but so does wages, inflation etc. in 1980 I could buy a brand new Holden commodore for $5000 too. But now they cost around $$50,000. Housing and land has always been something that increases in value and location makes a massive difference.
Absolutely crazy, I actually live in Greenacre and these prices are some we have never seen in our history. The house I live in now I bought for $700,000 in 2014. It’s now 2024 and the value of our house is 2.2 million. My family were convicts sent out when the British colonised Australia in the late 1700s. They were given the areas which were called Wattles Bush and my family had farms here. We subdivided through the generations selling it off to developers and that’s how we are here today through just selling our land. I think about what my great grandparents who lived in a suburb called Lakemba which is next to Greenacre would think, though bought the land for 21 pounds in 1930 and now houses are millions. The quality of house is also so run down, you’re really paying for lack of stock on the market and being in Sydney. Absolutely nuts.
spot the Aussie
Mass immigration is a big reason for the house prices
@@IceBreakBottlethe root cause is the liberal government slashing property taxes and making it investment heaven. since then all they've done is rise in price at increasingly rapid rates
There’s no such thing as affordable housing in oz. They’ve done to us with housing what they did to Americans with healthcare
wwrong just wwwwrong. look harder. look smarter. and think about moving up a ladder
Look on the map. Greenacres is not "small town outside Sydney", its inner suburb, 30 min from CBD by train (20 by future metro line), between M3 and M6, next to Bankstown. Like middle Brooklyn in NY. "Outside" is Camden, Appin, Gosford.
Oh no Ryan! Cloncurry is in the outback of Queensland and crocs are known to be in and around the local dam, long droughts and tropical downpours means a high chance of floodwaters, don't forget that the majority of folk living in Australia are within 50 kilometers (30 miles) of the coast and that excludes most of the north coast of Australia!
It really is a shit hole Mate
I live 150kms west from Cairns. No crocs here but we do get freshies in the rivers.
Cloncurry - ever heard the saying out the back of woop woop
The house up for auction in Greenacre sold for $1.2M, not $2M. You just paused at the wrong time. lol
These Sydney prices are why, as soon as I'm able to, I'm buying a bus that's been converted to a motorhome. An added advantage is, If I don't like my neighbours, I just need to drive somewhere else, not move house again.
the most realistic young australians dream for owning their own home is just living in a car. that used to be called homelessness
So true
The government has also significantly increased the amount of immigrants that have come to Australia in the past year. I am all for immigration but it needs to be balanced with available services and resources including ensuring that there is enough houses for Australians.
imigration isnt the cause of house prices increasing lol
@@TimTams_64exactly its a greedy real estate industry that isn't capped or regulated
If u print money ,u need more money to buy assets,.
In 1999 i went on a 6 month holiday that cost me $6,000 living like money was never going to run out travelling in australia.
In 2024 to do what i did in 1999 would cost u $20,000.
Yes shortage of housing isnt helping. But inflation and taxes are a killer
@@TimTams_64 don’t be obtuse, it is by and large a major factor in increase in demand. The government has gone all in, on an inflated false GDP, driven by immigration, and tourism in general, in their mind it’s to prevent a recession, due to their excessive spending, they are increasing net immigrating every year, which is outpacing our ability to build new homes, (as well as roads and hospitals ect) . Literally a trove of building industries are going under each year, which is going to slow down any real building efforts. The government, won’t try and fix it either, as fixing it will absolutely destroy people financially. If you buy a house worth 2 million dollars, and it’s valued at that due to demand, and then suddenly, you have a surplus of houses, the market value for your home will drop, but you will still have an outrageous mortgage, that is higher than the value of your home. Importing a quarter of a million new people each year , while you are currently in need of 500000 homes to be built, is an issue caused by immigration. Back off on immigration for a decade, build up our building industry again, and put regulations, on the number of homes that can be purchased and remain unoccupied, prevent large corporations like black rock from investing in our domestic housing as well.
@@TimTams_64 Makes sense though, more people means more demand.
"Little outside my budget, just 1 million dollars over" 🤣😂
Welcome to living in Aus hahaha
Cloncurry is 600 klm from the coast and nearest mid size city, Cloncurry has a small population but is a lovely town, very hot in summer.
In Sydney you must both work and earn $200k each.
State governments aren’t efficiently building transport infrastructure which would make new housing further out more viable, land is not scarce but currently viable locations are.
Laughed when you realised you were in AUD Dollars. If you’re looking at Cloncurry for surfing you might need a plane. It’s definitely not 180 anything to any beach.
Note: Lenders Mortgage insurance covers the bank you borrow from, not you😢
And the lender rolls it into the home loan so you have to pay interest on it! Such a rort.
First home buyers generally don't have to pay LMI
I worked for one of the 2 insurers that could offer LMI in 2014, it was a licence to print money for the insurer.
I'd never heard of it.
@@gusdrivinginaustralia6168 People wouldnt have if they haven't borrowed money to but a house.
Usually, its a requirement to get the loan, a bank wont approve you without it. Its wrapped up into the loan amount, and so the bank takes the money, pays it to the insurer and covers the money borrowed. So you pay your loan off to bank A, bank A buys an insurance policy from insurer B, that covers if you cant repay your loan, the bank seizes and forecloses on the property, and the LMI covers the shortfall between what you owe the bank, and what they get for the sale of the property. So essentially, you the individual are paying for the banks insurance to no benefit to you, and you must do this to be approved for a home loan. Bit simplified but thats how it works :)
America has a housing crisis, most European countries, especially the UK, have a housing crisis. This is all part of wages being 15% behind the inflation rate, as employers moved from caring about their workers to caring about their profits.
Moron. When the wages go up, all the prices instantly go up a lot more to cover said wages.
The whole west is getting worse and probably intentionally trying to move all wealth to a two class system and wipe out the middle class.. you'll own notning and you will be happy.
For Australia properties have been inane though for a long time.
Sure you can raise wages to compete with inflation, but that is just treating a symptom of a larger problem that is inflation. Fixing supply and demand issues across all industries, should be the target to curb inflation. Governments are so slow, at finding alternative resources, it will be a good decade before anything worthwhile corrects this issue.
@@stevewonder9523Nah, that makes too much sense, mate. We gotta blame the bourgeoisie.
We worked in Burketown (northeast of Cloncurry) for the tourist season back in 2003 … the roads through that area are horrendous and generally impassable from October through to April. Our groceries were delivered from Cloncurry, which isn’t a large town.
I've watched your posts as they pop up for a couple of years now... ok, so I've been a bit slow.. but subscribed today. Capital cities often have auction as the prime method of sale. Regional areas still prefer - setting an asking price / price range, takin offers and negotiating.
Same in NZ mate, have to win the lottery to buy a home now!
I've got my ticket 😢
I'm over the ditch in Victoria. I was in NZ in 2008. I couldn't believe how expensive everything was, including real estate. No wonder hunting, fishing and gardening are so popular over there. Here they're considered hobbies, over your way it's a case of survival.
Auctions are very common in Melbourne and Sydney. Not so much in other places.
Yes, and offers over a nominated amount, real-estate agent does everything to squeeze every last cent they can get out of buyers. The good old days of a listed price then bargain that down are few and far between.
Yeah not in Brisbane
I bought my first home (3 bed, huge backyard) on my own for under $200,000 in Cooma NSW. I had little savings and a low-paying job. It was very very old, needed a LOT of work, nowhere near a beach, but it was a roof over my head. I made some improvements and sold it, making enough of a profit to put a deposit on the 1 bed apartment I'm in now, in Canberra. Not near a beach, but living my best life in the best city in Australia (don't @ me fellow Aussies you know I'm right). The housing market is definitely terrible but for some people it might be worth thinking outside the box of "I must have a house in Sydney/Melbourne".
I paid far less than your shoebox, for a large house on SA copper coast. I have beaches and fishing at my doorstep and my house went up in value over 100k in the last year, ironic as I brought it last year.
I went to high school in Cooma. I lived in Canberra for eight years and loved it there! Still enjoy Canberra when we visit.
@@jamesaustralian9829Cooma isn’t that far (1.5 hrs) from the coast and it also has the Snowy Mountains on its doorstep. Lovely place to live too. I do love Moonta, etc … spent many summer holidays there … love SA. I was born in Adelaide and later lived and work up at Roxby Downs for six years.
It's the same in suburban QLD and semi-rural QLD/VIC/NSW, don't be a prat and project your lucky life on others.
My parents moved to Australia in 1981. They bought a 3 bedroom house with a pool in the eastern suburbs of Melbourne for $39,500. My father had a decent white collar job with IBM earning about $30,000 pa. My mum was a full time housewife and us three kids were sent to a private school, all on one salary.
Some friends of mine bought a house 3 years ago in the outer eastern suburbs of Melbourne for $910,000. Combined they earn about $240,000 pa (good salaries) . When you compare the differences it's obvious how insane the prices have become, let alone dropping a salary when they want to start a family. Very few couples can afford to live on one salary for long when they start a family. It's even trickier for people renting to buy a home as rents have skyrocketed so saving for a deposit takes years... If at all.
Future historians will study with amusement as to how the great Australian dream was destroyed within about one generation of time. It was really from somewhere around the year 2000 or so that things started to begin to become silly.
Hate to say it but living near the beach probably means nothing to most Australians. I live in Melbourne and I’m about 30 minute drive from St Kilda beach and the last time I went was over a year ago and the time before that was around 5 years.
Beaches are mass populated with boomers, flogs and tourists.
Touch grass nerd
Auctions have been popular here for many decades, usually in a Heated market as it virtually guarantees a result on the day of the auction. There is usually a Sales campaign by the Agent for about 4 weeks prior to get interest in a property.The normal Sales by viewing with an Agent is still probably the more preferred way to go overall. This does have some risk as buyers may pull out before exchanging contracts,mainly due to finance falling over.On a sliding market the normal Sales by. agency tend to be the way majority of sales are done. Settlement is usually 5 to 6 weeks , even with an auction as Banks can delay things.
No Greenacre is a middle ring suburb of Greater Sydney.
We have CBD (Central Business District), Inner City suburbs, Inner Western suburbs, Southern suburbs, North Shore, Northern suburbs, Northern Beaches, Parramatta, Western Suburbs, Outer Western suburbs, Southwestern suburbs, Sutherland Shire, Lower Blue Mountains and then the Blue Mountains (higher elevation).
The traditional home in Sydney was on a quarter acre block, because land was cheap back then. So homes in older suburbs are built on roomy blocks of land. Most of Sydney is free standing homes.
Newer homes are McMansions that fill the block and are often on smaller blocks.
Long skinny blocks, with houses connected to each other, is how the first colonials built. That was what they had in England. To get more yard. You had to get the end one of your block of houses. Some houses were 2 stories, with around 12" wide steps, up the wall, to get up there on. Folks were shorter and not too big, on what they could usually eat then. That building style did not consider the lack of windows in the heat. Cloncurry is a town miners live in. Air-con is pretty big there. A long way from the coast. You should try Brisbane or Cairns, or Perth. Jobs were hard to get in Cairns, when my sister tried 11 years ago.
Check out Perth/West Australian housing market. Not as expensive as east coast and mostly NOT sold via auction. And the weather is much better. 😊
Perth is very HOT 🔥
@@ooooolooooo And dry. I prefer a tad more moisture.
@@oooooloooooyep….. we are back up at 29 degrees for the week. But summer is hell fire hot
Apparently Adelaide is cheaper than Perth
@@lillywildflower Summer can be very hot, as it was this year, but the last few years were quite mild in comparison. Perth is not as humid, or cold, and doesn't seem to get as many storms or rainy days as the east coastal cities. You can have an active outdoor lifestyle most of the year, if that's what you're into.
That would be one hell of an 180 Mile road trip 🐊
The auction is favoured by real estate agents as it increases the agents fees and boosts the profits sellers profits related to the fear of missing out bids.
Cloncurry is so far from ANYTHING 😂
I used to live next door to Cloncurry , in Mountain Isa. The Curry was always the smaller and less popular town but that’s not to say it wasn’t good. Many people lived in both towns all their lives.
Except Mount Isa!
Greenacre,Bankstown, Punchbowl and Lakemba are all in Western Sydney and have been popular with our Middle Eastern community. There are some great restaurants in these areas.
I lived in Mount Isa and Cloncurry.. I love the Curry good place to live.
Wait till he goes to the beach - I wonder how the crocs like their American fast food?
Yes, large boards out the front with some photos and details and selling by auction are both typical in Australia.
We'll have a tent shortage before you know it.
A lot houses are sold by auction here, probably 30 years it used to be by price negotiated between the buyer and seller with real estate agents acting as intermediry.
Auctions are the preferred way for real estates to sell. That slowed a little around covid. Plus the advertised price is always below the reserve price to get more people in for inspections and at the auction. Usually min 50k below but can go way above what's advertised
We sold our place here in Melbourne during Covid.
The only way they could view the house was the agent walking thru with laptop camera.
On line Auction.
And it sold well over our maximum price! 🤯!
You can still buy something decent in Hobart for around 500K, be 20-30 mins from the CBD, have beaches and mountain bike trails, hiking, sailing etc on your doorstep...nice in the Summer and have snow in the Winter.
pretty much only auctions in Sydney, even back in 2019
im Aussie and 82 years old and never heard anyone say happy arvo.
No, you haven't. Arvo is not a term used in greetings of any kind. In fact, most people aren't aware of the origins of the term "Arvo". Many believe it to be a colloquial abbreviation of "afternoon" when it actually means the socially acceptable time at which one can start drinking i.e. "I'll see you at the pub, this arvo". "We're having a few beers in the backyard, this arvo". "Barbie and beers, this arvo". "Grabbing a slab and going fishing, this arvo". "got pulled over by the cops, yesterday arvo, and did me license for 12 months".
You're an Aussie as am I arvo is a common word. Goes with good arvo. We like to shorten names for example pawpaw very few Americans would say that.
@@trythis2821 yes a common word for common people.
@@user-rh4yd2nm2p Thanks camaraderie commandant
I'm 81 and I have dementia
There are various ways of selling property in Australia. Some states have specific laws either banning auctions or requiring some other methods.
Otherwise, the vendor and the agent consider the best approach for the highest price.
A property that is attractive to a wide range of buyers can get a higher sale price in an open competition like the first house. Three bedrooms in a mid-range suburb is affordable to a lot of buyers.
Also, some buyers are not pre-approved by their lender to buy at auction. They are there hoping it will be passed in if the reserve price is not reached and the vendor won’t lower it to get a sale.
Once it is passed in, the watchers can try to buy it based on their best offer. They know the market value from the last unsuccessful bid. So they can tailor their offer either higher than that bid or lower within their approved level.
The last unsuccessful bidder usually has first opportunity to negotiate a sale price with the vendor through the agent but auction conditions may still apply - sale is complete on auction day with no cooling off period. If they don’t negotiate, they can still make an offer later on that will not be under auction conditions so a cooling off period may apply.
But a mansion would be a different market. Very small pool of potential buyers probably would nit use an auction.
A quirky house would not attract a wide range of buyers, so auction would be avoided.
We have a choice to list our house with a realtor or we can choose to put it up for Auction. In a sellers market like we have at present it’s better to auction it off because we can get a better price for the house.
You should have a look at the house price in my area, Hervey Bay QLD, we still have a few bargains around here and Maryborough is only 25 minutes away and very affordable. 😊
Don't they have 2 heads in Maryborough though? That was what my father told me when I spent some childhood years in Urangan
Us Aussies may need to start buying up USA houses and renting them out...
That was a thing about 10 years ago.
@@continental_drift what was the return like on those investments?
Or maybe get the government to make some major changes like abolish negative gearing and introduce renting caps. Why do to others what others have done to you to create a mess in your own country?
loving the videos bro :)
Lmao the other thing about Cloncurry is it's towards north Queensland, which is one of the hottest parts of the east coast. It can legit hit 50c up there sometimes, and the further you go away from the coastline, the more sparse civilisation tends to be.
In 1971 the AUD was not deregulated which means more people were able to afford a quarter acre block with a house on it. People would have saved a third of the cost of the house as a deposit usually lending the rest from the bank at an invariable rate. The term of the loan usually was 25years
In 71 you could buy a 3 bedder in a good location for under 40k
@@jamesaustralian9829 exactly
And the population of Australia, in 1971 was 13 million, less than half of what it is, now.
I don’t think auctions were always common, but with how high the house prices are, they can make more money actioning the house because some will usually be willing to add another $10-100k onto a house that is already going for 1.2-1.8 million
Perth or Adelaide if you want to get a house within half an hour from the beach for under $600K.
Maybe a scum suburb in Perth...
@@JillMarshall-xy6td??? I lived in Perth for 15 years before moving back near family three years ago. I lived in an outer suburb, safe, lovely caring community, everyone friendly and welcoming from the day I moved in until the day I left. I still keep up with friends there. I had a nice 25 year old solid brick 4x2 home on a decent sized block only a 35 minute drive to the beach. It’s currently valued at $410K and that’s a typical price for that suburb.
Yanchep
@@ht8286 it's a joke we consider Yanchep IN perth nowadays. Used to be a bloody camping trip.
Greenacre is approximately 20 klm from the CBD,head west to outer suburbs and still 60 klm from CBD is around 1ml
Australian citizen here. Laughing at your reactions to the prices 😂😂. It’s insane over here
Greenacre is a horrible place to live. I worked there 2 days last week and it’s just too busy. No parking anywhere, people do knock down rebuilds and have 3 generations living there. Not 2 car families, it’s more like 4-5 car families . Also my small 2 bed apartment which is 770sqf is valued at $380,000aud . Nothing in the town I live in (Penrith) is available for less than $300k 😳😩
That $1.6m house is very typical of most inner-city houses in Melbourne & Sydney. They are called "terrace houses" and were generally built between the 1870s & 1890s. Funnily enough they were the "workers cottages" and were built for poor people originally, but are now highly sought after, partly for their period charm, but also because they provide a perfect compromise between a large suburban house and an apartment - you still own your own land and can renovate/extend and have a small yard etc, but still get to enjoy all the amenities and conveniences of the inner city where larger houses are very rare.
I live in one in Melbourne and it's great, you don't actually miss having a yard when there are literally 7-8 great parks & playgrounds within a 10 minute walk. Not to mention all the countless cafes, restaurants, bars, shops, public transport etc at your doorstep too. Mine wasn't anywhere near $1.6m though because inner-Melbourne is nowhere near as expensive as inner-Sydney but they're still generally all over $1m these days.
I live in Sydney and you can find homes in a very broad price range, depending on your location. Close to the CBD and close to the beach, are both the highest rates.
Yes but are there any places in the Sydney metropolitan area where there would be many houses (house and land package, not units) for under $400 000? In a sane world there should be many. The overall median Sydney metro area house and land package price should be about $500 000. In principle, there should even be a reasonable number of small homes in the Sydney metro area for under $300 000 - not many but still a few.
I am wiling to be corrected, but my gut instinct is that it would be extraordinarily rare to find a Sydney house (not a unit but a house and land package) for under $300 000. The insane house price crisis is real.
Come to think of it, I would imagine that there wouldn't be too many units in the Sydney metro area for under $300 000. It really is bad out there - in Sydney it is 'do I laugh or cry' shocking.
😂😂😂 Cloncurry 🤣🤣🤣🤣 long commute dude!
In Sydney, Greenacre & Punchbowl are considered relatively affordable. I have a dilapidated dog in Sydney that needs to be knocked down, in a not much better than average area, & just the land would sell between 2.2 & 2.7 million dollars.
That corridor you called a house in Sydney that was listed as $1.6 million sold for $2.2 million.
It has 3 bedrooms, 1 bathroom, and no parking.
Come to the Yorke peninsula houses are way cheaper for some of the most beautiful coastline in Aus. In some parts as low as 400,000. If you don’t like the beaches, the alpine region of Vic Mt Beauty, Tawonga range from about 450,000 for a doer upper to the upper end of around 900,000. Some of the most beautiful scenery in the world. Also places in Gippsland.
Cloncurry could be great! If you can farm in the desert for your own food and build your own pool for the heat which is all the time everywhere you cannot escape it or the flies
You need to check out somewhere like Hobart, Tassie or Adelaide, SA or Mackay Qld or Albany, WA or Darwin, NT. Affordable houses are out there if you look for them. Major cities like Sydney or Melbourne or even Brisbane & Perth you'll find more expensive as they have high populations & more people wanting homes.
Give it a few weeks and try again Ryan. However, the coastal areas and country regions are your best bet. Your more likely to get a much better price than the city's.
Take a look at somewhere like Tamworth NSW. Central north.
Auctions are popular especially in a hot market - because FOMO + the excitement of an auction drive the price up.
I read somdwhere recently buying at the median price in Sydney would need a salary of over $230K (I assume that's a combined household income, but you could need even more depending on your expenses - the banks take expenses into account, e.g. if you have kids you'll be paying more for food an clothes (And school etc)).
Mount Isa is the Main hub in North West QLD. Large mining town. used to have a population of 30 000. But has been slowly dropping and now approx 19k. Cloncurry around 4k. A 3 to 4 bedroom house cost you about 200k in 2004. jumped to 350 to 400k by 2008. (Chinese led mining boom driving demand) by 2013 that same house, peaks aroung 500k to 600k. Mining boom starts to drop off. The mining company now own by Glencore. which is a massive world mining empire. Mt Isa is now just a dot within that companies assests and keeps shedding mining jobs. Another 1250 jobs and the copper smelter side is closing by 2025. the Effect? That house back in 2013 valued at 500k is now 265k to 330k, at best and thats if someone wants to even buy. The mine site has been in operation for approx 100 years. (incredible story) And I was born, raised and worked in the mines. but left in 2000. as I knew it would = more wages. but less and less services as the populations drops off.
Cloncurry 😂 I mean if you want to live in the outback it could work if you don't mind living in the middle of nowhere. It's at least a 16 hour drive from the Curry to where we live, and we live rurally. Add another 3 or so hour drive from here to get to Brisbane. For people willing to work hard, working in the outback can be a good way to save up cash as you can get a nice house and decent paying jobs out there.
Eh yeah, I would not advise going north to get to a beach. 🐊
Spot on. Living remote for 4 years got me enough money buy a big house on the coast just a few hours from Adelaide
I’m in Melbournes eastern suburbs and old weatherboards are going for 1.2-1.8 million
Yes we have auctions. For the foreigners not Aussies. We can’t afford house ownership on our own country anymore.
I used to live in the “beach” you distanced from Cloncurry😂 let’s just say if you go for a swim there the cost of a house will be the least of your problems but you’ll make a croc real happy
The real estate market has exploded all around the world. My friend in the US was looking to buy a home as an investment but all the houses he viewed were double the normal value and he gave up and invested in something else instead.
Im..migration.
Homes also sell for a set price, or a price range. Auctions are mire common in the bigger cities. Rural and regional are usually a price .
As someone in lending, the vast, vast mojority are sold through typical 30 day finance contracts. however, given just how badly buyers have it right now, real estate agents are saying that 14 day or 21 day clauses are the most common and they are trying to shift hard to auctions, but its not working. the realities of buying a house are getting in the way.
i bought my home 4 years ago for 430k which now shows up at 680k (so lets say 600k since those estimates are optimistic). i could not affort to buy my own house right now despite earning 35kp.a. more than back then. ( 3bed brisbane outter suburbs) note inner city houses are sold at auction more frequently but are still the overall minority of sales.
Houses most commonly go to auction because with the market in the state it is they usually carve an extra 10-20% off of what its already worth by the simple nature of it being an auction.
Did you know that the houses in WA are starting to cost more and more since apparently people from Sydney are moving to perth for a quieter life or something while the houses in VIC and NSW are are rising slower in money
Look at Cairns or Mackay in Queensland, Bundaberg also and it has some beaches
If you're in the USA and looking for Australian housing to buy, the best thing you can do right now is stay over there, develop your career and buy when you're ready. That USD to AUD currency conversion does a lot of heavy lifting!
Auctions are very popular. Some weekends x can have over 100 properties for auction.
I love being Aussie and that thumbnail is so true
Private treaty is the most common, BUT auctions are common in higher priced/more desirable areas. Both are normal in Australia
The auction culture is a big reason why prices are so high. I think it feeds the deeply ingrained Australian gambling culture.
With $600,000 best go to WA if you want the beach. I lived in Ballarat where you can buy a house for that price. Great place to live but a long way to the beach but only 100 kms from Melbourne.
Ha, fool. With that money you'd buy 3 houses near the beach in SA.
I like your channel Ryan,.You always make me smile 😁
Cheers from Emerald, Victoria 🇦🇺
Houses are sold either by Auction or simple purchase. At 73 I’ve never purchased by auction but these days it is a growing trend especially in NSW & Victoria. I have purchased land, houses & units over my life time.
8:00 Sunbury (between Bendigo, and Melbourne in VIC). Nice area, but kinda remote.
Sunbury is a great area and still affordable ...the distance isn't far
Greenacre is south of Sydney, but Sydney is an expensive place to buy
It looks like a Terrace house
As a self funded retiree (for now at least) everything is so dear and so difficult. It is hard for families to get a foothold, but at least they can still work. What happens when U r too old to work? Before U say I had it easy, I paid 18 percent interest when I first had a mortgage! Sad though if U never get to know what it is like to own your own home. I think will be well and truly ready to go, when it happens, if it gets much worse for everyone. The world has gone to s..t!
No one had it easy, but anyway you do the math, it's way harder now than it ever has been, high interest rates or otherwise.
Auction is not the only way. I looked on line, because I live semi remote. We just sold property, bought it at the right time and then just sold it, because the landlord put the property on the market where we are. Didn't tell us what was going on, we put the othr property on the market, found a buyer immediately but it took months to negoitate. We then sold and found an acerage that we have now bought and paid cash for it. Now we are going on the affordable way of building and people are supportive of that, because we are choosing affordable housing. However that is easier said than done. It remains to be seen how far we get and how long it will take. But we give it a go, anyway.We went to a place that is aslo semi remote, isolated and closer to the coast. Its not impossible but its not easy either. And if we were to buy in our price range, the houses need an enormous amount of maitenance, a lot have abestos in it. So we are opting to build our own, no maitenance to begin with an definitely no abestos on our own acerage, so excited. The property sold here, and the owner negotiated that we were to stay in the rental they are not allowed to evict, we come with the house, they got to keep the same real estate its under and at the same rental price. It turned out, we didn't need to go into crisis mode.
Cloncurry don't think so. That is isolated remote Queensland....we live semi remote here and that can be hard at times, but easy at others. Think we will stick to this area. My son wanted to move down to Tasmania, before we bought this property.
We have 1050 square feet of land with a 4 bedroom 2 bathroom house…. 20km from Perth cbd. Our house is almost $900,000. It is just a standard home. The houses cost a lot.
We can sell by auction or standard sale where people view the house and put in offers.
I just looked in Indiana….l could buy massive houses on huge blocks of land. It’s so cheap to buy there
Most homes go to auctions and sadly non australian residents out bid aussies, then they leave and go back home to asia
Sydney in the 80's and 90's was brilliant!!...the 2000 Olympics which was its peak, its been a race to the bottom ever since.
Get out of the eastern states try Perth or suburbs and towns down to the south of WA. Jobs have to be available unless from home. Cities are not the only nest.
After stopping at Cloncurry while on our trip I can honestly say the place has a great pub with good food. We were there last year after doing the rugby league state of origin in Adelaide we then decided to go up the middle of the country to Darwin. Ryan I can honestly tell you not to swim in the beaches north of Cloncurry due to the crocs(and not the ones you wear on your feet)
Cloncurry is cheaper but really isolated and beyond hot. I have in-law family members live there, they work in one of the mines. They love it but there’s not much to do. And don’t forget it is the birth place of The Royal Flying Doctors.
Just curious where one could work when living in Cloncurry
When your housing costs are 0 and you can do as you please, grow some veggies etc, you can live like a king on Centrelink.
I downsized to a little cottage in the southern suburbs of Perth 3 years ago when I was widowed. I paid $267K cash for a little 3x1 on a 700sqm block. Today that same little cottage is worth an estimated $520K 🤷♀️ That’s the housing market for you.
Auctions are common when market is hot, then for sale properties become common when market is cooled