Can you believe Sydney Housing cost nearly worst in world? - GoFuckYourself.com

Firehorse · 01-23-2007, 07:14 AM

HOUSING affordability in Australia is among the worst in the world, a further sign that many state and local government polices are inappropriate, the Residential Development Council said.

It said today's release of the Annual Demographia survey rated every Australian city as "seriously" or "severely" unaffordable in a global study of 159 cities, with Sydney, Melbourne, Perth and Hobart among the worst 25 cities.

The Residential Development Council, the residential policy arm of the Property Council of Australia, said Australia's poor result was proof that the current policy mix was a toxic cocktail for housing affordability.

"We have four of our cities in the worst 25 when it comes to affordability ? surely the message must get through?" said RDC Executive Director Ross Elliott.

The Demographia Survey, released by the US-based Wendell Cox Consultancy, attributes restrictive land release policies and excessive regulatory and zoning controls, combined with high housing taxes, for the Australian problem.

The least affordable Australian city is Sydney ? where median prices are 8.5 times median incomes ? even worse than London at 8.3 times incomes and New York at 7.2 times incomes.

Full Story

v4 media · 01-23-2007, 07:27 AM

London and NY median incomes are skewed by the 300k bankers in both cities earning megabucks.
London's fucking horrendous 1/2 million dollars for a 1 bed flat not even central.

It's happening everywhere though Spain's property prices have doubled in 4 years, leaving alot of people unable to buy.

Klen · 01-23-2007, 07:31 AM

Well thatways is best to build clean land and build houses on it.Atleast that i would do when i will have money beacuse on house cost 200000 euro and it would take ages to earn somuch money.

Elixir · 01-23-2007, 07:31 AM

Cool Full Story

DaddyHalbucks · 01-23-2007, 08:05 AM

It's the high price of success.

Rhesus · 01-23-2007, 08:47 AM

Heh, Australia's still pretty cheap compared to other countries. What v4 says is true.

Choppa · 01-23-2007, 08:57 AM

even the hookers in sydney are expensive

Enema · 01-23-2007, 09:28 AM

My parents just sold their 30 year old, 4 bedroom home, 45 minutes drive from the middle of Brisbane for a cool half mil.

Australian property is insane atm! expecting a bit of retracement soon!

Mr. Romance · 01-23-2007, 09:31 AM

Wow...I never realized this about Sydney

Mr. Romance

Firehorse · 01-23-2007, 09:44 AM

I have seen 1 and 2 bedroom flats sell in the suburbs for around 1 million in Sydney!

Firehorse · 01-23-2007, 09:48 AM

If you look at Sydney's Eastern suburbs where properties go for in exess of $10 million, a 1 bedroom flat could set you back close to a million!

Firehorse · 01-23-2007, 09:52 AM

Russell Crowe paid $14 million for a Penthouse in Woollomoolloo not far from Kings Cross, Sydney

strobi · 01-23-2007, 09:58 AM

Quote:

Originally Posted by Firehorse

If you look at Sydney's Eastern suburbs where properties go for in exess of $10 million, a 1 bedroom flat could set you back close to a million!

Holy shit! 1 million for a 1 bedroom apartment!

Is renting there also equally expensive?

Brad · 01-23-2007, 10:11 AM

that's crazy! who can afford those prices? I was thinking how crazy it is to see million dollar price tags for condos and houses all over the place these days in Toronto. Since when is a million plus the new standard for a nice place in a good area? To walk down a street and see a sign advertising a million for a condo seems absurd to me.

Firehorse · 01-23-2007, 10:14 AM

Quote:

Originally Posted by strobi

Holy shit! 1 million for a 1 bedroom apartment!

Is renting there also equally expensive?

There is a massive shortage of rental properies that has led to rental auctions ..... with the rental property going to the highest bidder!

bvds · 01-23-2007, 07:14 PM

yeah I only see it getting worse!

reynold · 01-24-2007, 12:55 AM

That is simply called a very high standard of living.

Bladewire · 01-24-2007, 01:03 AM

This is why I like living on the Gold Coast

Sydney is fucked.. never liked it there anyway.

Bladewire · 01-24-2007, 01:04 AM

Quote:

Originally Posted by reynold

That is simply called a very high standard of living.

High standard? Sydney? You've got to be joking. A bunch of pompus pricks from the outback thinking they're the shit for living in a big city. No thanks

RawAlex · 01-24-2007, 01:11 AM

I looked at some prices for purchase and rental in Sydney, and I found that the rental market seemed to be fairly low when compared to the sale cost of similar units.

mastgul · 01-24-2007, 04:15 AM

sydney is obscene when it comes to buying but perth is worse now. best place to live is melbourne i bough my 1 b/r unit last yr for 161,000 $ and 12 ks from the city in sydney it would have cost me upwards $300,000

Firehorse · 01-24-2007, 05:19 AM

There's still bargains to be found but they are very scarce.

I've lived in every state in Australia and they all have something unique, that's why I like to experience them all .... Sydney will provide the excitment for a year or 2. I might go back to Surfers Paradise next.

fangtastic · 01-24-2007, 10:38 AM

I agree firehorse Surfers Paradise is fun .... a real party town!

rowan · 01-24-2007, 10:53 AM

Inside Melbourne's Central Business District there exists a little 3 room cottage. I don't mean 3 bedrooms, I am talking about literally THREE ROOMS. There used to be about 6 of them in a row before all but one were demolished to build an ugly skyscraper. The entire area used to be residential housing until the 1960s.

The dimensions of the land? 7 x 7.5m. A mere 52 square metres, which includes the back yard and an outdoor toilet.

This tiny parcel of CBD land has its own title. I wonder how much it's worth these days?

The funny thing is that the house was probably only "small" when it was built. Solution? Let's ditch our open living, sitting rooms, garages, laundries... and go back to 3 room houses.

wyldworx · 01-24-2007, 11:02 AM

Sydney's pricing is rediculous to say the least, I was working in real estate when we experienced the housing crash in 03-04, and just b4 the crash, housing was so unaffordable, a correction was immenent. Stamp duty and capital gains tax was at an all time high, and is still on the up. Sydneys western suburbs or the hills district is where the highest increases were experienced due to Parramatta becoming the next big Urban sprawl. Check out anything around Silverwater and Ryde, as in my oppinion, they will be the best value for money and an overall good investment.

01-23-2007, 07:14 AM	#1
Firehorse Desire it and have it!!! Join Date: Apr 2002 Location: www.fuckwithfire.com ICQ 512915 Posts: 30,767	Can you believe Sydney Housing cost nearly worst in world? HOUSING affordability in Australia is among the worst in the world, a further sign that many state and local government polices are inappropriate, the Residential Development Council said. It said today's release of the Annual Demographia survey rated every Australian city as "seriously" or "severely" unaffordable in a global study of 159 cities, with Sydney, Melbourne, Perth and Hobart among the worst 25 cities. The Residential Development Council, the residential policy arm of the Property Council of Australia, said Australia's poor result was proof that the current policy mix was a toxic cocktail for housing affordability. "We have four of our cities in the worst 25 when it comes to affordability ? surely the message must get through?" said RDC Executive Director Ross Elliott. The Demographia Survey, released by the US-based Wendell Cox Consultancy, attributes restrictive land release policies and excessive regulatory and zoning controls, combined with high housing taxes, for the Australian problem. The least affordable Australian city is Sydney ? where median prices are 8.5 times median incomes ? even worse than London at 8.3 times incomes and New York at 7.2 times incomes. Full Story __________________ MySweetEbony

01-23-2007, 07:31 AM	#4
Elixir CHECK MY SIG-AMAZING SITE Join Date: May 2006 Location: ICQ: 210-874-419 Posts: 12,870	Cool Full Story __________________ SIG FOR SALE ICQ 210874419

01-23-2007, 08:05 AM	#5
DaddyHalbucks A freakin' legend! Industry Role: Join Date: Feb 2004 Location: Las Vegas, Nevada USA Posts: 18,975	It's the high price of success. __________________ Boner Money

01-23-2007, 08:57 AM	#7
Choppa Confirmed User Join Date: Mar 2006 Location: Webmasters send sexyads.com your dating traffic and live the webmaster dream!! sexyads.com = $$$$$$$$$$ Sexyads adult personals at their greatest since 1997 Earn $$$$$$ today and become one of the thousands of Sexyads Affiliates Posts: 4,079	even the hookers in sydney are expensive __________________ SexyAds: 10 years in business and still going strong. Become an affiliate today! Choppas ICQ: 283 090 747 Want to know more? [email protected]

01-23-2007, 09:28 AM	#8
Enema Confirmed User Join Date: May 2004 Location: Australia Posts: 599	My parents just sold their 30 year old, 4 bedroom home, 45 minutes drive from the middle of Brisbane for a cool half mil. Australian property is insane atm! expecting a bit of retracement soon! __________________

01-23-2007, 07:27 AM	#2
v4 media Confirmed User Industry Role: Join Date: Feb 2005 Location: Spain Posts: 2,934	London and NY median incomes are skewed by the 300k bankers in both cities earning megabucks. London's fucking horrendous 1/2 million dollars for a 1 bed flat not even central. It's happening everywhere though Spain's property prices have doubled in 4 years, leaving alot of people unable to buy.

01-23-2007, 07:31 AM	#3
Klen Industry Role: Join Date: Aug 2006 Location: Little Vienna Posts: 32,235	Well thatways is best to build clean land and build houses on it.Atleast that i would do when i will have money beacuse on house cost 200000 euro and it would take ages to earn somuch money.

01-23-2007, 08:47 AM	#6
Rhesus Confirmed User Join Date: Aug 2004 Posts: 2,009	Heh, Australia's still pretty cheap compared to other countries. What v4 says is true.

01-23-2007, 09:31 AM	#9
Mr. Romance The Face of Romance and the Symbol of Freedom Join Date: Mar 2005 Location: The America's Posts: 7,821	Wow...I never realized this about Sydney Mr. Romance __________________ Free Leads Program now paying up to $6 Gerard-Director of Global Sales Sign up Here: CamStarCash Check out: FreeCamStars ICQ: 330 662 299 gerard at freecamstars . com

01-23-2007, 09:44 AM	#10
Firehorse Desire it and have it!!! Join Date: Apr 2002 Location: www.fuckwithfire.com ICQ 512915 Posts: 30,767	I have seen 1 and 2 bedroom flats sell in the suburbs for around 1 million in Sydney! __________________ MySweetEbony

01-23-2007, 09:48 AM	#11
Firehorse Desire it and have it!!! Join Date: Apr 2002 Location: www.fuckwithfire.com ICQ 512915 Posts: 30,767	If you look at Sydney's Eastern suburbs where properties go for in exess of $10 million, a 1 bedroom flat could set you back close to a million! __________________ MySweetEbony

01-23-2007, 09:52 AM	#12
Firehorse Desire it and have it!!! Join Date: Apr 2002 Location: www.fuckwithfire.com ICQ 512915 Posts: 30,767	Russell Crowe paid $14 million for a Penthouse in Woollomoolloo not far from Kings Cross, Sydney __________________ MySweetEbony

01-23-2007, 10:11 AM	#14
Brad Confirmed User Industry Role: Join Date: Jan 2007 Location: Toronto Posts: 2,510	that's crazy! who can afford those prices? I was thinking how crazy it is to see million dollar price tags for condos and houses all over the place these days in Toronto. Since when is a million plus the new standard for a nice place in a good area? To walk down a street and see a sign advertising a million for a condo seems absurd to me. __________________ Affiliate Manager/Media Buyer ICQ 376 978 529 Skype: bradleyjwscott [email protected]

01-23-2007, 07:14 PM	#16
bvds www.fuckingeverywhere.com Join Date: Feb 2004 Location: Sydney Posts: 25,085	yeah I only see it getting worse! __________________ Sex is the question, yes is always the answer .... fucking everywhere you go!

01-24-2007, 12:55 AM	#17
reynold Too lazy to set a custom title Join Date: Oct 2002 Location: Global Traveler Posts: 51,271	That is simply called a very high standard of living.

01-24-2007, 01:03 AM	#18
Bladewire StraightBro Industry Role: Join Date: Aug 2003 Location: Monarch Beach, CA USA Posts: 56,229	This is why I like living on the Gold Coast Sydney is fucked.. never liked it there anyway.

01-24-2007, 01:11 AM	#20
RawAlex So Fucking Banned Join Date: Oct 2003 Location: In a house. Posts: 9,465	I looked at some prices for purchase and rental in Sydney, and I found that the rental market seemed to be fairly low when compared to the sale cost of similar units.

01-24-2007, 04:15 AM	#21
mastgul Confirmed User Join Date: Nov 2005 Posts: 117	sydney is obscene when it comes to buying but perth is worse now. best place to live is melbourne i bough my 1 b/r unit last yr for 161,000 $ and 12 ks from the city in sydney it would have cost me upwards $300,000

01-24-2007, 05:19 AM	#22
Firehorse Desire it and have it!!! Join Date: Apr 2002 Location: www.fuckwithfire.com ICQ 512915 Posts: 30,767	There's still bargains to be found but they are very scarce. I've lived in every state in Australia and they all have something unique, that's why I like to experience them all .... Sydney will provide the excitment for a year or 2. I might go back to Surfers Paradise next. __________________ MySweetEbony

01-24-2007, 10:38 AM	#23
fangtastic fangtastic.net Join Date: Oct 2006 Location: www.fangtastic.net Posts: 20,639	I agree firehorse Surfers Paradise is fun .... a real party town! __________________ ICQ 195 489 It's Fangtastic Prepare To Be Bitten

01-24-2007, 10:53 AM	#24
rowan Too lazy to set a custom title Join Date: Mar 2002 Location: Australia Posts: 17,393	Inside Melbourne's Central Business District there exists a little 3 room cottage. I don't mean 3 bedrooms, I am talking about literally THREE ROOMS. There used to be about 6 of them in a row before all but one were demolished to build an ugly skyscraper. The entire area used to be residential housing until the 1960s. The dimensions of the land? 7 x 7.5m. A mere 52 square metres, which includes the back yard and an outdoor toilet. This tiny parcel of CBD land has its own title. I wonder how much it's worth these days? The funny thing is that the house was probably only "small" when it was built. Solution? Let's ditch our open living, sitting rooms, garages, laundries... and go back to 3 room houses.

01-24-2007, 11:02 AM	#25
wyldworx So Fucking Banned Join Date: Dec 2006 Location: oz-trailer Posts: 5,144	Sydney's pricing is rediculous to say the least, I was working in real estate when we experienced the housing crash in 03-04, and just b4 the crash, housing was so unaffordable, a correction was immenent. Stamp duty and capital gains tax was at an all time high, and is still on the up. Sydneys western suburbs or the hills district is where the highest increases were experienced due to Parramatta becoming the next big Urban sprawl. Check out anything around Silverwater and Ryde, as in my oppinion, they will be the best value for money and an overall good investment.