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BillyShears

Prices In Australia/sydney

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Still a mixed bag. Australian property is still largely a tax rort so until the system changes, leveraged yields are not bad for marginal tax payers.

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See recent posts.

Still a mixed bag. Australian property is still largely a tax rort so until the system changes, leveraged yields are not bad for marginal tax payers.

Which according to Costello will only be 3% of taxpayers after June :) .

Shame the second top rate is still above 40% though :( .

Remember when they said bringing in a GST would allow them to reduce the top marginal rate to 40%. That would do a lot to rein in the BTL monster. (Total Australian BTL expenses are increasing about a billion $A per year faster than total rental income.)

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Recent farticle from OZ--sounds like the same person writes their spin as ours:

http://www.theadvertiser.news.com.au/commo...255E913,00.html

First-home buyers back to spending

CAROLINE ADAM

20mar06

STEADY property prices and stable interest rates are drawing first-home buyers back into the market, especially those at the younger end of the age spectrum.
First-home buyers made up 18.7 per cent of all new owner-occupier home loans in the December quarter - a four-year high - according to figures compiled by the Australian Bureau of Statistics.
Research commissioned by non-bank lender Wizard Home Loans
shows more first-home buyers now intend to buy a home over the next year, up 13 per cent to 529,000 in the December quarter.

Actually, I don't think its spin as there doesn't appear to be any truth that has been manipulated to sound like something the writer did not intend. Seems more like VI rubbish as the source indicates. Would any outpriced Oz FTB go out and buy based on market research from Wizard Home Loans? Its not "steady" prices that attract outpriced FTBs but LOWER prices :lol: .

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Which according to Costello will only be 3% of taxpayers after June :) .

Shame the second top rate is still above 40% though :( .

Remember when they said bringing in a GST would allow them to reduce the top marginal rate to 40%. That would do a lot to rein in the BTL monster. (Total Australian BTL expenses are increasing about a billion $A per year faster than total rental income.)

It's a real shame what happened to Australia between 98 and today. It was a great, cheap place to live, particularly if you liked to eat out (on any budget). No longer.

Despite the new indirect taxation, direct taxation remains ridiculous: for those paying a decent amount of marginal rate tax, transferring from Australia to London, on the same salary, you receive an effective 20% payrise.

Edited by aussieboy

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Guest Winners and Losers

http://www.smh.com.au/news/business/housin...1493544760.html

I don't know if 'aussie boy' is actually in Aussie, but things are not rosy and they have not been for some time. Most people know. The aussies are less likely to kid themselves 'no flies on me mate'. In regards to your 20% pay rise by working in 'London' - I think you can knock that on the head when you take into account the cost of living. Eating out is still cheap in Oz. Me and Mr WAL had full on seafood meal sitting on Darling Harbour (and a few times outside the Opera House with jazz band playing and sun shining) for 30 POUNDS, for both of us including drinks. Know where I'd rather be eating out. I have lived in both London (10years) and Oz and I definately had more disposable income in Oz. You have to remember that petrol in Oz costs 40p per litre, for example. I have a huge house with pool for the same mortgage that I had on my London flat. I am now living in the North of UK and earning the same amount I was in Oz, except everything is costing more. Rates (equivalent to Council Tax) on my Oz house are 300 POUNDS per year. I am paying 1000 POUNDS here. In London I could earn more, sure, but I don't want to pay 100 quid a month to travel on the tube (I walk to work now) - what about quality of life? Priceless.

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http://www.smh.com.au/news/business/housin...1493544760.html

I don't know if 'aussie boy' is actually in Aussie, but things are not rosy and they have not been for some time. Most people know. The aussies are less likely to kid themselves 'no flies on me mate'. In regards to your 20% pay rise by working in 'London' - I think you can knock that on the head when you take into account the cost of living. Eating out is still cheap in Oz. Me and Mr WAL had full on seafood meal sitting on Darling Harbour (and a few times outside the Opera House with jazz band playing and sun shining) for 30 POUNDS, for both of us including drinks. Know where I'd rather be eating out. I have lived in both London (10years) and Oz and I definately had more disposable income in Oz. You have to remember that petrol in Oz costs 40p per litre, for example. I have a huge house with pool for the same mortgage that I had on my London flat. I am now living in the North of UK and earning the same amount I was in Oz, except everything is costing more. Rates (equivalent to Council Tax) on my Oz house are 300 POUNDS per year. I am paying 1000 POUNDS here. In London I could earn more, sure, but I don't want to pay 100 quid a month to travel on the tube (I walk to work now) - what about quality of life? Priceless.

Happen not to agree - and I definitely am an occassional Australian. It changed. The three years since they introduced the goods and services tax (like VAT but it applies to food as well). Went back 4 years ago and I got a shopping trolley double filled and overflowing with groceries for 70 quid. Went back a year ago, and 70 quid filled about a 1/3rd of a trolley, no more than I would have got in London. A sandwich bought out costs about 8 dollars. Thats about 3 quid.

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I'm looking to Oz as a place to emigrate for the better lifestyle and lower costs. I'm researching it - but I'm finding that the more I read the more expensive it looks. It doesn't look like the cheap UK getaway that its supposed to be or was.

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I am a perm ozz resi but live in the UK as the wages in Oz are rubbish.

Even in the City CBD the wages are third world yet property prices are very high.

650k for a rubbish 1930's flat in Manly and the mortgage rates are 8%.

Forget it, either take a lot of money with you and retire, or dont go at all. As you will never ever earn enough to create a new life.

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Remember when they said bringing in a GST would allow them to reduce the top marginal rate to 40%. That would do a lot to rein in the BTL monster. (Total Australian BTL expenses are increasing about a billion $A per year faster than total rental income.)

Has anyone done a similar calculation for the UK (BTL exppenses vs income)?

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Happen not to agree - and I definitely am an occassional Australian. It changed. The three years since they introduced the goods and services tax (like VAT but it applies to food as well). Went back 4 years ago and I got a shopping trolley double filled and overflowing with groceries for 70 quid. Went back a year ago, and 70 quid filled about a 1/3rd of a trolley, no more than I would have got in London. A sandwich bought out costs about 8 dollars. Thats about 3 quid.

I'm not sure where you were shopping! I was just outside Sydney. I was living in Oz from 2002-2005. Weekly shop, trolley full was about $100 (£40). A huge leg of lamb is only about $15 (£6). $8 for a sandwich! Where were you Double PBay? The interest rate on my mortgage is 6.6% (not fixed, variable). 8% interest rates - have they gone up? The most a sandwich ever cost me was about $3. I'm not saying you are wrong, just saying it is not the case everywhere in Oz. You guys obviously have more money than if you are prepared to spend $8 on a sandwich. I am curious to know what kind of sandwich it was, just to be sure we are comparing like for like. As I said, I earn the same money in the UK as I did in Oz (last year) except council tax and petrol cost 3 x as much. You can't just use London & Sydney as the examples. Not everyone lives in London or Sydney.

Btw - property prices have been sliding since 2003. Not capital gain since then, and still going down.

Edited by Winners and Losers

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I am a perm ozz resi but live in the UK as the wages in Oz are rubbish.

Even in the City CBD the wages are third world yet property prices are very high.

650k for a rubbish 1930's flat in Manly and the mortgage rates are 8%.

Forget it, either take a lot of money with you and retire, or dont go at all. As you will never ever earn enough to create a new life.

That's my take on Oz too. Wages are lowish, taxes high, and property expensive. Great place to retire though.

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Happen not to agree - and I definitely am an occassional Australian. It changed. The three years since they introduced the goods and services tax (like VAT but it applies to food as well). Went back 4 years ago and I got a shopping trolley double filled and overflowing with groceries for 70 quid. Went back a year ago, and 70 quid filled about a 1/3rd of a trolley, no more than I would have got in London. A sandwich bought out costs about 8 dollars. Thats about 3 quid.

Elizabeth,

I'm with you on this one: my time is split UK / Australia, and the land down under is not the land of lotus eating it used to be: $50 prawn and Kardonnay extravaganzas even in tourist hell holes like Darling Harbour are a thing of the past. I starting drafting a response to W&L's post (which I "definately" found quite offensive) but then decided not to waste my time. The only thing I'll dredge up from my discarded draft is the point regarding land tax that is incurred by landlords. This can be significant and doesn't apply to UK properies so we need to factor this in when comparing apples with oranges.

AB

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Elizabeth,

I'm with you on this one: my time is split UK / Australia, and the land down under is not the land of lotus eating it used to be: $50 prawn and Kardonnay extravaganzas even in tourist hell holes like Darling Harbour are a thing of the past. I starting drafting a response to W&L's post (which I "definately" found quite offensive) but then decided not to waste my time. The only thing I'll dredge up from my discarded draft is the point regarding land tax that is incurred by landlords. This can be significant and doesn't apply to UK properies so we need to factor this in when comparing apples with oranges.

AB

OK, I must have been living somewhere else then. Oh no, sorry, I'm making it all up. Then again, I do apologise, there is no where else in the world worth living other than London. That's me. Done my time. Over it.

Why on earth do you split your time between Oz and the UK then???? Surely you would be better off just staying in the UK all the time?

650k for a rubbish 1930's flat in Manly and the mortgage rates are 8%.

That is why property prices are falling in Oz. Of course, UK prices are not over valued, so that won't be happening here.

I am a perm ozz resi but live in the UK as the wages in Oz are rubbish.

Oh, not a citizen then.

Edited by Winners and Losers

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OK, I must have been living somewhere else then. Oh no, sorry, I'm making it all up. Then again, I do apologise, there is no where else in the world worth living other than London. That's me. Done my time. Over it.

Why on earth do you split your time between Oz and the UK then???? Surely you would be better off just staying in the UK all the time?

Comments were more directed at the folly of taking a provincial view of what appears to be remembered fondly as a halcyon time and extrapolating that to the current situation of an entire country.

And I split my time because I want to, because I can, and because there are some considerations in life other than maximising financial return (shock).

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No not a Citizen, and its looking ever doubtfull I will spend the two years in Oz to gain it.

The attraction of Australia is fast wearing off for many people these days as the few good jobs in Australia are being offshored daily. Banking, Insurance, Finance, IT, all are going fast.

Here is the home loans link

http://www.westpac.com.au/internet/publish...HCPI+Home+Loans

And the Bank have said time and time again, rates will be going up in Australia very soon.

For sure a nice place to live, but to have to spend your savings, and work to get buy is not sustainable and like many many people who go to Oz frequently, and having lived there for five years. If you want a financial future you will not find it in Oz.

The so called Ozzie Dream, in Perth, in a New Timber Framed Corrugated roofed property (They are building thousands in Perth at present) is not my idea of a dream, in fact its a nightmare. Gardens the size of postage stamps in a country with all that land, what the hell is all that about.

Cockroaches in your Muslie is not my idea of paradise, and Darling Harbour is pants. Pontoon Bar, The Establishment,Jacksons, are all full of people smartly dressed on low wages.

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Which according to Costello will only be 3% of taxpayers after June :)

Anymore information on what this exactly about?

Gardens the size of postage stamps

Back in brisbane not that long ago and the size of the backyards is just simply astoundingly small. There are by far bigger yards in most uk existing and new build places than in australia. Basically its a case of buy a block of land, whack on a monsterousily big 2 story house that takes up 95% of the blocks space, install full aircon and hope that electricity and/or interest rates don't increase too much.

It seems that while the UK suffers much higher gas costs for heating, increasingly in australia the installation of aircon in houses is raising electricity bills to 3x the amount before, judging from speaking to friends who have installed it.

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Dont get me wrong, I love Sydney.

But to have to pay to work is just not on.

Third world wages is not a an option.

37,000 Aud is the average wage, thats £16,000. Hardly a dream.

I reckon its best to save up, and retire there.

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Dont get me wrong, I love Sydney.

But to have to pay to work is just not on.

Third world wages is not a an option.

37,000 Aud is the average wage, thats £16,000. Hardly a dream.

I reckon its best to save up, and retire there.

Average wage is over 50k

What job do you do?

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Average wage is over 50k

What job do you do?

Third world wages! Obviously Laurenjon does not have a degree!!! I was earning 65k in Oz. That is like saying that the average wage in the UK is 25k, when clearly it is not. The average wage in Australia must take into account the smaller population and the greater geographical area. I was not even living in Sydney! When I left London I was earning 28k - in LONDON. So, to earn 65k outside Sydney gave me more money and a bigger house than I had in London. Don't get me wrong, I love London, but not for the rest of my life. I got sick of the 'yellow signs' - stabbing, rape, murder on my door step. Feeling afraid to get my mobile out, hanging on to my handbag, locking the house up like fort knox, not feeling safe to go out in my own neighbourhood at night, being asked for spare change or a cigarette every 5 minutes. Yes, you too can live like this in South West London - one of the last bastians of affordability.

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Rape, Murder, Stabbing, Sounds like the Western Suburbs of Sydney to me.

Sydney is nice, but you do have to keep your witts about you. Armed Robberies in Nuetral Bay where I lived were so frequent it was amazing.

Armed Security officers in shopping malls................is that safe paying minimum wage and handing out firearms.

The average wage in NSW is $901 per week for union members compared to $779 for non union members (Workforce, March 2005).

http://www.uts.edu.au/new/releases/2002/Se.../f_section5.pdf

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Rape, Murder, Stabbing, Sounds like the Western Suburbs of Sydney to me.

Sydney is nice, but you do have to keep your witts about you. Armed Robberies in Nuetral Bay where I lived were so frequent it was amazing.

Armed Security officers in shopping malls................is that safe paying minimum wage and handing out firearms.

The average wage in NSW is $901 per week for union members compared to $779 for non union members (Workforce, March 2005).

http://www.uts.edu.au/new/releases/2002/Se.../f_section5.pdf

Neutral Bay - say no more. I grew up on the Northern Beaches of Sydney. Property was dirt cheap. My Dad was a taxi driver and my Mum worked in Nursing Homes and they could afford to buy a house. Hmmm, sounding a bit like the UK doesnt it? Sydney is nice but you have to keep your wits about you? Are you kidding - lol. There is no-one there after 9pm, its like a god damn ghost town compared to London. Yeah, Western Suburbs (uh, who goes there?)! Good that it is contained to the Westies though, in London you get it everywhere.

$900 = 375 pounds. Not a bad weekly wage if you ask me. It costs nothing to go to the beach! :)

Gimme a break! Armed robberies a frequent occurence in Neutral Bay! To those of you who have not lived in Oz, the smallest crime gets featured on the evening news. Imagine if they had to do that in London. MY GOD, when I lived in Brixton I was burgaled, spat at, pushed over in the street, constantly harassed by crack addicts and prostitutes, regularly witnessed police vans turning up and jumping out with battering rams to do raids, several times my road was closed off by police (but I never heard why), once I got off the bus turned the corner and up pops a bobby with a f*ckin flat jacket holding a M16. I just carried on home.

Armed robberies in Neutral Bay are tame and lame by comparison. I'd like to see comparable crime figures. Btw, I was not living in Sydney. My salary was $3600 with a nice 9% paid by my employer into my pension. Laurenjon, with all due respect, you were just another whingeing pom in Oz - best thing you stay at home petal. ;)

Funny story for you though - when I first went home people were telling me that Manly was 'dangerous' - oooohhhh, I was scared. So, off I took myself down to Manly on a Thursday night. I felt like the ONLY person there - that was scary! Then, on night out with mad family, a few too many drinks in Manly, aunties getting a bit out of control (bars are very strict in Oz about serving people who have had too much - they won't serve you). Anyway, one thing leads to another, police are called, cousin calls police 'pigs' (bad move), next things its 'Cops' style police arriving - like 20 of them! and they end up arresting a bunch of 50 year old drunk and disorderly women!!!! I don't know, can't have been too many armed robberies going on around Neutral Bay that night. They were obviously very busy with all that 'serious' crime.

Edited by Winners and Losers

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Spent a bit of time in australia, drove accross and stayed in perth, melbourne and sydney. It was sunny, loads of beer, nice food......... um um....thats it.

Went there to study a course as it was cheaper. Now i know why it was cheaper.

Australia is boring on a day to day living basis. The shops were like something out of the 70s and people outside the city were very backward. Beaches.... we stopped along the way to chill out. Thing is, you couldn't. TOO MANY FLIES and NO resturants on the shore. Amazing. Bondai beach was the tackiest thing i ever did see, it was like Blackpool promenade.

Its in the middle of nowhere OZ and there are loads of places more exotic, cheaper, unique and less american.

Easy going place with great birds :o) but not enough too live there.

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Spent a bit of time in australia, drove accross and stayed in perth, melbourne and sydney. It was sunny, loads of beer, nice food......... um um....thats it.

Went there to study a course as it was cheaper. Now i know why it was cheaper.

Australia is boring on a day to day living basis. The shops were like something out of the 70s and people outside the city were very backward. Beaches.... we stopped along the way to chill out. Thing is, you couldn't. TOO MANY FLIES and NO resturants on the shore. Amazing. Bondai beach was the tackiest thing i ever did see, it was like Blackpool promenade.

Its in the middle of nowhere OZ and there are loads of places more exotic, cheaper, unique and less american.

Easy going place with great birds :o) but not enough too live there.

Agree, agree, agree - not much in between cities, but what were you expecting, a big UK? Maybe people don't want 'restaurants on the shore'. It aint Spain sweetheart! Who made Bondi tacky, I wonder? Yes, it is becoming the United States of Australia, which is a great shame.

Nice though that you were prepared to use the country for cheaper studying - maybe you should have gone somewhere more exotic, cheaper, uniquer and less american - oh, like the UK! Or perhaps India??

Edited by Winners and Losers

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • up 5%



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