Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I'm shocked to see the prices on homes in Australia, esp Brisbane ($500-$800K seems the "norm"). Sydney has NOTHING on realtor.com under 200 grand, not even a shack. Are Australians super wealthy, and if so how and why? What does a "middle class" person earn there?
I'm shocked to see the prices on homes in Australia, esp Brisbane ($500-$800K seems the "norm"). Sydney has NOTHING on realtor.com under 200 grand, not even a shack. Are Australians super wealthy, and if so how and why? What does a "middle class" person earn there?
This topic has been done to death in previous threads, but never gets tired.
Simple - Australia is a bubble that is cocooned from the rest of the world.
Average income is just over $70K, but middle class would earn more than that.
This topic has been done to death in previous threads, but never gets tired.
Simple - Australia is a bubble that is cocooned from the rest of the world.
Average income is just over $70K, but middle class would earn more than that.
Sorry about it being done to death. I'm new on the Australian forum. My son just spent a year in New Zealand and loved it and I got curious about COL in both countries. Are middle-classers (on their income alone) able to get mortgages with these kinds of home prices? What are property taxes like in general?
I'm shocked to see the prices on homes in Australia, esp Brisbane ($500-$800K seems the "norm"). Sydney has NOTHING on realtor.com under 200 grand, not even a shack. Are Australians super wealthy, and if so how and why? What does a "middle class" person earn there?
$500-$800k would get you a free standing house in some of the better parts of Brisbane, most young people have to start off with an apartment these days. Like this one that is less than 5km from Central Brisbane, is at a far more manageable price for someone on an average income.
Sorry about it being done to death. I'm new on the Australian forum. My son just spent a year in New Zealand and loved it and I got curious about COL in both countries. Are middle-classers (on their income alone) able to get mortgages with these kinds of home prices? What are property taxes like in general?
Property taxes depend a lot on where you live and the size of your property, I certainly don't find mine over bearing or excessive.
Still I have no idea how your average Joe can afford a house in Sydney these days.
Are middle-classers (on their income alone) able to get mortgages with these kinds of home prices? What are property taxes like in general?
Property taxes are also relatively low. As an example, I live in a house, in Sydney, that would be worth roughly $1.5m and my property taxes (we call them rates) are $1,400/year.
Still I have no idea how your average Joe can afford a house in Sydney these days.
I think that's because the average Joe, statistically, doesn't live in Sydney. Even in somewhere like Sutherland Shire, which would be considered solidly middle class, the median household income is $105k. But Sydney is a huge place and the majority of its residents live in the west, whereas the shock horror house price headlines are always about somewhere in inner Sydney selling for excessive prices. House prices are high though, no doubt about that.
Minimum hourly wage in Australia is apparently in the neighborhood of $15 bucks an hour compared to American's $6.75 an hour. There you go. On top of that, I believe they made it possible for every low wage earner to retire and supposedly get a minimum of $32k a year and that is just a recent development. I also noticed on real estate for sale in Australia in pictures tend to have NO carpet! If there's carpeting..you can bet it's really a bad neighborhood. I wonder if carpeting harbors poisonous spiders and so forth....just a guess on my part.
I also noticed on real estate for sale in Australia in pictures tend to have NO carpet! If there's carpeting..you can bet it's really a bad neighborhood. I wonder if carpeting harbors poisonous spiders and so forth....just a guess on my part.
Most people today opt for hard flooring: tiles or wood flooring. It looks good, doesn't wear as much and is low maintenance. In places like the NT you rarely see carpet, it just doesn't suit the climate.
A lot of families in Australia are forced to have both wife and husband working to repay their mortgage. The average household survives with two $30k - $40k jobs. A lot of people, especially the younger generation are only on part time jobs and are lucky to be earning $25k a year. The unemployment issue is hidden very well, with concentrations in areas around Bankstown.
Relatively skilled workers can earn $45k a year, but it doesn't really rise that fast from there onwards unless you are really good at what you do. However, if you add in the interest earned from savings, then the average income for older workers can be pulled much higher even though the actual employment income is relatively steady.
I bought a small one bedroom apartment in Parramatta recently for $300k. This is quite far away from the city center, but I'm not sure how much bullish/bubblish activity is left in the market. It is mostly as a future investment for my children, as I don't know if they will be able to afford a house without a 50 year mortgage.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
