house prices

[Guest nicandchris]

Hi all,

we are in the process of getting our visa's to start our new lives over there. It looks like thousands of brits are doing the same thing. my questions are, how do the auzzies feel about this intrusion and does the influx of brits drive the prices of housing up?

the last thing we want to do is jump out of the frying pan into the pot.

cheers

chris

[Guest kangomik]

The aussies love it, they get loads more for their houses than what they expected!

 

Adelaide is very multi-cultural so people are used to different accents. Quite a few young people move out of Adelaide so their is a skills shortage gap, so i guess people are happy that gap is filled. There's work here, you may have to lower your standards at the beginning, but there's work.

 

House prices just go higher and higher, with an interest rate to boot. Have a look on real estate .com see what house price figures look like. You don't want to be more than 50k's out side Adelaide when searching, I used to look with the figure in mind, saw some wonderfull property with acerage etc etc, i just did not know how far away tiddy widdy beach and Tumby bay where LOL. Have another look 6 months later:goofy: It's not just the poms that drive the prices up, theres a lot of Asian and african people comming too. Those on lower paid jobs create a demand for cheaper housing forcing those prices up creating a domino effect in the ladder.

 

Theres a good thread on here at the moment about cost's when building new. The house can seem cheap, untill you throw the extra's in and finish it all off.

 

I don't know what it's like in the UK at the moment, but it would be more like jumping out of a freezer and into a fire LOL:biglaugh:

 

It's a hard slog to move and get settled, but if your one of the lucky ones you may just love the place. But be warned, it's full of poms

[xzibit]

The ozzies love it. It's like their well behaved, non convicted cousins all coming to visit.

 

I don't think that it's due to british immigrants pushing up the house prices, it's more the asian population as they have far more money.

House prices have been steadily rising for years now, how much longer can they keep rising? Until the demand slows or until people realise they are paying over the odds (and that won't happen). That said though, I have always thought that Aussie homes are quite good value for money due to the size of them. Much better than the boxes built in the UK. It's just a shame that they're not built very well, but that's changing as the government have realised that they need to be far more efficient.

[Tamara (Homes Down Under)]

There are plenty of articles concerning the Australian housing bubble. Apparently it's the highest priced property (relative to income) in the world.

Having said that...there are other reports that property will increase in value by 30% in Adelaide in the next 3 years!

It all comes down to supply and demand. They are just not building enough homes.

Adelaide property prices will be influenced by the mining boom (Olympic mine) and the increasing population.

 

The locals are a friendly lot and their opinion of Brits surprsingly positive! In some suburbs like Christies Beach, 25% of the residents were born in the UK!

 

Tamara

[Guest timstoolbox]

As an Aussie born and raised, i welcome all Poms with your beautiful accents and amusing expressions. We hosted a party recently and realised that all of our friends in attendance were first generation in Oz from the UK, either one of each couple or both. We hadn't noticed until then :-)

 

As for house prices, they have been rising for a long time but it's much better here as in Sydney (convict county) or Melbourne for lifestyle & $. And we are the only state not currently in flood which is a bonus. It seems the banks will be the ones making a difference with house prices, after the GFC they have changed the criteria so you basically need 2 incomes or a really decent deposit to service a half decent home, compared to 2-3 years ago when we bought our house when I was working part time/self employed. While this may only effect certain segments of the market, it is a fundamental shift which needs to be considered for the cashflow poor.

 

I can't compare to UK though, some friends of ours sold their house there after a lot of time & effort and scored a really good exchange rate which set them up nicely. I expect things are a lot different now so do your math and research well, and at any time PM me or email me at tims_tool_box@yahoo.com.au if I can be of any assistance with same.

 

Keep on coming folks!

[Guest nicandchris]

Hi nic here thanks for the replies to chris's post (who now feels positive about the move- prob the devestating state of the country now here in the uk frightening). I think that house prices are the main concern. we watched the tv on friday with the 'houses down under' i think it was called. The family had a budget of £300,000 and some of the houses that they looked at within their budget we wouldnt want we thought weve got no chance!

However we are looking for a house more in land in the southern part more 'the hills' as we have dogs so hopefully our budget would allow for a bigger house. Were obviously going to get a morgage but have a decent sized down payment- and i have a job lined up for about $57,000 a year or a little bit more so ill have another look at the estate agents again.

One thing that is repeated is that the life is better for our son whose 11 months now as im really concerned about a decent future for him in the UK.

 

ok advice keep coming please! On the getting the visa stage now and we have to put the house on the market yet so who knows!

 

nic

[Guest nicandchris]

timstoolbox do you allow dogs?

As an Aussie born and raised, i welcome all Poms with your beautiful accents and amusing expressions. We hosted a party recently and realised that all of our friends in attendance were first generation in Oz from the UK, either one of each couple or both. We hadn't noticed until then :-)

 

As for house prices, they have been rising for a long time but it's much better here as in Sydney (convict county) or Melbourne for lifestyle & $. And we are the only state not currently in flood which is a bonus. It seems the banks will be the ones making a difference with house prices, after the GFC they have changed the criteria so you basically need 2 incomes or a really decent deposit to service a half decent home, compared to 2-3 years ago when we bought our house when I was working part time/self employed. While this may only effect certain segments of the market, it is a fundamental shift which needs to be considered for the cashflow poor.

 

I can't compare to UK though, some friends of ours sold their house there after a lot of time & effort and scored a really good exchange rate which set them up nicely. I expect things are a lot different now so do your math and research well, and at any time PM me or email me at tims_tool_box@yahoo.com.au if I can be of any assistance with same.

 

Keep on coming folks!

[Guest kerfumph]

Hi nic here thanks for the replies to chris's post (who now feels positive about the move- prob the devestating state of the country now here in the uk frightening). I think that house prices are the main concern. we watched the tv on friday with the 'houses down under' i think it was called. The family had a budget of £300,000 and some of the houses that they looked at within their budget we wouldnt want we thought weve got no chance!

However we are looking for a house more in land in the southern part more 'the hills' as we have dogs so hopefully our budget would allow for a bigger house. Were obviously going to get a morgage but have a decent sized down payment- and i have a job lined up for about $57,000 a year or a little bit more so ill have another look at the estate agents again.

One thing that is repeated is that the life is better for our son whose 11 months now as im really concerned about a decent future for him in the UK.

 

ok advice keep coming please! On the getting the visa stage now and we have to put the house on the market yet so who knows!

 

nic

 

 

You and hubby working, thats a 500k motgage you could get and a good deposit, house prices won't be a worry too you.

Remove the 'must be near the beach' waffle and move into the hills and you can get acres for 600k. (they don't show you that on the telly!)

[Leyland CJ]

Before I get flamed - not to be taken the wrong way, but I would be a bit 'low key' (as in, don't do what the TV show does) with how much you are bringing over or just what you have.

 

Some Aussies can take it the wrong way if they think people are 'big noting' themselves with how much they've got or how much they bring over, or how much they paid for their house with their overseas loot. When the exchange rates drop, it becomes more marked.

 

Remember also that some migrants (yes, including UK ones) are not quite as lucky as having assets, cars or houses etc. that they sold overseas and instead, they had to work up from having nothing and being at the bottom to achieve 'the Great Australian Dream'...hence, some others can take it the wrong way when people 'complain' about having to sell a house or a car before they come here "and we only got this much for it...". They also (unlike the TV show) did not have the luxury of doing a 'reccy' before coming over and seeing if they liked it.

 

(I have some African / Vietnamese friends in that regard who basically came here as refugees, with the clothes they stood in)

 

I would personally say that a fair bit of heat was taken out of the lower end of the Adelaide market (with the wind up of First Home Buyers (aka Vendors) Grant) last year and that top end property did come off a bit during the GFC...but what do I know ?

 

The thing that you WILL get smacked on is stamp duty in SA, so remember to allow for that, even if you are a 'first homebuyer' (in the Australian context) - yes, regardless of whether you have had a house in the UK or not.

[Guest nicandchris]

Thanks for the reply. Haha i think that its amusing to think of us bragging or such like over what we'd be bringing over from the UK. Here its taken us some time to build up what we have in the UK and whilst what we have now is nice, to be honest we are looking forward to eventually being able to get a larger house thats not sitting in the pockets of the neighbours. In the UK we might not be refugees but having to build up what to what youve got from nothing isnt far from the truth and keeping it now in the UK is getting harder.

 

Looking forward to blending in with the aussies to be honest!

[Anne B]

Read this to see how unaffordable Australian houses are. With the exchange rate poor, the days of 'cashed up' Brits are over.

 

Detailed Report: The 2011 Demographia Housing Affordability Survey | macrobusiness.com.au

[Guest Guest5035]

Adelaide home price median rises to $382,000 | Adelaide Now

 

stevo