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Old 22-09-2017, 12:22 AM   #299
Iggle Piggle
FF.Com.Au Hardcore
 
Join Date: Nov 2011
Posts: 1,547
Default Re: Australia housing bubble

Does vary from city to city and state though - Sydney sounds pretty mental, with Melbourne not too far behind.

Guy I work with moved here to Adelaide 3 years ago from NSW. He earns less here for the same work, and some things do cost a bit more (electricity etc), but reckons he has a better quality of life as he can afford a much nicer house in a nice area not far from CBD...earns less yet can afford nicer house and have more disposable income and about 2 extra hours back in his day as his commute is easily one hour less each way. Obvious trade off is he is not getting anywhere near the same rate of capital growth, but he reckons the lack of mortgage/financial stress and added time with family is well worth it, and if he really wanted he could be investing more of his extra disposable income (instead they take more or "better" family holidays, he is building a track car, and they sink more into paying down the mortgage quicker for security).

Guess it is similar to buy in the suburb you can afford, but he is buying in the city he can afford.

Does also help that she is from here and her family are all located here.
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