Australia - really?

Ah, the glorious (but brief) time that the Perth median house price exceeded Sydney. Oh how times have changed!

 

That is an interesting graph, it would be interesting to see it back a bit further, and stretched out to give more detail earlier where it's a bit bunched.

I also wonder when comparing prices whether local currency fluctuations are factored in, eg UK currency has gone from $3 to $2 since 2000.

I still can't get my head round what has happened with the Japanese market, even re the banking crisis, I know it is mountainous, relatively high population, land was at a premium. The population is shrinking, and the market was very overblown, but even so, 70% down is spectacular. Also is it worse to have that drawn out over 30 years, or are you better having a 1990 London style dump (45%) over a couple of years, done and dusted?

Obviously all these markets have there different motivations, Honk Kong and extreme example of both demographics and politics. How much in general is due to market forces, and how much due to government policy and intervention.

In Australia the government in conjunction with banking is heavily involved in influencing the market, both in tax law and directly with grants etc, and I must admit that always worries me greatly.[/QUOTE]

 

Well let's see what more the banking commission turns up! AMP boss stepping down and Westpac/CBA having a bit of trouble too lol. We could very well see the gov. and banking sector start going opposite directions in the near future.

As for Japan, one of the main reasons for property prices remaining low is that they don't have rules saying what you can or cannot build on your land. It seems if you buy an old plot with a shack on it, you can just build an apartment block on it. So long as the building is designed and built to code(has to withstand earthquakes) , you can block out your neighbours view, paint your building any color, make it look like a medieval castle, run your construction crew 6 days a week, whatever. The concept of NIMBY doesn't exist.

This has probably been contributing to endless supply of new housing thus keeping prices down. Though to note since 2013 and Abenomics stimulus, property prices have risen slowly in higher demand and population growth areas in major cities.

 

Yes it has, but your chart does not end in the present years also with the same low inflation, rates and neg population growth.

 

Hello. The garbage you post isn't intellectual. It appears your business is a bit slow as clearly you have tooo much time on your hands. If you were as wealthy and smart as you keep telling us you wouldn't need to be sooo condescending and run other people, and Australia, and its great acheivements, and booming economy down. All the real achievers I know who do have millions in property don't have the need to brag about it or build themselves up by running others down. I don't think any-one is interested in your life story. Anyway we know what happened to Lehmans, weren't managed too well.

 

It's funny how usually I find people that use the term 'intellectual conversion' aren't actually intellectual people and even worse most likely bull sh***ers. I'm not saying that about the OP as I don't know him, I'm speaking on people I know and have met personally.

Yes some people may consider it a slow and backwards country but that's actually the appeal, one thing that keeps it that way is the lack of population size and isolation. I actually enjoy a faster paced life with crowded cities and lots of things to do, that's why I live OS, each to their own.

I don't get how people can say it's safe though, physical and verbal abuse are a constant on public transport, road rage, alcohol fueled violence (hence the curfew) etc... Do you actually feel safe walking around at night? There are groups of teens that go out specifically to mug or bash. These types of things rarely if at all happens in Asian countries.

 

GC, Australia knows how to make steel, and does have steel plants. It's not economic, as it's cheaper to produce steel in Asia.

 

Baloney.

 

Are you serious? Of course it happens but it's no where near as rampant. I've never witnessed it, but have witnessed it plenty of times in person in Aus. not even going to mention the tons of videos online.

 

What Asian countries are you referring to. I agree if it is Japan or Singapore. They are much safer than Australia. But the rest such as China or other SE Asian countries are not as safe as Australia. Burglaries, pick pocketing, robberies, thefts as well as road accidents are much more common there compared to Australia.

 

Agree with you - i had a very good friend in lehman in IB - you would have already made it there if you were there more than 5+ years - you're already made your millions, unless you were doing low level work. he went on to create a company doing relocations in shanghai and then got bought out by a NASDAQ listed company and then retired. Nowadays he only travels and occasionally does some stocks. the thing is why do so much hard yards if you supposingly made it?

 

word.. i do like the faster pace and more happening cities of other countries.. still cant wrap my head around shops here closing at 6pm and nothing happens after 8pm.

but sydney issnt really that spaced out or isolated anymore.. like even if u live in kellyville now there is traffic and heaps of people around all the time..

in terms of physical abuse.. i agree. in asia very rare.. verbal abuse tho.. haha i dont think its any less..i dont know how many language you speak, but it happens.. especially hong kong haha.

in terms of bashing or mugging petty crime are massive in most asian country,australia is pretty safe at night.. i dont think crime is any more rampant in asia compared to australia.. u just got to be smart regardless where you are .. lets not even talk about america

 

yes and hieund85 echoed my thoughts including referencing Japan and Singapore.

 

I am Totally agreed with you. Australia does not only own manufacture, education and tourism also one of biggest incomes. Australia could keep improving these area since Australia is still a hot spot for whatever tourism or education.

 

I've lived in quite a few cities in China, Taiwan, Singapore, Macau and Malaysia. Personally I've never felt unsafe walking the streets at night. I didn't get the vibe I would get in many streets of Sydney. No idea what the stats are but I can only go off my gut feeling. Generally I've felt the overall consciousness of kids/teenagers in the Asian cities I've lived in was a more mellow, respectful one. I just don't get that same vibe in Sydney. I rarely catch public transport (because I love driving). The one time I needed to catch a bus a few months back from the city to Bondi at around 2200, the folks on the bus were shaking it from side to side. They would all lean on one side then quickly jump to the other side to shift their weight. The bus was actually shaking. Driver was helpless it seemed. I'm sure it's not a daily happening but it did make me wonder why I never experienced such delinquency in the Asian places I've Iived in.

 

And yet last time I was in Sydney we went out to dinner up on Military Rd at Mosman. Walked there from a couple blocks away with friends (their house) and their young son 10yrs old. Never felt like we shouldn't be doing this, in fact it was quite nice.

Damn good Thai tucker too!

However, Ive been in other parts of Syd and no way would I walk about at night.

 

Greetings and some great posts - thoughtful indeed.
2 factors are important for our future Aussie growth:
whether we are creative (innovative) and/or productive.
If Both, then is great.

Are we falling into this "lucky country charm" and wanting more for less?
Or are we creating value through innovation,

Production is happening in Asia,
And as for, the innovation we all have a know where its happening.

More for less is when your handyman contractor wants 500 dollars for 3 hours work

Will the prices of our properties continue to rise without a blip, as it has in the last 28 years?
For the next 28 years, if not 18, or even 8,
If we all believe so, it's all good, no arguments, because we are considered a 'lucky' country, so be it good.

That's the question for us...

 

Incorrect.

Australia’s “father of PV,” UNSW Scientia Professor Martin Green, has been awarded the 2018 Global Energy Prize, beating out a shortlist that included Tesla’s Elon Musk, and becoming the first Australian to win the $820,000 gong.

The University of New South Wales said on Thursday that Professor Green had been selected from 44 contenders from 14 countries by a committee of leading scientists, to share the prize with Russian scientist Sergey Alekseenko, an expert in thermal power engineering.

Green was honoured, UNSW said, for revolutionising the efficiency and cost of solar photovoltaics and making it the lowest cost option for bulk electricity supply.

And rightly so – Professor Green, who is Director of the Australian Centre for Advanced Photovoltaics at UNSW, is a world-renowned as a leading specialist in both monocrystalline and polycrystalline silicon solar cells.​

Martin Green – Australia’s “father of PV” – beats Elon Musk to Global Energy Prize

 

This is one guy. US has Silicon Valley. China’s AI research is light years ahead of Aus. Any decent software engineers don’t stay in AUS and go to the US only to come back in their 40s/50s

 

It's also just one example.