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"Home Buyers Hit for Six" - Article on Sydney property prices in 1988

Discussion in 'Property Market Economics' started by mja, 15th Aug, 2015.

  1. mja

    mja Well-Known Member

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    "Sydney's real estate boom has priced first home buyers out of the market."

    Sound familiar?
     

    Attached Files:

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  2. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    I read a similar article from the 1960s. It seems people trying to get into the market have always complained about property affordability.
     
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  3. Azazel

    Azazel Well-Known Member

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    Ha. Where did you find that, lining a drawer or something?
     
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  4. mja

    mja Well-Known Member

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    Pretty much. :) A relative brought it over.
     
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  5. Hanison

    Hanison Well-Known Member

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    image.jpg
    Post reminds me of the time woolworths were the "friendly folks"

    Found this beauty lining an old kitchen draw
     
  6. trinity168

    trinity168 Well-Known Member

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    That's pretty cool @mja and @Hanison . Are there still libraries out there with microfiche?
     
  7. monalisa

    monalisa Well-Known Member Premium Member

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  8. jins13

    jins13 Well-Known Member

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    Irresponsible journalism at its best. I am so sick of reading articles of younger people looking sad about being priced out of the area and than when you read the actual article itself, the youngsters are talking about buying a first home in the Northern beaches, Edgecliff, Dover Heights or areas silly like that. I was pretty much raised in the Northern beaches area, but couldnt afford to purchase in this area and instead of crying over split milk, I broaden my area searches where I could afford and within my budget. I didnt receive a handout from my parents (the stamp duty and FHOG really helped though) in order to make an impossible dream happen and also saved every single cent to purchase a property not the dream property.
     
    Last edited: 16th Aug, 2015
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  9. beachgurl

    beachgurl Well-Known Member

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    Stupid article. First home buyers have always had to go west for affordability. My parents got a Landcom house in outer western Sydney in 1977. You had to earn under a certain salary to qualify. Their family thought it was the end of the earth but that was all my parents could afford.
     
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  10. Bayview

    Bayview Well-Known Member

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    Beat me to it. I was about to post about "where are these folks looking to buy?"
     
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  11. jins13

    jins13 Well-Known Member

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    The funny thing is when I was youngster and naive to the world, I said to friends that if I ever live in Parramatta, than I failed in life. I actually live down the road (the hills) and wouldn't change it for the world.
     
  12. Ed Barton

    Ed Barton Well-Known Member

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    That roast pork is expensive - $59 c a kilo!

    Notice how the ad has actual food and not chips, chocs and soft drinks.
     
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  13. Hanison

    Hanison Well-Known Member

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    It's actually 59 cents per pound.

    So $1.29 per kilo in today's measure.

    Fyi - that woolworths newspaper ad is from 1968.
    I don't think it's clear at the bottom of that photo.
     
  14. Ed Barton

    Ed Barton Well-Known Member

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  15. Ed Barton

    Ed Barton Well-Known Member

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    Yes, you're right. $15kg according to RBAs inflation calculator in real terms.
     
  16. Scott No Mates

    Scott No Mates Well-Known Member

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    Where's all that foreign food in the advert? Eg pasta, rice etc
     
  17. See Change

    See Change Timing Lord Premium Member

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    We bought our first house in 88 and it went sideways for seven years ....

    Our friends bought a house in concord west a couple of years before for around 100k . They went overseas and we rented off them . A few months later the market took off and the nice next door house sold for a ridiculously overpriced 142 k ..........

    About a year later we paid 205 for a renovators special dump with an outside toilet .

    Cliff
     
  18. Bullion Baron

    Bullion Baron Well-Known Member

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    This is a pretty great site for looking up old newspaper articles (online): https://trove.nla.gov.au/newspaper
     
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  19. Biz

    Biz Well-Known Member

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    I wonder how much the happy endings at Le Meridien were back then?