Melbourne population overtaking Sydney imminently

Its not a good thing but it is an ongoing reality. The govt/rba will push this as far as they can so got to invest accordingly. But the risk seems higher than ever in melb and sydney. Brisbane/Perth seem a lot more sensible.

 

Brissie and Melb coming from a low base, also rents are rising. Not sure this is happening in Melb or Syd, red flags here??

 

Your hanging out in the wrong places then. 1 month chillin with me and your opinion may change

 

Yes we love Tokyo. Next time we’d do Osaka

 

Ain't so. They haven't moved much in many years. And this boom is not investor debt driven. Most spending the money to buy, have money.

I don't see any widespread crashes. Not even close.

 

Surely you can’t compare Melbournes CBD to Sydney’s? Sydney has the worst CBD in Australia. Absolute hole of a place!

Melbournes CBD is the best in Oz by a mile if you actually want to Enjoy some culture.
Cool lane way cafes and bars, awesome bars on the yarra as you sit under a nice heater before walking to the home of sport to watch a game of footy with 100,000 in attendance..

 

Not Tokyo, not Osaka. You haven’t been to Japan if you haven’t visited Kyoto during Sakura blooming season which has just passed.

 

Yes... and freezing. Like swimming in eski water.

 

Some of the best beaches in Australia is on the qld coast.

 

Mate - please don’t try and convince an Englishman that Melbourne is “cool” and known for “footy” please. It really is insulting to both culture and sport.

 

Then you have not visited Perth lately. CBD is a shocker, politicians/planners etc need to be shot, its a ghost town.

 

Oh yeah I totally see that. So much of the country's economy is dependent on the property markets - from the major banks lending to residential customers (as the downfall of retail/small businesses due to Covid have cut bank profits from that tranche), the super funds heavily invested in bank shares, so banks have to do well for the aging population to have a nest egg from which they've built up over the decades to retire on; to everyone on these forums relying on properties as a source of income or cashflow to service their debts/lifestyles - present company included.

 

OK, I'll play. Why pattoman's comment about high prices being bad might be true:

1. Intergenerational inequality. Younger people have to pay far more relative to income to purchase a property than their parents did, with many being squeezed out of the market. (I believe that home ownership rates have fallen sharply for those below 60 since 2000.)
2. There is a focus on property investment rather than growing a business as the way to build wealth, and the banks provide less lending to enterprises as they perceive this as being more risky. This hurts the economy.
3. Australian households and banks are highly exposed to the property market. Were there to be a correction, it is likely to have a major impact on the economy.

If you're an investor or homeowner, the last twenty-five years have been fantastic. If you're a new entrant to the market, then maybe not so good.

 

Add also a disincentive to be productive. If your house in sydney has been going up 200k a year tax free for the last 15 years, why skill up and work hard for a salary increase or start a small business? Just sit back and let land value rise do the work.

 

Yeah you can’t compare the 2.. as Sydney has 2 CBD’s.. one in the City and one in the West (Parra).

Sure, I’ll give you that. One advantage of Melbourne’s CBD is that it’s small. Sydney’s city CBD is rather large with different pockets separated by big buildings with nothing in between.
But the locals know where to go...

In Melbourne, besides the CBD, there’s not much else. In Sydney, not only is there the City and Parra, you can venture out to Bondi, North Sydney, Newtown, and Manly.. all with their own nightlife, restaurants and bars.

NRL is just better watched on TV, which is why many Sydney siders watch at home. AFL is good to watch live. If you compare a swans game to the roosters, same ground, yet the SCG is at capacity when the swans play versus it being 50% full when the roosters play. And this whole debate that Melbourne is the sporting capital of Australia.. you have the AFL.. where is this culture you speak of? Sydney has the Union, League, AFL and Soccer all in competition with each other during winter..

Finally, employment. Sydney simply has more corporate jobs on offer than in Melbourne... and in most industries.
Higher salaries means cost of living is inflated.

IMO, Melbourne will not surpass Sydney.

 

Yeah agree. Brisbane CBD is similar.

 

In all seriousness, I’ve been to Origin Finals, big NRL games, big AFL games and the atmosphere is so so flat and placid here it just doesn’t compare to other countries. There just isn’t the same passion and rivalry you get in Europe and the Americas, hence people don’t really care about the outcome or supporting their team, so they watch at home or in the pub. Certainly would not be an attraction for Melbourne as a place to live, merely something that is clung on to be the media and Mebournians.

 

..... and now this, a sign of the times

Bank of Mum and Dad becomes top 10 mortgage lender

 

Sports events in US is insane, its huge also including College sports/games

Its on a totally different scale, so much more money, its breath taking. Glad I got to experience this

 

In Australia we prefer the violence to be on the field rather than off the field. Personally I think a major reason for soccer riots is that the game is so bat **** boring that the spectators must find something else to do.