QLD Sydney folks selling up and moving to Queensland

Great table. Looks like Sydney has many of the big companies placed there

 

it has to be balanced. Just like supply is the balancer of demand, pay is balanced by expenses ( including 'unavoidable' costs such as a roof over your head).
So whilst Sydney may pay higher, what about its cost base? and ask if that costs base is higher more than the pay elsewhere. If so, net profitability may be higher in different places.

 

Forget high end suburbs that are super ex (focus onsuburbs that are affordable etc)

Just like Mt Druitt or even in some suburbs Melbourne ( u need quality jobs for prices to move)

I highlight my recent last sale (top 3 offers all FHB asked to bid higher) a suburb that was in the 300kis, then 400Kish then now 500Kish

occupation 1: 2 Jobs - worker (Officeworker administration in day, cleaner at night)
occupation 2: 1 job - Senior manager in Accounting Firm
occupation 3: 1 job Civil Engineer Water company

If it was all occupation 1 : I would have been in 400Kish not the 500Kish as the block was smaller. But occupation 2-3 pushed it 500Kish which as a good outcome.

Can't expect people working in woolworths, cafes, chefs, cleaners to move a suburb to the next price bracket so quickly. the higher assessable income, the higher the ability to bid or put a higher offer.

 

its not just unaffordable suburbs. Look at Druie- its median is 650K ( rp data). ..and is considered the struggle street of sydney. I doubt the Druie will have lots of senior managers and civil engineers.

 

Well maybe Druie has gone up (doesn't one of the domain journalist on PC stay there?). Pt Cook was the example I gave you for the sale. what was build for maybe low 300Kish and stagnant moved to 500Kish because of higher income individuals moving and paying more for it. Not investors all FHB.

Another example is geelong (direct train - to be honest not that much compared timewise to frankston to CBD). There are a lot of ppl who work in corporate jobs that stay in geelong. (and it will boom first before anything else - coz price bracket is already below what you can find in Melbourne suburbs) and you can still work in CBD and stay there.)

I mean yeah if you going to buy in a premium suburb (then you gonna pay for it) no diff to paying one in Brisbane, Melbourne or Sydney. if you can afford a million + as a home.

 

Like it or not even Mt Druitt now is unaffordable for many people. Median price for 3 bedder in Mt Druitt is now $600k. Even at that price someone on $80k a year would struggle to save 20% + stamp duty. If you have a family and multiple kids on that money well you'd be struggling bigtime.