Sydney is not as un-affordable?

Discussion in 'Property Market Economics' started by Noobieboy, 2nd Feb, 2019.

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Sydney is affordable?

  1. Very affordable

    6 vote(s)
    8.7%
  2. Somewhat affordable

    14 vote(s)
    20.3%
  3. Neither

    5 vote(s)
    7.2%
  4. Somewhat unaffordable

    12 vote(s)
    17.4%
  5. Very unaffordable

    32 vote(s)
    46.4%
  1. Scott No Mates

    Scott No Mates Well-Known Member

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    Slight problem for some - jobs.
     
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  2. kierank

    kierank Well-Known Member

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    Think of the jobs that such a migration would create in Qld :D.
     
  3. Sackie

    Sackie Well-Known Member Premium Member

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    Hk is in another realm of 'unaffordability'. :D
     
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  4. Scott No Mates

    Scott No Mates Well-Known Member

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    Q. What did the science graduate say to the lawyer?

    A. Do you want fries with that? :rolleyes:
     
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  5. Oliver

    Oliver Well-Known Member

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    The average time commuting in Sydney is 35min one-way... Even in Paris, the average is 45 min one way...
     
  6. Gockie

    Gockie Problem solver Premium Member

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    What's your source?
     
  7. Oliver

    Oliver Well-Known Member

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  8. Gockie

    Gockie Problem solver Premium Member

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  9. Oliver

    Oliver Well-Known Member

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  10. Gockie

    Gockie Problem solver Premium Member

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    Quote from SMH
    "The Deloitte study found workers tolerate much longer travel times to work in a CBD than elsewhere. The average one-way commute for a Sydney CBD worker was 63 minutes, nearly 70 per cent longer than the city-wide average. That shows many CBD workers are prepared to trade off more time travelling in return for one of the well-paid (and possibly satisfying) knowledge jobs that cluster there, such as banking and professional services."

    Which is true.... I could get a retail job in the next shopping centre, or do work like I have in the city and get probably 3-4x the income.
    Or I could do similarish work near my local shopping centre but I mightn't like it that much. I really like my job right in the middle of the city.
     
  11. Whitecat

    Whitecat Well-Known Member

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    I think you are correct that a lot of people aren't willing to sacrifice they have kind of given up but I don't think it's correct to say"that's all it is" I think affordability is a genuine problem also.
     
  12. Sackie

    Sackie Well-Known Member Premium Member

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    I agree home prices in the best areas and closest to the cbd and beaches are not within the reach of the average income earners. But there are plenty of other options . Still units 12km from the cbd for 500k. Ppl can alwsys move further out, move city, move state, etc.

    Its just the reality for high demand cities. If you look at some other cities in high demand around the world, Sydney isnt even that bad. Problem here is many think they have an automatic right to buy . They don't imo. Renting is a great option. Many ppl around the world rent if they can't afford to buy where they wanna live and not compromise .
     
  13. Illusivedreams

    Illusivedreams Well-Known Member

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    Australia's is oneof the most amazing places to make it.

    Even a cleaner at the airport or State transit with wife doing the same can buy a 2/1/1 partment in Liverpool and not struggle. In One on Sydneys CBDs employment everywhere around.

    Serious this argument of affordability is ********.

    A cleaner in Russia WILL NEVER EVER BUY AN apartment.
    Ditto capital of India, Pakistan


    If you are a low paid work you will have travel.
    Get some gumption patience work your arse of and move closer.

    Otherwise buy in Campbelltown a nice house for $550,000 600sqm block yard brick house with pool if lucky and aspire for more.

    Don't be a snowflake.
    "Dan Peña"
     
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  14. Illusivedreams

    Illusivedreams Well-Known Member

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    Travel time.jpg
     
  15. Illusivedreams

    Illusivedreams Well-Known Member

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    @Gockie not sure if the graph above is useful its an extract from a PDF article I found.
     
  16. Redwing

    Redwing Well-Known Member

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    Cost of living in Sydney pushing many to limits but NSW election offers little hope

    David Boyd's story is proof that life can turn on a dime.

    He was once a high-flying banker, but his life began to unravel when he lost his job in the global financial crisis and now he struggles to find the money to provide for the basics for his 10-year-old daughter Kali.

    "I was at the top of the tree," Mr Boyd said.

    "I was wining and dining and had the beautiful house on the beach, half a million dollars in the bank and now I'm at the opposite end of the scale.

    Key points:
    • David Boyd spends three quarters of his Centrelink payments on a cramped Sydney apartment
    • Cost of living is a big issue ahead of next month's NSW election
    • There are 60,000 people on the waiting list for NSW public housing
     
  17. Cimbom

    Cimbom Well-Known Member

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    Lol next you'll be telling us it's all fine and dandy because we don't live in Somalia. If you're going to do comparisons maybe have some standards and find a better one than Pakistan :rolleyes:
     
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  18. 2FAST4U

    2FAST4U Well-Known Member

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    Just be grateful that your not in a gulag:p
     
  19. Noobieboy

    Noobieboy Well-Known Member

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    There are gulags in pretty much every major power these days.


    I’m struggling to understand how a high flying banker managed to blow through half a million in cash with absence of any health or similar outlay. Doesn’t make sense even in Sydney.

    He could have bought a two bedder apartment for that amount of cash in a lot of Sydney suburbs.
     
  20. standtall

    standtall Well-Known Member

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    Sydney doesn’t have an affordability problem, it has a kids education problem. There are a total of 1,488 primary schools in Sydney but only 100 or so are good enough to give kids good future prospects like a decent university education. I heard a teacher quote that around 83% of Sydney schools have not produced a doctor or an engineer in last 20 years. This is an incredibly worrying statistic and lies at the core of why people aren’t willing to buy in certain suburbs/regions despite massive price differences.

    For a prospective homeowner, this means living closer to one of the top 100 schools becomes increasingly important for parents specially those from immigrant backgrounds who want their kids to attend a good university.
     
    Last edited: 18th Feb, 2019 at 5:42 PM
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