Society/Culture Australian Property Prices to Crash?

May 5, 2006
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Why would people who want a house and can't afford a house of $1m be looking at a house worth $1m? There are heaps of houses out there for different price ranges, choose one you can afford or continue to pay off someone else's mortgage.

Maybe people resent a lower standard of accommodation relative to income over time being the norm.

Don't get me wrong I would prefer a river front property or something in Cottesloe overlooking the ocean and accept I can't afford that, but if people tell me that you need to go to uni, rack up a $50-100k debt, work your way up to an above median wage to afford a basic 3x1 40km out of the city I am happy to question that.
 

Evolved1

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A housing market crash would be disastrous to the economy. Our governments will keep propping that bubble up with every tool they've got.

Questioning the status quo wont change s**t.
 

CatFan79

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Sep 25, 2004
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The point of conjecture is that it wasn't that long ago you could be a school teacher or something and afford a 3 bedroom home in a decent suburb and have a family.

Yeah, it's called demand. House prices aren't set by anyone but the market.

We up immigration, immigrants want to live in CBDs. Let me take a wild guess and assume a lot of people who are pro immigration are also complaining about house prices.

Your kids and grandkids have a super life ahead of them then.

Like the prospect of living further away from a CBD is so depressing..

The mind boggles.
 
Depends where, obviously. Nobody lives in Melton or Cranbourne because they want to.

Sorry but this is wrong

A lot of people choose to live out there because you can have a large block with a big house and a massive yard. Those days are nuked in most of inner/middle Melbourne.
 
Dec 18, 2007
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Sorry but this is wrong

A lot of people choose to live out there because you can have a large block with a big house and a massive yard. Those days are nuked in most of inner/middle Melbourne.

Most inner Melbourne suburbs on the north side of the Yarra never had homes on big blocks with a big yard.

South and east of the Yarra was mixed with working class suburbs surrounded by wealthier areas and it was the wealthier areas where people had larger houses with larger yards.
 
Most inner Melbourne suburbs on the north side of the Yarra never had homes on big blocks and a big yard.

South and east of the Yarra was mixed with working class suburbs surrounded by wealthier areas and it was the wealthier areas where people had larger houses and larger yards.

You forgot the big Asterix, if you're prepared to spend a s**t load of money

I spent two years looking for my current place in the middle eastern suburbs, and I can count on one hand how many were the traditional quarter acre.

We were seeing houses on just over 500sqm
 
Dec 18, 2007
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You forgot the big Asterix, if you're prepared to spend a sh*t load of money

I spent two years looking for my current place in the middle eastern suburbs, and I can count on one hand how many were the traditional quarter acre.

We were seeing houses on just over 500sqm

The middle eastern suburbs for a long time were more middle class but some people seem to think that the inner suburbs were once affordable housing with large blocks but that wasn't the case.
 
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The middle eastern suburbs for a long time were more middle class but some people seem to think that the inner suburbs were once affordable housing with large blocks but that wasn't the case.

And that was back when our population. Was much much smaller
 
The inner suburbs haven changed so people living in Richmond and other inner suburbs didn't have big backwards.

You're comparing miners cottages to a quarter acre block suburb.

No s**t you can't subdivide a miners cottage
 
Dec 18, 2007
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You're comparing miners cottages to a quarter acre block suburb.

No sh*t you can't subdivide a miners cottage

Some people seem to think there were quarter acre blocks in those inner suburbs but there wasn't

There was in more middle class areas south and east of the Yarra and out Essendon way.
 
May 5, 2006
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Yeah, it's called demand. House prices aren't set by anyone but the market.

We up immigration, immigrants want to live in CBDs. Let me take a wild guess and assume a lot of people who are pro immigration are also complaining about house prices.

'The market' is pretty s**t. Hence the discussion.

The bolded is half the problem. Endless population growth is not sustainable.

The accepted norm of demand outstripping supply (at least perceived demand outstripping perceived supply) forever to the detriment of each generation that comes next is why people have the shits with the whole thing. People are pretty quick to say 'too bad that's how it's always been move on'. Even though it's not the way things have always been.

Like the prospect of living further away from a CBD is so depressing..

The mind boggles.

How many people commute to Melbourne from Sunbury? Gisborne? Woodend? Kyneton? Bendigo? That's basically what people advocate. Don't get me wrong I would rather move down South and live in a small town than commute an hour plus each way but the whole reason people congregate into cities is there is work and shared services etc.

People throw out daft statements like 'just move further out' without recognising that there is a practical limit to how far out you can actually go. Investment into decrentralising the cap cities, transport infrastructure etc. isn't there to support it. But really it's just another way of saying 'be born earlier' most of the time.
 

CatFan79

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I'd imagine most housing estates would be dishing out 1/8 acre blocks these days.

Most lots for free-standing homes are less than that now.

This is where new housing estates are going... Townhouse on about 250sqm lots. That's down here on the surf coast, I assume similar around Melbourne outskirts.
 
Jun 19, 2011
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More like can't afford money or time to do landscaping because they rather eat out every night and travel for life experiences.
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