Will Housing Affordability Improve in Australia?

squeeze on 02/10/2024 - 23:36
Last edited 03/10/2024 - 11:14 by 1 other user

I feel I'm not alone in being really frustrated with the state of housing affordability.

For context I am late 20s with a partner, financially savvy, have a good income and savings yet home ownership is almost entirely out of reach. That is - without making drastic life changes that would significantly reduce quality of life (eg. living in a run-down shoebox or moving to undesirable areas with are significantly further from work, family, friends etc).

In other words- what I can afford now is simply not worth being drowned in debt for the next 30-years, I would rather continue to rent in shared housing or do something more radical like move internationally. For most younger people the cost of living pressures have only pushed the concept of home ownership further into the category of 'never going to happen' unless you are lucky enough to get a large inheritance or hit Tattslotto.

I would like to gauge the wider OzBargain community thoughts on WILL THE STATE OF AFFORDABLE HOUSING IMPROVE IN AUSTRALIA

Believe that as a country we need to strip incentives that make investing in housing so lucrative for already wealthy investors, find ways of increasing housing supply and fundamentally change the perception of housing as investments but as shelter.

Poll Options

  • 10
    Yes - Housing Affordability will Improve
  • 174
    No - Housing Affordability will continue to get worse
  • 14
    The situation will stay more or less the same
Financial

Comments

  • Hugh G Rection on 02/10/2024 - 23:54
    -4

    it will, but unfortunately no time soon. I am hoping i am wrong so i can purchase sooner than later. I have money, and ready to purchase another property that i want to get my kids as they are starting uni soon.

  • AustriaBargain on 02/10/2024 - 23:57
    +1

    Yes, but it'll get worse. But I think it's reaching breaking point. It wouldn't be the political or engineering feat of the century to just have large, high density towers built everywhere. If the US can build a massive highway network that spans their entire nation, snakes through existing cities and countryside, then we can build millions of nice enough and large enough apartments and just pop the housing bubble, if we really wanted to. We could do it any time we want, this country belongs to us all and not just the property investors.

    • Krankite on 03/10/2024 - 07:49

      One of the problems is developers won't sign-up to build nice enough housing because they can make more money on "luxury" developments.

      • soan papdi on 03/10/2024 - 11:47
        +4

        Why build liveable apartments when you can build twice more shoeboxes and sell them slightly cheaper? The problem is that these shoebox homes are targeted at investors. Young people have no choice to take up one of these at exorbitant rents and that just feeds into the cycle of building more of these apartments.

        • cunningdrew on 03/10/2024 - 13:18
          +1

          This is spot on. Started inner city, which almost made sense… but now they are on the outskirts of Geelong which is absurd. You live outer regional, you should have land.

    • R4 on 03/10/2024 - 16:48
      +1

      Fine if you want to live in an apartment but many people (including me) don't. That's sh1t living IMO.

      • soan papdi on 03/10/2024 - 17:07

        Everyone who hates apartment living is basing it off the shoeboxes we see everywhere in Australian cities. I grew up in an apartment complex (not in Australia) and can positively tell you, it was not sh1t living. Spacious bedrooms, plenty of people in your age group to grow up with, plenty of amenities near by, no backyard to maintain. It was not even a luxury-level, just middle-class. Getting good neighbours is based on luck but that's true for independent houses too.

        • R4 on 03/10/2024 - 17:25

          Note I said IMO.

          Glad you enjoyed it but it's not for me. I didn't grow up in a flat but I've lived in them and don't like it.

          Each to their own.

      • AustriaBargain on 03/10/2024 - 17:18

        More apartments for us then.

        • R4 on 03/10/2024 - 17:25

          Party on Garth

  • workingpoor20 on 03/10/2024 - 00:11
    +7

    Housing Affordability can definitely Improve In Australia. The only thing is it might not the kind of improvement you are looking for.

    The expectation or hope : Housing price drop! The 500m2 lots that cost 1m in 2024 is now dropped to 0.7m in 2029! Finally I can buy it at a comparable bargain!

    The reality: Building requirement/zoning law were forced to changed from immense pressure to increase housing affordability. The 500m2 lots that cost 1m in 2024 will still increase to 1.7m in 2029. But now you can get a new mini 100m2 lots for 400k in 2029!

    • mskeggs on 03/10/2024 - 01:54
      +2

      There are plenty of terraces on 150m2 lots that are nice places to live. I like my 970m2 block, but I’ve also liked living in terraces, apartments and townhouses.

    • gezza90 on 03/10/2024 - 13:24

      Isn't that called shrinkflation? Like when you're paying more for your Cadbury chocolate bar and it's come down in size by 20-40grams.

  • payless69 on 03/10/2024 - 02:55
    -5

    It already has improved in my area.
    First nations people getting brand new luxury accom. free of course.
    Around 1000 empty places not rented.
    You could move to Japan and find 20 million empty houses!

    • overthinking on 03/10/2024 - 11:08

      Suburb?

    • soan papdi on 03/10/2024 - 11:49
      +2

      Around 1000 empty places not rented.

      This is land-banking by investors. They're responding precisely to the incentives provided by the tax system.

  • capslock on 03/10/2024 - 06:55
    +1

    House prices in Melbourne are falling. Anyone with a good job should be able to buy at least an apartment somewhere in Melbourne. If you are being picky well that's a separate issue.

    • djsweet on 03/10/2024 - 11:43
      +6

      Not wanting to live in a run down shoe box when you have a reasonable salary and a good profession is hardly picky. Most of use just want to be able to afford something similar to what we grew up in with similar jobs to our parents. That is simply impossible, and people say it’s asking too much. But why?

      • muzzamo on 03/10/2024 - 13:17
        +4

        why is because we have run a migration rate much higher than other comparable countries between when we grew up 20-30 years ago and now.

        Why did we have such high migration? Because it keeps us out of technical recession and is the easiest way to do so. The alternatives - such as growing the economy through reform and good policy - are a lot harder.

        (per capita GDP is going down but as long as overall GDP is going up via increased population it's enough to say there isn't a recession).

        • cunningdrew on 03/10/2024 - 13:22
          +1

          THIS! We are using immigration as a means to stimulate our economy and keep us out of numerical recession. Instead of working to other reform measures, which are more challenging, we just bring more people in by boat. Of course, we have no infrastructure to service them and it means our kids can't buy houses, but politics is a 4 year game so it doesn't matter to them what happens over the course of 40 years.

      • cadwalader on 03/10/2024 - 13:45

        Most of use just want to be able to afford something similar to what we grew up in with similar jobs to our parents

        The city you are in now has much more amenities than what your parents had 30-40 years ago. You can absolutely have what your parents had if you are willing to downgrade the amenities you are used to, to what it was 30-40 years ago. If you live in Sydney, can can move to Perth where there are still more amenities than Sydney 30-40 years ago and you're still able to get a house for 6X income within 30 mins of the CBD.

  • joka on 03/10/2024 - 06:58
    +2

    I think the real question you should be asking in this thread is: “who here thinks they should be able to purchase their first home in a dream suburb with all the boxes ticked in their long lists of wants”. I think this will tell you what the real problem is.

    There is no shortage of affordable houses.

    • pegaxs on 03/10/2024 - 09:57
      +10

      There is no shortage of affordable houses

      InB4 suggestions of people looking to buy their first house should move out to an unknown town, 380km from anywhere with little to no job prospects, in a town of 248 people with 18 pubs and 1 grocery store, high youth crime and an open policy on racism just to get their 3 bedroom, fibro and asbestos cottage on a dry, dusty plot, complete with chain link front fence and outside dunny, all for $48,000.

      I think it’s pretty hypocritical that the people that suggest that others should do this would never have done this to afford their first house.

    • cunningdrew on 03/10/2024 - 13:25
      +1

      Sorry Boomer, you could not be more wrong. Kids are not wanting 4 bedrooms with a theatre, they just want a house where you bought one. Pull your head out of the sand. You cannot gloat in one sentence as the amazing increase in the price of your simple home and then in the other say there is no affordability problem for honest workers coming through.

      • joka on 03/10/2024 - 14:23

        It sounds like you are suggesting that the issue isn't about affordable housing. The issue is that the kids want to buy houses in the same suburbs as the parents did 40 years ago and expect to pay the same price?

        • eatcroissants on 03/10/2024 - 15:22

          So its more about the kids not adjusting their expectations than affordability. Inflation and economy will obviously increase the prices over the years. Expecting the same prices as 40 years ago is absurd.

    • Emerald Owl on 03/10/2024 - 14:18

      Where are the affordable houses within 30 min of work in Sydney cbd?

    • eatcroissants on 03/10/2024 - 15:20
      +1

      I was shocked to see how affordable Melbourne is. Go half an hour drive out of the city and you can find plenty of good, big houses for 600k. I bought one last year. Takes me 20mins to the airport and 35mins to the CBD.

      These people want to live right in the middle of the city and OWN a house there. It doesn't work that way.

      People just like being a victim instead of finding a solution.

  • ForkSnorter on 03/10/2024 - 07:01
    +13

    No, housing affordability won't improve. It may stop getting worse from time to time. But eventually it will go up again. By 2030, only multi-millionaires will be able to live in Sydney. It will be a completely different culture from the rest of Australia, with only super wealthy people living there, although there will be a few poor, confused stragglers hanging on in dilapidated studio apartments on the fringe of the city, working in the service industry to feed the wealthy Sydney residents who can afford to eat out every day.

    Australia is an absolute s***show. I'm contemplating getting out of here for good.

    Number 1 concern is the price of property, but also the utterly cold and emotionless, self-serving greed that underlies the increasing inequality tied to the cost of housing, not to mention the increasing congestion and density of the major cities, the bogan density of the cheaper areas, the lack of decent public transport in some of the most populated cities, the fact that something like 95% of the population drives to work, the concern that Mr. Potato Head could be elected one day, the fact that local councils and state governments will spend billions on CBD developments that have luxury hotel housing for about 200 people (e.g. the recent Queens Wharf in Brisbane), when they could have used it to build 10,000 houses instead, the fact that any time governments consider the cost of housing they usually put in place another cash injection to help people into the property market, which simply pushes up prices even more, instead of implementing a policy that actually would address the cost of housing, the fact that the governments have been too cowardly to address negative gearing, CGT discount, and the attraction of investing in property, which are the main drivers of inequality in Australia.

    For context, I wouldn't worry too much about not being able to afford a house at 28. I saved for 15 years, bought my first property at 43, and it was a tiny apartment. You've been sold a myth by the media that it's normal to buy a house in your twenties. In my experience, a lot of people don't buy a house until their mid-30s or 40s nowadays.

    • Seaword on 03/10/2024 - 08:21
      +5

      Is it any different anywhere else?

    • cunningdrew on 03/10/2024 - 13:30

      At what point do the Melbourne and Sydney inner city properties lose value because there is nobody available to service them? Who runs the cafe, the cleaning company, the childcare? none of these jobs can exist for locals because the pay bracket doesn't exist for people to live there. This is already happening to some extent. I go through Port Melbourne and it's literally an outdoor retirement village. I kinda laugh. It was a thriving suburb, now it's just rich boomers buying coffee from poor kids who travel to serve them.

      • Cluster on 03/10/2024 - 13:58

        People will commute 50km+ per day to service these areas. Eventually the boomers will die off in these areas and their kids (aged 55+) will move in. The cycle repeats.

  • onetwothreefour on 03/10/2024 - 07:26
    +1

    It's sad that some people in their 20's have given up hope. You've got decades of compounding in front of you, time is on your side.

    • cunningdrew on 03/10/2024 - 13:43

      Prices are moving faster than deposits. Ever wonder why they no longer talk about saving a deposit?

  • JIMB0 on 03/10/2024 - 07:44
    +3

    I hope so. I want to live in a clifftop mansion looking over the ocean, but they're a little out of my price range and I don't want to compromise on the location, size or quality of the property.

  • Sinnerator on 03/10/2024 - 07:58
    +2

    moving overseas sounds like a plan (I am currently researching options) rich people have ruined this country, and people here continue to vote for the same poiticians who the rich heavily influence

    • joka on 03/10/2024 - 08:54

      and how do you think rich people became rich?

      • Protractor on 03/10/2024 - 09:48
        +1

        shitting down the neck of poor ppl? (in various locations)

        • joka on 03/10/2024 - 11:00
          -1

          are you saying all rich people became rich by illegal or unethical means? not hard work and sacrifice?

  • Jaduqimon on 03/10/2024 - 08:07
    +3

    I say no housing affordability at its current trajectory will not improve. I am in my late 30s and was fortunate enough to get on the bandwagon in the early 2010s just before prices spiked to unreachable highs atm.

    Having said that, there are still plenty of affordable housing around. I.e. apartments in The Canterbury bankstown area in Sydney (not too far from CBD and has good amenities) however, at the moment the area is not desirable due to its demographics. But the same can be said for the innerwest 40 years ago.

    Without a way to increase supply, the price will not drop despite all the efforts on the demand side.

    Best strategy now is to rent vest if you can afford in an area that has potential but do not want to live in it yourself just yet. Buy it rent it out and rent yourself in an area that's more desirable. Think of it as a hedge.

    • carwashhair on 03/10/2024 - 10:07

      at the moment the area is not desirable due to its demographics

      I can't see what would be wrong with the area's demographic; the build quality of a lot of those new apartments however…

  • nswnotill on 03/10/2024 - 08:16
    +2

    I would like to see a return to the State Housing Commissions that existed in the 1950's and 1960's. These State bodies arranged for subdivisions, builders and all the necessary extras. They were rented to low income families. Unfortunately most were later sold to the tenants, and the Commissions dissolved.
    This could be done again, with low cost basic modular housing, on subdivisions in regional towns and cities. Forget about hi-rises in the cities. Encourage decentralisation for both housing and employment.
    The key is to build affordable homes using the latest mass production assembly line techniques as per the Swedish system. A massive shake-up to rid the system of excessive red tape would also be necessary.

    • Protractor on 03/10/2024 - 09:28

      Or the world could face the fact the planet is overpopulated and realise that drives every problem.
      Social bandaids can only stem the bleeding, one haemorrhage at a time, but sooner or later….

      Money has eaten our intellect

      • Minimum chips on 03/10/2024 - 12:09
        +3

        Well, if you want to solve the problem, you can die at 64.

        It's about productivity, but in simple terms young people contribute to the economy, old people are a drain on it. If the world is overpopulated, it's not people having kids that's the problem, it's people living too long.

        Yet people who complain about overpopulation tend to act like the problem is birth rates, as if the future won't require labour and the government and economy will be able to offer them a comfortable retirement even if the economy shrinks massively. How convenient that they're an exception to the problem of overpopulation.

        So are you going to spend your super on a flight to Dignitas mate?

        • Protractor on 03/10/2024 - 12:25
          -2

          You can have your rose coloured optimistic view if you want. Breeding less is no sacrifice, and it's meaningless and shallow to say aiming for a sustainable population level on the planet requires any forced euthanasia.(It's the goto lie from the greedy, the ignorant and other vested interests like 'demographers'. )
          More ppl can (and should) live better lives with less breeding (let alone the perverse pay to breed model) and the admission (and subsequent planning) that capitalism is eating producing more human guano than any other commodity. Productivity won't save you or anyone else, dear friend.Balance will. Capitalism's "demand for infinite growth", on a finite planet defies physics and sanity.

  • DingoBilly on 03/10/2024 - 08:37
    +4

    It's impossible to say as it really depends on what the government does.

    Labor has tried in the past and been shutdown, so if they're too scared to try again we won't get anywhere. I doubt Liberals would ever be proactive enough to do shit about it.

    But it would be somewhat simple to depress prices at least in the short-medium term by doing a few simple changes. Just have to get it past all the millionaires and media who have a lot of money to spend on why changes are bad.

    • cunningdrew on 03/10/2024 - 13:47

      You're right. If immigration continues to be strong and negative gear continues then housing will continue to boom. The government choose for this environment. The other one is that housing comes down and finally brings the economy with it.

  • coffeeinmyveins on 03/10/2024 - 09:03
    +4

    Let me consult my crystal ball.

    Those people that are hoping for a 50% crash to "buy a property cheap" are forgetting that our entire economy is based on property speculation and that if that were to happen, we'd be royally screwed in every way possible.

    It won't happen because the government can't let it happen.

    There's no reason for it to improve. Look at London, San Fran, NYC. People will just be priced out of suburbs near the city unless you get an inheritance etc.

    • JIMB0 on 03/10/2024 - 10:05

      With money printing and inflation there's a much greater risk of prices doubling than there is of halving.

  • plmko on 03/10/2024 - 09:23
    +3

    Im surprised OP is adament on renting in Melbourne. It is a shit show for rents but pretty reasonable for buying.

    Not sure why anyone would rent unless your circumstances puts you there or if you have a plan.

    • cunningdrew on 03/10/2024 - 13:48
      +2

      Because people in their 20's cannot put a deposit together faster than the rate of increase in property values. Not sure why anyone would rent? Are you tone deaf to the situation as a whole?

      • Birdseye on 03/10/2024 - 14:34

        Property prices in Melbourne have been flat or falling for the last several years. It's not uniform of course, but the median price now is similar to what is was pre-pandemic. It used to be the second most expensive capital city, it's now like 4th or 5th.

        https://reiv.com.au/market-insights/victorian-insights

  • Protractor on 03/10/2024 - 09:25
    +2

    mOVE TO bALI

  • mbck on 03/10/2024 - 10:00

    Affordable?

    That may take 2 things:

    Price go down a fair bit

    Income go up a fair bit.

    I dont believe either will happen. What will, is the price will stagnate at best. Or rise slower.

    Price cant fall too much or rise, as that would mean ww3 or somethign quite bad on a global scale.

    Best would be stagnating price/ slow increase

  • star-ggg on 03/10/2024 - 10:22
    +1

    Affordability will improve but only because the definition of "housing" will be changed for the worse. Houses and apartments will get smaller and smaller for the same (inflation adjusted) price.

    • coffeeinmyveins on 03/10/2024 - 12:58

      houses will get smaller and smaller

      Already have.

      What used to be a standard sized family home is now split down the middle, if not totally demolished to have a block of 4 units or a duplex on it.

      Apartments are hilariously small and even standalone houses are within a meter of their neighbours (hello, Box Hill).

      • webtonmoy on 03/10/2024 - 18:12

        Land area is getting smaller but I think newer houses are bigger in floor area.

  • Drakesy on 03/10/2024 - 10:27
    +1

    There're many variables at play here.

    Our current situation is largely off the back of short-term immigration fluctuations.

    The situation prior was largely off the back of:
    Piss poor policy making which created an environment where investors were flooding the market due to the countless tax breaks on offer.
    International investors undertaking money laundering practices up bidding properties - this was widespread.
    Poor supply due to again, flooding the market with unskilled labour (students) requiring the market to catch up when lets be honest, half our prospective apprentices ended up on the mines as diesel mechanics on the big bucks.

    Luckily prices are moderating at the moment as the covid high and tax cuts fade away.

    To fix it they desperately need to
    1) Cap the number of investment properties one can own
    2) remove stamp duty completely for first home buyers so they can even try to compete
    3) remove negative gearing and the CGT discount from investors buying existing properties - 10 year provision for those that build new properties.

    • OrangeBJ on 03/10/2024 - 13:01

      remove negative gearing and the CGT discount from investors buying existing properties - 10 year provision for those that build new properties.

      What about trusts and companies? They can utilise their complex cash flow structure to take advantage of the NG and CGT while mum-and-dad couldn't.

  • Protractor on 03/10/2024 - 10:38
    +3

    What are your monthly income /spending / saving numbers .(I mean we need to know you're not bowing $150 week on coffee, go out 3 times on the weekend,have $60K of 'optional' electronic items,phones,appliances etc).

    There's a lot of ppl riding on the back of the battler pack mule these days and they don't behave like battlers, or appear to be contracting lifestyles as per previous generations.
    Although I do certainly agree the incentive should be on housing provision, over ease of investment. Big time.

  • Duckie2hh on 03/10/2024 - 10:42
    +2

    living in a run-down shoebox or moving to undesirable areas with are significantly further from work

    It's tough to be so far away from the local hipster cafe serving smashed avo on toast

    • squeeze on 03/10/2024 - 11:16
      +1

      Was waiting for this boomer comment

    • ForkSnorter on 03/10/2024 - 11:53

      You can go to semi-rural locations and they're still serving avo on toast. Keep in mind, life is generally better in these areas, there is just less employment.

    • cunningdrew on 03/10/2024 - 13:54

      Sigh. Yeah that is not the problem here.

  • pharkurnell on 03/10/2024 - 10:57
    +2

    I guess its been 3 hours since we had one of these threads

    Try https://www.reddit.com/r/Vent/

  • overthinking on 03/10/2024 - 11:13
    +5

    Looks like you'd rather have a whinge on OzBargain than put in the time and energy into buying property.

    For context I am late 20s with a partner, financially savvy, have a good income and savings

    If this is true, you can absolutely buy something.

  • EightImmortals on 03/10/2024 - 11:43

    Taxation accounts for around 1/2 the cost of building a new home in most states. If the kleptocrats gave us a break then housing 'should' reduce in cost, The other problem is the shift from houses as a place to live as opposed to a money-making exercise.

    • djsweet on 03/10/2024 - 11:46
      +1

      Not saying I don’t want to reduce taxes. But I bet if taxation was reduced developers will just pocket the difference. The problem is supply and demand. Price won’t drop while demand is high and supply is low. If the government takes less tax, the sellers and developers will just pocket more profits.

      • EightImmortals on 03/10/2024 - 13:55
        +1

        Yes I suspect you are probably right on that score.
        Uncontrolled immigration is shaping up to be an important election issue in most western countries ATM.

    • valuer on 03/10/2024 - 13:42
      +1

      It only became popular with the masses to 'invest' in property because it worked more reliably for gain than other forms, such as bank deposits. So a fix to the rate of property value increase (more supply, less demand) would impact on the level of 'investing'. Removing taxes (or offsetting) would also help with releasing suburban properties with low occupancy.

  • zoombie on 03/10/2024 - 13:03
    +6

    To understand housing in Australia, you need to understand the culture of this country.

    In Germany, they allows not only their citizens but foreign citizens (not just eu members) to study for free. If you tell the Germans, they should make an industry out of their uni, they would laugh at your face.

    If you go to the Dutch and tells them to allow pokies machine in every suburbs because it provides some jobs, they would laugh at your face.

    Do you see a pattern here?? Aus culture is to look for easy ways to generate some economic activities (laid-back country), housing is just part of that deal.

    People want gov to stop speculative investors, but investors account for 1/3 of new home loans. If the gov happy to use education and gambling as an industry because it provides some jobs, you think they will stop this?

    Truth is, gov secretly wants house prices to go up. Because it provides a lot of economic activities when investors speculate. Think about how many people are involved in a property transaction, you have lender, broker, conveyancer, seller's agent, buyer's agent, property inspector and so on.

    If you live in Aus, you just have to accept that aus is an inept country that uses BS industries to support its shallow economy. Without housing, population growth, or international students, how else would Aus grow its economy? You think we going to invent the next Nvidia or Ozempic?

    • kachi on 03/10/2024 - 13:31

      This is so true and I agree, the culture here does have a big play. Education and gambling used heavily to make a profit out of…2 very different sides of a spectrum in a way

  • valuer on 03/10/2024 - 13:36
    +1

    If Australia had a better standard of living when there were fewer (say 14 million) people, then how would we get back to that number?
    HINT: Apart from the population number, more things then were made domestically.

  • kachi on 03/10/2024 - 13:44
    +1

    I think it will only continue to get worse if it remains the same as it is now. I am seeing a lot of similar feelings from the younger generation and I agree, it definitely is a challenge and I can see why a large portion will choose to 'give up' on it I suppose, the process there will require drastic changes to life and then when you finally get that mortgage, that is another x years of slogging away. I am not talking about even people who purchase 'unecessary' luxuries, but maybe some will have to give up a lot. For those older generation who say the younger are lazy, can't concentrate etc I disagree. It is not that the younger generation is lazy it is just becoming very difficult to the point they question is it really worth sacrificing that much for years that they can no longer enjoy anything for XX years. Also it is evident that in comparison to the wage growth vs. house prices, there is a much LARGER gap compared to the previous generations so this is where it gets difficult. The income and savings growth will unlikely be on the same speed compared to inflation.

    It is a lot more challenging for people if they do not have support from family (whether financial gifts, property gift, opportunity to live at home for longer) etc and I think it is much more challenging if you are purchasing single compared to a combined income. I also think one of the reasons why I hear people just not deciding to have kids, or or really thinking about it first.

    I do think, if you plan to stay somewhere long term, it may be good to get your foot in the door, a home within your budget and that meets a decent amount of your preferences. Look at the pros and cons between living in a freestanding house further away, the outer suburbs and if you really want something closer maybe you will have to consider something much smaller. Also for those who just say rural, this is not easy as it sounds. I would love to but I am still planning how to live rurally, (especially with the job part), however there are less jobs, services or facilities in rural. Also it doesn't help when Australia decides to close down major manufacturers or business' that were rurally located and now the labour/production is offshore. A lot of things are now produced or manufacturered offshore, which is sad, as those jobs are now gone for the local people.

    For the OP, since you said you had a good income and a partner. I would assess your finances, spendings and budget. I do think it is much more possible with a dual income. Along with any FHB schemes you can get.

  • Cluster on 03/10/2024 - 13:55
    +6

    Houses have been expensive in Australia for a very long time. In the 1980s my parents complained. In the 2010s I complained. People are complaining now.

    There are more people here than ever before and we can't all live within 10km of the CBD. Something has to give.

    If you are waiting for affordable AND desirable housing in Australia, you will never buy a house.

  • cadwalader on 03/10/2024 - 14:15
    -4

    Housing is already affordable and generally better than the type of amenities 6X average male income in 1980s.

    What will be more and more unaffordable is detached low density housing near areas that convey status and has the best amenities.

    If we want more supply nearer to the big cities, zoning and height restrictions will need to change.

    • Emerald Owl on 03/10/2024 - 14:23
      +2

      What amenities? New houses in Sydney used to be near train stations. Those days are gone.

      • cadwalader on 03/10/2024 - 14:43
        -2

        Entertainment, music festivals, plays, concerts, dance etc. Fine dining, other food options, micro breweries, gastro pubs etc. Healthcare technology, specialists etc. Sports, rock climbing gyms, sailing, spinning, yoga, pilates etc. Perceived education quality houses near higher ranked schools are more expensive etc. Ease of international travel like number of connections and flight frequency etc.

        • Emerald Owl on 03/10/2024 - 14:59
          +2

          You said better housing and amenities than 6x average male income in 1980s. So a stay at home wife, detached house near a train station and a 9-5 job after leaving school at year 10 is worse than sport? Pubs, music and sport have been around forever. Just because they use fancier words doesn’t mean they’re different.

          • cadwalader on 03/10/2024 - 15:01

            @Emerald Owl: If you want a stay at home wife, detached housing <30 mins from the CBD and 9-5 job after leaving school at year 10, go take up a trade and move to Perth. Just like they did in 1980.

            Entertainment, music festivals, plays, concerts, dance etc. Fine dining, other food options, micro breweries, gastro pubs etc. Healthcare technology, specialists etc. Sports, rock climbing gyms, sailing, spinning, yoga, pilates etc. are not like what they were in the 1980s. If you think they are, you can just go to Perth. Just because you don't recognize the amenities in Sydney and Perth as different, doesn't mean others don't.

            • Emerald Owl on 03/10/2024 - 15:14

              @cadwalader: Tradies are smelly tho

            • Emerald Owl on 03/10/2024 - 15:17

              @cadwalader: I spend my money on housing and time on commuting so am not into sailing, which has been around far before the 1980s.

              • cadwalader on 03/10/2024 - 15:20

                @Emerald Owl: But sailing is way more accessible now in Sydney and Perth today than it was in 1980s.

                I spend my money on housing and time on commuting so am not into sailing

                If you lived in Perth you'd spend a lot less on housing and time on commuting so you could get into sailing.

        • Drakesy on 03/10/2024 - 15:02

          "Give me a 100sqm shoebox apartment that's build so crap you can't live in it around pubs music and sport for $1 mill over a 600sqm home within walking distance to a train station and shops/cafes anyday"

          Said no one ever

          • cadwalader on 03/10/2024 - 15:18
            -2

            @Drakesy: No matter how many strawmen you make up. The fact is that people rather rent nearer to Sydney's entertainment, music festivals, plays, concerts, dance etc, fine dining, other food options, micro breweries, gastro pubs etc, healthcare technology, specialists etc. sports, rock climbing gyms, sailing, spinning, yoga, pilates etc, perceived education quality than own a house at 1980 price to single male income ratios near to Perth's entertainment, music festivals, plays, concerts, dance etc, fine dining, other food options, micro breweries, gastro pubs etc, healthcare technology, specialists etc. sports, rock climbing gyms, sailing, spinning, yoga, pilates etc, perceived education quality.

            • Emerald Owl on 03/10/2024 - 15:25

              @cadwalader: My whole life, family, employment, friends, etc is in Sydney. Expecting people to move to the other side of the continent is absurd and a strawman.

              • cadwalader on 03/10/2024 - 15:28

                @Emerald Owl:

                My whole life, family, friends, etc is in Sydney

                Do they help you spend less money on housing and time on commuting so you can get into sailing?

                Not sure you know what a strawman is. 50% of Australians have their parents born overseas. Its the Australian way to move across vast distances in search of something they want. Do you want cheaper housing? Do you prefer to pay more for housing in Sydney or do you prefer to pay less for housing in Perth?

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