How much house can you afford in Australia ? (By Salary

How much house can you afford in Australia ? (By Salary | Rent & Buy)

Рет қаралды 9,626

Күн бұрын

Пікірлер: 63

@IreneZhu 5 ай бұрын

What do you think is the primary cause of the current housing crisis 🤔 📈 Manage your portfolio on Navexa and get 3 months off on your annual subscription: www.navexa.io?fpr=irene

@boxedog 5 ай бұрын

BIG flood of Indians and Mandarin speaking CCP affiliated Han Chinese laundering their dirty money!

@bign1667 5 ай бұрын

I think NSW is in its own overpriced property bubble that everyone wants to live in, and the government isn't hands-on supplying the demands for new home suburbs that has everything to raise family and grandchildren. So everyone feels squeezed and restricted. So what I mean by that is this it's great to make new housing estates but if you can't build homes correctly and supply stuff like emergency services, schools, hospitals, faster express public transport than that forces people to pay more to live closer to the city.

@CameronFussner 4 ай бұрын

Back in the day, when I purchased my first home to live-in; that was Sydney in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

@Franklin-gq4si 4 ай бұрын

If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.

@BernardFrederick-tk7un 4 ай бұрын

Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.

@Bellaelena549 4 ай бұрын

Impressive can you share more info?

@BernardFrederick-tk7un 4 ай бұрын

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Annette Marie Holt for about 4 years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

@RaybellarayRay 4 ай бұрын

Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.

@Woodland26 5 ай бұрын

I tagged along to my friend's house hunting exercise. Budget around 900k in outer Sydney. For that you can expect a 3 bedroom, 1 bathroom old house around Penrith, with the land already at 400sq m so no room for expansion. Usually such house when open for inspection would have 50+ parties turning up and is gone within a week. It is crazy. My son did a house and land package in New England area for about 600k, single level home 4br, 2baths, double garage. He is happy to leave Sydney's rat race.

@IreneZhu 5 ай бұрын

It’s wild how competitive the market is in Sydney, the world's second-most expensive city. Your son’s move to New England sounds like a smart choice for more space and a less stressful lifestyle.

@coopsnz1 5 ай бұрын

@@IreneZhu sinagpore is second most expensive city a studio 1.6 million ! left media lie

@IreneZhu 5 ай бұрын

@@coopsnz1 The most unaffordable city is Hong Kong, 2nd is Sydney. Not Singapore - 78% of population live in public housing.

@crptc5707 5 ай бұрын

Good for him, my only beef with America is there're too many blacks and illegals

@stevey7059 5 ай бұрын

We should learn it from Singapore where the home ownership is 90%. It's the government looks after housings and are sold at a very low price to the citizens as it's essential, unlike here it's the developers control the housings in which profit comes first. So its the government's fault.

@HyperIndian 5 ай бұрын

This is the only answer

@unclelive6918 2 ай бұрын

Singapore no thanks , 4th world

@adrenaline2002 5 ай бұрын

Increasing population and not enough supply. Most migrants want to live in metro areas, so that puts the squeeze mainly in those areas. If the govt is serious about wanting to solve this problem, it needs to provide supply in the relevant areas. Develop more land, houses, infrastructure and provide more opportunities for employment in these new areas. There will definitely be people who are willing to move if there is actually an opportunity to actually live there properly.

@LuceWilliam-ir9mg 5 ай бұрын

Purchasing a stock may seem straightforward, but selecting the correct stock without a proven strategy can be exceedingly challenging. I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies. Any advice on this matter would be greatly appreciated.

@jasmineortiz5551 5 ай бұрын

The strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off

@nealremy6635 5 ай бұрын

Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.

@DawnMyoung-l8b 5 ай бұрын

Impressive gains! how can I get your advisor please, if you dont mind me asking? I could really use a help as of now.

@DawnMyoung-l8b 5 ай бұрын

My needs are kind of unique and complex. I'll contact her nonetheless, and I hope I'm able to make something out of it.

@ausbris 5 ай бұрын

scammer never change their story

@shanesimons5801 5 ай бұрын

Does not take in to account 2 incomes. If 2 people are on 90k a year they take home $2536 compared to $2328 for $180k. Meaning you could afford a rent of $761 compared to $698.

@IreneZhu 5 ай бұрын

The data is for household income, but there might be slight discripancy of the after-tax income you just mentioned.

@stevey7059 5 ай бұрын

Some Australian are just too rich by leaving their houses empty instead of renting it out, and some elderly are still living in a 5 bed big house even their kids have moved out, otherwise there would have been more houses available in the market.

@iDrive123 5 ай бұрын

What others do with their property is none of your business

@elitechampion 5 ай бұрын

It's definitely because of the negative gearing combined with the capital gains discount and the increasing population. They need to restrict this for new properties only so that we expand on stock without jacking up prices on existing houses. That way, we don't end up with a rich minority lording over a majority of poor rent slaves that may never break out from under their thumb whilst they compound the number of properties they have and retire early.

@IreneZhu 5 ай бұрын

Well said!

@coopsnz1 5 ай бұрын

it not it high taxes in new york homes cheaper than adelaide

@camlyallx3149 5 ай бұрын

Don't forget about kids. The banks have extra lending criteria like the lending ratio vs how much you earn goes down considerably with however many dependents you have. I know so many families that have lied to the banks so they can secure a loan.

@IreneZhu 5 ай бұрын

That's so true!

@unclelive6918 5 ай бұрын

Lie about no kids ?

@camlyallx3149 5 ай бұрын

Yes. I've known a few families here and there tell their broker one thing then together tell the banks something different. They know their loans are high to begin with but they still manage. I'm a big fan of line of credit or offset type lending to pay mortgages off sooner.

@johhnmorgan8329 4 ай бұрын

Byron bay, coolangatta, kingscliff tweed heads you missed

@vichetkim5533 5 ай бұрын

The bottom of interest rates were lower than 2.4. Some mortgage holders got rates as low if not lower than 1.9.

@avinash0072355 4 ай бұрын

Thank you, Irene. Excellent video backed with lots of research and information.

@IreneZhu 4 ай бұрын

Glad you enjoyed it!

@mangoman9290 5 ай бұрын

A very interesting perspective on the current situation, great work!

@IreneZhu 5 ай бұрын

@@mangoman9290 Thank you for your ongoing support!

@guardianlion8914 3 ай бұрын

This is a research-loaded video. Appreciate the info and work, Irene! What are the additional fun costs of owning a unit/apartment worth $750,000 in Sydney for the first year? I was hoping you could direct me to a website that could help calculate that. Thank you!

@IreneZhu 3 ай бұрын

Thanks for the time to watch😃 If you have counted the upfront costs (stamp duty, Transfer Fee, LMI, Legal & Conveyancing Fees, Building & Pet Inspection Costs, Mortgage Registration Fee, Valuation Fee), there are additional ongoing costs, such as Strata Fees ($1200~$3500 p.a), Council Rates, Utility Bills, Home & Content Insurance, maintenance fees (typically budget 1%). I couldn't find a comprehensive website that lists all the fees; most of them focus on mortgage repayment, like this one: www.yourmortgage.com.au/calculators/upfront-and-ongoing-costs. I've made a video about the total costs of buying a first home (upfront & ongoing costs) that you can check out kzbin.info/www/bejne/n6Wvf5KsoNV_bpI

@representwest 5 ай бұрын

Australia is cooked.. I was born here and now I think about moving out like the resto of my friends.. I am milenial have 0 chance to buy house or have family..

@jejudo3000 5 ай бұрын

I’m from Canada and our country has the worst housing market mate thanks to our greedy incompetent government lead by Trudeau

@iDrive123 5 ай бұрын

@@representwest I agree, I moved to Indonesia.

@sunnychahal7710 5 ай бұрын

Very well presented video 😀 keep up the great work! 👍

@IreneZhu 5 ай бұрын

Thank you! Will do!

@leapingdeer7880 5 ай бұрын

I feel for those on $41k a year, it's not their fault, we need more wage growth for all the workers on 60k and less, honestly this is shotty

@realaussiemale567 4 ай бұрын

It doesn’t matter how much property you can afford, you’ll NEVER own it, not because you can’t afford to pay it off, but because state & federal labor governments have old off all state & territory land titles office to foreign corporations, behind our backs. Where you used to be purchasing the land from the Crown, you’re now leasing it from a corporation. It’s all tied to the Indigenous Treaty Act, 1 reason Albanese was so insistent on the Yes vote. Look it up, it’s all fact.

@jejudo3000 5 ай бұрын

Lord bless Auss mate 🇦🇺

@Hunty49 5 ай бұрын

The banks should be using these same numbers and not giving mortgages to people who can't "afford" them. But the banks want your money for the next 30 years, so that's not happening.

@IreneZhu 5 ай бұрын

The lenders have LMI insured (paid by the homeowners) for down payment less than 20%, so they are not worried.