Australia & the Pacific Forums

Post New Topic

Recent Activity

View all Australia & the Pacific activity »
  1. 1 Add Mt Cook or not.
  2. 2 Sydney Airport Transportation Suggestions
  3. 3 New Zealand- 4 days Auckland with 2 year old)
  4. 4 Trip Report Western Australia (Denmark and New Norcia)
  5. 5 Itinerary questions on dream holiday
  6. 6 Trip Report Gariwerd - The Grampians
  7. 7 Real estate question
  8. 8 Moonee Valley, Caulfield, or other track
  9. 9 Food to Try Out
  10. 10 Trip Report Whale Watching - Port Stephens NSW vs. Hervey Bay QLD
  11. 11 Queenstown-Mt Cook road
  12. 12 7 night NZ, south island for active couple
  13. 13 Wainui Falls
  14. 14 18 Days tentative NZ Itinerary help
  15. 15 Sydney Neighborhood for Nightlight and Sightseeing
  16. 16 Trip Report Come join me on Rapa Nui, or Easter Island...
  17. 17 More authentic experience of Maori culture
  18. 18 Day trips from Wellington
  19. 19 2-week NZ Itinerary Questions
  20. 20 Agrodome Farm Tour
  21. 21 Recommended length of time for mother to visit me in NZ?
  22. 22 Please help create an itinerary in NZ's SI
  23. 23 3 days on North Island, NZ
  24. 24 Australia Visit in Feb'18
  25. 25 Kayak or cruise Milford Sound?
View next 25 » Back to the top

Sydney real estate and cost of living

Jump to last reply

Threads in this forum about cost of dining hinted at the high cost of living in Sydney.

Tourists are used to facing high prices in tourist areas of most cities but it seems the suburbs also have similar prices as the CBD.

An ice cream cone is about $5, which is more than you'd pay in Italy, for instance.

The thing that brought it home was the Waverly walks I did yesterday. Thanks to pointers in this forum, I did the Bondi to Bronte and then the Waverly Cliffs Walk northwards from north of Bondi towards Watsons Bay.

Particularly on the latter, I noticed a lot of well-placed homes off Military Road. These seemed to be good-sized homes, on quiet residential streets, but seemed to be at least 20 years old. There could be views of the city or overlooking the ocean.

I saw some real estate signs and when I got back, I Googled and was floored to find that homes in the area were selling for $2 to $3.5 million AUD.

No doubt it was due to the scenic location (though I wonder about the commute) but as far as I could tell, these homes didn't occupy particularly big lots. The front doors were just a few feet from the sidewalk and they didn't seem to have much in the way of backyards.

Apparently the real estate bubble never did burst in Oz and as far as I could find, median income in NSW is about $70,000AUD? Is it the wealth effect from appreciated real estate that makes it easy for Sydneysiders to spend about $20 for simple meals (burgers, chips and drink)?

I know the Australian economy has fared well with the exports of raw materials to China, resulting in low unemployment -- which makes you wonder why is the incumbent Labour govt. expected to lose in the next elections?

Is there any sense that real estate prices could crash as they have in other countries?

29 Replies |Back to top

Sign in to comment.

Advertisement