I know, the property price in HK and Sydney both are crazy. In Sydney, $900K is just average quality, new one is over $1M. When the time I owned the property in Tuen Mun, it was only around $4,500-$5,000/sq ft and now it goes to $6,000, my goodness.
Lillymarie, sure the prices alone are meaningless without reference to the average wage (ie affordability) of the people. I do reckon that there is a big bubble in the Australian properties market, but surprisingly the clearance rates in most auctions in Sydney & Melbourne have still been doing well (~ 60-70%), ie there are still many ppl willing to buy at the current prices & interest rate, which as you rightly said will surely be on the rise! I really wonder if those buyers have been migrants (Chinese??) as I just cannot figure out how an average Australian afford such prices.
But having said that, if you compare what you can buy with $7M in HK and $800-900K in the Aussie capital cities, you would appreciate what I meant by "cheap", sorry not cheap ..should be very "抵"!
Epping is a good area because of the school network, also, handy place. Well, all the Chinese areas are expensive! unless you are willing to move to the west.
DLPapa,
I agree with you, I also think the property is very 抵 if compared with HK, for the same amount of money, you can have a bigger/nicer one here.
However, the auction clearance rate is creative because the real estate agent didn't report if it's not sold. They are playing those figures!!! (I saw TV few months ago)
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