Emigration..... The grass isn't greener after all...

HAMISH_MCTAVISH

Lots of posts lately from the more bearish posters stating they want to leave Britain, or should have left already, or some other melodramatic nonsense., with house prices rising so strongly last year.

So seemed a good time to point out that the grass isn't always greener elsewhere......

A favourite destination seems to be Australia, where house prices are actually FAR higher than the UK in terms of earnings multiples.

Average house now over 6 times average salary, and more like 10 times to 12 times in the bigger cities.

MELBOURNE house prices soared by 17 per cent in the first 11 months of 2009, outstripping growth in all other capital cities, new figures show.

The latest RP Data index, compiled from Valuer-General's figures, indicates the Melbourne median house price hit a new record of about $580,000 in November.

The news came as the Australian sharemarket closed at its highest level for the year. The S&P/ASX 200 index finished yesterday at 4870.6, up 31 per cent for the year and 55 per cent from its trough.

Melbourne's 17 per cent house price jump eclipsed Darwin's 15 per cent, Hobart's 14 per cent and Sydney's 12 per cent. And the rise more than offset the 5 per cent slide in Melbourne prices that followed the global financial crisis.

Melbourne's median apartment price increased even more strongly, up 19 per cent to $440,000

Oh dear.....

Lets look at another perennial favourite destination, Canada....

The speed with which the Canadian housing market has rebounded has exceeded all expectations. Since the second quarter of 2009, the market for existing homes has regained momentum, and prices and sales are rising.

In August 2009, the average price of existing homes sold through the Multiple Listing Service® was CA$324,779 (US$303,614), up 11.3% from a year earlier.

Average salaries in Canada are around 38,700 dollars a year, according to this site. http://www.worldsalaries.org/canada.shtml

Which makes canadian average house prices around 8 times average salary.



So that doesn't look so good either.

Still, must be somewhere, what about China?

Great food, nice people, and housing now approaching 80 times average salary in some areas.

In Beijing’s Chaoyang district, which represents a third of all residential property deals in the capital, homes now sell for an average of almost $300 per square foot.

That means a typical 1,000-square-foot apartment costs about 80 times the average annual income of the city’s residents.

http://www.bloomberg.com/apps/news?pid=20601109&sid=arp0XyPoRxW0&pos=10





Hmmmmm, maybe Britains looking not so bad after all!!!!:rotfl:

Graham_Devon

And in the UK, with the average salary at £26k and hthe average house at 162k, it's 6.2x average wages.

Oh dear.

nollag2006

Went to visit Oz with Mrs Nollag in November, and it was blooming pricy. The Aussie dollar is abour $1.6 to the pound now, compared to $2.6 to the pound when we were last there a few years ago.

Salaries and wages are now similar to the UK, but the cost of living is far far higher

HAMISH_MCTAVISH

Graham_Devon wrote: »

And in the UK, with the average salary at £26k and hthe average house at 162k, it's 6.2x average wages.

Oh dear.

Exactly. The point being that it is no different in many other major economies.

But even I'll admit that 80 times average income is nuts.:eek:

Graham_Devon

HAMISH_MCTAVISH wrote: »

Exactly. The point being that it is no different in many other major economies.

But even I'll admit that 80 times average income is nuts.:eek:

It's just one single indicator.

Taxes are another, costs of living are another. All I know is the people I do know who moved out to Australia are much much happier and have a much higher standard of life there. It's my ex boss's son. She's looking to move out there now in 2 year also.

She does have another son here, so shes stuck between the two, but has pretty much chosen Aus as the better place to spend their retirement.

nollag2006

Graham_Devon wrote: »

And in the UK, with the average salary at £26k and hthe average house at 162k, it's 6.2x average wages

As with so many of your posts Graham, they are simply unsubstantiated rubbish.

The true figure, according to the layest affordability statistics from the Halifax are just in excess of 4 times earings: http://www.lloydsbankinggroup.com/media1/research/halifax_hpi.asp

Please check your facts in future, before posting

:rolleyes:

Graham_Devon wrote: »

Oh dear.

nollag2006

Graham_Devon wrote: »

It's just one single indicator.

Taxes are another, costs of living are another. All I know is the people I do know who moved out to Australia are much much happier and have a much higher standard of life there. It's my ex boss's son. She's looking to move out there now in 2 year also.

She does have another son here, so shes stuck between the two, but has pretty much chosen Aus as the better place to spend their retirement.

Hey !! That's great for them

If they have your wit and intelligence, their emigration could serve to raise the average IQ of both Aus and the UK

:T

If it's so good - why not join them?

Graham_Devon

nollag2006 wrote: »

As with so many of your posts Graham, they are simply unsubstantiated rubbish.

The true figure, according to the layest affordability statistics from the Halifax are just in excess of 4 times earings: http://www.lloydsbankinggroup.com/media1/research/halifax_hpi.asp

Please check your facts in future, before posting

:rolleyes:

That's the average of those able to afford mortgages.

Slightly different to the average wage of the country.

BTW, I'm not bothering to respond to the lame insults. So you may aswell quit them.

HAMISH_MCTAVISH

Graham_Devon wrote: »

All I know is the people I do know who moved out to Australia are much much happier and have a much higher standard of life there. It's my ex boss's son. She's looking to move out there now in 2 year also.

She does have another son here, so shes stuck between the two, but has pretty much chosen Aus as the better place to spend their retirement.

I have family in Aus, and we visit regularly.

The wildlife is lethal, the house prices are higher, the pay isn't as good (in my field anyway), the political correctness has gone mad, the speed laws are draconian, and the cost of living has gone through the roof. More expensive than here now, IMO.

If you like the outdoors lifestyle, it's great. I haven't ruled out retiring there. I quite like Australians. But it's certainly no better in terms of quality of life, unless the weather and outdoors activities are that important to you.

nollag2006

Graham_Devon wrote: »

BTW, I'm not bothering to respond to the lame insults.

Why not? You are pretty good at dishing them out

Sometimes the truth hurts.

Graham_Devon

I've said previously, you wouldn't catch me living in a place where you can get killed while having a relaxing slash as a spider has decided to make your throne it's own home.