Is housing in Australia really too expensive?

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Australia has been recognized as one of the best immigration destinations in the world for a long time.

Yep, everything’s wonderful here, the beautiful scenery, clean environment,  friendly people, well-built infrastructure…They all make me jealous, for I just escaped from my motherland, China, currently one of the most populated and polluted country in this world.

I thought most Australians should be happy about this situation, until one day I heard  on the tram that a young man complained to his girlfriend about the rising housing price.

“Hey, the agent just told me the price of the house we went to last week in Reservoir has increased by 10% to $400k,” he said. “Fucking foreign investors, i have to ask my parents for money…”

Their conversation went on like that, all about how expensive the houses are, and how he could not afford a house.

Well, in my point of view, the housing price here in Melbourne is expensive, but not as expensive as he said.

The average price for houses sold by auction in Sydney was $1.08 million, while in Melbourne this figure was $810,000, according to the Property Observer,  http://www.propertyobserver.com.au/finding/location/nsw/29170-sydney-auction-clearance-rates-continue-to-soar-while-melbourne-flattens.html.

These figures seems indeed very high, but take a second though: there prices are all about houses, what about apartments?

Take a quick search on realestates.com.au, you will find plenty of apartments priced around 200 to 300K in Melbourne, and in suburbs this price can even get you a small house around  100m².

Actually Melbourne’s average house price is about the same in Beijing, which is approximately AUD$6000 per square meter in 2013. But the income of an average Beijinger is AUD10,000 in 2013, they have to save every cent in order to pay their loan.

Oh, one more thing. Australian house owners have permanent ownership to their house and land, but the Chinese can only keep it for 70 years. After 70 years, the government will take it back.