Expensive addresses.

My parents are now both over eighty. They are very independent and live in a leafy suburb north of Sydney. Theirs is a four bedroom house on a double block of land. They are keen gardeners but with the current water restrictions in Sydney they can only water their beloved garden twice a week with a hand held hose. My brother lives 8 hours drive north of them and my sister lives in England. That makes me their closest child and in their senior years, they are wondering (somewhat reluctantly) whether it is time to sell up and move to Newcastle. This would be a relief for me - my busy lifestyle precludes regular visits to Sydney, I am familiar with our Hunter health system and doctors and I could assure them of good care up here should they need it. The problem is finding a house or apartment that they like.....

For many years Sydney people have viewed Newcastle as the poor relation. My family was aware of some of the many beautiful parts of the city but they mistakenly believed that when the time came for them to move they would sell their Sydney house for a large sum of money and be able to afford a large penthouse with view of the water and have money left over. Unfortunately, they have left it too late to invest in a cheaper property with water views. The view seen in this photo will set you back anything from $1 to $3.2million Australian dollars depending on the size of the property. Given the weak Australian dollar compared to the US dollar, Euro and pound, this may not be as bad as it sounds, but it is way out of the price range of all but a few Australians. If you wish to settle for a house with no water views prices can range from $300,000 to $900,000 (for a grand house). Sydney prices are far worse.

Let me know about the property prices where you live? Are they out of the average person's price range or affordable?

Comments

[Tvindy]

Well, here in the US housing is very expensive. The only reason I'm a homeowner is because I have a thirty-year mortgage on a rundown house in a bad neighborhood of a bad city.