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Million-dollar listing stars SHOCKED by ‘terrible’ Australian property prices


The powerful real estate agents behind the US reality TV show Million Dollar Listing: Los Angeles have revealed their shock on Australian property prices, questioning how ‘anyone can’ can afford to live’.

Brothers Josh and Matt Altman arrived in Sydney this week for an exclusive property conference and speaking tour, and they appeared on The Morning Show on Friday to discuss their time. in water.

Speaking to hosts Larry Emdur and Kylie Gillies, the brothers said ‘terrible’ prices in Sydney make them want to buy more properties in LA.

Million Dollar Listing stars Josh and Matt Altman say Sydney property prices are 'astronomical' during an appearance on Channel Seven's The Morning Show on Friday

Million Dollar Listing stars Josh and Matt Altman say Sydney property prices are 'astronomical' during an appearance on Channel Seven's The Morning Show on Friday

Million Dollar Listing stars Josh and Matt Altman say Sydney property prices are ‘astronomical’ during an appearance on Channel Seven’s The Morning Show on Friday

Josh said: ‘One thing that I’ve been amazed at is how expensive real estate in Australia is in your short time here.

‘I just want to know how people can afford these types of homes. They are astronomy! ‘

He added: ‘The price makes me feel great about real estate in Los Angeles. I am looking to buy again right now. ‘

Speaking to hosts Larry Emdur and Kylie Gillies, the brothers said Sydney prices 'make them grateful for LA real estate'

Speaking to hosts Larry Emdur and Kylie Gillies, the brothers said Sydney prices 'make them grateful for LA real estate'

Speaking to hosts Larry Emdur and Kylie Gillies, the brothers said Sydney prices ‘make them grateful for LA real estate’

Host Larry joked that Australians could get a ‘500-year mortgage’, before Josh and Larry explained how they liked Australians’ interest in real estate.

“We went around the water yesterday looking at some properties because we are clearly obsessed with real estate, no matter what country we are in,” said Josh. Josh said.

‘We have to look at great homes and good real estate. Australians are just as obsessed as we are, which I love. And you guys have great real estate, but the prices are…’ he added, before closing.

The brothers are partners with US company The Altman Team and boast an estimated US$5 billion (AU$7.4 billion) in property sales.  Pictured is Josh

The brothers are partners with US company The Altman Team and boast an estimated US$5 billion (AU$7.4 billion) in property sales.  Pictured is Josh

The brothers are partners with US company The Altman Team and boast an estimated US$5 billion (AU$7.4 billion) in property sales. Pictured is Josh

The brothers are partners with US company The Altman Team and boast an estimated US$5 billion (AU$7.4 billion) in property sales.

Matt and Josh will be guests next week in Melbourne on September 12.

They will also speak at Glenn Twiddle’s Million Dollar Estate Agents Summit in Brisbane.

The talks will also feature co-star Josh Flagg in Los Angeles.

The show, now in its 14th season, is viewed on the Bravo cable network in the United States and is available to stream on Hayu in Australia.

A house in Turramurra, Sydney.  Sydney is now the second most affordable city in the world to buy a home

A house in Turramurra, Sydney.  Sydney is now the second most affordable city in the world to buy a home

A house in Turramurra, Sydney. Sydney is now the second most affordable city in the world to buy a home

Sydney is the world’s second hardest city to buy a home in and Melbourne is fifth worst, driven by high demand due to low interest rates and dangerous debt levels.

All five capitals of Australia’s mainland state are among the 20 most expensive capitals in the world, with Adelaide 14th, Brisbane 17th and Perth 20th, according to the International Housing Affordability survey by Demographia.

Four of the five cheapest cities to buy real estate are in the US

First home buyers in Australia need more than 10 years just to save a 20% down payment to own a home, underscoring declining housing affordability.

A recent ANZ CoreLogic Housing Affordability report from March estimated that based on households saving 15% of their gross annual income, it would take a record 10.8 years to save a year. deposit for a house and nine years for an apartment.

“All five major Australian housing markets have been severely insolvent since the early 2000s,” the report said.

The five most expensive and cheapest house prices in the world

The most expensive cities in the world to get the wealth ladder:

1 Hong Kong, Chinawith a debt-to-income ratio of 23.2

2 Sydney, Australiawith a debt-to-income ratio of 15.3

3 Vancouver, Canadawith a debt-to-income ratio of 13.3

4 San Jose, USAwith a debt-to-income ratio of 12.6

5 Melbourne, Australiawith a debt-to-income ratio of 12.1

Cheapest cities in the world to get the property ladder:

1 Pittsburgh, USAwith a debt-to-income ratio of 2.7

= 2 Oklahoma City, USAwith a debt-to-income ratio of 3.3

= 2 Rochester, USAwith a debt-to-income ratio of 3.3

= 4 St. Louis, USAwith a debt-to-income ratio of 3.6

= 4 Edmonton, Canadawith a debt-to-income ratio of 3.6

Source: Demographia

Source: | Dailymail.co.uk




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