‘Privileged’ mum-of-three’s house rant backfires after she complains house appreciates too much

A Sydney homeowner has been widely mocked after complaining that her multimillion-dollar property has significantly increased in value.

The Sydney housing market is known to be difficult to break into.

A “privileged” Sydney mother has been widely mocked after complaining that her multimillion-dollar property had increased in value by $1 million over the last six years.

The woman took to Reddit to share her unusual problem writing that she and her husband purchased a $2 million dollar property six years ago, but last week a neighbour sold a similar home for $3 million.

While most homewowners would see that as a reason to celebrate as it indicates her property would be worth a similar amount, this mum was unusually downcast, speculating it would mean that she is “$2 million worse off” because it would cost her three children an “extra $1 million to buy a home”.

The mother has been mocked for complaining that her house has increased in value. Picture: Picture: Getty Images

But many were not sympathetic to the mother’s plight.

“Oh my heart bleeds," one person wrote sarcastically. “But why do your kids need multi-million dollar homes?

Another labelled the post a “humble brag and very sad”.

“I’ll buy your $3m home for $500k?,” a third quipped. “This way you’ll be helping these young people out you’re worried about... not a doctor or lawyer if it helps my application.”

However, the woman insisted she wasn’t bragging but simply concerned about the next generation.

“Like a million other people of my generation, I bought a normal house in a normal street 20 years ago, nothing special, and prices have risen since, it’s not news to anyone,” she said.

“I have never been excited about the value of my house going up because I’ve always known it just meant things would be harder for my kids and all other younger people.

The woman explained she considered herself “lucky” to be able to buy a house on an “average salary when they were affordable”.

The average house price in Sydney is now over a million dollars.

The Sydney housing market is known to be notoriously difficult for first home owners to break into.

The average home in Sydney now sets buyers back on average $1,056,000, a whopping 29.7 per cent higher than March 2020.

Despite the soaring success of Sydney’s property market, those figures are still down 1.29 per cent from their peak recorded in February 2022.

The situation is only going to get worse for first home buys with the the Reserve Bank of Australia (RBA) increasing the official cash rate to 4.35 per cent today, delivering fresh cost of living pain to Aussies ahead of Christmas.

The rise, which is expected to be passed on in full by the major banks, will add $15 to repayments for every $100,000 borrowed for those with a variable home loan.

Speaking following the decision, RBA governor Michele Bullock said: “Inflation in Australia has passed its peak but is still too high and is proving more persistent than expected a few months ago. “ “The latest reading on CPI inflation indicates that while goods price inflation has eased further, the prices of many services are continuing to rise briskly.”

-with Michelle Bowes