‘Not funny anymore’: Real estate mailout reveals big issue with Sydney in 2024
A mailout from a real estate agency has left an Aussie teen exasperated, with the 19-year-old saying the situation facing Sydney is “not funny anymore”.
A young Aussie has been left stunned by the state of Sydney’s housing crisis, with a real estate pamphlet showing just how dire the situation is for people looking to break into the property market.
Matt Van Biljon recently took to TikTok to express his shock at some of the house prices being seen in suburbs that are, in some cases, more than an hour from the CBD.
“Sydney has got such a problem, it’s not even funny anymore,” he said.
“Look at what I just received in the mail, these are properties sold in October. Look at these numbers.
“Keep in mind, we are looking about an hour outside of the Sydney CBD.”
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A glance at the pamphlet showed the majority of homes included sold for well over the $1 million mark.
A home in Box Hill, 48km south west of the CBD, sold for more than $1.5 million.
In Angus, 51km north west of the CBD, a single storey home sold for $1.6 million.
Another shows a single storey home in Blacktown, about 34km west of the CBD, that sold for $1.4 million.
Sydney’s median house price recently hit the a record of $1.65m.
“How am I supposed to move out? How am I supposed to buy a house?” Matt asked.
The 19-year-old is currently living with his parents in the greater western Sydney area and he is concerned about what house prices are going to look like when he is ready to buy his own home.
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“If I am ready to buy a house, even at 30, looking at the trajectory, I am going to be buying a carbon copy house, in a suburb that’s 50C and two hours out of the city,” he told news.com.au, adding that he won’t be able to afford to stay near his family in the area where he has grown up.
Matt said his parents have expressed their desire for him to stay close, but he said that possibly is looking increasingly unlikely.
“What am I supposed to do? If I can’t move out around here then I am definitely going to have to look elsewhere.”
Matt also added that it was “crazy” seeing all the development the change that has happened in the Greater Western Sydney area in recent years.
Areas that used to be full of properties with decent sized land have been replaced with new builds that sit right next to each other.
The video quickly gained hundreds of comments, with fellow young people sharing their own frustrations with the current state of house prices in Australia.
“I remember thinking a million would get you a mansion as a kid,” one person said.
Another said they had “given up on the idea of buying a property in Sydney” and are instead looking to move up the coast while it is “still somewhat affordable”.
those houses were 400k maybe 10 years ago
One added: “My area average is 2.2 million, there’s no way new buyers can afford it without a partner, it’s crazy.”
Older Aussies were also shocked at how quickly prices had risen.
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“These are crazy prices! I bought my first house 2006 in St Mary’s for $260k now it’s worth $1.1 million! It’s still a fibro house and a below average suburb! I feel sorry for the younger generations,” one person wrote.
Another added: “It’s insane. I’m not far by there and managed to buy 3 years ago. House has gone up by 1/3rd of what I paid for it. It’s not sustainable and first home buyers have no chance.”