Auction will only work when the market is very strong (like 18 mths ago) because you don't really know how much people are willing to pay unless you test them out (by auction). Now the market is dropping and sellers still hope to get a decent price because there are still some bullish people around who thinks that it is only short term and market will rebound. What happens is as soon as there is a decent offer, they accept the offer and pull the property out of the market. This is what is happening now. When the market gets really weak, you would never opt for auction but instead put a For Sale (with a price on it) and hopefully you get someone who will make you an offer (close to your price). To put a property for auction cost a little bit more because you have to engage an auctioneer and also book a place to host the auction.

There are a lot of tricks that real estate agent uses to 'con' a buyer to pay a higher price but these kind of things you will slowly learn as you buy and sell properties more often. My sister sold a property about 10 years ago and i was bidding against a 'sucker' who didn't realise that i wasn't a serious buyer and that i was just 'making the market' so that the buyer will have to fork out a lot more for the property. If the bidding doesn't reach the price that we want, we just pass the property in and put a For Sale (with a price on it). There are many tricks that sellers use to obtain a higher price so if you are inexperienced, it is better to learn from the more experienced people. A lot of new migrants don't know there are so many crafty real estate agents and learn a painful lesson by paying too much!!

The reason why prices kept going up was because the banks were dishing out money freely. After the royal commission, they have tightened borrowing standards and now it is very difficult to get 'interest-free' housing loans. Banks were giving these 'interest-free' loans to a high percentage of their borrowers who were using this to speculate. These interest free loans were renewable loans with 3 to 5 year expiry. Speculators felt this boom will never stop - looks like this time, speculators are in for a big shock. According to a friend who i had dinner last night, banks have stopped lending to SMSF (self-managed superfunds) as well so it appears that it is very difficult to get funds to speculate on housing.

Usually housing price growth is highly correlated to housing credit. With credit (lending) tightening, house prices seem to be falling now.

Agree - Perth and Brisbane are better places to buy. Only thing is i don't have friends in those cities. Sydney and Melb probably has a long way to go before it bottoms.

P/s: I prefer Brisbane because it is warmer. I am now very afraid of cold. Brrr......

Yes - i love Surfers Paradise.

575 cannot even buy a run-down 1 bedder where i live. In my area, rents are all dropping. 2-bedder (units) that were $670/wk are now asking $580-600/wk. Rents have never dropped at all in my area. This is the first time (ever since i came here in 1981) that rents have dropped. Maybe an indication of something happening?? There has always been tight supply in Randwick (for rental) but now everywhere i go around here, i see <For Lease> signs.

You mean Malaysian Hall down in Alison Rd? Yes - it is still there. I go past it everyday to and from work. It is very close to where i live. When i go and walk (weekends sometimes), i go past it as well as it is very close to Centennial Park.

I m in a dilemma. Recently invited to apply for a 489 visa (Temporary Resident/TR). Location Adelaide, South Australia. I am now having 2nd thoughts, appreciate feedbacks.

Pros.

^ lifestyle. I like it slow
^ work life balance
^ kids future education fees. Ive got 4. 9 yo, 7, 5 and 3 yo.
^ possibly better social economic and politic climate.

Cons

^ i m in banking and i did some research. I will be paid at best 50% of wat i earn here (after conversion). I still have committments here that requires the income flow to be at current level
^ letting go of a corporate career here
^ aging parents
^ might need to go at it alone first, at least for first 18 months
^ potential change of policy midway through my TR
^ Adelaide.... nuff said.

Appreciate some constructive feedback as i need to decide soon. Thank you

not sure how far you have gone down the education research but the better schools are located in very expensive suburbs in the 2 most expensive cities... plus the richer locals are also going to private schools similar to KL...

although its still miles away to catchup with singapore/japan but the better the results... the more kiasu the people... good luck bro

Poor Australia education ranking prompts soul-searching

In the 1980s, Australia started calling itself "the clever country". Not just a lucky place blessed by minerals, climate and farmland, but a place of innovation and inventiveness, all backed by a sparkling education system.

But an international schools study released this week has fuelled fears that after years of neglect and ill-conceived strategy, the country is steaming towards an education crisis, which could leave future Australians lagging behind the rest of the world.

The quadrennial Trends in International Mathematics and Science Study (TIMSS) shows Australia's ranking in these subjects has tumbled since 1995, to sit below countries like Kazakhstan, Cyprus and Slovenia.

The study, of Year Four and Year Eight students, shows that since the 2011 TIMSS, Australia has dropped from 12th to 17th for both Year Eight maths and science, and from 18th to 28th for Year Four maths. Its rank in Year Four science was unchanged at 25th. TIMSS studied Year Eights from 39 countries, and Year Fours from 49 nations.

Kazakhstan, with a per capita GDP one fifth of Australia's, ranked well below Australia in 2011, but is now between eighth and 12th in the four categories.

The study, not the first to show educational declines here, has sparked alarm, with many calling it a result of Australians not taking education seriously enough. Federal Education Minister Simon Birmingham called the results disappointing, while still managing to make a joke of it.

"I don't want to denigrate Kazakhstan, or indeed their artistic skills with movies like Borat," he said, referring to Sacha Baron Cohen's comedy about a fictional reporter from the country.

"I think, though, Australia should be seeking to be amongst the best in the world and declines like this are unacceptable, and that we need to be working hard to turn it around."

The blame game
Critics say the apparent dumbing-down is Australian society's own making, that too much emphasis on pursuits such as sport, and an outdoorsy culture, has long compromised the regard for academic endeavours like science and maths. Since the Australian of the Year award began in 1960, five have been scientists, while 14 have come from sport.

Some blame teachers while others blame governments for not adequately paying teachers. More, however, blame governments and educationists for policies they say have had predictable results.

In 2001, Australia's most populous state, New South Wales, dropped the requirement for students to study maths or science to graduate from senior high school. Three others among the eight states and territories mirrored that step, while the rest require very minimal study of the two subjects compared with other countries.

"What message does that send to students?" Rachel Wilson, senior lecturer in educational assessment and evaluation at the University of Sydney, told the BBC.

"It's a reflection of Australia not valuing these skills. There's evidence that a lot of students now drop out of maths and science as soon as they can, and that's frightening, because those skills are fundamental in the modern world. Unfortunately in Australia there seems to be a lot of resistance to the realities of the new world."

https://www.bbc.com/news/world-australia-38178763

i only mentioned better and better already comes with a price

hecs is only applicable to citizens only if not mistaken, i heard too many PRs abused that and leave Aussie once they graduate

and that's the real messed up part

I have actually done quite a lot of research into this as i was wondering whether i will still be a tax resident when i retire in Msia next year. Apparently by defn, you need to live here at least half the time (i.e. 183 days/yr) in Aust to be classified as a tax resident. I intend to take all my long service leave on half pay (i have more than 40 weeks LSL which equates to about 90 weeks on half pay). Together with all my annual leave, i will have close to 2 years of leave. I was wondering whether i will still be a tax resident during the 2 years (on leave) when i am in Msia so i checked with my accountant - he tells me that since i have been in the same job with an Aust employer, i will be classified as a tax resident even though i am on leave with no intention of going back.

I have also called up the ATO about my super and was told all my super is tax free once i fully retire (i.e. no more working after 55 years old) even though i live overseas. This is important to me as i want to leave my super as is for a while. Apparently if you are on welfare then you will not be able to retire in Msia and still claim the welfare (like the old age pension). Since my wife and i are self-funded retirees, i am free to live anywhere in the world.

before they increase, i was at 70, required points was 60.

i got grant ITA within 4 months, at the 6-7 months i got the PR.

I started working in 1984. In those days, most working couples could afford to buy a house less than 10 kms from the city. It goes to show how prices have gone beyond the reach of the working population nowadays in Sydney.

I was just looking at the prices of properties in various cities in Aust and it seems Perth and Brisbane are still pretty affordable. The younger working generation will really find it hard to afford a property in Sydney unless prices drop drastically (but this is unlikely to happen unless there is a big recession).

Since you are looking for properties that are further from the city, those suburbs would have dropped a lot more since the peak compared to those nearer the city. I personally prefer suburbs where there are more Asians as i eat out (Asian food) a lot and my wife likes to buy Asian groceries a lot.

I have recently come back from a 6-week holiday in KL and i find eating out in Sydney cost so much more compared to KL. I did a detailed comparison/analysis and eating out in KL cost me about half the Sydney price. I ate out nearly everyday in KL (from cheap to very expensive) and the cost of eating out in Sydney is roughly about 40-70% more than KL - must be something to do with the high min wage in Aust. There are also a lot more choices in KL and food is nearly 24 hours. Only negative thing is the food is slightly oilier in KL.

Wonder if anyone has transferred money back to Msia.

My wife can start accessing her super in early April - does anyone know of any way that i can move about A$250k back to Msia. I have transferred about A$100k back to Msia (via NAB) last year and the exchange rates was really shitty. I know changing at the money changers in Mid-Valley will give me the best rates but i don't want to be lugging so much cash with me.

My wife loves Msia so much she wants to transfer all her Aussies back to Msia against all advice from friends/relative.

I know - i have been telling her to leave it in the superfund as all earnings are tax-free once you have stopped working and over the preservation age (for us our preservation age is 57 as we were born in 1962). She needs about rm350k to settle her investment loan for a property in MK but the rest she doesn't need. However she loves the idea of holding ringgit as she is afraid the Aussie might go down more in future.