Sydney family with $250k savings unable to buy a house



Sydney family with $250k savings unable to buy a house

Hazal Cairns, her husband and 18-month-old daughter have moved to QLD due to Sydney’s ridiculous property prices. Picture: SuppliedSource:Instagram

Hazal Cairns is “bitter” about the Sydney property market because despite huge sacrifices to save a deposit of $250,000 her family of three are not able to buy a home.

The digital expert and her husband, who works for NRMA, have an 18-month-old daughter and chose to move in with Hazal’s parents to boost their ability to save.

But they have watched as house prices skyrocket and pushed first home buyers like them out of the market.

“We were bitter. We were so mad. We worked our butts off and have always had full time jobs and I worked in the digital space and have also done freelance work on the side and we have been saving for over three years now,” she told news.com.au.

“We don’t shy away from hard work but when you are working so hard and looking at house prices go up and up and up, it makes you bitter. We are just like – its ridiculous, it’s a joke. “Then there are shows like Luxury Listings Sydney on Amazon and there are people worth billions buying property and we are thinking how it this fair?

“Knowing how many people suffered for the last two years, my husband and I don’t want to watch as it’s depressing, it’s infuriating. Why do people have that much money to spend on incredible homes that they barely live in?”

Sydney family with $250k savings unable to buy a house

Hazal wants to give her daughter a better life and more space. Picture: SuppliedSource:Instagram

Sydney family with $250k savings unable to buy a house

A search for a home in Sydney was fruitless for the couple, despite having $250,000. Picture: SuppliedSource:Instagram

The 34-year-old said their property search was out in the Sutherland Shire looking for four bedroom, two bathroom houses that needed some work.

“But houses were going for $1.8 million out near Illawong, which is not even close to the city and the commute to work would mean sitting in traffic for an hour a day there and back, and for $1.8 million that is just ridiculous,” she noted.

“My brother-in-law and his wife were looking around $900,000 for houses in the Sutherland Shire too, and not in Cronulla, but Menai and Illawong and they couldn’t find anything and they were getting really depressed. They would go to auctions and barely get their hand up, so they were already out of market before they could get anywhere.”

Ms Cairns said the soaring prices made it feel like you were working for nothing.

When the pandemic hit and changed the way people could do their jobs, with a greater emphasis on working from home, having a home that wasn’t a shoebox also became important, added Ms Cairns.

So the couple made a drastic decision to leave their family behind in Sydney and move to Brisbane, escaping just before the city was plunged into its latest lockdown.

Ms Cairns’ husband was able to relocate with his job at NRMA, while she has taken on the role of general manager at her sister’s US-based loungewear and bedding company called Oddbird, which grew 800 per cent during the pandemic.

Sydney family with $250k savings unable to buy a house

The couple are looking to buy a property in Brisbane for less money, more room and closer to the city compared to Sydney. Picture: SuppliedSource:Instagram

The couple are looking at four to five bedroom houses 10 minutes from Brisbane city in suburbs like Camp Hill, Cannon Hill and Morningside and can’t believe the difference compared to their Sydney search.

“These houses are gorgeous. They are big and roomy and have kitchens with walk in pantries and kitchen islands and we are looking at $1.1 million to $1.3 million. So it’s significantly more affordable and offers a greater quality of life, especially if we are going to work from home. We want to be comfortable and create a space that is a working space away from the living space and we don’t have that option in Sydney,” she explained.

“Where would you buy in that price range in Sydney that allows you to have those separate facets of life, to have some calm and stability and a bit of break between the two worlds that now have merged at home.”

Even renting while they look for their forever home is a huge difference to the tiny apartment with a mould problem they had in Sydney before moving in with her parents.

They are paying $735 a week in Brisbane for a property with a backyard the size of some people’s homes in Sydney, as well as three bedrooms and two bathrooms, said Ms Cairns.

“We don’t need to take the dog to the park we just throw ball up and down in the backyard, there’s a two storey garage and that has a mezzanine area, and it's so big we don’t have enough furniture to fill it,” she said.

“For $735 you just would never get that in Sydney and it’s 10 minutes from the city, so it’s significantly different.”

Sydney family with $250k savings unable to buy a house

The family are excited for a fresh start. Picture: SuppliedSource:Instagram

Despite missing friends and family, Ms Cairns said the family is excited about the fresh start and the potential for a better quality of life with a bigger house and more space.

“I’m quite bitter about Sydney and feel quite jaded … It shouldn’t allowed to be that expensive and (the government) are pretty much knowingly saying that first home buyers can’t get into market and I don’t understand what’s supposed to happen – it seems like a real joke,” she added.

With plans to launch Oddbird in Australia, including a retail store and warehouse space, this has also been a financial win, with prices much more affordable in Brisbane, she said.

Sydney’s housing affordability has definitely become worse and it’s a continuing trend, according to Dr Shane Geha, managing director at property group EG Advisory.

“Real estate prices have outstripped wage growth by a very long way in the last decade. If you look at housing, I’m 52 but when I was a child of 13 or 15, it was three times the average wage earnings and today it’s close to 12 or 13 times,” he noted.

“In Sydney, the average house is around $1.3 million, the average apartment is at $800,000, and there are a multiplicity of fees and charges charged by local and state governments. Fees and charges account for around 30 per cent of the price of a new dwelling and it increases the price of new dwellings and lifts the price of alternatives, such as an existing dwelling.”

Sydney family with $250k savings unable to buy a house

Dr Shane Geha, managing director at property group EG Advisory said housing affordability was getting increasingly worse in Sydney. Picture: SuppliedSource:Supplied

Taxes in particular are an enormous cost, he added, giving the example of an $800,000 brand new apartment in Epping attracting $240,000 in fees and charges.

He argued that land taxes and stamp duty bring no immediate benefit to home buyers and should be abolished.

Dr Geha predicted that housing will continue to climb in value by 10 to 15 per cent and that federal grants like the First Home Buyers scheme should be doubled to at least $50,000 to reflect the reality of prices.

Continue the conversation | sarah.sharples@news.com.au

News Related

OTHER NEWS

NSW COVID inquiry to focus on west Sydney

A NSW parliamentary inquiry into the state’s Delta coronavirus outbreak will resume as more regional areas toggle in and out of lockdown. © Bianca De Marchi/AAP PHOTOS Twelve people have ... Read more »

Four arrested at Rookwood Cemetery as Western Sydney leader calls for fairer approach to funerals

© Provided by ABC News NSW Police say that a number of officers went to Rookwood Cemetery after reports of breaches to the health orders. (Supplied) Community members are calling ... Read more »

Mayor's clever trick to stop people cutting down trees for water view

It’s a long-time Sydney underbelly thing. With the city perched on the rises and drops of sandstone and guttered by harbour and sea, it offers a rich topography that presents ... Read more »

NSW records 1,351 COVID-19 cases and 12 deaths; Lismore and Albury LGAs go back into lockdown

© (ABC News: Rani Hayman) Authorities on site at the Redfern social housing site this morning. Large parts of regional NSW have come out of lockdown today but some will ... Read more »

NSW records 1,351 COVID-19 cases and 12 deaths

© 2021 Getty Images NSW records 1,351 COVID-19 cases and 12 deaths (Photo by Matt Roberts/Getty Images) NSW recorded 1,351 new locally acquired COVID-19 infections in the 24 hours to ... Read more »

Sydney news: COVID outbreak in Redfern social housing towers

© Provided by ABC Business A COVID testing clinic has been set up at Redfern’s public housing blocks. (Supplied) Here’s what you need to know this morning. COVID cluster at Redfern ... Read more »

Sydney NFT business Immutable raises another $82 million in Series B round

Sydney NFT company Immutable has raised $82 million in a Series B funding round, taking its total funding to $105 million. © Stockhead Australia Immutable The capital raising was co-led ... Read more »

Anxious wait on Queensland border as Sydney curfew lifted

© Getty The NSW-Queensland border bubble could be under threat after a school student tested positive to COVID-19. New South Wales border residents are on tenterhooks today after a school ... Read more »

Hotspots urged to aim for higher vax rates

Residents in the coronavirus hotspot areas of southwest and western Sydney are being urged to come out in even greater numbers to be vaccinated, as a curfew on the area ... Read more »

Six bedroom mansion with a glass boat shed for sale in Western Sydney

© Provided by Daily Mail MailOnline logo A luxurious six bedroom mansion that features a huge glass-walled boat shed despite being no where near the water is up for grabs ... Read more »

Sydney could be freed from lockdown a week earlier due to vaccinations

© Provided by Daily Mail MailOnline logo Millions of locked down Sydneysiders could be freed a week earlier than planned if surging vaccination rates continue to climb. Freedom Day is expected ... Read more »

Mum turned away from vaccination hub because she was carrying her baby

© Provided by Daily Mail MailOnline logo A mother who spent half the day waiting at a Sydney vaccination clinic walked away without a jab after being told she couldn’t ... Read more »

Sydney lockdown a 'tale of two cities'

Sydney’s lockdown has been “a tale of two cities”, an economic summit has heard, with people in its west suffering the most and being supported the least. © Dan Himbrechts/AAP ... Read more »

NSW records 1,259 new COVID-19 cases as state hits 80 per cent single dose vaccination target

NSW has become Australia’s first state to vaccinate 80 per cent of people aged over 16 with at least one COVID-19 jab, prompting a surprise easing of restrictions in some ... Read more »

Sex crime in Sydney airport cafe: police

A Sydney Airport cafe worker was twice sexually touched by a 73-year-old man in her place of work, police say. © Dan Himbrechts/AAP PHOTOS A man in his 70s allegedly ... Read more »

NSW records 1259 new cases, 12 deaths

© 2021 Getty Images NSW has recorded 1259 new cases of coronavirus and 12 further deaths, a jump in infections from yesterday. However, the curfew in high-risk Sydney LGAs will ... Read more »

COVID live updates: Ballarat goes into lockdown as Shepparton emerges, Sydney curfews end

Victorian Premier Daniel Andrews has confirmed the regional centre of Ballarat will enter lockdown at 11:59pm tonight, as the lockdown in Shepparton ends. Meanwhile in NSW, Gladys Berejiklian has announced ... Read more »

Photographer finds 'Jurassic Park' in Sydney

© Provided by Daily Mail MailOnline logo A photographer has shared a video of ‘Australia’s Jurassic Park’ after stumbling across a heavily graffitied dam while exploring his neighbourhood.  Andrew, who ... Read more »

Sydney hotspot mayor in 'disagreements' with NSW Premier over easing tough lockdown

© Getty There was a meeting between Berejiklian and 12 Sydney mayors yesterday. The mayor of a coronavirus hotspot in south-western Sydney said there “were disagreements” during a video conference ... Read more »

Iconic Sydney restaurant Golden Century set to be rescued from closure

A rescue plan to save beloved Sydney Chinese restaurant Golden Century from administration has been approved. The dining favourite could soon reopen after creditors voted to accept a rescue plan ... Read more »

COVID live updates: Sydney nursing home Newmarch House on alert after doctor tests positive

A nursing home in Sydney’s west, at the centre of a deadly COVID-19 outbreak last year, is again on high alert. A visiting GP to Newmarch House tested positive for the virus ... Read more »

Pharmacist overwhelmed with COVID vaccine bookings, as parents describe 'nightmare' process

© Provided by ABC Health A Newcastle pharmacist is urging local families to be patient as they desperately try to book their children in for COVID vaccinations. In addition to ... Read more »

Man allegedly assaulted in 'road rage' incident at COVID-19 testing clinic

© Getty A medical officer directs traffic and pedestrians waiting to enter the Ashfield Covid walk and drive-through testing clinic in Sydney’s inner-west earlier this year. A man has suffered ... Read more »

Western Sydney nursing home in lockdown as NSW reaches major vaccine milestone

A western Sydney aged care home where 19 residents died from coronavirus in the peak of the outbreak last year is in lockdown this morning after a fresh scare. Newmarch ... Read more »

Maitland hospital set to open in January with moving process to commence 'before Christmas'

© Provided by ABC Health Maitland’s new $470 million dollar hospital at Metford is on track to open in January 2022, with planning for the transfer of patients and staff ... Read more »

Sydney news: Fugitive back behind bars after 30 years on the run; fresh Newmarch COVID-19 scare

© Provided by ABC Health The man escaped Grafton Correctional Centre by hacking through the bars on his cell window. (ABC North Coast: Samantha Turnbull) Here’s what you need to ... Read more »

Hawaiian Airlines resumes flights to Sydney and Brisbane in December

© Provided by Daily Mail MailOnline logo Hawaiian Airlines is poised to resume flights to Australia – after an 18 month absence due to Covid-19. Flights will restart to Sydney ... Read more »

Dave Layzell pleads for Upper Hunter residents to be released from lockdown

© Provided by ABC NEWS It was a hard-fought win, says Deputy Premier John Barilaro (left), of David Layzell’s Upper Hunter victory. (ABC News: Andrew Whitington ) Upper Hunter MP Dave Layzell ... Read more »

NSW records 1,127 COVID-19 cases, two deaths

© ABC A spike in cases in Sydney’s inner west suburbs prompted the government to set-up pop-up vaccination clinics across the region. NSW recorded 1,127 new locally acquired COVID-19 infections ... Read more »

NSW records 1127 new local COVID-19 cases

NSW has reported 1127 new locally acquired cases of COVID-19 and two deaths, including a man in his 50s and a woman in her 80s. © Dan Himbrechts/AAP PHOTOS NSW’s ... Read more »

Woman, 81, allegedly defrauded of $25,000 in law enforcement scam

A Sydney man is facing multiple fraud charges, accused of cheating an 81-year-old lady out of $25,000. The 36-year-old was arrested after the woman visited a bank in the south-west ... Read more »

Affluent Sydney suburbs on the brink of mortgage defaults

© Nine Modelling by Digital Finance Analytics (DFA) exclusively for 9News shows one in 11 mortgage holders in Dover Heights is at risk of defaulting. They’re the unexpected suburbs on ... Read more »

Widow awaiting sentence for murder of boyfriend facing new charges

© 9News Natasha Beth Darcy is facing fresh charges as she awaits sentencing for murdering her partner Mathew Dunbar. The woman who killed Walcha farmer Mathew Dunbar in order to ... Read more »

Man charged with assaulting three Sydney police officers

© Getty The two women, both from the Transport Command, were taken to Bankstown Hospital for treatment. Three police officers are in hospital after allegedly being kicked and punched in ... Read more »

Mother tells court of tummy tuck gone bad

© Joel Carrett/AAP PHOTOS Brendan Russell allegedly left a woman bleeding heavily and writhing in pain after a tummy tuck. As her two kids got haircuts in a shopping centre ... Read more »

Yass going back into lockdown for two weeks just days after freedom

© Getty Images/iStockphoto Yass Valley is going back into lockdown for another two weeks. The Yass Valley Council area in regional NSW is going back into lockdown for two weeks ... Read more »

Removalists plead guilty after sparking COVID-19 scare in regional NSW

© 9News Removalists Ramsin Adil and Roni Shawka (pictured) and Maryo Shanki have pleaded guilty to breaching coronavirus restrictions. Three Sydney removalists who travelled to regional NSW despite one being ... Read more »

Sydney DV murder accused 'unfit' for trial

A western Sydney man has been found mentally unfit to stand trial for his wife’s murder, amid signs of delusional beliefs including that she “may have been a duplicate”. © ... Read more »

Bankstown mayor DEFENDS beachgoers who crowded onto Sydney beaches

© Provided by Daily Mail MailOnline logo A western Sydney mayor has defended the thousands of beachgoers who flocked to the water over the weekend – but hit out at ... Read more »