Londoners considering buying Australian property warned it’s not always sunny Down Under

Jonathan ChancellorFeb 16, 2012

Londoners thinking of buying in Australia have been advised to “rent for a month in the Australian winter (August) before you take the plunge”.

The Telegraph has warned its readers that “it isn’t always hot and sunny”.

Australia is the UK’s top destination for moving abroad, and writer Jan Etherington is apparently sorely tempted to join the exodus after her son and his girlfriend moved to Australia six years ago and stayed.

“Since then they have married, had two daughters and settled half an hour away from Sydney’s glorious harbour bridge – albeit the home is a bit of a squeeze.

“As we sit on Bondi Beach, I hear myself say, ‘This is exactly how we like to live. Why are we going back to Britain?’”

Jan Etherington, the British writer and producer came to prominence as creator and writer of Second Thoughts along with her husband Gavin Petrie.

She’s recently also been weighing up “the possible downsides of a move to this beguiling distant land.”

Her writing credits also include Next of Kin, Faith in the Future and Duck Patrol.

“Most people think of Australia as a year-round sun-kissed paradise.

“It’s not the case. Australian summers can be fiercely (and wonderfully) hot, but winters as dull and grey as Britain,” she says.

“And there’s no real spring or autumn, which friends insist we would miss.”

She’s given thoughts to contributing to the family’s Australian property pot, so that they all can buy a house with extra room for everyone.

Etherington’s Richmond house is for sale for £1.39 million through John D Wood.

Her no-worries guide to buying in Oz

1. Buyers from abroad must obtain consent from the Foreign Investment Review Board (firb.gov.au).

2. Foreign non-residents can only buy new properties subject to approval. To buy an established home you need a temporary resident’s visa of at least 12 months.

3. Where to buy Sydney’s bigger beaches, such as Bondi and family-friendly Coogee are ringed by smart new apartments. They all face the Pacific and are priced from around £900,000. You’ll get more for your money by going south. Kingsford and Randwick are walking distance from Coogee. A one-bedroom apartment starts from £275,000.

4. If you want an older property, take a look at the ornate Federation houses, built just before the First World War. These are Australian versions of the English Edwardian home. Following the Second World War bungalows sprang up – plainer, but still pretty.

5. View potential properties online at domain.com.au.

6. Consider a buying agent such as Stuart Jones (roseandjones.com.au), who advises property guru Phil Spencer. The charge is around £10,000 to £15,000 on a £700,000 home, but a good buying agent is worth the money.

7. Find out if you’re eligible for an Australian retirement visa (visabureau.com/australia). This lasts for four years. You must be 55-plus and have private health insurance.

8. New apartments include 10 per cent GST (equivalent to VAT) in the sale price. There is no GST on older properties. Buyers also pay stamp duty – allow five per cent of the purchase price. Visit britzinoz.com.

9. Rent for a month in the Australian winter (August) before you take the plunge. It isn’t always hot and sunny.

 

 

 

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.