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Comparing Apples with Pineapples
Dec. 3rd, 2024 12:11 pmThere is much talk today about how it is so much harder for young people to get into a home than it was for baby boomers. I totally agree.
But what I don’t agree with is the comparison that is made between the length of time it takes to save a deposit on an average salary to buy a median priced house.
The reason I don’t agree with the comparison lies in the notion of the median priced house.
When I was young, the average new house that a young couple aspired to purchase, consisted of a kitchen with a built in stove or hotplates and under bench oven. There was room for a refrigerator but there were no other whitegoods included.
There might be a dining room or area and a lounge room.
The main bedroom was really good if it included a built in wardrobe. The idea of an ensuite was only just becoming a “thing” so no, it was not on the list of “Things that need to be included”.
Two other bedrooms were expected and one did not expect them to have built in wardrobes.
There would be a bathroom and toilet and the laundry would be basically a wide hallway leading to the backdoor with a built in laundry sink and room for a washing machine.
Some sort of heater was expected in the lounge room. When I was young, oil heaters were the “in thing”.
Construction was brick veneer and there was no insulation. There would be tiles on the floor of the bathroom, toilet and laundry. The remainder would be floorboards or a concrete slab.
There would be a hot water service, probably either gas or electric. Solar hot water was not yet standard. The up to date hot water service was “off peak.”
There might be a carport. Some were lucky enough to be able to afford a built in garage but that was not quite the norm. Rooves were tiled.
There were no blinds on windows. Lighting consisted of bare bulbs in each room.
Young people had to be prepared to pay for floor coverings when they first moved in or do what we did, and get the floor boards painted with Estapol. Windows were covered with sheets until we could afford blinds. Usually you would save up to install lounge room and main bedroom curtains first or you would sew them yourself or get a friend or relative to help.
It would be interesting to compare how much such a house would cost in todays market. Then the calculation of how long it would take today to save a deposit for that, would make more sense.
Of course building regulations would not permit that sort of house to be built today so the question remains hypothetical - of interest only.
But what I don’t agree with is the comparison that is made between the length of time it takes to save a deposit on an average salary to buy a median priced house.
The reason I don’t agree with the comparison lies in the notion of the median priced house.
When I was young, the average new house that a young couple aspired to purchase, consisted of a kitchen with a built in stove or hotplates and under bench oven. There was room for a refrigerator but there were no other whitegoods included.
There might be a dining room or area and a lounge room.
The main bedroom was really good if it included a built in wardrobe. The idea of an ensuite was only just becoming a “thing” so no, it was not on the list of “Things that need to be included”.
Two other bedrooms were expected and one did not expect them to have built in wardrobes.
There would be a bathroom and toilet and the laundry would be basically a wide hallway leading to the backdoor with a built in laundry sink and room for a washing machine.
Some sort of heater was expected in the lounge room. When I was young, oil heaters were the “in thing”.
Construction was brick veneer and there was no insulation. There would be tiles on the floor of the bathroom, toilet and laundry. The remainder would be floorboards or a concrete slab.
There would be a hot water service, probably either gas or electric. Solar hot water was not yet standard. The up to date hot water service was “off peak.”
There might be a carport. Some were lucky enough to be able to afford a built in garage but that was not quite the norm. Rooves were tiled.
There were no blinds on windows. Lighting consisted of bare bulbs in each room.
Young people had to be prepared to pay for floor coverings when they first moved in or do what we did, and get the floor boards painted with Estapol. Windows were covered with sheets until we could afford blinds. Usually you would save up to install lounge room and main bedroom curtains first or you would sew them yourself or get a friend or relative to help.
It would be interesting to compare how much such a house would cost in todays market. Then the calculation of how long it would take today to save a deposit for that, would make more sense.
Of course building regulations would not permit that sort of house to be built today so the question remains hypothetical - of interest only.
