Buying a house is a desire many of us have, but it’s getting increasingly more difficult due to the rising cost of property prices – with one swanky pad having been branded ‘ridiculous’
A “Mission Impossible”-style townhouse with a hefty price tag has been branded “ridiculous” after a full tour of its layout and special features was unveiled online. House prices are notoriously high, with countless people struggling to get their foot on the property ladder in recent years.
Many people dream of owning their own home, but it’s much tougher to make this dream come true nowadays, with sky rocketing prices reported all over the world. Many people scour social media to look at available houses on the market, with more and more estate agents showcasing their properties with full video tours posted online to the masses.
One swanky townhouse, based in Melbourne in Victoria, Australia, has been heavily scrutinised over its $1million AUD (£490,595) price tag, but some people are adamant it’s worth every penny.
Real estate agent and auctioneer Matt Coombs shared a video tour of the property – which is narrow but deep and spans three floors – on TikTok. There are two double bedrooms, with an expansive balcony to the principal suite.
The third, smaller bedroom is currently utilised as a handy home office, accessed by a “secret” door that first looks to be a bookcase. On the ground floor, there’s a small courtyard garden to the rear. It is recommended those interested offer $900,000-$990,000 AUD to be in with a chance.
In the caption, Coombs penned: “Warehouse flair with a designer touch – think New York loft, but you don’t have to fight for a yellow cab after dinner.
“Soaring ceilings, rotating bookshelves (yes, like Scooby-Doo), and a bathroom with switchable glass that makes shower time feel like Mission Impossible. All just steps from the MCG, Fitzroy Gardens, and enough cafes to satisfy your caffeine addiction.”
In the comments section, people were divided. One TikTok user said: “This has 1 living area, a tiny office and 2 bedrooms for 900k. Ridiculous”.
Another said: “500k used to buy you a mansion” while a third claimed: “So small. Property in Melbourne is a joke.”
A fourth commented: “It’s nice. But it has no soul to it. Just lots of modern gadgets.”
Someone else said: “Nice but every room is tiny and the ceiling on the bottom floor is so low”, while another simply said: “looks like a corridor?”
And another added: “Very nice for a childless person/couple. Ceilings are kind of low in the kitchen but not a deal breaker.”
But others were thoroughly impressed with the house. One person said: “Wow! This house is incredible”.
Another commented: “Oh wow stunning!! I want this bathroom! And that bedroom… actually all of it!!”
Someone else said: “This is beautiful! I’ll take it!”
Another shared their personal experience of the property: “This was my first apartment I lived in Melbs, moving interstate. Incredible building and space. Its renovation is stunnnning”.
Another fan said: “Absolutely stunning property for the design and area, it’s on par for price, let’s be honest”.
Someone else agreed: “I would say this [is] actually very cheap for Richmond. Surprised it’s not in the 1.1 range”.
Here in the UK, property prices are similarly divisive. Research from the House Buyer Bureau reveals a significant decline in UK housing affordability.
Sadly, the income-to-house price ratio has more than doubled over the last 50 years, rising to 8.8 throughout the 2020s so far, compared to 4.1 in the 1970s. This is largely due to house prices increasing at a much faster rate (318%) than average earnings (94%) over this decade.
This then leaves buyers requiring a significantly higher income in order to afford a home compared to previous decades.
