It was reported last year that the housing sector has not escaped inflation as the federal government and central bank money have inflated assets and house prices in Australia's biggest market are expected to fall in 2022.

The news means that Aussies are predicted to struggle to secure affordable housing in the first six months of the year.

So, we want to take you, ladies and gents, on a trip down memory lane, reflecting on what houses used to cost in the 90s.

Seeing just how much the prices have increased will shock you.

Reddit user @Turbo_Shrug has shared a couple of pages from a real estate magazine from 1996, showing how much some of the quality homes in Australia used to sell.

The magazine featured houses from each state and some Australian territories — ACT and NT.

Reddit user @Turbo_Shrug shared a couple of pages from the Better Homes and Gardens Magazine January 1996 issue to show how much properties were worth back then. Credit: Reddit/@Turbo_Shrug/Better Homes and Gardens Magazine.​

1. 3 Fuller Street Parkside House, South Australia

Photo of the property in 2020. Credit: Google Maps.​

The house was described as a "Federation-style house on a courtyard block" by its selling agent back in 1996.

Additionally, the house was said to be suitable for busy executives and prospective retirees due to its compact style that did not have many maintenance requirements and location that is only a few kilometres away from the city.

The home — which was built in 1993 — also featured three bedrooms, a living room with en suite and spa, formal sitting and dining rooms, ducted reverse air-conditioning, intercom, and security system.

Reddit user @Ironeagle08 did some research on the property and he found out that the property was sold for $830,000 in 2018 and is currently valued at $1.07 million to $1.43 million — a huge leap from its $235,000 selling price in 1996.

2. 5 Welwyn Avenue, Manning, Western Australia

A photo of the property in March 2021. Credit: Google Maps.​

It was said that this 519 sq/m property achieved a good selling price due to its architect design and location — 8km of the city centre.

The neighbourhood where the house is located used to be a state housing authority area. However, it was transformed into a commercial housing suburb, available for purchase by private buyers.

The home featured four bedrooms, two bathrooms, separate formal areas, a family room, and a galley-style kitchen

Additionally, the selling agent said that the property sold off at a good price because of the extras included in the purchase such as carpets, light fitting, full landscaping with roll-on lawn, and a double garage with an automatic roller door.

The selling price of the house in 1996 was $225,000. But in 2015, the house was sold for $645,000 and is currently valued at about $744,000.

3. 9 Lachlan Drive, Mt Nelson, Tasmania

A photo of the property in June 2015. Credit: Google Maps.​

The double-brick home is situated on a 578 sq/m block in a bushland suburb in Mt Nelson, Tasmania.

The property was said to be good for families as it has five bedrooms, a main bedroom with en suite, formal and informal living areas, an office, and a double garage.

Aside from its amenities, it also captures scenic views from Mt Wellington.

While the property did not sell at a good price in 1996 due to the negative market trend that year, potential buyers noted that the property "offered excellent value".

The house was sold off for $196,000 in 1996. However, the property was reported to be purchased for $820,000 in March 2020 and is currently valued between $970,000 to $1,160,000.

4. 45 Somerset Street, Duffy, Australian Capital Territory

A photo of the property in December 2017. Credit: Google Maps.​

A real estate agent said that the 23-year-old elevated home was sold for the vendor's asking price due to the fact that potential buyers perceived that the property offered a good value.

The house was said to be less expensive compared to the other properties up for sale in the area.

The house has four bedrooms, a bathroom, a kitchen, and a large family room.

The selling agent noted that the home was newly renovated when it was sold, hence, it was sold at a fair price.

For those wondering, the house was sold off for $243,000 in 1996. In 2003, it was sold off for $276,000. Now, it is valued at a whopping price of $1.01 million to $1.59 million.

Some of the best properties in NSW, NT, Victoria, and Queensland that were being sold off in 1996. Credit: Reddit/@Turbo_Shrug/Better Homes and Gardens Magazine.​

5. 10 Speed Avenue, Russell Lea, New South Wales

A photo of the property in May 2021. Credit: Google Maps.​

The selling agent said that the property — which was built in the 1920s — sold incredibly quickly

While the selling agent noted that the house's kitchen and bathroom needed some renovation, the potential buyers saw the value of the home due to its location — it is located in a peaceful street, close to the city centre, and only 200m away from a popular tourist spot — and its low maintenance requirements.

The property was reportedly sold off for $287,000 in 1996.

However, the property's price tag jumped to a whopping $1.01 million in 2010 and has an estimated current value of $2.49 million to $3.08 million.

6. 15 Coburg Drive Woodleigh Gardens, Northern Territory

A photo of the property in December 2021. Credit: Google Maps.​

Potential buyers were swooning over this property, with many competing to purchase this house.

The selling agent said that the house was a rare find as it is one of the few abodes with four bedrooms and is located in a sought-after area of Darwin.

It was emphasised that the property's selling price in 1996 was below $200,000, making it a steal for those who were looking to invest in real estate.

Additionally, the 944 sq/m property featured built-in wardrobes, a spacious kitchen, split-system air-conditioner, an internal laundry, a tools shed, and undercover parking for two vehicles.

The property was sold in 1996 for $191,000 — $1,000 more than the asking price. In September 2020, it was sold for $577,000.

7. 86A Halifax Street, Brighton, Victoria

A photo of the property in December 2018. Credit: Google Maps.​

The property was located in a "quiet street opposite a park", making this home well sought-after by prospective buyers.

The real estate agent also said that one of the reasons why it was sold at a better price than expected was its need for renovation.

No need to take a double look, folks. That was indeed the reason why the house sold off for a higher price!

Aside from its location, the house also featured ornate ceilings, a separate dining room, a workshop, and a garage.

The home also allows homeowners to feel posh with its verandah which overlooks a well-maintained garden.

While this home sold off for a relatively higher price, the home actually lacked a third bedroom, hindering it from selling for more than $300,000 — the range of the value of the homes in the neighbourhood.

Having said that, the property sold off for $225,000 in 1996.

In 2015, however, the property was sold off for $1.65 million.

8. 36 Network Drive, Wynnum West, Queensland

A photo of the property in April 2017. Credit: Google Maps.​

The two-storey house was ideal for families looking for a home that offers scenic views and large spaces.

The house featured four bedrooms, a family room, a lounge room, a rumpus room, and a garage.

Aside from its "in-house amenities", the property also boasted an "in-ground pool set in tropical landscaping and balcony views to Brisbane", offering its owners a posh-looking scenery.

The property is also situated just 30 minutes away from Brisbane, making it accessible for those who go to the city centre for work.

The house was sold off for $180,000 in 1996.

Currently, its value is estimated to be between $860,000 and $970,000.

It seems that the idea of getting into the housing market is now not feasible. Rising costs are hitting us harder and harder in all aspects of life, the property market more than anywhere.

 

[Ricci]

My son who lives in Melbourne has scrimped and saved $100,000 for a deposit (he's been at it all his working life) and it's still not enough. He reckons that as soon as he saves a dollar the house prices jump a hundred. He's still optimistic that he'll get there one day but it's a long slog. I feel for the young people of today as they find it so difficult to set down their roots.

 

[Possum Lover]

So hard to buy into your first home these days, but it always was. Unfortunately you cannot buy a house that is just the basic structure. When we purchased our first home in 1967 we had nothing painted, bare floors, no driveway, no screens, Mum's old curtains at the windows, a second hand lounge that was given to us, including mouse! We thought we were the cleverest things out. I know it is partly that young people seem to expect so much in a house but I think that they really do not have a choice. The builders include everything, at a cost, of course. Just to get in through the door is a big step and the best step.

 

[leanneh]

In 1976 my husband and I bought a lovely three bedroom home on a very large block in a very desirable suburb in Brisbane. It cost us $36,000 and our mortgage repayments were $110 per month at a time when were each earning about $400/fortnight. In comparison we borrowed $110,000 in 1987 to pay for our 12hectare farm. Interest 4ates were at 17.85% due to the federal government's economic plans. Our mortgage repayments were $1560 per month when our take home pays were about $600/fortnight. It was a truly difficult time. We had 4 children. The cost of living was very high and we struggled with trying to run a farm as well as working full time jobs. Admittedly the housing market these days is difficult but borrowers paying 1% interest rates need to count their blessings.

 

[KatKop]

In 1976 my husband and I bought a lovely three bedroom home on a very large block in a very desirable suburb in Brisbane. It cost us $36,000 and our mortgage repayments were $110 per month at a time when were each earning about $400/fortnight. In comparison we borrowed $110,000 in 1987 to pay for our 12hectare farm. Interest 4ates were at 17.85% due to the federal government's economic plans. Our mortgage repayments were $1560 per month when our take home pays were about $600/fortnight. It was a truly difficult time. We had 4 children. The cost of living was very high and we struggled with trying to run a farm as well as working full time jobs. Admittedly the housing market these days is difficult but borrowers paying 1% interest rates need to count their blessings.

So many people will be able to relate to your experience, @leanneh, and good for you that you persevered and triumphed!

I need to point out, though, that the incredibly high interest rates in the late 80s cannot be laid at the Australian government's door only - there was a global economic crisis, a stock market crash referred to as Black Monday.

 

[Ricci]

So hard to buy into your first home these days, but it always was. Unfortunately you cannot buy a house that is just the basic structure. When we purchased our first home in 1967 we had nothing painted, bare floors, no driveway, no screens, Mum's old curtains at the windows, a second hand lounge that was given to us, including mouse! We thought we were the cleverest things out. I know it is partly that young people seem to expect so much in a house but I think that they really do not have a choice. The builders include everything, at a cost, of course. Just to get in through the door is a big step and the best step.

We had painted concrete floors for years in our first house as well. You could tell how long we had been in the house as major purchases were only done depending on the size of our tax refunds each year. We moved in with only packing boxes for chairs, but in those days it didn't matter, we had our home, keys to the door and we could shut out the rest of the world. We were proper grown ups!!

 

[Elbe]

My husband & I started married life in a converted single garage behind my parents house, and added a verandah with a bathroom. They had done the same - with Dad's parents - and my Dad built a new bedroom as each child arrived. His parents started out their married life in a 2 room converted dairy which my grandfather built onto until it was the sprawling 5 bedroom mansion it is today ..... these days though, and it's partly because of building laws, but also undoubtedly societal expectations & pressures, so many young people start with what previous generations aimed for by the time they retired ......

 

[Josuentag]

A further increase in the supply will lead to a reduction in the pool of buyers. As sellers seek to capitalize on the huge growth over the past 18 months, more listings will mean more buyers' choices and relatively slower price growth.
I was lucky that I managed to buy Alabaster homes for sale last season. Since childhood, I have dreamed of having my own house so each family member has their room. However, it is expected that Australians will continue to look for coastal areas, and the popularity of beaches will continue to grow.