Why this photo of a couple celebrating their first home purchase has backfired spectacularly: ‘Is this a joke?’
A photo of a young couple celebrating after purchasing their first home has sparked outrage over the insane price they had to pay to enter the property market.
Real estate agency McNeice posted a since-deleted photo of a smiling man and woman standing next to a sold sign at a property in Woonona, Wollongong.
‘SOLD for $1.3million. Congratulations to the first home buyers, Sean and Chloe, on their new home,’ the Facebook caption read.
The three-bedroom, one-bathroom home was described on the listing as providing a ‘relaxed lifestyle with ocean glimpses from the front and a peaceful, family-friendly atmosphere throughout’.
But the celebratory Facebook post appeared to go down like a lead balloon, with some social media users sharing their shock that first-time home buyers paid so much money.
One commenter called the price ‘nuts’ while another asked: ‘Is this a joke?’
‘How in God’s name is anyone paying $1.3million for their first home?’ a user said.
Some also criticised the standard of the home given its price.
First home buyers Sean and Chloe (pictured) were photographed by real estate agency McNeice after they bought their $1.3million property in Woonona
‘Remember when a million-dollar house looked like a million-dollar house! And not just a shack,’ one person said.
Another said: ‘I’d be absolutely livid to spend $1.3million and not even get an ensuite.’
People also raised the fact that the price of the property highlighted the extent of the housing crisis in Australia.
‘The Australian dream overwork yourself to be in a $1.1million mortgage debt, paying $1700 a week in mortgage repayments,’ one person said.
The home was sold for $412,000 in August 2012, according to CoreLogic, and was later sold for $840,000 at auction by Dignam Real Estate in April 2020.
Daily Mail has contacted McNeice for comment.
The company founder Troy McNeice told news.com.au the agency is excited for the couple, Sean and Chloe.
‘We are absolutely thrilled for our sellers and delighted with this fantastic result,’ he said on Monday.
Aussies took to social media to slam the price of the three-bedroom home
The listing described the home as offering a ‘relaxed lifestyle with ocean glimpses’
‘It’s always special to see a much-loved home go to a deserving young couple ready to create their own memories.
‘We’re equally excited for our first-home buyers and want to celebrate their determination and perseverance.
‘Their journey is a wonderful reminder that, despite the challenges in today’s market, taking that first step is possible.
‘We wish them every happiness as they begin this exciting new chapter in their new home.’
Finder money expert Richard Whitten also said he has seen an uptick so far this year in first-home buyers stretching budgets to ‘keep up with soaring property prices’.
‘The leap in budgets isn’t about luxury, it’s about necessity,’ he told news.com.au.
‘Buyers are having to adapt to the realities of today’s housing market, and it’s adding more than $50,000 to the size of a deposit.’
