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News.com.au
an hour ago
- News.com.au
Melbourne man's amazing journey from sleeping in car to homeowner
A Melbourne man has revealed his incredible journey from living in a car after being scammed out of his life savings, to becoming a property investor. And the boilermaker's surprising turning point was a trip to McDonalds. It comes as social housing services groups warn there could be a growing cohort of Victorians who face homelessness on their way path to homeownership. Father-of-two Kostas Papadimitropoulos, who was born in Australia but later moved to Greece with his parents as child, lost everything when a man posing as a prospective business partner left him in financial ruin. But after years of hard work, he now owns a home in Melbourne's north and is in the process of buying an investment property. In 2016-17, about five years after he returned to Australia, Mr Papadimitropoulos met a man who asked for $30,000 so they could build a business together – but the man fled the country. 'He disappeared and he left me with a $60,000 debt with an ANZ business loan,' Mr Papadimitropoulos said. He reported the matter to police, but was left without his life's savings and a short time later was evicted form his rental and eventually wound up sleeping in his car. With his wife, Bibi, and daughter, Sinny, who were in China as this happened, he was forced to use the Wi-Fi in cafes to stay in touch with the woman he had met as she holidayed in Greece years before. His turning point came from a lucky meeting with a divorced mother of two at a McDonalds in 2020. Mr Papadimitropoulos had seen a social media post about a woman, Anissa Cavallo, who had built a 17-property portfolio after getting divorced. Hoping she might be able to help him overcome his bleak financial history, he arranged a meeting. While her children ate Happy Meals, Ms Cavallo told him to focus on work and money, meanwhile the Eda Property founder helped clean up his credit file so he could get a loan. 'Slowly, slowly, I found work and started to build my wealth,' Mr Papadimitropoulos said. In January 2021, using his savings, money sent from Bibi and borrowing from friends – which he has since paid back – he bought a block of land to build a house on. He also got the Victorian government's First Home Owner Grant, and the house was built by mid-2023. Mr Papadimitropoulos, Bibi and Sinny, now 17, have been living there ever since and are now preparing to buy an investment property with the equity from their first home. Ms Cavallo said the incredible journey proved there was almost always a way to get a home, advising people who want to focus on getting a job and their finances in order before preparing to enter the market. But there are growing fears more Victorians will face a similarly fraught pathway to housing security. Melbourne City Mission youth and family homelessness services senior manager Lisa O'Brien said a combination of high rents and low vacancy rates were driving increasing numbers of Victorians to homelessness. 'For some, owning a home may eventually be possible, but for many, just accessing a safe bed is a significant and hard-won milestone in the context of today's housing market,' Ms O'Brien said. 'We have many examples of people and families who have transitioned from rough sleeping, living in cars, sheds or on a couch into autonomous living once more. 'It can be a journey to navigate the housing system and without support it is easy to get lost or left behind.' The Council to Homeless Persons chief executive Deborah Di Natale said as the Victorian housing crisis intensified, support services had 'seen an alarming surge of working people experiencing homelessness'. 'Unfortunately in the past year we've seen no indication the situation is improving,' Ms Di Natale said. In March, Infrastructure Victoria recommended the state government urgently build 60,000 new social housing homes to help address the situation. 'Without that kind of decisive action, we'll continue to see more families in crisis, more women and children leaving violence with nowhere to go, and tragically more people dying on our streets,' Ms Di Natale said. She also called for more investment in Housing First programs which provide long-term rough sleepers with housing and wraparound support services. TIPS TO GO FROM WORKING HOMELESS TO HOMEOWNER – Work longer hours to earn more money, overtime can ramp up; – Save as much money as you can from day-to-day expenses; – If you're renting, try to find a cheaper rental property; – Take advantage of existing government help schemes, such as the Victorian government's First Home Owner Grant; – Don't be afraid to seek advice from industry professionals. Source: Kostas Papadimitropoulos
News.com.au
an hour ago
- News.com.au
Young buyers chose Western Sydney lifestyle and affordability
Savvy young buyers have cracked the code, Western Sydney has both the lifestyle factor and cheap prices the inner-city can't match. First home buyers are ditching the beaches and overpriced lattes of the inner Sydney suburbs and choosing to live on the outskirts, and it's not just the cost of property forcing their hand. Many are weighing up their options, finding the lifestyle paired with the friendlier prices are making it the better choice. New masterplanned communities with shops, cafes and quality restaurants all within walking distance were pulling in young buyers, as well as job opportunities and being close to the nature of the Blue Mountains were drawing points for others. On top of that, most popular Western Sydney neighbourhoods were up to half the price of a homes in the city. The median price for a unit in Penrith, Campbelltown and Blacktown were all under $575,000, with Liverpool, Cabramatta, Guildford and Merrylands even cheaper with median prices under $500,000, according to PropTrack data. In the Inner West and inner city areas, an apartment in Marrickville, Surry Hills, Mascot or Burwood would set you back a median price of around $880,000-$890,000 with many Eastern Suburbs units over $1m. House prices in Western Sydney could be found under $1m in many of these suburbs, well below the city's median house price of $1.55m. Young couple Laura Crambrook and Jack Dennis purchased their first property in May this year in the Western Sydney suburb Jordan Springs. Ms Crambrook said they weren't even tempted to buy in an area closer to the city. 'We were pretty set on this area, we have everything we need here,' she said. 'We both grew up in the Blue Mountains and we wanted something close to home and something affordable for us.' They loved being close to the Mountains and their family, but above all loved the convenient location and lifestyle of their new apartment. 'The lake is right at the front of our apartment so we can go for afternoon walks all the way around the lake, and it's only a short walk to do our grocery shopping, it's so easy,' she said. 'There's a great pub across the road which is an added bonus.' Ray White agent Peter Diamantidis grew up in Western Sydney and has worked in real estate in the region for over 20 years. 'It's changed a lot compared to what we have now, there are better, good quality restaurants, and not just for the adults, but for the children too, you used to have to travel to the city for a trampoline park for example, in Penrith and St Marys there is a lot of that happening now,' he said. Mr Diamantidis said out of over 1,000 of their recent sales of their Western Sydney offices, more than 50 per cent were to first homebuyer owner occupiers. The transport and accessibility in the region had also changed significantly and with the metro in St Marys soon to be opening, it was an easy commute for those who did work in the city. 'If I left St Marys right now it would take me just over 30 minutes and I'd only have to pass one traffic light to get into the city,' he said. Natasha Sanders who works across Ray White projects in Western Sydney said the Jordan Springs project had been extremely popular with first home buyers. The prices were selling around $600,000 off the plan two years ago and now were selling for about $740,000. 'Penrith is also always really hot with first home buyers,' she said. '(Home) prices any closer to the city are getting ridiculous for first home buyers and Penrith is its own little CBD,' she added. Buyers loved the convenience of the area with amenities all within reach, she added, while many were also drawn to the area because of the new Western Sydney airport set to open in 2026. 'With the new airport people are expecting the area to keep expanding and growing,' Ms Sanders said.
ABC News
an hour ago
- ABC News
Two days of free train travel for NSW after government, unions sign pay deal
Rail commuters will travel for free over two days as a peace offering from the NSW government after months of disruption due to its stoush with the unions over pay. On Saturday afternoon the government signed a three-year deal with the rail unions with 92 per cent of workers voting in favour of the new enterprise agreement. Rail, Tram and Bus Union NSW secretary Toby Warnes described the result as "truly a majority", saying the voter turnout from members was a "historic high". He said the period of bargaining had felt long but what has been agreed upon was "something that people were really quite happy with". "But we're really glad we've been able to get this bargain agreement over the line, now we can carry on providing service to the people of New South Wales as our members love to do every day." Under the agreement workers will get a 12 per cent pay rise over three years plus back pay, they will also see an improvement to their conditions and technological advances. Sydney Trains and NSW TrainLink will also become one entity. From Thursday July 31 and Friday August 1, metro and regional train trips across the NSW will cost nothing. Minister for Transport John Graham told ABC News it was a great result for rail commuters, adding it would allow for further investment into the reliability of the network. "We know this has been a big impact on people, we know it's been a huge inconvenience — that disruption is over," Mr Graham said. Four rail unions and the state government have been locked in an ongoing pay dispute for months. The unions had been demanding better pay and working conditions, with negotiations often clouded by multiple rounds of industrial action and legal proceedings. "These enterprise agreements have to run through the processes," Mr Graham said. "This is half the time it took to land the last agreement but for commuters it has been a big disruption." Last year, doubt was cast over whether Sydney's iconic New Year's Eve firework celebrations would go ahead, after the union threatened to bring the city's rail network to a halt. On several occasions, the network faced complete shutdowns, including four days of strike action in November last year. Saturday's landmark agreement, which is now submitted for formal approval with the Fair Work Commission, will last for three years. "We'll work really closely over these three years with the workforce, and I hope we're on good terms as we come to the next agreement," Mr Graham said. "But of course, rail workers at the end of this agreement will have the chance to renegotiate their pay and conditions." Sydney Trains chief executive Matt Longland said it was a win for staff but an even bigger win for the travelling public. "With this certainty, Sydney Trains can resume its focus on delivering a safe, reliable, and disruption-free service," Mr Longland said. "Passengers can have renewed confidence that the trains they rely on will be there when they need them." The government hopes passengers will use the fare-free period to support local businesses hit hard by the industrial action. "Some of these businesses took a big hit during the period of disruption and they deserve a shot in the arm," Mr Graham said. Opal gates will be switched off for the 48-hour period at all Sydney trains, NSW TrainLink, Sydney Metro and Airport Line services. Buses, ferries and light rail trips will still come at a cost.
