Forty per cent of first home buyers in Sydney and Hobart were priced out of their property market even before the latest surge in house values and new research reveals a widening gap between the nation’s capital cities.
Most measures of affordability are based on the median price of a house while taking into account mortgage costs. In Sydney, the bottom 80 per cent of first-time buyers earned enough to cover the cost of 40 per cent of homes on the market. But in Hobart, where incomes are lower, just 20 per cent of homes are affordable to 80 per cent of first-time buyers.
In Melbourne, the rental market is off-limits to the bottom 20 per cent of income earners but this improves rapidly as wages increase. The combined value of the schemes, including HomeBuilder, stamp duty concessions and first home owners’ grants, was at the end of December worth $86,000 to a first-time buyer in Victoria. In NSW, they were worth $85,000 while the highest at $88,000 was for people in the Northern Territory.
swrighteconomy termite_terry. We all know you are the fake account for NeighboursNotStrangers spreading propaganda. While you use Christian names in your image, these people are from legal businesses that professionally manage airbnb's on behalf of many mum and dad investors.
swrighteconomy The ‘elephant in the room’ that no journalist dare mention: illegal short-term Airbnb-type rentals.
swrighteconomy Rising asset prices creating greater wealth inequality.....did central banks really think all that money printing had no consequences?
swrighteconomy That’s what ppl voted for.
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House prices tipped to rise in March | Sky News AustraliaPeople under 40 will find it increasingly difficult to buy a house after property prices across Australia jumped by 2.1 per cent in February and are expected to increase again for the month of March.\n\nCoreLogic reported this was the largest jump in property prices since August 2003.\n\nAMP Capital are expecting prices to rise even further in March and are predicting the nation could see the largest monthly gain in property prices since the 1980s.\n\nRecord low interest rates set by the Reserve Bank are contributing to the spike in prices.\n God the libs really need to get out so I can have a hope of affording a house But TheGimpOfGoldstien TimWilson is happy for people to dip into their SUPER which in turn INCREASES the Housing Market Price. MERIT Mr0Credibility Hows many times did News Corp blame Asian and other foreigners for inflating the local housing market? That excuse doesn't exist any more.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Aussies facing unparalleled house price riseIn the years since the 1990s recession, Australians have become accustomed to rising housing prices, with millions of people building entire investment plans and retirement strategies around the nation’s property market.
Source: newscomauHQ - 🏆 9. / 77 Read more »
Clever way to beat housing boomThe growth in house prices in recent years has been staggering, with the average property price growth in major hubs like Sydney up over 400 per cent since the ’90s. Move to Asia or Eastern Europe. 'First time buyers are being priced out by skyrocketing Aussie house prices' BEING? They were priced out over 15 years ago !!!! I know, I AM one so are many of my friends, much older than me as well !!! Is nice to know kids today should be able to afford tents from BCF for housing in the future.. if they are lucky.
Source: newscomauHQ - 🏆 9. / 77 Read more »
Politicians have delivered ‘massive debt and unaffordable houses’ to young Australians | Sky News AustraliaLegal academic Professor David Flint says today’s politicians have delivered for young Australians massive debt, an expensive education system with declining standards, and an unaffordable housing market.\n\n“We have to judge people not by what they say, but what they do,” Professor Flint told Sky News host Alan Jones.\n\n“That’s how we judge carpenters and plumbers and doctors: by what they deliver.\n\n“If you ask yourselves ‘what have the politicians delivered for young people’ … they’ve delivered massive debt, an education system which is highly expensive.\n\n“In the most sparsely populated continent in the world, they’ve developed housing markets which are the world’s most expensive and least affordable according to a recent survey.” \n What do you expect from incompetent and irresponsible people running the country and the states! Yep pretty much. But tell us again who the better economic managers are? Sky News ensures that the LNP are NEVER specifically mentioned. Just use the generic 'politicians'.
Source: SkyNewsAust - 🏆 7. / 78 Read more »