House prices across Australian capital cities have dropped four per cent over the 10 months to October, according to the latest RPData research.
Anecdotally it seems as if Gen Y are staying at home with their parents longer, but now it seems it is the case with a new report released by the Federal Government which lays the blame on housing affordability.
This week we read about how luxury suburbs are driving down the value of the Australian property market, how Gen X and Baby Boomer buyers are the most pessimistic about housing affordability and why homeowners should not be complacent following the RBA’s decision to keep the official cash rate on hold. Check out This Week’s Picks below.
This week read about how a shortage of properties has put upward pressure on rents, how more than one in four Gen Y’s would borrow against their house in order to start a new business venture and why smoking may soon be banned in apartment blocks.
IT’S been documented by a number of global studies that Australia is at the top of the list with cities such as London, New York and Hong Kong when it comes to unaffordable housing.
Housing affordability may be the number one concern for many in the electorate during this Federal election, but the issue hasn’t been getting much airplay during the campaign. According to a news.com.au interactive poll, nearly 30 per cent of the 11,000 participants said the most burning issue in the election was housing affordability. And yet [...]
Australia has the least affordable houses in the world, according to a ranking of international housing markets released late January. From a total of 23 Australian regions included in Demographia’s Sixth International Housing Affordability Survey, 22 were labelled severely unaffordable and Australia scored the worst housing affordability rating in the world, followed by Canada. Demographia [...]
The median price for a Sydney unit broke the $400,000 barrier in the September quarter, so it’s little wonder that Sydneysiders struggle to get a foot into the property market. According to figures from Australian Property Monitors the median price for a Sydney unit rose 9.8 per cent from $365,121 to $400,819. Its closest rivals [...]
Interest rates may be on the way down, but keeping up with homeloan repayments remains a financial headache for many Australians. A recent Your Home survey has revealed that more and more homeowners are cutting back on household spending in order to meet mortgage repayments. Despite recent interest rate drops, almost 40 percent of the [...]
September 2009 Download Ross Greenwood’s interview with John Symond on 2GB on 22/09/09 where they discuss housing affordability and the possibility of a housing boom. Download the Interview (MP3, 8MB) John Symond will be appearing regularly on the Ross Greenwood Money Show. Interview extract… Aussie founder and executive chairman John Symond discussed the Reserve Bank’s [...]
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