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Much of the money advice still being dished out to young Australians today is outdated – literally. Like my kids’ taste in music, it’s stuck in the 90s. Back then, Nirvana was the soundtrack to university students studying for careers that promised long-term job security, steady wage growth and, eventually, a house within a reasonable… Read more »
Adult children could save upwards of $27,000 a year by returning to the coop after moving out of home, according to new research. The Compare the Market survey found older Australians and multi-generational living arrangements continue to be a major defence against rising costs. Rental prices have accelerated at three times the rate of wages… Read more »
I came across a fascinating research report from Ray White economist Atom Gi Tian during the week, which shows that homeownership remains within reach for most Australians. Atom also shows that different housing policies across countries can be just as effective. The OECD’s latest data puts Australia’s combined homeownership rate at 62.7 per cent, steady… Read more »
The data is in. Properties eligible for the scheme have risen nearly twice as fast as higher-priced homes since it was introduced. New analysis from property research giant Cotality shows that since October last year, properties with an estimated value below the 5% Deposit Scheme price caps have recorded stronger growth than higher-priced homes. Over the… Read more »
We all know Australia has a housing crisis. Just chat to a first home buyer in shock at property values, or anyone struggling to find (and afford), a home to rent. While there are lots of issues contributing the problem, a couple stand out. These are the nation’s two biggest ‘property pain points’: Property pain… Read more »
I’ve talked a lot about Australian property prices but just how do they compare with overseas markets? I know every market is different but a comparison does bring some perspective. The below chart from the Organisation for Economic Co-operation and Development (OECD) shows that from an affordability perspective, Australian property is expensive. The OECD does… Read more »
One of the people at work is buying her first home with her partner and, being the finance nerd I am, we’ve been chatting through each stage of the process. It started with saving the deposit, then getting finance approved and negotiating the price now that they’ve found a property that fits. And while none… Read more »
Following on from comments about the ill-judged broadening of the federal government’s 5 per cent home deposit scheme, there is now clear evidence of how it is fuelling the property boom. According to Ray White chief economist, Nerida Conisbee, Australia’s most affordable housing is experiencing significantly stronger price growth than typical properties, with the bottom… Read more »
Despite affordability and supply issues, everything points to the property boom continuing … Recently I talked about the Federal Government’s crazy decision to widen its 5 per cent deposit scheme as a way of helping first home buyers into the property market. The reality is that the only way to solve the housing affordability crisis… Read more »
Many parents are the reason first home buyers can enter the property market – but is this really the best idea? Rising property prices are good news for existing homeowners, particularly buyers over recent years caught by rate rises increasing repayments and property values falling. At least the risk of being caught with negative equity… Read more »
