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Lately, people have been telling me they’re considering adding a small dwelling to their backyard… either to generate rental income or to give their grown-up kids a place to live. Despite rising construction costs and higher interest rates, relaxed planning laws are making these builds easier than they once were. But is adding a granny… Read more »
Governments across all levels are spending at record levels … That record spending was justified during Covid because it stopped the economy from plunging into a Depression. The problem is that this level of spending has continued even as the economy has returned to normal. As a result, inflation has surged again and interest rates… 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 »
Like much of the recent media commentary, I’ve pointed out that while the First Home Buyer Guarantee makes it easier for first home buyers to enter the market, it won’t solve the housing crisis. The only real solution is to build more housing. It’s that simple. If anything, the First Home Guarantee will push up… Read more »
A record number of property investors are selling because of rising costs, legislative uncertainty, and concerns over proposed federal tax reforms. Basically landlords, much maligned by tenants and governments for ‘causing the current rental crisis’, are pulling out and investing their money somewhere else. As I’ve warned previously, higher taxes and reducing the rights of… Read more »
It is with a sense of guilt and embarrassment that I admit Libby and I live in a house where we have spare bedrooms – and we’re part of the much-pilloried Baby Boomer generation. The shame we feel … Economic and finance gnomes lay blame for the housing crisis purely at our feet because we… Read more »
I’ve talked a lot about the housing shortage and why it’s pushing property values up so much, but I was fascinated to read a great report from Cotality head of research, Eliza Owen, on the issue. Eliza reminds us of the target National Cabinet announced in August 2023 to build 1.2 million new homes in… Read more »
Australians have relied even more on the bank of parents (and grandparents) to save money amid cost-of-living pressures, according to the latest research by Compare the Market. The consumer comparison experts’ annual survey of Australian parents and grandparents found one in six have helped purchase clothes, toys and essential items (15.9 per cent) for their… Read more »
Jim Chalmers, face facts and take responsibility. The economy has slowed to a crawl … because of you. Interest rates are staying higher for longer … because of you. Australian families are hurting from a cost-of-living crisis … because of you. There is a housing and rental affordability crisis … because of you (and the… Read more »
