It’s official – housing affordability in Australia is at a crisis point. A startling report by the Real Estate Institute of Australia reveals that families are now allocating nearly half of their income to mortgage repayments. Specifically, the average household spends just shy of 48% of their income on home repayments. The latest Housing Affordability…
Do you know the difference between price and value? Well, you should… because the two principles are quite different and can make a big difference to your chances of achieving financial independence or freedom. Wise words from the “Oracle of Omaha” Warren Buffett is an American investor, industrialist, and philanthropist and is widely regarded as…
There’s a striking surge in property prices in select suburbs of Sydney and Melbourne, with some increases exceeding $240,000 over the short span of three months, recent data from CoreLogic reveals. This upward trend suggests a significant turning point, indicating a sustained housing market recovery in 2024. Sydney In Sydney, the suburb of Longueville stands…
More than one-quarter of all residential properties purchased across Australia’s three largest states were funded entirely with cash in 2023, with buyers immune to recent interest rate hikes, according to a new report released by PEXA. PEXA’s 2023 Cash Purchases Report found the total value of cash-funded residential sale settlements (that is, properties purchased without…
Despite pandemics, rising interest rates, and challenging supply issues, the Australian property market remains a remarkably resilient, unyielding force, with two out of every five Australians determined to buy a home within the next five years. A recent Westpac Home Ownership Report reveals a surge in home buying intentions – 44% of Australians plan to purchase…
In an eye-opening analysis, Sydney’s inner west, eastern suburbs, and northern beaches emerge as the most challenging markets for homebuyers in Australia. Astonishingly, a mere 0.3% of the total homes in these areas are available for purchase. This insight comes from Louis Christopher, the managing director of SQM Research, who noted a staggering 30% drop…
In the dynamic world of Australian real estate, we’re witnessing a tale of two markets, according to industry veteran John McGrath. According to McGrath, the contrast is stark: thriving luxury suburbs versus a more cautious lower-end market, each responding differently to economic forces. Steady growth at the top McGrath, the Chief Executive of the real…
Tampering with negative gearing and capital gains tax concessions would cost the Federal Government up to $58 billion over just 10 years and gut the already-stretched rental market of supply, according to new research. After Anthony Albanese’s decision to break his election commitment to support in full the stage three tax cuts, despite repeated reassurances,…
A recent analysis by the e61 Institute and PropTrack has shed light on the significant impact of Queensland’s 2011 stamp duty hikes. The numbers are telling: a sharp 7.2% drop in home purchases for that year. This isn’t just about sales figures; it’s about people – with a 9% decrease in relocations (equating to 20,000…
Forget the allure of Powerball’s staggering $200 million jackpot – a group of Australian property owners have already struck gold. Recent data from PropTrack reveals a fascinating trend: 67 suburbs where median house and unit prices have not just increased but doubled in the past five years. Where median house and unit prices doubled in…
