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…
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…
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…
The latest 2024 First-Home Buyer Report from Domain, in collaboration with digital lender Unloan, backed by Commbank, offers a deep dive into the evolving landscape for first-home buyers in Australia. This comprehensive report paints a complex picture, primarily influenced by the current surge in interest rates. Quicker savings for a deposit – but it’s not…
It can be an exciting time when buying real estate, can’t it? As I’ve said before, though, successful property investment should be less emotional than buying a home to live in. Either way, we’re all human, so sometimes our emotions can get the better of us. The thing is one of the worst times for…
As I’m sure you’re aware, successful property investment involves holding your properties for as long as possible. But sometimes you will have to sell. Maybe it’s because you’ve outgrown your current home – or the opposite when all the kids have left home. Or perhaps, an investment property is underperforming, so you’ve made the wise…
Have you dreamed of living a house in the suburbs? Well, according to the latest survey from Compare the Market, the majority of people across Australia, Canada and the United States would prefer living in suburbia rather than to live in a city. The survey interestingly revealed that more Australians prefer suburbia compared to the…
Are you saving for a deposit for a new home? Well, according to the latest research from PEXA, Australians wanting to buy a home now have to work at least two years longer to save for the deposit than they did in 2020, with soaring house prices, rising interest rates and tighter lending criteria imposed by…
