Booming property prices across Australia means workers with an average income are watching their dreams of homeownership slip further and further away. According to the latest ATO data, the average taxable income for Australians in the 2018-19 financial year was $62,549. Meanwhile, according to this home loan borrowing calculator, that would give a single person…
The top end of town just keeps getting stronger, if table 1 is any indication. The Covid19 pandemic, along with the current monetary, fiscal, and tax settings in Australia, has been kind to those who own property and especially many in the baby boomer cohort. Many of these wealthy baby boomers are looking for a better housing…
The Olympics should work as a positive influence on Brisbane housing market conditions. However, with the Games still some eleven years away, the flow-on effects are likely to be gradual and centred around significant infrastructure upgrades and the associated medium-term uplift in jobs and longer-term improvements in transport efficiency. The most significant positive influence on…
The CoreLogic Quarterly Rental Review for June showed a strong uplift of 6.6% in rent values over the year. This follows a decade of relatively subdued annual rent growth, averaging 1.8% since June 2011. The annual growth rate of 6.6% marked the strongest annual uplift in over a decade. CoreLogic data across 88 SA4 markets₁…
As we close in on a post-COVID world, two things have become clear — people don’t need to be in the office as much (if at all) and international migration is going to be uncertain for some time to come. This is particularly problematic for anyone selling inner-city Melbourne apartments. A key demographic for inner-city…
CoreLogic analysis suggests servicing a mortgage is now cheaper than paying rent on 36.2% of Australian properties, which is higher than the pre-COVID proportion of 33.9% reported in February last year. The analysis was undertaken at the individual property level, using a set of mortgage assumptions and valuation estimates, to approximate mortgage repayments. These were…
With lockdown restrictions tightening across NSW and extending in Victoria, Australia’s banks have rolled out extra support to affected customers. This week our largest bank, CBA, has extended its foreclosure moratorium, which means the bank won’t evict a customer in arrears until at least February 2022. Support being offered by Australian banks Mortgage deferrals (size…
While rental growth is slowing, we’ve still experienced the highest rental growth in over a decade. Growth in rental rates eased over the second quarter of 2021, with the national rental index rising by 2.1% over the 3 months to June compared to a 3.2% rise over the March quarter. While rental growth has slowed…
One of the key advantages to buying in Brisbane, compared with Sydney and Melbourne, is affordability. It wasn’t that long ago that a house, 10 kilometres from the CBD, could still be found for $450,000. Compare that with Sydney, where median prices on the cusp of the middle ring, just 10 kilometres out from the…
15The reports of my death are greatly exaggerated! Mark Twain We need to talk about the death of Australian manufacturing. It’s a story that is often being told in the news. “Yet another factory closure! “Ford leaves the country! “No manufacturing jobs are left in Australia! “At the heyday of manufacturing in Australia in the…
