Demand for housing at record high
Aussies’ intentions to purchase property have hit a record high after a slew of interest rate cuts last year, but the rush to buy has coincided with another dramatic market change.
Aussies’ intentions to purchase property have hit a record high after a slew of interest rate cuts last year, but the rush to buy has coincided with another dramatic market change.
Residents in some unexpected pockets of Sydney will be sipping lattes in graffitied laneways and riding trams designed to mirror Melbourne if town planners have their way.
Sydney’s new light rail network has spurred an unprecedented change in the city’s southeast, which now leads a list of regions deemed “severely” unaffordable for local residents.
A new issue has emerged in the housing market that’s set to create another obstacle for home seekers trying to land a foot on an already unaffordable property ladder.
Sydney’s lofty property prices – set to grow another 10 per cent this year – are affecting the property markets of other capitals, most notably Melbourne and Brisbane.
They were the uninhabitable homes sold for millions of dollars to renovators – but many are returning to the market for sale or rent and it’s hard to believe they’re the same properties.
Economic modelling shows Sydney home prices are on the verge of another major increase over 2020 – and it’s mostly because of a problem that’s turned the market into a powder keg.
It became accessible just a week ago but Scott Morrison’s flagship first home buyer loan deposit scheme, promised before the federal election, is already facing renewed criticism.
Finding an affordable property that ticks all the boxes is enough of a challenge as it is in Sydney, but home seekers have been thrown a new obstacle set to make it even more difficult.
Investing in real estate is gaining popularity again following recent interest rate cuts, but there are some common mistakes new investors keep making, one analyst claims.
Original URL: https://www.dailytelegraph.com.au/journalists/aidan-devine/page/137