Gearing cut won’t help buyers afford average home
Labor’s plan to restrict negative gearing to new homes could deal the economy a blow but have only a limited impact in making housing affordable in Sydney and Melbourne, modelling shows.
Labor’s plan to restrict negative gearing to new homes could deal the economy a blow but have only a limited impact in making housing affordable in Sydney and Melbourne, modelling shows.
The Reserve Bank of Australia has decided to keep the cash rate on hold but it remains under pressure to make a later cut. And when it does it could be a game changer for the housing market.
A crowd of nearly 300 people were in attendance for the auction of a notorious Sydney home. And when the hammer struck, there were gasps.
Bargain hunters’ best prospects of getting great property deals are in two types of suburbs where homes are being offered with up to $650,000 off the price. And new data shows what those deals are.
A dated home presenting major challenges for anyone brave enough to redevelop it sold under the hammer for $1.28m — and it proved one of the hotter auctions on a lacklustre day of sales.
Homes in 20 Sydney suburbs once beyond the budgets of buyers earning the city’s average wage have become accessible again and are offering up property deals for as little as $300,000.
Sellers hoping to get top dollar or a quick sale are being urged to invest in property styling, giving their homes an edge over the rest of the market.
Sydney home prices are no longer falling as rapidly as they once were and property analysts say the market is starting to show green shoots that point to a coming rebound in values.
Prices may be sliding in some areas, but in two popular Sydney enclaves they have continued to grow by nearly $300,000 annually — a faster rate than anywhere else in the country.
Bidding for a three-bedroom house in Sydney’s south became so intense this morning one of the attendees had a panic attack, causing the auction to take an unexpected turn.
Original URL: https://www.dailytelegraph.com.au/journalists/aidan-devine/page/155