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The latest Housing Industry Association (HIA) Affordability Report shows how further gains in dwelling prices have caused housing affordability to deteriorate sharply during the December 2016 quarter. Affordability worsened in six of the eight capital cities during the December 2016 quarter. The biggest deterioration was in Melbourne (-11.6 per cent), followed by Canberra (-10.7 per … Continue reading “Housing Affordability Takes Another Dive”
From The Conversation. The newly released annual Demographia report on housing affordability has found – once again – that Australia has some of the least affordable housing markets in the world. Sydney was ranked as the second-least-affordable housing market behind Hong Kong. This news came just a day after incoming NSW Premier Gladys Berejiklian announced … Continue reading “A housing affordability crisis in regional Australia? Yes, and here’s why”
So, suddenly its politically correct to be discussing “housing affordability”. But talk is cheap, as we discussed in a recent video blog. The problem is the political weight from home owners, banks, and the construction industry are all wedded to ever rising prices. The number of first time buyers are relatively small, so they have … Continue reading “Why Housing Affordability Talk Is Just Hot Air”
From The Real Estate Conversation. Gladys Berejiklian and Malcolm Turnbull’s governments are seeking solutions to the housing affordability problem. Both new New South Wales premier Gladys Berejiklian and prime minister Malcolm Turnbull have put housing affordability firmly on their agenda. With Domain’s latest price report showing the national median house price soared 7.7% to $781,000 in the year to … Continue reading “Housing affordability on governments’ agenda”
From The New Daily. Malcolm Turnbull has seized on housing affordability as one issue that could help drag his government out of the electoral doldrums, according to sources close to the Prime Minister. Treasurer Scott Morrison is currently in London with a mission to take a lead from Britain in finding ways to open up … Continue reading “Malcolm Turnbull seizes housing affordability as key to his comeback”
The 13th Annual Housing Affordability Survey – 2017 has been released by Demographia and it underscores the problem we have with affordable housing. All five of Australia’s major centres are rate “un-affordable on their scale. The overall major housing market Median Multiple is 6.6. In 2004 (the first Survey), Sydney’s Median Multiple was 7.6, and … Continue reading “Housing Affordability Still Under Pressure – Demographia”
Excellent opinion piece (and charts) in the Guardian by Philip Soos, which nicely underscores the debt burden issue we have been highlighting. Australia’s historically high and rising housing prices are widely debated and have prompted a number of government inquiries into housing affordability. The question stands open: is housing affordable in Australia? Affordability is often … Continue reading “Housing affordability and the changing debt burden”
Good article from Julia Corderoy, news.com.au. THIS map is a homebuyer’s worst nightmare. It is no secret that housing affordability in many parts of Australia absolutely sucks, especially in Sydney. And it looks like it’s getting worse. Since 2009, house prices in the Harbour City have almost doubled, rising by 97.5 per cent, according to … Continue reading “Housing affordability is in dire straits”
KPMG has released a brief report “Housing Affordability: What can be done about the Great Australian Dream? They exhibit greater joined up thinking than recent Government outings, because they include tax reform, supply of affordable housing and shared equity options as part of a reform package. It also shows how complex the issues are. They … Continue reading “A Recipe To Tackle Housing Affordability”
ABC Lateline included a segment on housing affordability, and an extended interview with Angus Taylor, Assistant Minister for Cities. His focus was on supply side issues, but he rejected the notion that investors, and their tax-breaks have messed with the market. He suggested the only way to examine the property sector was at an aggregate … Continue reading “ABC Lateline Does Housing Affordability”