Record low rates no help to housing affordability

From The Real Estate Conversation. The proportion of income required to meet home loan repayments was 30.4 per cent in the December quarter of 2016, according to the latest Adelaide Bank/REIA Housing Affordability Report. The result was an increase of 0.9 percentage points over the quarter. Housing affordability declined across all Australian states during the quarter, and New … Continue reading “Record low rates no help to housing affordability”

No, Housing Affordability Is Hitting Households Across ALL States

CoreLogic posted an interesting blog today, in which the redoubtable Cameron Kusher says “It is really important to note that the housing affordability challenges are largely a Sydney and Melbourne phenomena”. Now, I have to say, that just not chime with our household finance analysis. Whilst I agree affordability issues are partly a function of … Continue reading “No, Housing Affordability Is Hitting Households Across ALL States”

Housing affordability: Experts see stamp duty cuts hiking prices

From The NewDaily. House prices will increase thanks to a Victorian government decision to scrap stamp duty on some properties, according to experts who warn the move would benefit owners – not first home buyers – if rolled out across the country. Victorian Premier Daniel Andrews on Sunday announced first home buyers would be exempt from paying stamp duty on properties … Continue reading “Housing affordability: Experts see stamp duty cuts hiking prices”

Could 3D-Printing help solve the housing affordability problem?

From Zero Hedge. While 3D-printing may have been faded away in recent years from the spotlight of core “disruptive” technologies, that may soon change again after a company managed to 3D-print an entire house in just 24 hours. Located in Russia, the following 400-square-foot home, or 37 square meters, was built in just a day, … Continue reading “Could 3D-Printing help solve the housing affordability problem?”

Invest in Urban Transport to Fix Housing Affordability

From AAP. Soaring household debt and housing prices could make it “dangerous” to cut interest rates, the head of the Reserve Bank of Australia says. Dr Philip Lowe has told a Federal parliamentary economics committee that a deeper cut to the official cash rate could deliver a short-term boost to jobs and inflation but also … Continue reading “Invest in Urban Transport to Fix Housing Affordability”

Rates on hold, but housing affordability remains ‘hotly debated’

From The Real Estate Conversation. The Reserve Bank has left interest rates at historic lows as economic conditions improve, but the property industry says other measures are required to improve housing affordability. The Reserve Bank of Australia left interest rates on hold at its first meeting of 2017, with rates held at a record low of 1.50 per cent. Governor … Continue reading “Rates on hold, but housing affordability remains ‘hotly debated’”

Housing Affordability Takes Another Dive

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”

A housing affordability crisis in regional Australia? Yes, and here’s why

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”

Why Housing Affordability Talk Is Just Hot Air

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”

Housing affordability on governments’ agenda

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”