The RBA On Housing Affordability

The RBA released their latest Bulletin today  and it contained an interesting section on Housing Accessibility For First Time Buyers.  They suggest that in many centers, new buyers are able to access the market, at the current low interest rates. But the barriers are significantly higher in Melbourne, Sydney and Perth. They also highlight that … Continue reading “The RBA On Housing Affordability”

Housing Affordability Improves For Some

From The Real Estate Conversation. Housing affordability has improved across all states and territories, allowing for a large increase in the number of loans to first-home buyers, according to the September quarter edition of the Adelaide Bank/REIA Housing Affordability Report. The report shows the proportion of median family income required to meet average loan repayments decreased … Continue reading “Housing Affordability Improves For Some”

Housing Affordability, A Complex Equation

Industry Super Australia, a research and advocacy body for Industry super funds, has published an excellent discussion paper on “Assisting Housing Affordability” which endeavors to identify the underlying causes of affordability issues, and to consider some useful policy responses in the current and historical context. They rightly consider both supply and demand related issues. They call … Continue reading “Housing Affordability, A Complex Equation”

Housing Affordability Eases for Some

The HIA says that despite the poor levels of housing affordability there are signs of improvement for home-buyers. Investors are not so lucky. “The HIA Housing Affordability index for Australia improved by 0.5 per cent in the September 2017 quarter but still remains 4.4 per cent below the level recorded a year ago. “Housing Affordability … Continue reading “Housing Affordability Eases for Some”

Housing Affordability Declines Further

HIA’s Affordability Index shows Housing affordability in Australia continued to decline in the June quarter this year. This is largely due to a rise in the median dwelling price of 9.1% per cent to a record high of $540,200. The HIA Affordability Index is produced quarterly and uses a range of data to including wages, … Continue reading “Housing Affordability Declines Further”

Housing affordability deteriorated further over the March 2017 quarter

From Core Logic. With dwelling values rising at a faster pace than household incomes, housing affordability has worsened over the first quarter of 2017.  CoreLogic measures housing affordability across four measures and three of these four measures have seen affordability deteriorate over the quarter. The four affordability measures that CoreLogic calculate are: Dwelling price to … Continue reading “Housing affordability deteriorated further over the March 2017 quarter”

NSW gov’t unveils housing affordability measures

From Australian Broker. The NSW Government has announced it will spend more than $720m over the next four years to address the key issue of housing affordability. “Our number one priority as a government is to get more houses built and to market to help make new homes more affordable,” Minister for Planning and Housing, … Continue reading “NSW gov’t unveils housing affordability measures”

Perfect storm for housing affordability

From Mortgage Professional Australia. First home buyers’ day of reckoning as Sydney and Melbourne prices drop and stamp duty is slashed Property prices fell in Sydney and Melbourne over the month of March, by 1.3% and 1.7% respectively, according to CoreLogic’s Home Value Index. Published yesterday, the Index coincided with an announcement by NSW’s State … Continue reading “Perfect storm for housing affordability”

NSW Government Reveals Housing Affordability Plan

So NSW has perpetuated the “quick fix” approach to housing affordability, alongside taxing foreign investors harder and changes to planning. The removal of stamp duty concessions to property investors may slow that sector, but the fundamental issue is that supply is not the problem many claim it to be. Lets see if first time buyer … Continue reading “NSW Government Reveals Housing Affordability Plan”

Avocados and housing affordability? It’s a green herring

From The New Daily. Avocados are in the news again, which must mean housing affordability is too. This time it was wunderkind property developer Tim Gurner who told 60 Minutes that millennials “buying smashed avocado for 19 bucks and … coffees at $4 each” shouldn’t be complaining about the difficulty of getting into the property … Continue reading “Avocados and housing affordability? It’s a green herring”