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”

Budget 2017: government still [just] tinkering with housing affordability

From The Conversation. It’s unsurprising that in the lead-up to this year’s federal budget there was a lot of discussion about housing affordability as its centrepiece. Over the past 20 years price-to-income and price-to-rent ratios have doubled. Sydney’s price-to-income ratio is over 12, making it the second-least-affordable city in the world. Melbourne is in fourth … Continue reading “Budget 2017: government still [just] tinkering with housing affordability”

Housing affordability is worsening, warns ratings agency

From Mortgage Professional Australia. Moody’s report shows regulatory crackdowns and low-interest rates will not protect affordability, putting pressure on Government to take action in the Budget Housing affordability is deteriorating in Australia despite the impact of regulatory crackdowns and low interest rates, a report by international ratings agency Moody investors Service has found. Affordability worsened … Continue reading “Housing affordability is worsening, warns ratings agency”

The Answer to our Housing Affordability Challenge is Housing Supply – HIA

The HIA makes some good points about the need for a credible land planning body to provide national monitoring and forecasting of future land release and housing requirements to address housing affordability; but ignores the important point that supply is actually NOT the key issue, because average number of people per property has remained the … Continue reading “The Answer to our Housing Affordability Challenge is Housing Supply – HIA”

Super funds targeted in Shorten’s housing affordability package

From The Conversation. Labor will promise to ban direct borrowing by self-managed superannuation funds, as part of a housing affordability policy released on Friday to pre-empt the government’s package in next month’s budget. This “limited recourse borrowing” – where a creditor has limited claims on the loan if there is a default – has increased … Continue reading “Super funds targeted in Shorten’s housing affordability package”