Essential housing package forms cornerstone of NSW budget
Ahead of the Labor government’s state budget today (19 September), the NSW government has announced a new program targeting social and affordable housing. The NSW government’s $224 million Essential Housing Package has been labelled as the first step of the lengthy project to rebuild the state’s social and affordable housing system, with this initial investment […]
Housing affordability slumps to lowest on record since GFC
A new report has revealed that housing affordability has declined by almost 14.0 per cent over a 20-year period and 12.4 per cent over the past decade. The Real Estate Institute of Australia (REIA) Housing Affordability Report (HAR) has found that housing affordability declined over the June quarter 2023. With mortgagors continuing to face mounting […]
House prices to rise 5–6 per cent in 2023: ANZ
House prices could rise by up to 6 per cent in 2023 while the share of income going to mortgage repayments could reach a record high of around 10 per cent, the major bank has predicted. In its August 2023 Australian housing update, ANZ’s senior economist Adelaide Timbrell said house prices will rise by 5 […]
Help to Buy enters next phase
The federal government has set a timeline to launch its shared-equity home buying scheme, which was a key Labour Party election promise in 2022. The scheme, called “Help to Buy”, will kick off in 2024, so long as the requisite legislation passes in each state and territory, which leaders agreed to do during the latest meeting of […]
440,000 older Aussies risk not having housing by 2031
New research has found that hundreds of thousands of lower-income Australians aged 50 and over will be without suitable housing in less than a decade. The Australian Housing and Urban Research Institute (AHURI) released the findings in a new report, which examines how Australia could deliver the types of housing required by individuals who are […]
‘Historical high’ for mortgage repayments projected: RBA
The Reserve Bank has lifted its projection for the amount of disposable income that will need to be dedicated to scheduled mortgage repayments. In the latest Statement on Monetary Policy (August 2023), the Reserve Bank of Australia (RBA) has projected that scheduled mortgage repayments will “increase to a historical high” of approximately 9.8 per cent […]
August cash rate called
The central bank has called the official cash rate for the month of August. The Reserve Bank of Australia (RBA) has confirmed it will hold the official cash rate at 4.10 per cent today (1 August 2023) for the second consecutive month. This is the first time the central bank has held the cash rate […]
Rising rents to slow as mortgage rates taper off in 2024: CoreLogic
The current high level of rental growth is expected to ease next year, as interest rates come close to peaking and the supply of homes improves, according to an expert. Eliza Owen, head of research at CoreLogic, pointed out that rents and interest rates tend to move together for multiple reasons. “For one, rents are […]
FAST 50’s most prestigious suburbs
While Smart Property Investment’s FAST 50 report is all about finding bang for your buck, these $4 million markets proved too good to be omitted. The report, which launched in May, combined the collective expertise of a 14-strong investment expert panel and recent housing performance drawn from open-source data to form a report and ranking with aims to […]
The highest yielding suburbs in SPI’s FAST 50 report
Are you an investor hunting strong rental yields? Then look no further than these suburbs from Smart Property Investment’s FAST 50 report where investors are getting great bang for their buck. The report, which launched in May, merges the insights of a 14-strong investment expert panel and recent housing performance drawn from open-source data to form a report […]