Tag: housing
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Northern Territory Paying Aussies to Make the Move Up North
Financial incentives are being offered to Australians who buy a house in the Northern Territory in a bid to attract more people to the state. The government is pledging $9.3 million towards plans to try and lure people, including migrants, up north. The announcement is a part of the Northern Territory Population Growth Strategy 2018-2028…
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Australian housing prices continue to rise
Core Research has announced a 3.7% rise in Australia’s housing market prices since January. Sydney dominated the Australian property market, with the highest increase of 5.3%, with Melbourne close behind with a respectable 4.4% rise. Only Perth has recorded a decrease in housing prices, which fell 1.1%. Sydney has long held the title of Australia’s most unaffordable…
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Victoria criticises Federal Government on home ownership
The Victorian government has today launched an attack on the federal government, accusing them of not acting sufficiently to arrest the decline in home ownership levels. With a meeting of the nation’s treasurers scheduled to take place today in Canberra, the home ownership problem is set to dominate the agenda. The Victorian Treasurer, Tim Pallas,…
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Is rent control a solution to the housing crisis?
In the ongoing housing affordability crisis, government and non-government parties alike are searching for ways to ease the pressure on tenants. One of the potential solutions is rent control, which would allow for capped rental prices dependent on income. Rent control dictates that a tenant pay 30% of your income on your housing. City West Housing are…
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Reserve bank leaves interest rates at 1.5%
In an unprecedented move, the Reserve Bank has left interest rates at 1.5% for the seventh month in a row. This was the first meeting of 2017 and it has surprised economists that the rates have stayed the same despite concerns about the housing market and the growing economy. The bank’s governor Philip Lowe has…
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Housing prices surge in Sydney and Melbourne
Housing prices have surged again, hitting their highest point since the early 2000’s. This represents the quickest annual growth seen on the housing market in over a decade. Unfortunately for first time owners, investment property buyers are buying properties in the countries’ two most populous cities, Sydney and Melbourne. This is due to the Reserve Bank cutting interest…
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Almost 150 properties up for auction in Gold Coast
In one of the biggest auction days in Australia’s history, nearly 150 properties went under the auctioneer’s hammer on Sunday. Ray White Real Estate Surfers Paradise hosted around two thousand people for the auction, of which over 330 were registered bidders. Of the 135 properties for sale, over half the properties were sold on the day, with 20…
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Sydney’s housing is second most expensive globally
Sydney has been ranked the second most expensive housing market in the world, according to a study by research company Demographia. The study ranked Hong Kong as the most unaffordable city in the world, followed closely by Australia’s biggest city. Demographia’s 2017 International Housing Affordability Survey comes at a time of great concern for the future of Australian…
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House prices surge through end of 2016
Last year finished with a sharp increase in house prices in capital cities around Australia. Although the growth in prices had been modest for November, December saw an 1.4% rise in residential property prices on average. Melbourne and Hobart led the gain, although prices Melbourne and Sydney surged the most throughout the year. In 2016,…
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Are the scare tactics regarding Labor’s housing policy too much?
Labor’s policy certainly moves in the direction of reducing the appeal of tax breaks for future investors who purchase established properties. It does so by removing the ability for new investors to claim losses on their rental properties as an offset to their taxable income, known as “negative gearing”. It also halves the tax discount on…