An alarming 72% of Australians between the ages of 18 and 34 have given up the dream of home ownership, according to a survey by the Sydney Morning Herald. Overall, 63% of Australians believe homes have become unaffordable for young people, compared to 57% a year ago. And 49% of...
What does the federal budget mean for Australian real estate?
Treasurer Jim Chalmers has delivered Labor's first federal budget in almost a decade, in which he emphasised the government was making “hard decisions for hard times.” But despite this, there was one eye-catching announcement for Australia’s real estate industry: a new National Housing Accord, which sets an ‘aspirational’ target of...
Why higher interest rates might ultimately benefit homebuyers
The Reserve Bank of Australia might have raised the cash rate by 250 basis points since May to 2.60% – the quickest tightening in nearly three decades – but a senior central bank official has claimed higher interest rates could ultimately benefit new homebuyers. In a recent speech, Jonathan Kearns, the...
Should you buy in a falling market?
Spring is in the air. Alongside the warmer weather comes what is traditionally the busiest season of the year for Australia’s property markets, with listings numbers and buyer activity usually significantly higher than during the winter months. This spring season will be very different from the previous two years, with...
What would Warren Buffett do in the current property market?
Warren Buffett is one of the world's richest people and most successful investors. According to Investopedia.com, his net worth is listed at $100 billion as of June 2022. Buffett once explained why he and his business partner, Charlie Munger, had built such an incredible investing record over many years. "We simply...
Four tips to help with the cost of living crunch
The financial squeeze is well, and truly on, as rising interest rates, skyrocketing fuel prices and climbing food costs all take their toll. Few will be immune to the pinch, with new NAB research finding many Australians are making big changes to their spending behaviours due to the rising cost...
Australia’s home loan wars heat up
Home loan interest rates are on the rise, thanks to back-to-back cash rate hikes from the Reserve Bank of Australia that have seen the country’s official interest rate jump to 0.85%. The RBA’s move comes off the back of the fastest acceleration of inflation in over two decades, representing a...
4 simple ways to save for a home deposit
Given the median value of a home in Melbourne was over $800,000 in April, it’s no wonder that getting on the property ladder can seem tough. Your biggest challenge? Saving that all-important deposit – which can take years of scrimping and saving. But all is not lost. With a solid...
What can we expect from the property market in 2022?
Property prices rose by an extraordinary 22.1% last year, according to CoreLogic, and many people are wondering if the boom will continue throughout 2022. Nobody can ever say for certain what the future holds, but it’s highly unlikely prices will grow as quickly this year as they did the last....