More Australians in the grip of a tightening housing crisis are turning to single rooms to keep a roof over their head, but there are now several suburbs across major cities without a single spare room available. Demand for flatshares is booming, with an 11.2 per cent increase in peopleContinue Reading
Short term rental owners have hit out at the Victorian government’s new 7.5 per cent tax on short stay accommodation announced yesterday as part of the Andrews government’s Housing Statement. Among the criticisms are a lack of detail over how the tax will work, a lack of consideration over howContinue Reading
From the 1940s radio addresses of Liberal Party founder Sir Robert Menzies to the legendary film The Castle, ideals of ownership of the family home have long been central to everyday Australian life. But in the almost 60 years since home ownership rates peaked back in 1966, the role ofContinue Reading
Anyone who has thought about purchasing their own home in recent months would know that it is no mean feat – particularly for first home buyers. Rising interest rates, inflation, the cost of living crisis and soaring house prices are just some of the many factors making it harder thanContinue Reading
Buying your first property isn’t an easy thing to do, and with property affordability at all-time lows around Australia, it’s not getting any easier. But at the same time, apart from some short-term blips, the property market keeps going up – so the longer you wait, the more you’ll needContinue Reading
The Reserve Bank has offered millions of Australian mortgage holders a brief reprieve, deciding to leave the cash rate at 4.1 per cent for the time being, sparking warnings further hikes could be needed soon. While still at its highest level since April 2012, inflation was trending downwards on aContinue Reading
Australia’s property market is shaping up to be quite soft throughout 2023 despite a small rebound in listings. There was some renewed energy in markets across the country throughout May according to the latest listings report from PropTrack; however, activity is still “more subdued” than last year. New listings onContinue Reading
A plan to extend the stamp duty exemption threshold for first-time buyers in NSW has sparked a major issue – you’ll have to move out of the city. Sydney’s northern beaches, eastern suburbs, Baulkham Hills and the Hawkesbury are the most difficult areas for first-home buyers to purchase in, withContinue Reading
A Melbourne student apartment has been dubbed a $350 per week “prison cell” after grim photos of the tiny room were posted online. The $1391 per month rental at 500 Flinders Street was shared on Facebook as a lease transfer, touted as being next to the tram and “walking distanceContinue Reading
The rental market has never been more unaffordable for Australians on welfare and low incomes as supply dwindles and weekly costs skyrocket. Australia’s rent crisis continues to deepen with many households finding it impossible to access affordable housing, according to Anglicare Australia’s Rental Affordability Snapshot. The report examined thousands ofContinue Reading