Separate research by National Shelter, and the City Futures Research Centre demonstrate the magnitude of the housing affordability problem for low income households. The authors conclude that housing affordability problems are multidimensional and extend beyond the capital cities. They argue that we need to bolster the economic and social capital of the regions so that they offer greater opportunity to the vulnerable households who have gravitated there.
Read MoreAustralia’s New Endangered Species: The First Home Buyer
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Over the past 5 years in particular there has been a strong shift in the proportion of property buyers who are first home buyers – down from its historical levels of around 18% of the total market to only 13.2% in the September quarter of 2016.
Read MoreThe property market leading into 2017
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According to CoreLogic and NAB house price growth remains strong in NSW and particularly in Sydney. Reducing interest rates and market sentiment point to short term price appreciation but by mid 2017 we should see the effects of the record construction boom impacting property prices.
Read MoreFixed Rates Take a Sharp Turn
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Four days, four announcements – something is happening with interest rates.
So what does this mean for Australia borrowers? Well if you are thinking about fixing your home loan, right now may be a good time to do it – unless your lender has already moved.
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Loanscape has today released its Borrowing Capacity Index for Q4/2024. It confirms the forecast trend that borrowing capacities of Australian individuals and families are recovering from their low levels which coincided with the last of the recent increases to borrowing rates initiated by the Reserve Bank of Australia.