Sydney home buyers flocked to auctions on Saturday,as a shortage of new homes for sale drives up competition for properties.
Last year’s record-breaking run of rate rises has hit households hard,and they are even more likely to fall behind with every future interest rate rise.
The rental market is becoming even more difficult for tenants to navigate,prompting calls for better protections.
One first home buyer’s borrowing capacity fell from $1 million to $750,000. He hoped for a house,but now his options are an apartment - or a move interstate.
Regional house prices are unlikely to return to pre-COVID levels,experts warn. Many recorded double-digit growth,but some started to reverse.
Some regional towns have boomed 30 per cent in a year even as others start to cool,and experts warn the rush to the regions has permanently lifted prices.
Australians have spent big upgrading their properties with pools over the last few years,but does it really translate to a higher sale price?
House rents jumped as much as $70 per week in some regional areas amid record low vacancy rates,which are driving strong competition for properties.
Unit rents soared 18.6 per cent in a year and are tipped to continue rising,prompting warnings of increased inequality and homelessness.
Melbourne renter Emily Shoobridge spent six months couch-surfing because she struggled to find a home amid Victoria’s rental crisis,before settling on a studio in the CBD.
Installing a pool can increase the resale value of a property and improve its owner’s lifestyle – and for a short period,it became more achievable than ever.