An article in the Sydney Morning Herald (SMH) said the proportion of Australian families that rent has now drawn level with those who own their home outright, as young people give up the dream of owning their own home. ABS data shows 30.9% of Australians owned their home in 2011-2012, the lowest level on record and well beneath the 42% recorded in the mid-nineties. One in five households now spend more than 30% of their income on housing costs, a percentage the experts deem as indicative of financial stress.
1. Research & plan Before you consider selling, research the market, focusing on properties in your area. Is it a good time to sell? Where do you intend to move next? What’s your budget, including moving? You don’t need all the answers, but you should develop a clear set of goals … Read more
Federal Treasurer Scott Morrison’s second budget was delivered this month to Australia, with a range of changes for first home buyers, property investors and older Australians looking to downsize. Overall, the measures are designed to free up more development land and get first home buyers into the market sooner. Here … Read more