First-home buyers are likely to struggle even more to get a foothold on the property ladder this year as higher interest rates, rents, and cost of living conspire to reduce their capacity to save and to borrow.
Affordability for first-home buyers looks set to become a tug-of-war between higher interest rates, higher rents and cost of living, versus lower house prices and smaller mortgages.Vacancy rates this low strongly favour landlords and their ability to increase rents. Affordability improved slightly in February – the latest available data – as property prices in both cities fell slightly.Sydney dwelling prices were 0.2 per cent lower in March, following a decline of 0.1 per cent in February, figures from CoreLogic show. Melbourne prices were 0.1 per cent lower, following no growth in February.
Gst on any investment property would start a quick fix
With zero thanks to media like SMH revving up the property bubble every bloody day.
It was a one year boom, not two.
Thanks Captain