Only two of Australia’s eight capital cities have a median house price that can be afforded by an average single income, new analysis by Australia’s leading financial comparison website, RateCity.com.au, shows.
“Our analysis reveals a reality that many young Australians are now living; the impossibility of affording a median-priced house on an average salary in most capital cities,” said Peter Arnold, data insights director at RateCity.com.au.
Paul Bird from the REIV issued a media release that put a spotlight on those Melbourne suburbs where people should consider the economics of buying as opposed to renting.
We decided to visit Accrue Real Estate as it was the right time in our lives to secure something for our future. They showed us how to do it with property investment and it turned out to be easier than we first thought.
The property market for first home buyers is challenging. Prices are very high and incomes have not kept pace with the percentage rise in property prices.
Many young Australians and even older Australians, despair at ever getting into the property market.
We often read the property investment success stories in the media but there are mistakes that people who are looking to buy a residential property as an investment can make. What strategies do successful property owners use to accrue real estate?
Most property buyers will need a bank loan to buy a home or investment property. Knowing how the banks work makes it easier to qualify for a home loan.
Buying off the plan involves a little bit of insight and a whole lot of imagination. At the end of the day, you might end up with a brand new property for a great price.
You should always take interest rates into account when choosing a home loan or mortgage. Be wary that lenders may attract consumers with low rates for the first few term of a loan, but may charge much higher rates thereafter.
Tax depreciation can compensate you for natural wear and tear, or help you bear the brunt of maintenance, repairs and renovations. Both new and old properties can deliver you significant savings come tax time.
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