Australian retirees have shown a greater penchant towards accumulation of wealth, compared to their global peers. Their advice to the young brigade is along the same lines, says Michael Yardney in an article for the website Property Update.
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Value Growth To Slow Down in Sydney
Sydney will continue to grow but nowhere as illustriously as it has been doing over the past year. An article on the website Smart Property Investment suggests that property growth is likely to slow down to 4% and stay there for the next 5 years.
Years of Undersupply Behind Sydney Property Boom
Pete Wargent feels that long years of undersupply has to be blamed for the booming prices in the Sydney housing market. In an article for the website Property Update, he delves into both the sides of the equation.
Capital City Auction Clearance Rates Slip, Sydney Unaffected
While the auction volumes across the capital cities have given no reason to complain so far, auction clearance rates are turning out less strong than expected. In a piece written for the website Property Update, Cameron Kusher talks about the dwindling performance.
Which States Lean More Towards Borrowing?
Out of the 43,963 home loans financed in the month of January, 28% of loans have been sought by borrowers in NSW. Close on their heels are borrowers from VIC, standing at 27%. In an article for the website realestate.com.au, Venessa Paech informs us on the borrowing habits of the Australian citizenry.
In terms of average loan size, NSW’s $357,000 was the highest (NSW topping on two counts) followed by ACT’s $341,700 and Western Australia’s $320,300.
Miss Paech talks about the need to be savvy and adds that buyers should be on the prowl while comparing home loan rates and best offers- after all, the gap between the ‘best case’ and the ‘worst case’ on variable rate is as much as 4.5%. It then becomes important that the borrowers press the lenders as much as they possibly can.
You can read the original article here.
Sydney and Melbourne in the List of Most Expensive Cities
Venessa Paech feels we are not imagining things if we are feeling a little squeezed out living in Sydney or Melbourne. In an article for the website realestate.com.au, Miss Paech informs that these two cities have found their way to the list of top 10 most expensive cities in the world. While Melbourne is in a tie with Caracas and Geneva for the 6th place, Sydney ranks one step above.
The bi-annual survey conducted by the Economist Intelligence Unit’s Worldwide Cost of Living Survey makes comparison across 131 cities, using a repertoire of 160 products and services.
You can read the original article here.
Which between Sydney and Melbourne (if either) do you feel will become unaffordable in coming times?
