Society is changing and houses have become really pricey. Together, these facts have helped reverse the long-term Australian mindset of living alone. Matt Wade for The Sydney Morning Herald writes that the number of people living alone in Sydney had escalated in a big way between 2006 and 2011 but it has come down remarkably ever since. Except for the age group 55-74, the trend is ever so manifest all across Sydney.
There are various reasons for the shift in paradigm.
As a first, young Sydneysiders do not find ‘living alone’ to be aligned with the concept of independence.
Secondly, houses have become less and less affordable for first time home buyers and this has convinced many to continue to live along with their parents and save some money in the process. This has given rise to many a renovation, creating more personal bedrooms with attached bathrooms in parental homes. This has also contributed to the reduction in the number of first home buyers.
You can read the whole article here.
If you only work hard on your job, you’ll never get rich – that’s a fact! Michael Yardney, director of Metropole Property Strategists, discusses the importance of capital gains, how it can make you rich, and how to minimise risks. The US Internal Revenue Services reported that of the hundreds of big earners in America, 45.8% got their wealth from capital gains.
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Australia is living its dream of being the land of the largest properties but at the same time it is doing equally well for a horde of small one-bedroom units. Michael Yardney for the Property Update writes how such properties are appealing to the 4 chief types of buyers:
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