Australians are falling woefully short of putting up a decent retirement nest egg. It is a sorry statement on our times that about half the Baby Boomers may have to work well into their 70’s to honour their retirement commitments.
Superannuation may not be enough and anyway we are managing far too low (men only about $85,000 and women $58,000 wherein something like $350,000 is required to eke out a decent post-retirement living). Where does this bring us?
The construction of new dwellings is all set to get a boost even as renovation projects look to reverse the recessive trend of last year. An article on The Adviser talks about housing commencements in the vicinity of 180,000 in 2014.
Sydney’s high-density off-the-plan segment has given critics something to throw themselves at but any predictions about a looming crisis may be premature. A piece on BIS Shrapnel’s website confirms that the high density market is likely to remain as strong in the coming couple of years. A lot of this can be put down to high rental yields, low vacancy rates and interest rates apart from anticipation of capital gains.
An article on the website Your Investment Property talks about the present consumer sentiment index in Australia. While many are bullish about the signals the property market is giving, respondents in key cities of Sydney and Melbourne are much more circumspect in their response.
68% of respondents feel that now is a right time to buy. A generally positive response one supposes but nothing like the 80% recorded same time last year! The overriding fact is the change in perception- buyers thinking that most of the Australian property scene has developed into a seller’s market.
Interesting to note that 51% of respondents feel prices could rise in the next 6-8 months, a clear increase from 41% who felt so last year.
You can read the original article here.
Why do you think the number has dwindled from ‘80%’ to ‘68%’?
Australian Bureau of Statistics’s (ABS) property figures have dispelled any myth associated with the property market boom. If anything, the market is going strong and its intrinsic fundamentals are completely intact (at least as yet). Miriam Bell sheds light on the trend in an article for the website Your Investment Property.
What happens when population increases and petrol prices rise? Strictly in terms of transport, the cues are distinctly clear. More population means more vehicles on the roads and this implies further congested roads. Rising petrol prices would imply vehicle-owners’ penchant for driving for lesser hours- not possible in congested roads. This clearly illustrates why transport infrastructure is such an important pillar of the economic growth.
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