Sydney’s property downturn will be the sharpest in more than two decades, with median house prices expected to dip below $1 million in the coming quarter.
“If the pace of quarterly decline remains, prices are likely to dip below $1 million in the coming quarter. A six-figure median house price has not been recorded in four years.” “An influx of first-home buyer activity, affordability constraints and a targeted approach by the banks to reduce exposure to high debt-to-income borrowers supported entry-level demand.”House prices fell 1.1 per cent over the quarter and 0.3 per cent over the year to $563,666.Six years of continuous annual growth have come to an end, with Brisbane house prices coming to a standstill.
“As the two biggest housing markets soften, investor interest has migrated to other locations that offer affordability and steady capital gains.”Unit prices fell 3.2 per cent over the quarter and 1.7 per cent over the year to $426,719.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sydney's rental market is shrinking for people on welfareSydney's rental market is still too expensive for many people on low incomes despite massive numbers of new rental properties becoming available this year. Nigelgladstone get off welfare then !! Nigelgladstone We need affordable housing for first home buyers and renters. VoteSustainable Vote for SustainableAustralia auspol ausvotes ausvotes2019 ausvotes19 sausagesizzle democracysausage Nigelgladstone Just wait until Bill abolishes negative gearing and watch the rental market shrink...
Source: smh - 🏆 6. / 80 Read more »
Australia’s housing market is broken: Anglicare | Sky News AustraliaAffordable housing for low-income earners in Australia has become increasingly unavailable, according to new research by Anglicare.\n\nData from the advocacy group found that out of more than 69,000 rental properties across the country, only one would be affordable for welfare recipients.\n\n\n\n\n\n\n\n\n Yes Liberals have ruined the chances for average people to get a home.... But they have allowed Clive Palmer to spend millions on the election while those who worked for him didn't get paid and lose their homes. What’s the difference between social and community housing? It has been in the making for over 20 years Next government needs to make GST revenue for the states contingent on providing housing for low income recipients They also need to work on a universal income for all Australians over 18 & make TAFE affordable for all Australians again
Source: SkyNewsAust - 🏆 7. / 78 Read more »
NSW retains mantle as top state economy amid softening housing marketNSW has retained its mantle as Australia's best performing economy, equal with Victoria, despite Sydney's cooling housing market Early days yet in 2019. We need secure jobs via a more diverse economy. VoteSustainable Vote for SustainableAustralia auspol ausvotes ausvotes2019 ausvotes19 sausagesizzle democracysausage
Source: smh - 🏆 6. / 80 Read more »
Older Tasmanians have least choice in an increasingly unaffordable rental market: AnglicareOlder Tasmanians feel like they're being left behind as the rental crisis deepens, with the latest Anglicare report showing there are fewer rental properties available than ever.
Source: abcnews - 🏆 5. / 83 Read more »
A new frontier for Australia's international student marketA new frontier for Australia's international student market: A senior university vice chancellor believes the introduction of high-quality online courses will stimulate an untapped section of international students. But there is resistance to the idea uni edu is a backdoor to immigration The prof knew it but he is not saying anything Africa is dirt poor so good luck with his edu promo Edu agents in China is promoting PR visas for uni edu It is why PR demand keeps pushing up PM said he wanted to cut 7k/YR it is utter crap
Source: theage - 🏆 8. / 77 Read more »