Struggling for a place to call home
New research out this morning from the federal government’s National Housing Finance and Investment Corporation shows severe affordability issues for first-time home buyers – and that’s before this year’s price surge. Looking at the year to June 2020, the bottom 60% of income earners in Sydney and Hobart could afford 10-20% of the properties on the market. In Melbourne, things were slightly better with the same income earning range able to afford 50-60% of properties that came up for sale. The report finds Brisbane to be Australia’s most affordable capital for those looking to get a foot on the property ladder where the bottom 40% of income earners can have a go at 60-70% of available homes. Government programs offering financial assistance to help aspiring homeowners crack the market have helped, the report says. Pass the avo toast…
Snap… Today’s Squiz Shortcuts looks at this very issue. Keep an eye out for it sliding into your inbox later today, and the podcast episode is out now.
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