Budget not enough to help affordability in Sydney, Melbourne, but good news for the rest of Australia
The budget's First Home Super Savers Scheme might alleviate some housing affordability pressures, but is unlikely to help first-home buyers who want to live close to the city in Sydney and Melbourne.
"If a family or an individual has a roof over their head that they can rely on, then all of life's other challenges become more manageable." Scott Morrison, 2017 Budget speech.
BMT Tax Depreciation believes that many investors pursuing a strategy of ‘rentvesting’ may be leaving thousands of dollars of tax savings on the table by not using tax depreciation.
The Property Council says the success of the 2017 Federal budget will be judged on the strength of its policies to address the critical economic and social issue of housing affordability.
Auction clearances indicate real estate market could be drifting lower
The auction clearance rate of Australia's capital cities was 74.6 per cent last week, virtually flat with the previous week's result. But Sydney and Melbourne's clearance rates are in a downward trend, says CoreLogic.