The 20% deposit and stamp duty required to buy a house in Sydney is $158,933, based on new CoreLogic data. That's equivalent to 20 years' worth of smashed avo.
Investor borrowing moderating, even before latest tightening measures
Housing lending to property investors softened in March, says Malcolm Gunning, president of the REIA, even before regulators and banks tightened lending to investors and before budget initiatives aimed at property investment were announced.
Rich-list developer Tim Gurner enters smashed avo debate
Successful developer, Tim Gurner, told 60 Minutes that young Australians can't expect to spend $40 a day on smashed avo and coffees if they want to buy their own home.
First-home buyers who use their superannuation to purchase their own home could end up with larger 'nest eggs' at retirement than if they continued to rent their whole lives, says the REIA.
National Australia Bank is the first of the big four banks to raise owner-occupier home-loan rates, lifting the rate by 7 basis points to 5.32 per cent.
Reducing the cost of new housing supply and tackling the deposit gap faced by aspiring first home buyers is the appropriate policy response to Australia’s housing affordability challenge,” says HIA Chief Executive Industry Policy, Kristin Brookfield.