The brutal truth on housing. Someone has to lose in order for first homebuyers to win

The brutal truth on housing. Someone has to lose in order for first homebuyers to win

Housing costs are a big problem for young people. Home ownership is falling fast in Australia, especially among the young and poor. Fewer than half of 25-34 year olds own their home today. Home ownership among the poorest 20% of that age group has fallen from 63% in 1981 to 23% today. At this rate almost half of retirees will be renters in 40 years time.

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Overseas Demand for Australian Property Falling

Overseas Demand for Australian Property Falling

Historically Australian government strategy, implemented via the FIRB, has been to funnel foreign investment in real estate into creating more housing stock. According to the report, that was the case this financial year with 85% of approvals being for new dwellings or vacant land for development. But we also know that there have been problems with compliance with this law due to poor oversight - many overseas buyers were simply ignoring the guidelines and buying local real estate anyway.

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How Gen Y Can Enter the Property Market with Less Risk

How Gen Y Can Enter the Property Market with Less Risk

The current housing price boom is leaving behind a generation of aspiring first home buyers, most of whom fall under that ubiquitous tag "Gen Y" (as if that whole generation is in identical circumstances anyway!). They may not realise it but this generation of aspiring investors is on the threshold of redefining the Australian relationship with real property.

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Two pictures of rental housing stress and vulnerability zero in on areas of need

Two pictures of rental housing stress and vulnerability zero in on areas of need

Separate research by National Shelter, and the City Futures Research Centre demonstrate the magnitude of the housing affordability problem for low income households. The authors conclude that housing affordability problems are multidimensional and extend beyond the capital cities. They argue that we need to bolster the economic and social capital of the regions so that they offer greater opportunity to the vulnerable households who have gravitated there.

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LJ Hooker boss outlines affordability solution

LJ Hooker boss outlines affordability solution

The appointment of Gladys Berejiklian as NSW Premier and her suggestion to review all options to address housing affordability should provide some optimism for a generation of young Australians who have a very real fear that owning their own home is fast (if not already) slipping beyond their reach.

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