Home Loans & Mortgages

Buying a home for low to mid income earners is fast becoming an un-affordable dream Higher interest rates, over the top land prices and tougher credit rules conspire against first home buyers trying to break into the property market. Renting a home is cheaper, not rents are raising too A recent survey examinds the cost [...]

Those that are in a position to buy right now, need to shop around and drive a hard bargain. There will be plenty out there right now. Remember what seems cheap now may seem too dear if prices drop further as they have done in the UK and the US recently. Cash is King in this housing market.

In the US the average first home buyer is 44 and in Australia it was approaching 38 years old, but recently fell as a boost to the First Home Owners Grant spurred many young people to build new homes in 2009. Later figures are yet to be freely available, but I suspect that this has forced younger people into buying sooner and this would have meant that we are now in the zone wherehomebuyers are again creeping to 40 year old age bracket.
In the UK the figures in a survey showed 20% of potential first-time buyers expect to be 40 years old before they buy their first house.

Australia needs a national housing affordability strategy now to deal with an increasing home ownership and rental crisis, Labor leader Kevin Rudd says. Mr Rudd today said the Federal Government had failed to act on the crisis which was locking out first-home buyers and low-income earners from the housing market. He said Labor planned to [...]

Housing prices have trebled over the past ten years and wages have gone up maybe 50%?
A report suggests that two-thirds of Queensland families would not be able to afford a median-priced home, a new housing industry study shows. I do have some problems with this housing market report, and I’ll point those out in a minute. But it does highlight the fact that the dream of homeownership in Queensland has become largely unaffordable to Joe and Jill average first home buyer.