Financial News

Just six months ago, Belinda Horgan and her family rented a large four-bedroom house in Botanic Ridge, a pocket in Melbourne's outer south-east. They now face the prospect of sleeping in a car or rough on the streets after health issues rocked her family. No longer able to afford their house after her roof plumber partner was injured, the couple unsuccessfully applied for about 50 rentals and settled on a house in Doveton. Upon moving in, it was full of…
Rental payments are taking up a greater proportion of household income, while mortgage payments remain in line with the historical average, which could boost housing demand, a global bank has said. Deutsche Bank’s Australian Housing Update has found that Australians are now paying 13.5 per cent of their household income on rent, up from the historical average of 12.8 per cent. However, the bank also found that mortgage repayments (as a percentage of household income) remain in line with the…
The need for stamp duty reform in NSW has never been more urgent, according to the head of a major real estate franchise. Following on from the NSW planning minister flagging an overhaul of the state’s planning system, Laing+Simmons managing director and REINSW president-elect Leanne Pilkington has reiterated that the key to tackling the state’s housing shortage is abolishing stamp duty. “While the industry would welcome measures that improve the planning system, through more efficient approvals and better consultation with…
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