I think part of the issue is just that.The change in Australian occupied housing composition since 2006 is interesting.
Be far more interesting to see some more up to date data.
Mick
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It's definately a factor. Head costs have escalated drastically in recent decades as well. But yes, certainly in WA interstate money has pushed up prices.Actually, we Qlders, tend to blame the whole issue on Sydney propagating the disease
After they got priced out of Brisbane with loans, they ran to Perth and Hobart.It's definately a factor. Head costs have escalated drastically in recent decades as well. But yes, certainly in WA interstate money has pushed up prices.
.... I have a client who is a conveyancer for a large firm here who confirms this.
I've said they would try and pull this off for a long time, but it was the Greens who were talking about forcing retirees to downsize after covid.Time to review the family home's exemption from Age Pension test
Time to review the family home's exemption from Age Pension test
Improving housing mobility in Australia is crucial for enhancing both individual well-being and the economy. Potential reforms include ensuring greater rental security and incentivising downsizing among older homeowners.www.firstlinks.com.au
and folks like this just help the trend
don't come crying to me .. there were experts PAID to get you here , ( AND they want pensioners to 'reverse mortgage the house ' to help them pay the other bills )
will send you a tubular steel walking stick as a useful spare .. looks ugly but is unlikely to bend under unusual abuseI've said they would try and pull this off for a long time, but it was the Greens who were talking about forcing retirees to downsize after covid.
Instead of looking at why housing is so unaffordable and trying to fix that problem, they go to the low hanging fruit and the easiest way steal people's hard earned money so that they pass away bankrupt.
I've watched this unfold for a while, it's making families disassociate with their elderly members by making them move into areas where they lose all their social connections and then once they're isolated, the Govt jumps on their backs like a wild dog after their assets.
It's going to be more viable to end up in an Asian country with your money until it runs out and then come back and live off of the pension with nothing, at least you'll get some bang for your hard earned buck before you go out.
Hopefully, I go peacefully before this crap goes mainstream or I'll tell you all, I'll be belting anyone that comes within arm's reach of me with my cane walking stick.
I've said they would try and pull this off for a long time, but it was the Greens who were talking about forcing retirees to downsize after covid.
Instead of looking at why housing is so unaffordable and trying to fix that problem, they go to the low hanging fruit and the easiest way steal people's hard earned money so that they pass away bankrupt.
I've watched this unfold for a while, it's making families disassociate with their elderly members by making them move into areas where they lose all their social connections and then once they're isolated, the Govt jumps on their backs like a wild dog after their assets.
It's going to be more viable to end up in an Asian country with your money until it runs out and then come back and live off of the pension with nothing, at least you'll get some bang for your hard earned buck before you go out.
Hopefully, I go peacefully before this crap goes mainstream or I'll tell you all, I'll be belting anyone that comes within arm's reach of me with my cane walking stick.
Don't make me leave Australia quicker than I'd like to.How else is the government going to pay for all the election vote buying promises?
make .. NO , inspire you , sure if you can find a nice place , some destinations are already crumbling into craziness , some are running parallel to AustraliaDon't make me leave Australia quicker than I'd like to.
My friend's parents used to own an old shack on the hill just off Hastings Street but they got rid of it about 20 years agoFWIW
In the streets before our place, in a relatively cheap area, among the many new For Sale signs, yesterday was a new "for auction, mortgagee sale " or something of that nature foreclosure in the US.
Relatively uncommon in Qld.
A few hundred meters away a new SOLD sign, and nearer from us, 2 new For sale signs.in a street which has at most 20 houses.first for sale in the 2 y we have been there
To show you how cult like RE is in Australia ,even against my clearly stated opinion, my son is cruising the areas near the inlaws looking for his first house, while being in an under threat job, and paying a reasonable rental which is de facto subsidised by his landlord.
Banging head emoji would not be strong enough
LOLAre house prices about to take off again? As interest rates go down along with the share market.
Up to four rate cuts on the cards amid $100b wipeout
Australia’s sharemarket plunged 4.2 per cent in a meltdown driven by investors’ fears that an escalating global trade war will drag the United States into recession.www.theage.com.au
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Albanese 2.0 will set up a property price spike, new tax on super
HECS help
A key election policy of the ALP was the 20 per cent discount on HECS-related student debt. There is significant merit in reforming student debt because the move by the Morrison government to reprice education was shortsighted, narrowing the skills base of the future.
The news here is not so much the free kick for salaried professionals with high student bills, but the way in which this measure will stimulate residential prices.
Keep in mind, it coincides with another ALP measure that is to allow the banks to ignore student debt when calculating mortgage service payments. At a stroke, this means that a newly graduated generation will suddenly have increased borrowing capacity.
Coupled with the widening of the First Home Guarantee – not to mention lower mortgage rates – it’s only a question of how much the first-home buyer strata of the market will lift.
As Louis Christopher of property research group SQM said this week, prices in first-home buyer neighbourhoods could rise between 8 per cent and 15 per cent.
CGT could be curtailed
Speculation continues over what the government may do in terms of two key tax issues – negative gearing and capital gains tax.
As financial adviser Will Hamilton told the Money Puzzle this week: “Just because the government has said it would not introduce new taxes, it does not stop them changing existing measures.”
On this basis, the tax in the spotlight is clearly on capital gains tax (CGT) – specifically, the 50 per cent concession on the tax on assets held for more than one year. There has been efforts in the past to reduce this discount to 25 per cent. This proposal could easily reappear in the months ahead.
Market interference
Shane Oliver, chief economist at AMP, said this week: “The impact of the new government on the investment markets is likely to be minor.”
That is probably true for the ASX, except where the government’s interventionist style directly affects an unlucky listed company.
A case in point would be the ASX-listed miner Lynas Rare Earths. CEO Amanda Lacaze has openly criticised the government’s plans to stockpile rare earths, saying: “It seems to be the Labor Party proposes to buy rare earth products at uneconomic prices.”
She later added: “We in business wade into politics at our peril.”
She may not be the last CEO to call foul on market intervention from Anthony Albanese’s re-elected government.
A super tax shocker
The worst policy so far relating to investors belongs inside superannuation. The government plans to tax unrealised gains in super, and that plan just got a boost with the reshaped Senate indicating it will merely be a matter of the government doing a deal with the Greens to get the legislation passed.
As fund manager Geoff Wilson has said recently, it’s not so much the arrival of a new tax – an extra 15 per cent on amounts over $3m – that is the issue, but the nature of a tax based on unrealised – or paper – gains that is the sting. (There is already a 15 per cent tax on amounts up to $1.9m.)
If this shocker new tax gets up, it could easily lead to the taxing of unrealised gains becoming more widespread in the system.
What’s more, the opening position of the Greens is that if the government wants support for the tax, it must reduce the threshold from $3m to $2m – a move that would immediately widen the tax net to more than 100,000 investors. Without inflation indexing – which is not in the plan – the number in the tax net would become much higher with each passing year until the reality of an effective 30 per cent tax on super earnings would become commonplace.
James Kirby hosts the twice-weekly Money Puzzle podcast.
now i note in certain ( foreign ) nations Airbnb , is failing fast ( but NOT everywhere )My initial plan was to use it for a short time and then Airbnb it,
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