Owning your own home has long been the Australian dream but after years of strong house price growth it’s becoming less of a reality for many, this has major implications for retirement planning. The major factor behind the shifting approach to home ownership is the prohibitive price of property. Particularly in Sydney and Melbourne. Today’s […]
Housing affordability continues to be a major concern in Australia and not just for would-be first home buyers. It also affects pre-retirees forced to work longer to repay bigger mortgages and older Australians unable to downsize from large family homes due to a lack of affordable options. The latest 2016 Census revealed a gradual decline […]
Australia’s household debt is among the highest in the world and rising, thanks largely to worsening housing affordability and plentiful consumer credit. So how do we measure up and should we be worried? Most global comparisons measure total household debt as a percentage of net income. At last count, Australia’s household debt to income […]
Smashed Avo for breakfast or buying your First Home? Why not both? In response to the increasing house prices in Australia, parliament has passed new legislation allowing first home buyers to save for their home deposit (residential home) within superannuation. Saving a deposit to buy your first home can seem unattainable. To be approved […]
Australians buying their first home or downsizing in retirement are about to receive a helping hand thanks to new superannuation rules which come into effect on July 1 2018. From that date, first home buyers will be able to contribute up to $30,000 into their super fund towards a home deposit while downsizers can put […]