Where will Australian house prices go in 2022? | ABC News
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- Опубликовано: 29 май 2024
- How long can the property boom last? What can you do to make sure you don't offer too much for your next home or investment? We get top insights from economists, housing analysts and real estate agents. Presented by Alicia Barry.
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It started a long time ago with the "commodification" of property (equity mate), rather than houses being places for people to live in.
I would give this comment two thumbs up if I could
Yep; take equity out of the house to buy that boat on that ‘which bank’ commercial! We recently became mortgage free…happy to have done without the boat and 4WD.
@@blondspike74 Bank "clients" are viewed as as income streams in the modern world with a great reliance on the banks part to retain them and on peoples general unwillingness to move elsewhere.
@@johnstirling6597 that’s true. During the 00’s my ex partner and I were both well paid public servants and our bank couldn’t be quick enough to lend us crap loads of money for investment properties (thankfully we bought in Brisbane and not mining towns as some did). The ‘sign up’ was so easy. In hindsight; too easy and suspicious!
Yeah, like thousands of years ago. Even the Ancient Greeks and Romans profited from property.
‘’Courage taught me no matter how bad a crisis gets ... any sound investment will eventually pay off."
Making it out at a young age is quite difficult. I started a side hustle at 17, saved up and made some good investments. l'm 28,live on my own and having a good life for myself. Big ups to you and everyone out there trying
Sounds like plan, how do you put money to work?
@@twinfred3160 Yes it sure is. I put in money in investments and get profits. That 's how I make more money without working. This does not sound new to you right ?!
@@casinosimsek2027 Thanks for replying me, I've heard so many people talk about investment but none had said how to do it right.
Am hoping on you can explain more on how you make extra income from investments
First home buyers should be fairly prioritised over investors if there is multiple interest in an available property. It's disheartening to look at properties online and see them under offer the very next day because an investor has jumped in immediately with cash. How does anyone even have a chance?
It would be hard to police such a thing
They can remove the tax benifit for investors for a start. Even move it to owner occupiers, or even better, increase land tax on investor properties. Negative gearing enables investors to increase the loan qualifying amount - this is their advantage.
For the past 4 weeks I’ve been making short funny news edits mocking the pandemic and pointing out the lies and hypocrisy
Have a look if you want
For the past 4 weeks I’ve been making short funny news edits mocking the pandemic and pointing out the lies and hypocrisy
Have a look if you want
The best way right now to reduce investors from hoarding on properties, and have more owner occupiers in the country, is to introduce a tax that will tax people/companies/entities the more properties they own (say 3 or more). Imagine how many properties will sell causing the market to return to some affordability, or even imagine those who are renting their current home to be offered by the landlord to buy the place at a reasonable price.
A house is a home and a fundamental human need (shelter). It shouldn’t be an asset for investors to speculate.
Remove negative gearing on existing homes (only allow it for new builds) and watch affordability improve.
All new builds will be unaffordable.
most people have put their life savings into their property you ain't seeing any affordability anytime soon
@@itsBEZZyo
That was also true in Ireland, Japan and everywhere else that had a realestate crash.
Don't stop there. Remove the CGT tax discount for residential properties.
And have balls and do it RETROSPECTIVELY.
I have a share portfolio and if government policy change causes my portfolio to fall in value, I get no sympathy. And I fully understand this. Property investors should get no favours.
@@2LegHumanist New builds would be unaffected, since the only new builds investors participate in are high rise units, rarely do they build standalone homes which are exclusively paid for by owner occupiers. Investors prefer to outbid potential occupiers for existing homes.
Weak journalism not dealing with the poor government management and lack of planning. Common abc, step up, Australia needs our politicians held to account. The current inquiry into housing supply is a massive waste of money.
And a waste of time. They need to take action same as NZ
ABC is owned by government
Exactly , the ABC are press agents for the government. Do you think you could get employed by the ABC if you had libertarian proclivities?
@@roughhabit9085 The ABC is supposed to be impartial
You swallowed Liberal scare campaign against Labor. Last election they would have cut back negative gearing and CGT. But punters voted them out!
Most times it amazes me greatly the way I move from an average lifestyle to earning over 63k per month, utter shock is the word. have understood a lot in the past few years to doubt that opportunities abound in the financial markets, The only thing is to know where to focus.
@RONATO Johnson Anyways not actually, what I know about trading almost borders on zilch lol. I make huge profits on my investment since I started trading with Mrs Debbie Ramirez, her trading strategies are top notch coupled with the little commission she charges on her trade.
@Febian Jones My coin stays right in my trading account, my account just mirrors her trades in real-time that's the idea behind copy trading.
@Febian Jones Sure, meet her up on Telgram...
@Febian Jones Managerdebbieramirez
@Febian Jones here is her official What's App info also...
As a millennial I’m disgraced at what this government has done to us younger generations can’t afford to have kids as we need to both work just to be debt slaves for the next 30ys to buy a million dollar shack no house with 3 bedrooms should be more than 400k like 20-30yrs ago me and the misses Have decided to move overseas better life Australia is done for the young.
should've invested in crypto, I've made 2 mil from 20k in a few years lol
Well we have thriving bureaucracies in this country and that is always going to undermine the quality of life and living standards of it’s citizens.
Take solace in the fact that this enormous real estate bubble has been fuelled by printing insane levels of cheap money and when it pops you can’t get wiped out if you don’t have a house.
Frank where did you move to or will?
Lol That's on you bro, I'm 30 and have 4
It ain't the government
There's plenty of affordable houses out there. We moved just over an hours drive southwest of Sydney and we couldn't be happier. Good schools and plenty of space for the kids. It's a much better lifestyle.
We're seriously stuffed as a nation. People are up to their eyeballs in debt, the amount of people who are renting has increased, climate change is on the way and will pose risks to all industries meaning people could lose their livelihoods. You have people scrimping and saving for a deposit and even when they buy they're probably still scrimping because the COL of everything has gone up due to inflation. Everyone seriously thinks houses are worth $1 mil when interest rates are at 3%? Why not $600k at 3%? People seriously have no idea what the value of their money is anymore. It's just an idiotic frenzy driven mainly by greedy investors.
What's gonna happen when rates rise? Idiots who have spend $1 mil on a house are going to feel the pinch even more and spend less in the economy so our economy will tank. People won't have any savings outside of super by the time thy retire so they'll have to rely on the pension. Why are people spending so much money on their house FFS? Talk about destroying your life. I'm sorry but if you've spent $1 mil for an average house then you are a freaking fool following the market. If I went to the market and apples were $100/kg would I buy a freaking kg of apples? No, because it's NOT WORTH IT.
The part about guarantor loans being 3x more likely to default is just mind-boggling. Now their parents (who I would guess are nearing retirement age or retired) are liable for the loan?! WHAT HAPPENS WHEN RATES RISE AND PEOPLE DEFAULT BECAUSE THEY HAD TO RELY ON MUM AND DAD? WHY ARE WE IN THIS FREAKING MESS WHERE PEOPLE CAN OWN 10+ PROPERTIES AND OTHERS HAVE SUCH A HARD TIME BUYING ONE TO LIVE IN????
The government. Greedy , A mansion water views in Auckland cbd 3 Milllon
I don’t get it. Why would rates rising mean people pay more interest if they have a pre existing mortgage ? If in the US you take out a mortgage for 2% and the next month it jumps to 7% unless you have an adjustable rate mortgage you have a 2% interest payment for the rest of your life. You can get it readjusted if you borrowed at let’s say 5% and rates go to 3% you can apply to get it changed and lowered but it never usually works in reverse
@@LucasFernandez-fk8se Rates are not fixed in Australia over the life of the loan.
Real estate puff piece. Really sick of hearing from all these 'experts' who find all kinds of ways to say the same thing without actually ever mentioning the government policies that have created this perfect storm. Why not show the families that are RIGHT NOW struggling to find a place to live let alone buying or investing. Sick of this crap.
Well said Zoe! This is successful boomer policy. We don't need advice from wanks stains (i.e. unsophisticated real estate agents in cheap suits), we need a fair society. If u are suggesting that we riot, I'm in 😀
Here here
Rioting sounds good
I've saved over $115,000 and I still can't afford a house in Qld. This market is ridiculous
You might need to smash it into the ASX casino for awhile
Just kidding that's probably not a good idea
Always start with something small
Same problem in London uk. Absolutely the biggest joke in life.
YOU ARE ROOTED, MOVE TO BUSH
Good time to sell, nothing worth buying now.
Everyone can thank the australian government and the RBA for unaffordable house prices..
I guess that's why they call Australia the lucky country cause you gotta be lucky to get into the housing market.
There are plenty of 3brm houses and townhouses in Brisbane for under $400k
Across all of Australia for under 400k, might just have to live somewhere different to Sydney and Melbourne yeah.
@@JC-ek3tn agree. There are 300 LGAs in Australia, just don't live in Sydney or Melbourne
@@Birch37 Where?
Open domain on map view, set limits to 400k, scroll out to view the whole state, press search and hundreds of properties come up. This should be able to show you where.. in your state. And every state has houses under 400k. You start where you can and work up. Anyone can do it
Good to see Martin North on here. More people need to watch his RUclips channel Walk the World to understand what is going on in the housing market.
Gig economy and all these ''contractor'' ''jobs'' that used to be actual jobs is also changing the face of Australia. A postman, for example, used to have a proper job and be able to afford a house in the suburbs and a family. This is now a sub-contractor job with little stability and running your own business. An NO foreign ownership - that's just stupid for a country like Australia.
"Running your own business" while being at the mercy of another...
it wouldve been easier being an aboriginal 10,000 years ago. they didnt have to worry about a thing called "money" and work for 'money'. they hunted when they were hungry and lived a peaceful, stress free happy existence pretty much. these days people have to hope to get a good enough job with good enough pay and then work 50+ hrs a week for a shit lifestyle to hopefully get a shit house built by a criminal property developer that falls apart from poor workmanship, what a great modern life.
I bought my first home in 1973 for $12,000. At the time I was earning $3,000 PA. So the home represented 4 years income.
Today's prices are insane.
In a way, prices are insane because people who "invest" don't plan to repay their loans: they just "buy" property through a game of shuffling paper equity, riding low interest rates, and accumulating more paper assets.
It's all digital and paper net worth, nothing concrete at all. From then on, anything goes.
Still, I wouldn't want to be in these "investors'" shoes: the amount of stress, insidious pressure, and mental health issues they face on a daily basis will eventually take a toll on them. No paper money can buy you peace and time.
its hard to do all this dudilegence on properties when they have a small window before they end up being sold. I could barely do much research or insight into some homes because there was too many people offering and the deadlines were within 2 weeks
We bought our first in december 2020. We walked in, I put an offer in when i met the agent in the house. I didn't see the house. We found out about it after the building inspection. I saw the house when we settled. On one low income family we did what we had to. We just wanted safe for kids. I paid for core logic And used that before inspections for price ranges etc. But after losing to so many others in inspections I was over it. We are legit feeling blessed.
@@tessajones9393 yeah ikr i seen people rushing to grab the sales agreement and signing on the viewing day. no proper checks of the house.
While i think negative gearing should be gone, other countries without negative gearing still have unaffordable housing prices. So while its a factor it's not a silver bullet.
I’m rural & all the Sydney people came down because of lockdowns. It’s pushed house prices up & rentals are up too. Houses sell within a week now….
Auction helps pushing the market to the extreme (sales agents are motivated to show the much lower indicated price to manipulate the buyer emotion; Auction can only create extreme fluctuation & volatility which is wrong - auction should be regulated or even banned from the residential market). Secondly, to avoid money laundry using Australia property as the tool (Australia is one of the easiest countries for foreign unknown money flooding in for property without restriction ... a good news to the eg. Chinese officers keeping the corrupt money abroad!). Let alone negative gearing, it appears Govt is happy to see the property price going sky high (with NO regulation) for whatever the unspoken reasons.
6 acres
4 bedrooms
2 bathrooms
Large shed
Elevated house $920,000.00
The LNP has killed the Australian dream in most of the country.
I’m 25 and a lot of the people I know are just committed to staying in the rental market because owning your own home just seems more and more unachievable as the months go on. It’s hard enough just finding a place to rent let alone trying to actually buy something for yourself
Does your government care about housing affordability?
@@missjazzytan nope
Rentals are out of reach
@@missjazzytan they do and don't. The issue is complex, just building houses isn't going to fix the issue, so whether they're affordable is only the first issue.
You don’t have long to wait . The property bubble is bigger than 08 . Listen to these guys speculating what the Reserve Bank will do lol. They copy and are in lockstep with the dumbest kid in the class - the Fed . With every man woman and child in the US in debt to the tune of $90K , how long do you think they can keep going? Their dollar will collapse and we will go down with them.
not to mention the rental market being over flooded and leaving people who actually NEED rentals e.g. young professionals and students fighting against older people who SHOULD be buying but can’t
There's nothing "in-depth" about his episode at all. More like "on the surface".
Wow the system is so leveraged...
They can't raise interest rates in fear of inducing a recession.
Won't have a choice if inflation gets out of hand
I’m sorry are we supposed to feel bad for the bald dude who’s having a hard time finding a third house?
Ikr? Poor people with 2 houses can’t afford a third to rent to a poor immigrant family.
When you have politicians owning an average of 5 properties with some up to over 30 properties. Why would they want the prices to come down. They have to keep the gravy train going and with there buddies at the RBA and Banking chums lets not forget other mates APRA and ASIC. If they were to disclose all there assets and donations, funding etc coming from you will be horrified how corrupt the entire system is.
Oh it's just politicians owning more than one house? But not the many many investors who buy houses and drive up prices? What nonsense are people here spreading?
@@Fragenzeichenplatte Investors are part of the problem, which is driven by the RBA, both sides of government, the regulators, developers, real estates and media. All are in the same bed preaching the same narrative.
@@Fragenzeichenplatte It's everything but it's starts with the government allowing huge loans and low interest rates. They cause buying frenzy's and more competition which drives up prices and of course you have middle men like real estate agent's getting their piece of the pie. Also old home owners want as much as they can get when they sell for retirement ( can't really blame them though but it doesn't help)
@@frenchonion4595 Hmm why are the home owners the only ones you cannot blame?
Economist also said there would be a property market crash three years ago and the opposite happened. They rarely get anything predictions about house prices right.
It’s true , the loan/debt cycles have been getting bigger and bigger. Governments have been innovative in expanding bubbles, but bubbles is what they are . They will pop soon enough.
What economist?
@@roughhabit9085 It would be true if they didn't print trillions of dollars during the Pandemic. Now the bubble just getting bigger and they are facing huge inflation. They have a choice to crash the economy to curb inflation, or continue to print and let the inflation run away. Either way, it's no walk in the park. So buckle up and get ready.
The pig government will do anything to drive up prices and make life unlivable for young and poor people, liberal and Labor suddenly turn into hardline socialist interventionists when it comes to housing, socialism for the rich that is.
The root cause of it all is the RBA. House prices ain't going up, it's your devalued Aussie dollaroos that's loosing it's purchasing power.
"Thousands with 6 properties on negative gearing" wow, without the tax cut for those they would collapse so hard.
Wait for rates to rise
@@packageism They'll just raise rents mate. Landlords don't give a stuff about anyone except themselves. Most of them don't even bother fixing issues in their properties, it's a joke.
First of all rates are not going to rise until after the bubble pops and secondly a landlord can only raise the rent until such time as they have a vacancy.
@@roughhabit9085 No, rates actually will rise. The US Fed has signaled a rate rise in March. If you know anything about macroeconomics you’d know that when the US raises rates we have to follow otherwise the value of the AUD will drop and imports will become more expensive. Rate rises are also used to curb inflation, and if you’ve paid attention to the news you’d see that inflation has i increased in Australia.
Saying “a landlord can only raise rates when they have a vacancy” doesn’t disprove what I said about them raising rates.
@@Spacemonkeymojo Spot on correct.
A successful working couple will never compete with a lazy person with a house.
How did the lazy person get a house that a successful working couple would want?
@@Fragenzeichenplatte policies the government in power has implemented such as negative gearing.
@@Fragenzeichenplatte anyone born between 1946 and 1975 enjoyed cheap houses, which were only 2-4 times the average salary. People paid off their house and debt-free. Their house soared in value due to the wealth effect (the more your house is worth the more likely you are to spend in the economy). Property soars every time there’s a potential downturn in the economy. Some houses went up 50k a month during the pandemic.
@@stevemolloy2747 "wealth effect (the more your house is worth the more likely you are to spend in the economy)"
Is that true? Wealthy people don't spend that much relative to the money they make.
@@Fragenzeichenplatte however it tempts them into buying an investment property, an extension to their house or an upgrade to their kitchen/bathrooms.
Up. Housing prices always go up. The Australian government will ensure that this happens by restricting supply of land and promoting demand.
That’s not how they do it at all . They do it by deliberately being fiscally reckless. This ensures a deficit and that deficit gives them a green light to print money which they do in order to deliberately create inflation .
With a slow growing population like ours and the deflationary effects of innovation and technology, then without the government undermining the economy, house prices would not rise !
such great journalism, letting a property auctioneer talk uninterrupted and unchallenged for 5 minutes at the cost of the tax payer.
Having a bigger market makes houses cheaper, getting incentives out makes houses more expensive.
Tonne of work in places like Emerald and Gladstone where you can also still afford to buy while you earn.
keep the money machine working lol
Is it even worth buying a house anymore? Seriously. I ask myself that question all the time.
Yes, you have to live somewhere and your rent will be the same in a few years anyway, that’s if you still live in that same rental….
In reality & mathimaticaly house prices should have gone down by at least 33% during covid (less population, migration & births. While more new houses) but they are more than 16% higher (In the most locked down city in the world).
interest rates
Every one wants to jump on for the ride , until it goes the other way .
Well done Alicia, great reporting showing many aspects to the market
Supply needs to increase exponentially..
Wages have not gone up worth a mention in donkeys years. No one is saying lets give aussies a pay rise. And yet we are squeezed further and further with everything around us increasing .
Blame government for that gst & excise taxes
People are buying with emotions and not looking at the numbers to make an informed decision especially first home buyers.
Greed greed greed
Migrates to Australia, advocates everybody should do the same then declares she can't afford to buy
bingo, brown people love to change western countries demographics into their former countries and are oblivious that that inevitably causes higher costs of living due to all the dependents and lower standard of living. They'll just move on to the next western country when that happens. No loyalty
It’s not good news for home owners, the cost of upgrading is impossible
This nation has run into the danger of putting nearly all our money into property. This produces less innovative, less entrepreneurial risks and very very high debt slaves. This is not good for the broader economy. Yet our wages go backwards. Slowing immigration significantly will help until the homes and infrastructure have caught up.
But at least the few get rich, right...? /s
4:28 Imagine believing what a property appraiser has to say about this 😂
It's like listening to S&P in 2007
He does have sharp suit on and a cool hairdo so he must be honest,lol
And the last 5 mins examplifies Investors and the issues with rental properties not being available and billions $$$ in new building
To infinity and beyond!
remove negative gearing and make it progressively more expensive the more properties a company or individual owns. Otherwise we'll end up in a situation where the majority are forced to rent, never able to build equity on a property because they can't afford a deposit due to wage stagnation and higher costs of living, and an elite minority are sitting on a bunch of properties being paid off by said renters. It's a genuinely scary future to picture, and I know people are hesitant to abolish negative gearing because home owners want their properties to go up in value, but I think treating housing as a speculative asset and not as an essential shelter everyone needs is a dangerous attitude to have in the long term.
You do realise removing negative gearing will have a significant ripple effect on the entire property sector, in the opposite direction of what you have implied in your comment above?
Investors will simple increase their rental income to make the properties positively geared, and this increasing the costs for renters, further delaying their deposit to a size high enough to buy a property of their own!
@@Gamer_Marcy_God It will cause investors to dump properties, => cheap houses for occupiers to buy.
Threat of investors increasing rents is nonsense. They can do that today, whats stopping them if its that easy?
No, in reality if a landlord increases rent his house will go unoccupied, other landlords will steal his clients.
Rents are dictated by the market, not landlords.
Labor took removing neg gearing to the last election but lost. Liberal scare campaign from the party that lies to you.
@@Dont_Gnaw_on_the_Kitty I know, I voted for labor. The problem is with the lack of media diversity in Australia. Fairfax and Murdoch control the narrative
@@Gamer_Marcy_God that didn't happen in new Zealand , there less rental and more homeless
Hence the reason why I am leaving the country. If your under 40 and can work online, I suggest do the same. 10 times cheaper in Bali
Do what work online?
I was looking into this. Why under 40?
Although I might be laughed at on here, I was an Accountant up until recently, looked at the prices and said "yeah, nah". Just too much future volatility and without a family I have no need for a standalone property. I now have spent 100 nights in my car, my only thing to have purchased "brand new". I have good super, enough to take advantage of the 40% up to $50,000 thing, but Super has outperformed housing, and is likely to continue to do so.
these are not houses. these are space ships....
I mean we are hurtling through space at tremendous speed and all...
GET YOUR SPACESHIP NPW
Interesting. I think it’s the first time that I actually see houses in Sydney in less than $800,000. I thought they were all now in millions. I would say that today is relatively cheap, probably because people are moving to Brisbane? 🤔
Denise are you sure you found houses in 800k? In Sydney.
Can you please give those suburbs?
You're hot, instagram link?
All I’ll say is buy something that includes the dirt…don’t buy a box of air in the sky that will leave you with uncapped bills…move further out if you have to.
Boring re-run of same story. Time for RBA to raise rates and burst the bubble
When the price of housing crashes by 50% then we may begin to have a sane and humane housing market
First home buyers who can't buy a house. We have an adequate deposit. Our mortgage would be cheaper than our rent. We keep getting knocked back for not being able to afford a home loan. While we wait to be approved (and keep getting knocked back) the house prices keep rising. No wonder first home buyers can't get into the market these days....
SOLUTION: 100% tax on housing appreciation beyond the CPI to prevent speculators using housing as a financial investment. $15,000 annual tax for all empty bedrooms and bedroom "offices" in cities. $15,000 annual tax for retired pensioners to live within 40 minute commute of major cities that have lots of jobs thereby forcing young families to commute and create road congestion because they are priced out of the job markets. ZERO ownership of any non residents in a city. ZERO foreign money in residential real estate. They can lease, but not own. Get rid of all zoning laws preventing apartment buildings and eliminate all corporate taxes on construction companies. PROBLEM SOLVED. Also for real estate matters, the vote needs to be weighed and a group that represents children should get a massively weighted vote in favor of the under 18 and the under 30 that simply don't show up to vote becasue registering to vote is difficult when your moving between rented apartments every year unlike the boomer homeowners that show up in higher numbers because they live in the same voting district for the last 30 years and don't have to move every year to find a new appartment thereby changing the district you need to register to vote in. Can't tell you how many times some 75yo boomer told me they couldn't find my voter registration card when I went to vote because of "clerical" errors of it being sent to the wrong location because I moved every year. This drastically suppresses the votes of non-homeowners compared to home owners so our interests are further ignored by politicians. Also get rid of mortgage tax deduction for all non first time home buyers and audit the people buying investment homes to make sure they are not renting but claiming it.
Maybe it’s time young people stop looking at Melbourne,Sydney, Brisbane as a first home option. Still plenty of affordable houses outside of the big 3 but no one wants to work or live outside of the action . People don’t want to get into the market and work there way closer to cities over the years.
Ahh yes. Young people don't need to live near work. Of course.
Blame the young that have never had a chance to start. Most young people cannot afford to buy regionally, and would be in a worse position taking a lower paid job to relocate
Live in NZ it cheaper , mansion water view 3 million in Auckland cbd
This is worrying, everyone is getting greedy and history tells us what will happen when everyone is greedy (2008 crash)
The government greediest in a left social democracy country
It feels like a joke saying cutting these tax rates/-gearing would hurt the economy. Since now we have lazy investors causing unessesary inflation, by just buying houses and distroying the economy with what can be called as dead money. Where if they make it tougher on them this will spark creativity innovation and improve diversity in various employment sectors it would also encourage development of new medium and large sized business which would reduce unimplpyment. This idea of keeping house prices high feels outdated I mean back then when Australia was new and unpopular before 21st century increasing house prices boosted confidence of international investors. But now we are at a point where we can self ride our economy. Now no matter what happens international investors will not go away sure may reduce but at least some of them would start or expand campanies instead. We have already developed a prestigious unique housing market unlike any other in the world if some investors leave, then this pushes prices lower but then soon more first home buyers start buying then once they buy houses and pay morgade faster they start spending more and more earlier which keeps the economy going. Then new investors would come in and take opportunity of more new home buyers buying houses, then housing market would resume going up, just instead of doubling every 5 years it may double every 7-8 years. Oh and it would increase renting prices but on the bright side increase our workforce less unimployment which makes people still afford it equally as now.
Perhaps what is needed is a strong and aggressive rental lobby. Their demands could eventually make investment properties undesirable and only then would prices come down as investors turn to look elsewhere to park their excess ill gotten cash.
lol… already happening and it will only drive rents as supply dries up. Vic has had a mass exodus and yet there is now a rental shortage due to investors selling to get away from laws that favour tennants.
Why shouldn't laws favour the people that live in the home rather than disadvantaged people with no choice but to rent pay up to 50k per year for the privelage of living in someone else's 'investment'?
@@kuro3059 not saying they shouldn’t at all, just noting the consequence of tilting the deck in the favour of the tennant, that the people supplying the bulk of the homes to the rental market currently (usually mum & dad investors) become so disincentivised that they’d rather sell. These are rational actors, they can only be compelled by legislation so far before they decide the juice isn’t worth the squeeze…. the fallout of this is now evident with a rental crisis in a state which people are fleeing like drowning rats. unthinkable but predictable. Atlas shrugged.
What about forbidding the government to buy it’s own treasuries? What about demanding that the government is fiscally responsible?
@@deanopumpkin That doesn't make sense, when an investor sells, where does the property go? It still sits there..
Rental prices are related to job opportunities in the area, if everyone wants to move there, rentals become scarce. There's really is no other factor.
Investors have no influence on rental demand. They do prevent people from ownership and "cause" renters.
They never talk about byron tweed areas
I basically have to wait for someone to die to ever get my foot in the door
where will they go...we don't know. the experts don't know. the media definitely doesn't know.
end show
Same story in America, the North is moving South and investment firms are buying entry homes.
Auction should be illegal. It only benefits the chinese investors, Aus will be owned by the chinese if you let it.
Investors will invest in anything that is desirable and holds value for a long time. Housing does not just hold value for a long time it increases depending on the area with supply and demand a big factor too. Houses should be for people to live in not used as a bank vault. This is the problem with unregulated free markets it allows a crucial sector like housing which is critical for shelter and quality of life to become an unobtainable dream for most of the population, this is why Capital gains taxes were introduced in the UK for people owning more than one property. This was meant to slow down Landlords and Investors owning too much housing stock and pushing up property values, coupled with criple rent charges. Social housing prevented a lot of this as it gave a reasonable priced alternative to private landlords, allowing those renting the spare cash to save up for a deposit. A private landlord will charge as much as possible to squeeze every cent the can out of a tennant. I am curious to watch what is going on in OZ because the UK is going down exactly the same route but not as out of control. I am in Scotland which is still affordable for most people as it is probably not as desirable an area as other UK regions. London is exactly the same as Sydney and Melbourne, its a rip off.
Landlords funked over by government that socialism policy
Out of reach for middle class families
Unfortunately , this is the plan 😪
Middle class own homes not renters Alp claim
So much money has gone to the housing sector that, other sectors will fall short of funding to grow and survive. and if students stops coming to cities, entire nation economy will crash.
See that bloke's boardgame collection?!
The property price in this country will never go down if we let the lawmakers to be property investors themselves. It is in their best interest for the property prices keep going up, good for the nation property tax income, and good for their personal wealth.
Eventually it'll implode like in 2008, but eventually it'll go back up again, and guess what, the average joes still won't be able to afford it. It's simple, you make the law, you dictate the market, unless there is a force in a global scale like in 2007/8.
Even the tax policies are drawn to favour the haves. Other thing that may change is the demographic, market will change following the demographic. Baby boomers are towards the end of their life cycle now, and their children the Gen X and gen Y have different view of property ownerships, that's the glimmer of hope, but by then society living arrangement might also changed.
Accept the (bitter) fact of lives that money rules. When we are poor, we are brothers. When we are rich, who are you again ? that is why this world of capitalism is f***ed.
well with the LNP being in bed with property developers I don't see a fix under them, especially when they blasted labor's negative gearing policy during the last election, which would have helped to control property prices as investors couldn't as easily compound their assets with little risk.
Tax law incentivisation yes, but not low interest rates and QE, the culprit are central bankers.
El problema es que está pasando en todo el mundo occidental , son los mismos poderes económicos que quieren cambiar a largo plazo el control de la vivienda , dejando sin acceso de propiedad privada en la vivienda a la población , teniendo ellos el control del mercado en el alquiler ,ese es el redil que están montando en todo el mundo te escribo desde europa , que está pasando lo mismo .
The banks love guarantors, because they shift the risk by spreading it to Australia's population. This method is OK for a ride share on a holiday, but not robust for families or a home. The underlying problem is that incomes in Australia are used for imported consumer goods not for establishing intrinsic robust home finance option first. The deposits melt away through systemic pore budget culture, convenience and the nice to have lifestyles. Fundamentally there is simply no industry, but red tape, regulation, interveners and no advancement in a working life to make this work financially. Australians once up at the time were doers, but now we are consumers and that trap limits the banks options. Its a toxic cycle were money lending or printing need to be repaid by the unborn children of tomorrow or new immigrants. As we can see the new immigrants need housing and eventually we all become a commoditised. Consequently the job market or what is left now only allows renting. No industry,+No budget skills, +no Career= default renter until you inherit at age of 55 or never, because the parents get older then 90 years and know how to budget. The banks love your parents.
It is so depressing busting your back working hard just to know you’ll probably never able to own a house. I’m about to hit 30 and I’m already in constant pain from my work and having to keep it up another 40 years and still not owning a home is scary.
Maybe try a real job instead of impaling mums
@@jasoningarfield1268 sex work is real work my friend.
Vote independent. Lets finish the 2 criminal parties. I don't mean vote one nation or united they can go to.
Is this the ABC or LJ Hooker? Nothing but a puff piece, critical analysis has disappeared from the discourse. Disgraceful "journalism"
wait rate go up old time about 18 to 21 not now o.o1 what person pay this off to banks
There will be an opportunity to buy. 2021 was the best year to sell everything.
If Australians weren't so obsessed and concern about house prices maybe, they should have brought a home and not a house learn the difference.
The government needs to stop flooding this country with 250,000 randoms each year
Screw paying off over priced sticks and bricks that and all incurred costs having one. Get a caravan up ya dawgs😀
At present, some Australian mortgage rates are now cheaper (lower) than 10 year US Treasuries! Someone in this carry trade is going to lose a lot of money (I am not smarter than the Bank), and you know, if you think the average family working regular jobs can borrow money at a rate cheaper than the US government for a time, this is not going to last!
People who can't afford to buy right now, may prove to have been lucky. There is absolutely nothing wrong with not over paying.
It takes an average of 9-12 months to get approvals for housing, with high rise it’s even longer abs harder, that creates lack of supply, that is the reason for the price rise, planing approvals should be taken out of corrupt greenies infested local councils and a new federal or state approval department is formed, there are way too many laws restricting development.
Melbourne is considered to be the fastest growing city in the world by height, what are you on about
Richmond tweed areas you gotta be rich now to live there
Real estate agents are too blame also.
Is there actually any good dreams after the super inflation, covid and global warming crisis all around the world?
Stop building so many detached single homes. Build more mid to high density residential buildings, that will fulfill the demand and keep housing prices healthy.
Today 2022 Poverty in Australia is 3.24 million. Australia is the 7th richest country in the world. I know what it was like living on the streets on and off for 8 years So many people don't realise how quickly you become homeless. Now just this year I live in a one-bedroom unit and yes it took so long and I am still poor being on a DPS pension with very little to live on its because we have a corrupted government system living luxury on taxpayers' incomes greed and stupidity along the way. We have dictators controlling our way of life and money our economy is so greedy today and there is no stopping them. For example, an old 5-bedroom house being refurbishing was sold for 22 million. who has that sort of money I don't my friends don't and another thing I like to add is the show on TV The BLOCK making people change their homes for millions I blame the corrupted government system the banks the media for being becoming greedier? Australia isn't in debt from feeding the poor and caring for the elderly, it's from all the political donations and the theft by politicians. It's the huge tax cuts for big corporations and super-rich tycoons. It's not us, it's the crooks in the parliament for over four decades Politicians and the four biggest banks are to blame for ALL of our problems in Australia. 2022
Debt negates all dissent.
Investors created this buble but there is no government intervention about it. Government enjoys higher levels of real estate activity and people owning 2,3, or 10 or more investment properties are also encouraged as that's the only legal way in Australia to create a passive income. Without heavily taxing Investors housing buble will never end in Australia
Investors tax to hell in Australia... excise taxes is theft. How much is luxury cars & liquor??
Do you really need to ask where house prices will go? 80 million humans are added to the planet each year, 3 times Australia's population added each year. They all need housing. The lines will only grow longer.
The crocodile tears for first home buyers is just pathetic. Home owners want prices to grow and they outnumber buyers by many multiples.
Insane, madness. This is what corporate companies and the government are doing to people
Government always the problem that socialism policy
Lithgow nsw home for 250
Taree and kempsey Nsw 250
Kingston se south Australia 250
That Equidy is going to Vanish into thin Air Just Like my Super is doing.
They are spaced so close together, why does anyone want them. Quality of life?
Values will go down as interest rate rises raise their ugly head