To Buy Or Risk Being Pushed Out Of The Market

Category: Finance, Real Estate.

This is indeed a frightening thought for many Australians. Renters, especially those saving to buy, have survived several harsh setbacks this year.

However, costly house prices, for many renters are turning the great Australian dream of home ownership into exactly that- a dream. Agents revealed that in over 85% of cases, rents have increased in the past 12 months, and are likely to continue to increase until 200This will be around the time when a new upsurge of apartments is expected to come onto the market, easing the shortage. Those who dreamt of home ownership have had their dreams dashed. At the same time, interest rates skyrocketed three times since the beginning of 2006, making a total of eight times since 200This has destroyed the borrowing capacity of prospective buyers. Melbourne s current 284, 000 rented households must make big decisions this year. It is a sad state when the gap between the haves (investors) and have- nots (aspiring home buyers) is widening, and analysts do not predict changes in this trend any time soon. To buy or risk being pushed out of the market.

Moreover, median house and apartment prices have increased by such a huge margin, and are continuing to increase, particularly in the inner city where tenant demand is strong. Furthermore, the value of the investors property portfolios has increased in recent years. We all must be aware of course that this has brought a smile to the face of investors. This most certainly provides tens of thousands of dollars in equity, which in turn enables them to buy more property. The easiest way to check on rental and homes to buy is online at OzFreeOnline. com in their Real Estate section you can register, and search the, login thousands of real estate property listings all for free! Renters, must make serious, by comparison lifestyle changes to go up against rising rents, stamp duty, rates, and real estate values.

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