Sydney Nations Least Affordable City, Again

New research by the HIA shows housing affordability hasn’t improved in Sydney.

Below is a statement released by the group this week:

Housing affordability nose-dived at the end of 2009 due to a combination of higher house prices, increased interest rates, and the winding-down of the first home buyers’ boost according to the latest HIA-CBA First Home Buyer Affordability Report.

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Australia’s Largest Builders Grab a Bigger Share of New Home Market: HIA

Australia’s largest builders have grabbed a bigger share of the new home market thanks to the tripling of the First Home Owner Grant.

Despite a 6.5 per cent slide in new home starts by the largest builders, the rest of the market fell by a much harder 17 per cent, enabling the HOUSING 100 to boost their dwelling starts to 38 per cent of Australia-wide commencements in 2008-09, up from 34 per cent the previous year.

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Housing Tax Bad For Affordability: HIA

HIA statement:

The Housing Industry Association is disappointed to see a new $95,000 per hectare tax on developments in Melbourne’s fringe, which will ultimately drive up the cost of housing.

Despite HIA, Australia’s largest building industry group, continually voicing its opposition to the proposed tax, and the Bill previously being defeated in the Parliament, the contentious Growth Areas Infrastructure Contribution (GAIC) is now set to go ahead.

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Housing Affordability Nosedives in Melbourne

Housing affordability nose-dived at the end of 2009 due to the fatal storm of higher house prices, increased interest rates, and the winding-down of the first home buyers’ boost according to the latest HIA-CBA First Home Buyer Affordability Report.

Melbourne’s housing affordability tanked in the December 2009 quarter dropping by 18.4 per cent, to be 23 per cent lower than a year ago.

Regional Victoria fared only slightly better, dropping 13.9 per cent over the quarter and 19.2 per cent over the year. 

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