Queensland housing affordability hits 16-year low
Mar 24th 2005, 7:10 pm
#1
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Joined: May 2004
Location: Birkdale QLD
Posts: 7,642
Queensland housing affordability hits 16-year low
Queensland was the only state to suffer a triple whammy of lower incomes, increased loan size and higher house prices.
About 33 per cent of the family income is now needed to service the home loan, a rise of more than 4 per cent since December 2003.
Cheap housing anyone?
Cheers,
JTL
Mar 24th 2005, 8:05 pm
#2
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Re: Queensland housing affordability hits 16-year low
Originally Posted by JackTheLad
Rent!
Mar 25th 2005, 12:35 am
#3
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Location: Birkdale QLD
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Re: Queensland housing affordability hits 16-year low
Originally Posted by NedKelly
Rent!
Or that house prices will fall furthur?
Or that average pay will start to rise again?
Or that interest rates will come down?
Cheers,
JTL
Mar 25th 2005, 12:17 pm
#4
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Re: Queensland housing affordability hits 16-year low
Originally Posted by NedKelly
Rent!
Landlords need more people opting to rent to help get the rents back up in line with prices again
The more renters that are around will enable to Landlords to pick and choose tenants, and increase rents again.
According to the "Laws of Suppy and Demand"; if less people buy houses, and start renting instead, then rents will rise, and those people currently holding on to investment properties willl get better income returns, and therefore will not want to sell.
Therefore keeping property prices from falling, as the supply of properties for sale will not be to high.
