Af­ford­abil­ity on hold, ac­cord­ing to re­port

The Riverine Herald - Local Real Estate - - LOCALREALESTATE.COM.AU -

The af­ford­abil­ity of hous­ing for Vic­to­rian owner-oc­cu­piers has barely changed in the past year, ac­cord­ing to the most re­cent REIA De­posit Power Hous­ing Af­ford­abil­ity Re­port. The re­port shows in Vic­to­ria the pro­por­tion of fam­ily in­come needed to meet av­er­age loan re­pay­ments in the Septem­ber quar­ter last year was 35.7 per cent, com­pared to 35.6 per cent in the Septem­ber quar­ter this year. There is no doubt hous­ing has be­come less af­ford­able over the last few years. Vic­to­ri­ans have gen­er­ally needed more than a third of an av­er­age in­come to pay the av­er­age loan for the last seven years (with the ex­cep­tion of the GFC). Be­tween 1999 and 2004, Vic­to­ri­ans gen­er­ally re­quired a quar­ter of an av­er­age in­come to pay the av­er­age loan. The sig­nif­i­cant re­duc­tion in af­ford­abil­ity was a di­rect re­sult of the state’s rate of pop­u­la­tion growth dou­bling be­tween 2005 and 2010 not be­ing matched by an in­crease in hous­ing con­struc­tion. This sug­gests the so­lu­tion to af­ford­abil­ity con­cerns is pri­mar­ily through en­sur­ing ad­e­quate hous­ing sup­ply. When com­pared to the other states, Vic­to­ria is the sec­ond least af­ford­able; only in NSW is a greater pro­por­tion of in­come needed at 37.1 per cent. Renters, how­ever, are in a bet­ter po­si­tion when com­pared to other states. In Vic­to­ria, they needed 22.7 per cent (same as a year ago) of an av­er­age fam­ily in­come to meet the av­er­age rent, which was more af­ford­able than in NSW, Queens­land, South Aus­tralia, Tas­ma­nia and the North­ern Ter­ri­tory.

4 Ju­lia Court Dare To Be Dif­fer­ent Lo­cated in a quiet court op­po­site a park is this unique fam­ily home. Boast­ing 4 spa­cious bed­rooms all with robes and 2 with en­suites, large tim­ber host­ess kitchen with walk in pantry with duel ovens. The front of the home fea­tures a lovely for­mal liv­ing area and study with the sec­ond liv­ing area lead­ing off kitchen/din­ing area and has views of the pool. Out­side fea­tures an en­ter­tain­ment area com­plete with in­ground pool and sep­a­rate spa. There is also a sep­a­rate yard for the dog or kids to play in. This home must be in­spected and will not dis­ap­point. Auc­tion 28th Jan­uary 2012 @ 11.30am on­site View Satur­day 11.30am - 12.00pm Con­tact Stephen Mor­gan 0419 388 802 5480 1466 echuca.vic@ray­ 209 An­struther Street, Echuca Priced to meet the mar­ket this fam­ily sized home will im­press with two liv­ing ar­eas, four bed­rooms with the more than gen­er­ous main bed­room hav­ing walk in robe and en­suite. The fam­ily sized kitchen over­looks the spa­cious din­ing and fam­ily area which leads out to the un­der­cover en­ter­tain­ment area, large rear yard and in ground pool. There is also ducted heat­ing and cool­ing to en­sure your com­fort through­out the sea­sons. Sale $380,000 View Satur­day 9.45 - 10.15am Con­tact Lynn Hall 0417 505 543 54 801 466 echuca.vic@ray­ 209 An­struther Street, Echuca

8 Lynch Drive Fam­ily Home With Pool

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.