The government will provide a guarantee of 18 per cent of the purchase price for single parents with dependent children, with the scheme available to 10,000 people.
It will allow single parents with dependent children to purchase a home with a deposit of just 2 per cent.
But those 10,000 places will not be available all at once, with the scheme to be spread out over four years.
In addition, the government is also increasing the maximum amount of voluntary contributions that can be made under the First Home Super Saver Scheme — which allows people to build a deposit within their superannuation fund.
The New Home Guarantee will also be expanded to run for another year, with an additional 10,000 places made available.
Berwick, Sunbury, Craigieburn, the Mornington Peninsula and the CBD are the most popular localities in Melbourne searched by interstate buyers.
Despite Victoria’s infamous lockdowns, realestate.com.au data reveals the number of searches for homes in the state by out-of-state buyers jumped 16 per cent in the past quarter.
Melbourne & Canberra has their median house prices surpassed the million-dollar mark in the June Quarter, with both cities very close to each other. Perth is now the most affordable capital city for real estate in terms of median house prices.
I still think there will have to be a significant correction at some stage in next 5-10 years (sooner the better, the longer they keep this going, the bigger the correction will have to be), it is unnatural for the market to continue going up - basic economics.
I have little doubt there are plenty that have too much debt and the market will need to toss them out eventually. I recall reading somewhere that private debt is at record highs due to the historically low cost of money.
I’m still kicking myself for having not bought in Launceston a few years back. I was looking at a place that sold for $260K three years ago and would realistically be worth close to double that today. Could have been a real little money spinner if I hadn’t wussed out!
Tassie is seen as the nuclear solution to the problems on the mainland. Must admit it was very tempting for me. I am still considering it in future when I no longer have obligations on the North Island.
And as the city was recently declared the most liveable city in Australia and the third most liveable city in the world, it’s suddenly on the post-pandemic radar of many more people.
With Adelaide ranked behind only Auckland and Osaka [in the world], it’s concentrated attention even more on a capital city that the Australian Bureau of Statistics projects to still only have a population of about 1.5 million by 2027.
Sydneysiders interviewed during a federal government-commissioned survey were the most eager of those on the east coast to pack up and leave their metropolis with access to high-speed rail, while the enthusiasm of people from Melbourne and Brisbane was slightly behind.
The proportion of people willing to move increased further if the travel time to the city was cut.
The climate would almost be pleasant at the top of that! Like going about 3 degrees further south in latitude, more like South West Rocks than the Gold Coast. Of course you can always go to Mt Tamborine if you don’t mind being away from the beach.
Homebuyers considering a shift to regional Victoria are four times more likely to choose Geelong over other cities outside Melbourne, new research shows.
Geelong’s pulling power was underlined in the Urban Development Institute of Victoria/Urbis Home Purchasing Sentiment Survey, released on Thursday, which showed Geelong was favoured over Ballarat or Bendigo or the urban growth areas in the outer Melbourne.
