Browsing articles in "Interest Rates"
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Aug 29, 2013
joelpringle

New ABS figures highlight looming mortgage risks

Today’s ABS release Housing Occupancy and Costs 2011-12 have shown the unreliability of housing affordability measures that rely on interest rates, according to affordable housing advocates.

‘Today’s figures from the ABS show the precarious situation for mortgage holders on Australia. Despite interest rates being at historical lows, affordability is no better than it was in 1996. In July 1996 interest rates as set by the RBA were 7.5%, in July 2013 they were 2.75%. And yet the ABS figures tell us that Australian’s are paying no less now than they were then.’ Continue reading »

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Mar 12, 2013
joelpringle

Report on workers and housing stress released

A fulltime salary is not enough to guarantee affordable housing, according to a report released by Australians for Affordable Housing today. The report, launched by ACTU President Ged Kearney, shows that the housing crisis is hitting working Australians who traditionally would be looking at home ownership.

Home-ownership rates have dropped, and first home-buyer numbers are in decline. This is no surprise, when people who are working can’t afford somewhere to live without going into housing stress.” said Joel Pringle, Campaign Manager for Australians for Affordable Housing. Continue reading »

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Feb 12, 2013
joelpringle

First home owners pushed out

Today’s Australian Bureau of Statistics release of housing finance data shows that first home buyers are being left behind in the housing market, according to Australians for Affordable Housing.

“The months leading into the end of 2012 saw a marked decline in the proportion of first home buyers, compared to other home sales. Recent falls in interest rates seem to have benefited investors, but have left first home buyers cold.” Said Joel Pringle, Campaign Manager for Australians for Affordable Housing. Continue reading »

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Oct 2, 2012

Rate cuts not the housing affordability cure

The Reserve Bank of Australia’s decision to cut interest rates today will be welcome news for the 36 per cent of Australian households with a mortgage, however it won’t do much for the one in three households who are renting.

AAH Campaign Manager Sarah Toohey said that the decision to cut rates by 0.25 per cent to 3.25 per cent wouldn’t necessarily help those striving to buy a home either.

“If interest rate cuts lead to house price increases, which many housing analysts suggest they will, many first home buyers will still find it hard to get in to the housing market. Continue reading »

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Jun 5, 2012

ACT delivers reform while States rely on RBA

Australians for Affordable Housing has welcomed the Reserve Bank’s interest rate cut today but warned that without serious housing reform, like that delivered in today’s ACT Budget, households will continue to struggle with high housing costs. Continue reading »

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May 8, 2012

Battler’s Budget? Not so far!

Treasurer Wayne Swan has dubbed tonight’s Federal Budget a ‘battler’s budget, but without measures to address housing costs, Australians for Affordable Housing say the Budget will fail those struggling with the single biggest household expense.

Continue reading »

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Dec 6, 2011
admin

Interest rate cut delivers no joy to renters. More needed to deliver affordable housing

The Reserve Bank of Australia’s decision to cut interest rates by 0.25% to 4.25% is welcome news for the 36% of Australian households with a mortgage, however it won’t do much for the 29% of households who are renting, or the 32% who own their home outright.

AAH Campaign Manager Sarah Toohey said that the interest rate decision wouldn’t help those striving to buy a home either.

“Mortgage repayments are a function of interest rates and how much people have to borrow, so interest rates are only half the picture. The fact is that people have to borrow more just to get into the housing market. Governments need to look at the structural problems that drive up house prices.” said Campaign Manager Sarah Toohey.

“According to data from  the Reserve Bank of Australia, households are paying more of their income on housing interest payments now than they were back when interest rates were at 17%. That’s because households have had to borrow more to get into the housing market”.

Continue reading »

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Oct 4, 2011
admin

RBA leave interest rates at 4.75%

As Interest rates stay the same, the real story of housing affordability is tax

Today’s interest rate decision is a sigh of relief for people with a mortgage, but doesn’t help those striving to buy a home.

Interest rates are only part of the picture when it comes to making housing more affordable.

Continue reading »

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