Dwelling values have constantly increased in the past months, with Sydney and Melbourne leading all capital cities in dwelling values, up by 2% and 1.8% respectively in the 2nd quarter of the year. Overall, the combined capital cities index has increased by 1.1%. For investors, these are great news. But how about the many Australians who dream of purchasing their own home?
In an attempt to address housing affordability, Master Builders Australia, in a senate inquiry has urged the government to consider increasing the supply of housing in the country, after recent data from the Australian Bureau of Statistics showed a 5% decline in building approvals for the month of June. They are also encouraging the government to pursue an intergovernmental agreement to implement first homebuyers assistance for both new and established homes, and to assess the benefits of allowing homebuyers to use their superannuation to purchase property.
Read more about this on the Your Investment Property website.