Streets Ahead : Streets Ahead Edition 11
Conclusion Confidence in the mortgage market has improved over the last six months, largely driven by lower interest rates, which has improved the affordability of mortgage repayments. However, the declining proportions of respondents who believe it is a good time to buy a home or investment property indicate that accessibility remains the key barrier to home ownership. CoreLogic RP Data Home Value Index shows that the median dwelling price across all capital cities is now over $500,000. With most respondents believing that property prices will remain stable or continue to increase in the foreseeable future, Prospective FHBs will continue to face difficulty saving a 20% deposit. Overall, the findings in this edition of Streets Ahead show the key challenge is improving access to the housing market, rather than focusing on the affordability of mortgage repayments. More needs to be done to improve access to the property market, rather than the affordability of mortgage repayments 15 Disclaimer Nothing in this Streets Ahead report constitutes tax, stamp duty, legal, accounting or financial advice. The information and opinions provided are based on an interpretation of the results of the September 2015 Streets Ahead survey and do not necessarily reflect the views of Genworth Mortgage Insurance Australia Limited (GMA) or its affiliates. GMA expressly disclaims all responsibility and liability for any action or inaction by you in reliance on any information presented in this report.
Streets Ahead Edition 12