Winter A Glut is Coming (Apparently)
You’ve probably heard the rumours by now. You know, the ones about a likely apartment ‘glut’ in Sydney? Well, some now fear that the same could happen in Canberra.
According to ABS statistics, construction work in both NSW and the ACT is on the rise in a pretty big way, with NSW construction having risen for six quarters, and the ACT figures showing a rise for two quarters.
Popular media appears to have jumped right on stats like this, with cries of “OMG the apartments are taking over!” ringing out left, right and centre. Sigh. Before we freak out, let’s discuss this properly. Continue reading
There’s a generation of Australians out there that feel they’ve been trounced by the property market before they’ve even had a chance to get into the ring. The story goes decades of skyrocketing house prices and increased cost of living have delivered a one-two punch to first home buyers that has many on the mat. The heavy feeling of defeat keeps some there; convinced that the Australian dream will never come true.
Getting together a deposit is seen as perhaps the biggest challenge when it comes to getting into the housing market. The more house prices increase, the larger the deposit needed. With wages remaining stagnant and cost of living increasing, saving has become that much harder. While many renters move in with their folks in order to get a leg up, that isn’t an option for everyone.
We hear it often—the buyer’s cry that goes something like: “I love the peace and quiet of the country, but I really adore being close to the shops and having that convenience. So where the heck am I gonna buy a place?!”
Ahhh yes… that old chestnut. We know it well. It seems like a total conundrum, right? But it’s really not. The answer lies in this simple piece of advice: become Googonian.
If you’ve got no idea what that is and think we’re starting to sound insane:
- You may have been living under some form of igneous structure (aka a rock), and
- Fear not. We shall explain