A housing report out this week shows first home-buyers are at 8.1% in Sydney – a record low that is down from 30.8% in 2009! Why such change? There is a lot of commentary about affordability, however Luci Ellis, the assistant governor at the RBA has a different take, citing the changing make-up of demographics as one reason for this change with younger demographics travelling more, starting their careers later and even marrying later. True on all fronts for me! Interested to know your thoughts.
This week we also look at rising interest rates, capital gains tax and the latest auction results; plus a great beach house renovation in Avalon.
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CBA Tightens Reins Further On Home Lending
CBA raises interest rates on interest-only home loans.