New AHURI Discussion Series on private sector involvement in social and affordable housing this June in MEL and SYD - Learn more
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“Australia will be dealing with the impact of COVID-19 on its housing markets for some time as increased construction costs and a reduced appetite for risk impede new housing supply,” says Professor Steven Rowley, lead author of new AHURI research released today.
This research assessed the impact of the COVID-19 pandemic on patterns of housing supply and demand and how the Australian housing market has changed over recent time (including between the 2016 and 2021 Censuses).
Shared equity schemes already operate across most states. This article in The Age asserts that the federal government is due to introduce its own version, and references AHURI research, which has shown that shared equity – where an investor (usually a government) helps buy a property in exchange for a share of its capital growth – would offer opportunities to first-time owners.
This article in the Australian Financial Review suggests that hundreds of thousands of borrowers would be freed from mortgage prison if banks were no longer required to conduct serviceability tests on refinancing applications, with new AHURI research revealing the assessments are also locking first home buyers out of the market.
As Australians have been slugged with 11 rate hikes since May last year, many are hoping for them to be slashed, but it would spell bad news for some. This article in the Herald Sun quotes AHURI research, which has shown it was actually lower interest rates which made property unaffordable for those trying to enter the property market.
