Consumer News

The three biggest affordability concerns

1 August 2017

By Tim McKibbin – REINSW CEO

A recent survey of property consumers revealed their three greatest affordability concerns are having a deposit, the high cost of stamp duty and the number foreign buyers competing for properties.

One of the more interesting statistics in the CoreLogic survey is that nearly 90% of non-property owners said they’re concerned about the ability to afford their first or next home.

The problem also appears to be getting worse, with 62% believing affordability is worse now compared to last year, and 58% believing next year will be worse again.

Although the NSW Government has announced some measures to address affordability, much more needs to be done to really make a difference.

It’s time to end the politics and take the steps necessary to address the ever-worsening housing affordability crisis.