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BTN-House Pricing

May18

This weeks BTN was about house pricing in Australia. It was a little bit about other countries with different house pricing.

This was the video…click here

KEY:

Blue = Facts

Red = Understandings

Green =  Questions

Black  = More Information

Lately in the housing department they have been worried that the not many first home buyers could afford an ideal house that would suit them. 

Houses are the most expensive things an average person would ever buy.  They are also getting more expensive very quickly.

The average house price in Australia is now about $656,800.

To afford all that money, most people go to the bank and borrow money.  Although getting money from the bank is fine, even though you get charged interest.

Houses have never been more expensive then now.

Australian workers on average earn 10 times more than what they did 40 years ago, although houses are now 30 times more as what they were 40 years ago.

House prices were cheaper in the olden days and now they are much more expensive.

I understand why house prices are more expensive because times have changed and in the olden days they had bigger issues like convicts, world wars and poverty. Not worrying about houses and house pricing.   

Other countries around the world are struggling with house prices, such as NYC, London, Tokyo, Paris and Denmark are having much bigger issues with house pricing.

Some creative options if you are struggling are:

  • House boats
  • Old shipping containers

 

The countries that have the biggest problems with house pricing are Britain, America, Canada and Europe.

Australia’s new federal budget is making it easier and more affordable for first home buyers. It is also making it harder for people overseas to buy homes as an investment. So Australian’s won’t need to compete against them to buy a house. They are encouraging older people to sell their home and move into smaller houses so new owners and young families can live in their suitable house.

I understand why they are encouraging older people to sell their house because older people could give first home buyers a good start home and older people might want a smaller home to live in.

Do first home buyers get money off on their first home?

Australia still has a lot to do before we have perfect house pricing…

Until housing dreams will one day come true…

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