Business
Housing affordability: Record house prices reignite worries for home buyers – Domain News
It’s getting cheaper to pay down a mortgage but that doesn’t help buyers finding it a challenge to save a sky-high deposit or sellers trying to buy back in.
A stunning rise in house prices has reignited worries about housing affordability, with experts warning workers on moderate incomes will find it harder to reach home ownership than ever.
Despite rock-bottom interest rates that made mortgage repayments cheaper, and a raft of government assistance, record high prices make it near impossible for some to save the required deposit.
It raises the prospect that Australia could miss the opportunity offered by the social shifts of the pandemic to make housing…
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