Every Sunday morning the team at the Australian Property Podcast is here to deep dive into the biggest and most topical news headlines for the week and what it means for your property.
With sticky inflation and rate rises affecting the cost of living for Australians, we are facing some interesting conditions in the property market in terms of lending, rental prices & supply.
Buyer’s Agent Pete Wargent and Mortgage Broker Chris Bates will give their plain English take on some of the most topical news stories, and help you break down and understand the noise.
On this episode of the Australian Property Podcast:
- Wage increases: The Fair Work Commission announced a higher-than-expected award wage increase of 5.75%, impacting 2.6m workers across the country, and a minimum wage increase of 8.6%. We discuss how will this affect the economy and inflation. Will this fuel inflation or will the increase rather help cover the cost of inflation?
- Lending to build or buy a new home: At its lowest level since 2008 but lending buffer of 3% to stay in place coupled with rate increases. So what happens now?
- Reduced borrowing capacity for first-home owners means people can only borrow around 4.5x their income borrowing capacity for first-home buyers. Will this lead to a repricing event?
- Productivity NSW proposes building more homes where people want to live: This could lead to rezoning, so how will this affect current homeowners & suburb dynamics?
