Day: July 29, 2020

Homeownership Hits Highest Level Since 2008 Driven by Younger, First-Time Buyers

Homeownership rates surged to 67.9% in the second quarter, the highest rate since 2008. The 3.8 percentage point increase from 64.1% a year earlier is the largest annual increase in homeownership rates on record. A word of caution about the data: The Census changed its methodology this quarter, eliminating all in person interviews due to the pandemic, which may have distorted the data and contributed to such a large jump in homeownership rates. That said, there are a number of intertwined pandemic-related trends that have likely led to the strong growth in homeownership:

Younger households and first-time buyers drove the

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The ‘September Slope’ And What It Means For The Property Market

From wage subsidy and loan holiday extensions, to further stamp duty exemptions for new home buyers in New South Wales, it’s been a week of major announcements for Australians who had been anticipating a fiscal cliff at the end of September. 

The ‘September cliff’, which could have plunged hundreds of thousands of people and businesses into devastating financial circumstances, is now looking more like a “September slope”, which is a positive turn of events for the economy and the property market, according to Nerida Conisbee, chief economist at realestate.com.au.

The extension of JobKeeper and mortgage freezes has been a positive

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