WOMAN stay awake stressing about affordable housing more than a men, a new study has revealed.
Slater and Gordon Conveyancing work survey 2000 Australians and a third of women said affordability was their biggest concern when it come to buying property.
Only a quarter of men surveyed felt the same.
Queensland also stressed more than other states.
The study showed nearly a third of Queenslanders (31%) said housing affordability was their top concern, followed by 29% of NSW residents, 28% of Victorians and 23% of residents in WA.
Other concerns for Australians were finding a property they liked, getting finance approved, hidden costs and interest rates.
Slater and Gordon Conveyancing Lawyer Robert Kern said the results showed affordability was still the biggest factor when it came to purchasing property.
“A mortgage is a big decision and, increasingly, a lot of money,” Mr Kern said.
“Australians may want the property of their dreams but they are also pragmatists and don’t want to be left with a mortgage they can’t repay,” he said.
“It’s important that people make a thorough assessment of their financial position before deciding to purchase a property.
After finding a property they liked and could afford, the residents of each state varied in their next biggest concern.
Western Australia was most worried about stamp duty (11%) compared to only 2.7% of Queenslanders who rated it as a concern.
More residents in Queensland (11.6%) were worried about getting finance approved.
And for Victorians, hidden costs were one of their biggest worries (11.4%).
Nationally the property market is well balanced between buyers and sellers, but in some areas buyers have all the bargaining power
NATIONALLY the property market remained balanced, but there were still suburbs and towns where buyers well and truly had all the power.
The latest CommBank Home Buyers Index revealled the State where buyers had the most power was Tasmania which was an extreme buyers market.
In terms of capital cities buyers also had the upper hand in Darwin. (more…)
Southeast Queensland property sought by investors priced out of southern markets
REAL estate investors priced out of southern capitals have begun house-hunting where prices are about half that of Sydney and Melbourne.
The Brisbane-Gold Coast corridor of southeast Queensland is on the cusp of a boom, according to buyers agency Oasis Property chief executive Gavin McPherson, with double-digit growth forecast.
Affordability was a massive driver for buyers, as was good rental returns and strong long-term growth prospects, he said. (more…)