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7 News recently ran an excellent segment about the growing backlash over Sydney’s rapid population growth. #Sydney #NSW #Population #migrants#HomeOwners #Rental #FirstHomeBuyers
The segment touched on some of the major issues, including over-development (e.g. the proliferation of high-rise apartments), and pins the blame squarely on the federal government’s 200,000 strong mass immigration program.
As usual, there were comments from all spectrum of so called experts. Fake demographer, Mark McCrindle, argued that growth is unstoppable: “We can’t stop the growth. Sydney is the gateway to Australia. We are growing through national migration. We are growing through natural increase”.
Really? ABS’ population data clearly shows that net overseas migration is the overwhelming driver of NSW’s (Sydney’s) population. In fact, according to the NSW Government’s own projections, Sydney’s projected population increase over the next 20-years will be driven almost entirely by net overseas migration (i.e. 1.53 million out of 1.74 million).
Sydneysiders don’t want the city turning into a crowded, super expensive, high-rise hellhole. It’s about time our politicians heard the people's voices.
Let me hear your comments on 0425 341 086 or comment on Facebook.
We are 30 years ahead of schedule, in the least favourite category – Population. Sydney is the most favoured hub in the Asian Region as a stable economy and a great place to live. #Sydney #NSW #Population #Visa#migrants
Sydney’s projected population increase over the next 20-years will be driven almost entirely by net overseas migration (i.e. 1.53 million or 77,000 people a year). We need to become a little bit more nimble and flexible with Family Visa, allowing other familywho live here to help the new comers.
We want to help the #FirstHomeBuyers – some who are born here, but now there are many who have migrated here. Banks are still using the same old credit methodology and the yard stick, for good credit. We need for all types of people to coexist – some who may never take on a mortgage but may buy a luxury car if they buy a car at a higher rate. Some people will work well into their 70’s, so they should be allowed to look at a 25 year loan term at age 50.
Responsible lending must and should exist, but so should options. Please comment as I am very keen to see some level of change in the products being offered in the market place.
I am a migrant, Australia is home and I wantto see it thrive, but we certainly need something more after the Mining boom.
Maybe like #ElonMusk says - we can produce energy and sell to China.
What do you think? Let me know at 0425 341 086. Read more on my Facebook Page.
At the end of 2016, we reported that the formerly invincible London home market had suffered its biggest crack in years, when home prices plunged the most in six years according to Rightmove. #London #RealEstate #HomeMarket #Mortgage
Asking prices in London dropped 4.3% in December with inner London down 6%. Meanwhile, the most exclusive neighborhoods, like Kensington and Chelsea, recorded even sharper declines at nearly 10% as home buyers migrated to cheaper areas of the city.
While it was unclear what the catalyst was: whether post-Brexit nerves, China’s crackdown on capital outflows, the ongoing depressed commodity market, or reduced migrations by wealthy Russian and Arab oligarchs, what is obvious is that the slump has continued. According to the Royal Institution of Chartered Surveyors, its price balance for the city fell to the lowest since February 2009 last month, plunging to minus 49, which means that a greater percentage of agents reported drops in March.
Closer to home, the Sydney and Melbourne real estate market seem to be at a knife's edge with experts claiming that a property bubble burst is on the horizon.
Call Madhu on 0425 341 086, for expert opinion and advice on the Australian market and the best mortgage suited to your needs.
Sydney ranks fourth among global cities most at risk of a housing bubble, recent research has revealed.
According to the UBS Global Real Estate Bubble Index for 2016, increasing supply and further tax measures to reduce foreign housing investments “may end the price boom rather abruptly” in Sydney.
The UBS Index, which is designed to track the risk of housing bubbles in global financial centres, found that Vancouver topped the index this year, and “bubble risk also seems eminent in London, Stockholm, Sydney, Munich and Hong Kong”.
Last year’s report, which listed Sydney as the third most at risk global city, behind London and Hong Kong, after identifying real estate prices as “overvalued".
This year’s report explained that in Sydney, real housing prices “peaked” in the second half of 2015 after an increase of 45 per cent since mid-2012, and since then prices have corrected by “a low single-digit”.
“The Australian residential market is influenced by a rapidly growing foreign demand (in particular, Chinese), which has tripled in value over the last three years,” the report said.
Overall, the report explained that house prices of the cities within the bubble risk zone have increased by almost 50 per cent on average since 2011, whereas prices have only risen by less than 15 per cent in other financial centres.
“This gap is out of proportion to differences in local economic growth and inflation rates,” the report said. “A change in macroeconomic momentum, a shift in investor sentiment or a major supply increase could trigger a rapid decline in house prices,” the report concluded.
Contact me today at loans@financeandmortgage.com.au to find out where you stand.
Median home prices in Sydney($785k) are nearly double those in NSW at $405k.#Sydney #homeowner
Here are the details regarding the deposit required, rent, LVR and more since 2001.
Call Madhu on 0425 341 086 or email her at loans@financeandmortgage.com.au to understand where you stand and how and where to buy your next home.
The median dwelling price has risen from $525,00 to $785,000 over the last 5 years while the median household income has grown to $93,593 from $75,088. #Sydney #mortgage
Check out the trends over the last few years to understand today's market. Contact Madhu at 0425 341 084 or at loans@financeandmortgage.com.au to find the deal for you.
