6 GROUPS OF HOUSE BUYERS
1. Young renters
2. First home buyers
6. Aged care
DID YOU KNOW… Australian buyers currently spend the most on their housing when they are in their early 50s. It used to be the late 30s about two decades ago. This trend towards spending more on housing later in life is expected to continue.
A household’s housing preference will usually change by location; with more opting for smaller larger properties in the more outer suburbs. Of course, this is influenced, too, by affordability. The proportional range for each housing type above caters for locational spread ranging from inner city suburbs to our regional centres.
We are seeing in many of the inner city areas that demand is outstripping supply and this has kept the prices steady and should remain this way for the foreseeable future. Westpac today have announced an increase in their lending rates, though overall lending is still low compared to that of previous years.
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