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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the latest in equities, property investing and super.

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Steve Waters, director of Right Property Group, chats about the latest in property, including CoreLogic’s latest findings, which suggest national home values have increased at the fastest pace in over 30 years, and why he isn’t quite sure this is the case.

RMIT’s senior lecturer of finance, Dr Angel Zhong, talks about soaring travel stocks, the rising popularity of NFTs and what they are, as well as the sudden meltdown of Archegos Capital Management.

And lastly, tax and super guru Timothy Munro gives his thoughts on Paul Keating’s early release of super verdict, as well as an overview of life after JobKeeper.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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Home values up 30% (or are they); NFTs taking the world by storm, and why Keatin...

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There is $17.5 billion in lost and unclaimed super across ...

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First home buyers brace for strengthening headwinds

By Bianca Dabu

March 04 2021
Share

Invest

First home buyers brace for strengthening headwinds

By Bianca Dabu
March 04 2021

While Australian first home buyers dominated the market in 2020, increasing their market share by 50.4 per cent in the past year, they're likely to face strengthening headwinds as prices soar.

First home buyers brace for strengthening headwinds

By Bianca Dabu

March 04 2021
Share

While Australian first home buyers dominated the market in 2020, increasing their market share by 50.4 per cent in the past year, they're likely to face strengthening headwinds as prices soar.

The Real Estate Institute of Australia (REIA) has released their latest Housing Affordability Report, which showed that while housing affordability declined nationally in the December quarter, it improved over the year by 0.7 per cent.

Higher house prices and larger loans were deemed the main contributors to the quarterly affordability decline, according to REIA president Adrian Kelly in a statement.

Mr Kelly said that median house price rose across the country in 2020 despite doomsday predictions, due largely to increasing first buyer demand.

Overall, first home buyers increased their market share by 50.4 per cent over the year, motivated by low interest rates and the range of first home buyer incentives on offer, Mr Kelly explained.

But, according to Archistar's chief economist, record breaking first home buyer activity is set to face strengthening headwinds.

Dr Andrew Wilson explained that with sharply rising home prices set to continue and government incentives and support policies expiring, the property market is set to become more challenging for first home buyers.

"In these circumstances and faced with ongoing low incomes growth, it will be increasingly difficult for first home buyers to save the deposit necessary to keep up with higher prices," Dr Wilson explained.

Mr Kelly agreed. Noting that while the rising trend in home ownership is great news, he opined that increasing house prices could further decline affordability unless supply levels are improved, particularly in regional Australia.

As of date, the proportion of income required to meet loan requirements – the measure for housing affordability – nationally has increased to 34.8 per cent.

Across states and territories, NSW stood out as the least affordable, with proportion of income required to meet loan repayments at 44.6 per cent, while the most affordable is the Northern Territory at 21.9 per cent.

“It is now more affordable to buy than rent in the Northern Territory,” Mr Kelly said.

In the rental market, affordability declined by 0.2 per cent over the quarter, with the proportion of income required to meet rent payments increasing to 24.0 per cent. However, the number increased annually by 0.4 per cent nationwide.

Tasmania took the record of the least affordable state to rent, with the proportion of income required to meet rent repayments now higher than the national level at 29.5 per cent.

On the other hand, Western Australia is the most affordable, with the proportion of income required to meet median rents increasing to 17.8 per cent.

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