Changes to first home buyer grants and rising house prices have constrained first home buyers despite low and falling mortgage rates.
To make it more obvious:
Interest rate drop = property market price increase (FHB does not have enough deposit, assuming 20%)
Interest rate increase = property price cools down (FHB struggles to repay the interest)
So this concluded that 10% of FHB will continue to rent or live with parents...however in my previous post stating that rental return are falling as well
Does that mean numbers of people living under the same roof will increase fair bit in the next 1-2 years?
To make it more obvious:
Interest rate drop = property market price increase (FHB does not have enough deposit, assuming 20%)
Interest rate increase = property price cools down (FHB struggles to repay the interest)
So this concluded that 10% of FHB will continue to rent or live with parents...however in my previous post stating that rental return are falling as well
Does that mean numbers of people living under the same roof will increase fair bit in the next 1-2 years?