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The National Home Buyers’ Federation is warning against a surge in home prices in Sydney and Melbourne, with the average price of a home in the inner west and outer west rising more than 10 per cent since the year 2000.
«This is a very real concern for many buyers in the region, and the number of new home listings is rising at an alarming rate,» said the NHBF’s president, Nick DiGiuseppe.
«Many Sydney and Victorian buyers will be facing a very tough time in the near future if they want to buy a home that’s affordable and suitable for their family.»
The NHBA’s annual Home Buyer Survey shows that the average Sydney and Victoria home price in the past year is just over $1 million, and in Melbourne it’s more than $1.5 million.
«»We’re calling on NSW and Victorian governments to step up their housing affordability efforts to ensure that buyers are able to purchase a home with the affordability they need to maintain a decent standard of living.
The NHCFs president is calling on the NSW government to cut school funding by 10 per year, with school funding set to be cut by 30 per cent from this year. «
While many students would benefit from a better quality of life and greater social inclusion, it would not be fair to the students themselves if those students are not able to afford a home,» said DiGiusso.
The NHCFs president is calling on the NSW government to cut school funding by 10 per year, with school funding set to be cut by 30 per cent from this year.
DiGiussa said there was a clear need for NSW and Victoria governments to address the housing affordability crisis and the NHTF will continue to press for the government to act.
With no end in sight for housing affordability issues in Sydney, DiGiustos is urging governments to do more to tackle affordability, including by cutting the price of houses in the outer regions, and by reducing rents for renters in the city.
Read more about housing affordability in NSW here: