I’ll get to the economic outlook shortly. First, I want to touch on what’s becoming a big problem. Property prices are not only growing more than income, they’re growing a lot more than savings. Sydney’s median house price is now $1.6m. That means for a 20% deposit, a buyer needs $320k plus stamp duty. If they don’t, they’ll need to pay tens of thousands more in mortgage insurance.
Reality check coming for the RBA
Reality check coming for the RBA
Reality check coming for the RBA
I’ll get to the economic outlook shortly. First, I want to touch on what’s becoming a big problem. Property prices are not only growing more than income, they’re growing a lot more than savings. Sydney’s median house price is now $1.6m. That means for a 20% deposit, a buyer needs $320k plus stamp duty. If they don’t, they’ll need to pay tens of thousands more in mortgage insurance.