With so many people homeless or becoming homeless due to the devastating floods will we see yet another uptick in rental costs across Australia?
Housing prices were just starting to come off the boil after huge increases the last two to three years, will they now come back to the boil?
Rents are becoming unaffordable for pensioners, low to middle income earners and fixed income people.
Whilst both of these are fantastic for property investors it means a real struggle for wannabe first home buyers and the avg family. And beware as interest rates must increase soon. Which could be a double whammy for those who have bought and have not factored in interest rates of 10% in the budgets.
Going to be an interesting next 5 years.
"data has revealed the median house value across Australia has exceeded $1 million for the first time in history. Buyers across the country paid an average of $1,066,133 to secure a home over the past year, according to Domain's House Price Report.26 Jan 2022"