Wednesday, August 4, 2010

Election failing to address First Homebuyer Affordability Problem

We have only 17 days left of the election campaign to decide who will be running the nation for the next three years and it seems that both sides of politics has chosen not to deal much with the hot potato of housing affordability.

Today, News.com.au mentioned that housing affordability is the biggest issue in the West. It's now the elephant in the room that some are trying to bring to the attention of Abbott or Gillard. Interest rates yesterday were held steady by the Reserve Bank, potentially reducing the likelihood of making housing a major election issue but sure enough, the next rate review will probably give the next government something to think about.

Housing prices have gone up again in the most recently released figures showing a 3.1% increase across the nation but a very small 0.4% increase in WA. However this is contradicted by RP Data's figures released last week which showed a drop of 2.5% in WA.

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