Australian Dream Drives House Prices Up
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Australian Dream Drives House Prices Up

The RBA concedes interest rates and market choices are resulting in suburban sprawl.

By Kanebridge News
Mon, Sep 20, 2021Grey Clock < 1 min

The concept of the Australian dream, to live in a house, is driving people further from city centres according to the Reserve Bank of Australia.

In a housing affordability inquiry, the central bank told a parliamentary committee looking at supply and pricing that “as populations increase and cities expand, some households will need to live further away from the centre of major cities and/or accept further increases in higher-density housing.”

It comes as last week the RBA told the inquiry that low interest rates are the primary driver of Australia’s property boom over dwelling supply issues.

Further, the RBA noted that buyers preferring houses over apartments and over the course of the pandemic regions over cities increases the difficulty of policy-making.

“The experience of lockdowns may also have made apartment living less attractive for some households, said the RBA.

“Some elements of the response to the pandemic could affect preferences between these choices, though it’s unclear how lasting these responses will be.

While the post-covid property market response is still unclear, the great Australian dream of a home in the suburbs remains the goal for many.

“Australia’s dwelling stock remains dominated by large, detached housing, and around one million detached houses have been completed over the past decade,” the RBA says.

The RBA has also noted the importance of rental affordability, noting that over the last 30 years the amount of households that are leasing has increased from one-quarter to at least one third. Home ownership rates have fallen across most age groups, with the most significant drop found in the 25-49 demographic.

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By Robyn Willis
Fri, Aug 19, 2022 < 1 min

Treechangers seeking a home and income should take note of this west coast property in picturesque Pickering Brook in the Perth Hills, which comes with its own live-in residents.

Known as ‘the Margaret River of the Hills’ the area boasts stunning bushland while being just 30 minutes from all the amenity Perth has to offer.

With eight bedrooms and 10 bathrooms, this property is a home and business, operating as a thriving day spa, Hidden Valley Eco Lodges and Day Spa.

The private main residence is made of rammed earth for thermal comfort and has three bedrooms, luxurious bathroom and a large open plan living area. A private jacuzzi on the spacious entertaining deck is the perfect spot for enjoying beautiful bushland views at the end of a long day.

For day spa guests, there are four deluxe spa treatment rooms serviced by qualified staff, a reception area and lounge plus a commercial kitchen. Overnight guests can choose from five lodges with fully equipped kitchen and heated jacuzzi. As a going concern with a consistently high annual turnover, it’s a unique opportunity for the right buyer.

Set over 5.46ha, the property is also home to a very special group of residents: a small herd of alpacas, which are included in the sale.

Price guide: $6.5 million

Inspection: By expression of interest

Agent: Susanne Broido, The Agency 0499 770 237