Australian Families Spend 36% Of Income On Mortgage
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Australian Families Spend 36% Of Income On Mortgage

Housing affordability continued to slide in the September quarter.

By Kanebridge News
Wed, Dec 8, 2021Grey Clock < 1 min

The REIA’s Housing Affordability Report found that 36.2% of owner-occupiers’ income went to paying their mortgage — a 3.9%  rise over the past year.

The national median weekly family income increased 1.2% in the three months to September to $2023. However, the average monthly loan repayment jumped 4% in the quarter $3177.

The total number of loans to both owner-occupiers and investors fell 7.2% during the same period to 107875, with the average loan increasing to $570,412.

This 4% increase on the previous quarter takes the annual increase to 17.4%.

REIA President Adrian Kelly said it was first home buyers impacted most.

“The number of first-home buyers decreased to 37,782, a fall of 12.6 per cent during the quarter and just a 1 per cent increase over the past 12 months,” said Mr Kelly.

“The number of first-home buyers decreased over the September quarter in all states and territories. South Australia had the largest decrease of 21.6 per cent and the ACT had the smallest decrease of 0.7 per cent.”

The report indicated the average loan to a first-home buyer in the September quarter jumped to $458,256 – 2% higher than the June quarter.

Rental affordability dropped only slightly in the September quarter. The proportion of income required to meet median rent rates rose to 22.9%.

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The waterfront residence is one of Port Stephens’ finest homes.

By Kanebridge News
Fri, Aug 12, 2022 2 min

In the coastal township of Salamander Bay — nearby to Port Stephens — comes a unique home crafted to take full advantage of unbroken ocean vistas across three levels.

With one-of-a-kind flair, the stunning 5-bedroom, 3-bathroom, 3-car garage home of 52 Randall Drive Salamander Bay is nestled on a private 577sqm plot, optimised through intelligent design to take advantage of the Port Stephens landscape and lifestyle.

Within the home sees the typically coastal textures of natural oak floor and timber feature walls take hold while stone and tiled adornments add layers of luxury.

The open plan living, kitchen and dining areas incorporate a fireplace and near floor-to-ceiling glass that opens to create a seamless indoor-to-outdoor dining and entertaining space on the home’s top floor.

The heart of this area is the kitchen, centred around a marble-topped island, state-of-the-art European appliances and an attached bar area, with built-in refrigeration, accompanied by a butler’s pantry.

Also here comes a grand outdoor spa, central to the balcony, while another outdoor entertaining area with a pizza oven is found on the middle floor.

Downstairs once again comes a second living space replete with the perfect wine cellar — cooled by the natural rock foundation of the home — offering an array of entertaining options

Of the home’s accommodation comes a private and luxurious master retreat with expansive ocean views, a walk-in wardrobe and an ensuite, here, speckled with grey terrazzo tiling and timber joinery vanities.  A further four bedrooms are found throughout the home along with two family bathrooms rounding out the offering.

Less than a five-minute walk from nearby amenities of shops, restaurants, cafes and beaches the home offers the best of the Port Stephens area.

The listing is with PRD Port Stephens’ Dane Queenan (+61 412 351 819) and Erin Sharp (+61 499 912 311) and is heading to auction; prd.com.au