National Housing Affordability Declines
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National Housing Affordability Declines

However, New South Wales and South Australia saw improvements in affordability in the quarter.

By Kanebridge News
Wed, Jun 2, 2021 4:37pmGrey Clock < 1 min

Both housing and rental affordability has declined, the Real Estate Institute of Australia’s Housing Affordability Report has found.

Although housing affordability improved in New South Wales and South Australia and remained steady in Western Australia and the Australian Capital Territory, it declined in Victoria, Queensland, Tasmania and the Northern Territory.

REIA President Adrian Kelly stated that housing affordability across Australia has declined, with the proportion of income required to meet loan repayments increasing to 34.7%, a rise of 0.1 percentage points over the quarter.

However, when compared to the same quarter of 2020 – housing affordability improved by 0.5 percentage points.

Meanwhile, rental affordability declined with the proportion of income required to meet median rents increasing to 24.4%, an increase of 0.4% over the March quarter and an increase of 0.7% over the past 12 months.

Mr Kelly added that the number of first home buyers had decreased by 4.4% over the quarter, but a rise of 62.6% over the last 12 months. Now, first home buyers make up 40.% of owner-occupier dwelling commitments.

“Over the March quarter, the average loan size grew to $506,340, an increase of 1.0% over the quarter and a rise of 2.6% over the past 12 months. During the quarter, the average loan size increased in all states and territories except New South Wales and South Australia. Over the past 12 months, the average loan size rose in all states and territories, ranging from 2.3% in Victoria to 10.8% in Tasmania,” Mr Kelly said.



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11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

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Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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On the Market for the First Time, This Hamptons Beach House Is Listed for Nearly $26 Million

The home in the village of Sagaponack has plenty of balconies to take in the surrounding water views

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A waterfront home in the Hamptons village of Sagaponack, New York, is on the market for the very first time.

Asking $25.95 million, the gray shingle-style home was built in 2008 by the seller and has since been available as a summer rental, but it’s never been up for sale.

Designed by architect Faruk Yorgancioglu, the “waterfront home offers privacy and panoramic beauty that cannot be duplicated under today’s zoning laws,” said co-listing agent Marilyn Clark of Sotheby’s International Realty – Bridgehampton Brokerage.

Jaime Lopez for Sotheby’s International Realty

The seller bought the property, which at the time had two small structures, at auction in 2005 for approximately $2 million, according to co-listing agent Deborah Pirro of Daniel Gale Sotheby’s International Realty. Mansion Global could not contact the seller.

The home hit the market Thursday, and in addition to Clark and Pirro, it is co-listed by Raquel Lopez of Sotheby’s International Realty – Bridgehampton Brokerage and Diane Anderson of Daniel Gale Sotheby’s International Realty.

Spanning 6,000 square feet, the home is filled with bright interiors, which were designed by New York-based interior designer Steven Gambrel. The open gourmet kitchen flows into a casual dining area and a living space with a fireplace, which is one of two double-sided fireplaces in the home, Pirro said.

A sunroom overlooks the water.
Jaime Lopez for Sotheby’s International Realty

“The placement and scale of fireplaces throughout the home is perfection,” she added.

A separate dining room has French doors that open onto a deck, listing photos show.

There are six en-suite bedrooms, including two primary bedrooms. The larger of the two is its own private retreat, outfitted with a fireplace, a sunroom and a large balcony, offering a space to watch the sun set over Sagaponack Pond, according to Sotheby’s.

Jaime Lopez for Sotheby’s International Realty

The home sits on a little more than an acre of waterfront land, bordering Sagaponack Pond, where there’s a private dock, and looking out at the Atlantic Ocean in the distance.

“The location on the pond with the view of the ocean waves breaking is spectacular and unique,” Clark said. “You are close to beaches and the Sagaponack General Store. It is a quick paddle to the famous Sagg Main Beach.”

Other outside amenities include a gunite swimming pool and a hot tub, which are surrounded by a spacious deck, as well as a pool cabana, which has a full bathroom, changing rooms and a sauna. There’s also multiple balconies, decks and a screened porch overlooking the pool, striking a balance between indoor and outdoor living.

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Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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