House prices are slowing and several indicators are telling us that owner occupier sales could stall, which will hit ILU sales. Six consecutive interest rate rises will flow through to demand and house prices this winter quarter. Housing finance for owner occupiers has fallen steeply. The average number of occupants has reportedly increased from 1.6 to 1.8 people per dwelling - equating to a 10% of homes being made vacant. Banks are reporting that investors dominate buyers, not homeowners. All this is making banks nervous about values.
A first: residents petition council wanting an over-55s retirement community
A petition signed by more than 100 people within four days in Bannockburn, 88km southeast of Melbourne’s CBD, demanding a lifestyle village was raised at Golden Plains Shire’s council meeting. “We would like to ask our elected council to encourage...