Brisbane homes more affordable now than they were in 2011
On four major measures of housing affordability, Brisbane is more affordable today than it was in 2011, latest research has found.BRISBANE homes are more affordable now than five years ago, new research has found – the only east coast capital city to boast improvements across four measures of affordability.The CoreLogic Housing Affordability Report found that the cost of housing in Brisbane now made up a smaller proportion of household income than it did in 2011.It found that the median dwelling across Brisbane cost 5.7 times the median annual household income, compared to 5.9 times income five years ago.More from newsMould, age, not enough to stop 17 bidders fighting for this home3 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor9 hours agoHousing affordability Report – December 2016 – CoreLogicA 20 per cent deposit on a median priced dwelling was about 114 per cent of annual household income (about $93,500) compared to 118 per cent previously, and annual loan repayments took up 30.3 per cent of income – not 40 per cent as it was in 2011.Rental properties were also more affordable, the report found, making up 25.4 per cent of annual household income compared to 26.4 per cent five year ago.It was an impressive result given “the past five years has seen national dwelling prices rise by 19 per cent”, according to CoreLogic. At the same time ANU research had found that household incomes had grown by just 9.2 per cent.Record low interest rates were a major factor in the result, but Brisbane showed improvements in other affordability measures that excluded the cost of debt, such as dwelling price to income ratio, and the proportion of household income required for a 20 per cent deposit.The CoreLogic report said government policies linked to housing supply and land releases were “known to have a profound impact on the cost of housing” as well as high transaction costs.“Stamp duty costs on the median priced dwelling are now more than $30,000 across both Sydney and Melbourne which is adding to the savings challenge for prospective buyers looking to participate in home ownership.”The national price to income ratio was 6.9 times (7.2 times for houses and 6.4 times for units).
Hurricane Fly is set to tackle three miles for the first time in the Ladbrokes World Series Hurdle at Punchestown next week. Press Association Connections are keen to step the record-breaking Grade One winner up in trip and trainer Willie Mullins admitted he has had the French Champion Hurdle at Auteuil in mind for him for some time, but has decided against it so far. “There’s a good chance (of running in the World Series Hurdle),” Mullins told At The Races. “Lieutenant Colonel will hopefully run in the Ladbrokes World Series Hurdle,” said Eddie O’Leary, racing manager for owners Gigginstown House Stud. “We put cheekpieces on Lieutenant Colonel at Cheltenham and he was too free with those. “We made a mistake doing that and he obviously won’t wear them at Punchestown. “Dedigout is also entered but he would only go there if the going was heavier than soft, he wouldn’t go otherwise.” “We’ve been discussing it the last few days at home. “It is something the owners think they might go for. It’s a real runner at the moment. “Remember he won over two and a half miles on heavy ground as a four-year-old in France. “We would think over the years that three miles wouldn’t be any problem. It just depends on his temperament on the day. He can be keen if it’s a slow-run race. “I’ve been dying to go for the French Champion Hurdle for the last few years, but when you have a horse like that you try and mind him maybe a little bit more than the others. “I think the trip is no problem and I’m seriously coming round to running him in this.” Among Hurricane’s Fly likely rivals is Lieutenant Colonel, winner of the Hatton’s Grace and Christmas Hurdle this term. However, the Sandra Hughes-trained six-year-old is on a retrieval mission after being well beaten in the Ladbrokes World Hurdle at Cheltenham. 