The federal government is looking at making Islamic home financing increasingly accessible to help more Canadians break into the housing market. As part of the 2024 federal budget that was released last week, Ottawa said it is “exploring new measures to expand access to alternative financing products, like halal mortgages.” Last month, the federal government started consulting … Read more
The Australian dream of owning your own home is being “crushed” by rising rents and over-inflated house prices, a new report finds. After reviewing more than 45,000 rental listings, Anglicare Australia’s rental affordability report has declared the market the worst it has ever been. “This is not hyperbole,” the report released on Tuesday said. Newsletters: … Read more
An Adelaide woman said she’s about to lose her dream home because she’s been slapped with a bill for an extra $144,000 on top of the original price to finish construction of the dwelling and she cannot afford to pay. Fidelma McCorry signed up for a development constructed by Lofty Building Group in October 2021 … Read more
The Liberal government’s plan to allow some first-time homebuyers to stretch their mortgage amortizations to 30 years will only improve affordability for a “sliver” of the housing market, according to a BMO economist. Finance Minister Chrystia Freeland announced Thursday that Ottawa would allow first-time buyers to take out an insured mortgage amortized over 30 years, … Read more
Canada will need to build roughly 1.3 million more new homes than are currently projected to eliminate the gap between housing supply and demand, according to a new report by the Parliamentary Budget Officer (PBO). The figure translates into about 181,000 additional units completed on average each year until 2030, to result in a total … Read more
The pain keeps piling on for Australia’s long-suffering renters. Asking rents rose their fastest in 17 years in the first quarter as the typically busy start-of-year changeover collided with an already tight market. The median cost of renting a house in the combined capitals reached a record $630 a week, according to real estate platform … Read more
A five-bedroom house in South Australia’s outback is being advertised for just $50,000. The Coober Pedy home on Big Johns Rd includes air-conditioning, built in wardrobes and is located near the town’s main street. Real estate agency, Andrews Property Regional SA, said the previous tenant was paying $180 per week to stay in the home. … Read more
Tens of thousands of homes are vacant across NSW, new data has revealed, as state and federal governments scramble for solutions to the country’s housing crisis. In New South Wales, about 43,183 inactive or vacant homes have been identified, with about 22,000 of the houses in Greater Sydney. The City of Sydney has 1757 inactive … Read more
House prices have surged more than 30 per cent across Australia since the outbreak of COVID-19, a report has found. Since COVID was declared a global pandemic in March 2020, property group CoreLogic found its national home value index rose by 32.5 per cent. The increase meant the median value of an Australian house rose … Read more
The Australian suburbs where buyers can secure a home with mortgage repayments on par with the nation’s average rent have been revealed in new data. Australia’s median weekly rent was $570 last year, according to CoreLogic’s 2023 rental report. An analysis of the market by PropTrack found more than 350 locations across the country where … Read more
