| This is indeed a frightening thought for many | | | | It is a sad state when the gap between the |
| Australians. However, for many renters, | | | | 'haves' (investors) and 'have-nots' (aspiring |
| costly house prices are turning the great | | | | home buyers) is widening, and analysts do not |
| Australian dream of home ownership into | | | | predict changes in this trend any time soon. |
| exactly that - a dream. | | | | Moreover, median house and apartment prices |
| | | | have increased by such a huge margin, and are |
| Renters, especially those saving to buy, have | | | | continuing to increase, particularly in the |
| survived several harsh setbacks this year. | | | | inner city where tenant demand is strong. We |
| Agents revealed that in over 85% of cases, | | | | all must be aware of course that this has |
| rents have increased in the past 12 months, | | | | brought a smile to the face of investors. |
| and are likely to continue to increase until | | | | |
| 2009. This will be around the time when a | | | | Furthermore, the value of the investors' |
| new upsurge of apartments is expected to come | | | | property portfolios has increased in recent |
| onto the market, easing the shortage. | | | | years. This most certainly provides tens of |
| | | | thousands of dollars in equity, which in turn |
| At the same time, interest rates skyrocketed | | | | enables them to buy more property. Renters, |
| three times since the beginning of 2006, | | | | by comparison, must make serious lifestyle |
| making a total of eight times since 2002. | | | | changes to go up against rising rents, rates, |
| This has destroyed the borrowing capacity of | | | | stamp duty, and real estate values. The |
| prospective buyers. Those who dreamt of home | | | | easiest way to check on rental and homes to |
| ownership have had their dreams dashed. | | | | buy is online at in their Real Estate section |
| Melbourne's current 284,000 rented households | | | | you can register, login, and search the |
| must make big decisions this year. To buy or | | | | thousands of real estate property listings |
| risk being pushed out of the market. | | | | all for free! |
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