Home is where the family is...

More than ever before, young Australians are living longer with their parents.  Yet they are also more likely to move across the country than any other generation, according to the latest Australian Social Trends publication from the Australian Bureau of Statistics (ABS).

Young people are more likely to continue living longer with their parents than in previous decades. In 2006, almost one in four people aged 20-34 was living in the parental home.

Almost half of those who leave before their mid-30s return home at least once, usually within three years. Money issues were a common reason young people stayed home, but many also said they enjoyed living at home and it was convenient.

The figures also show that young Australians today are more likely to move across the country than any other generation.

Of the nearly two million Australians who moved to a new city or region in the five years to 2006, 40 per cent were aged between 20 and 39.

Southeast Queensland - particularly Brisbane, Gold Coast/Tweed and the Sunshine Coast - and southwest Western Australia were found to be the most popular destinations.

 

What motivates property investors?

Property is seen as a low-risk investment, guaranteed to yield long-term capital gains, according to a report released this week by the Australian Housing and Urban Research Institute (AHURI).

Many private rental investors perceive property as a long-term, safe and stable investment that is low risk and will produce guaranteed returns.  The report found that investors generally expect capital gains from investing rather than rental yield, and this is how they measure the success of their investment.

But it's not just about the money. Other reasons include personal goals (i.e. retirement home or future home for children at university) and household circumstances (i.e. proximity to their own dwelling).

Sentimentality and informality characterise investors' approaches to the housing market. Property is considered familiar, relatively easy to invest in (not mysterious and complex like other investments) and something lots of people do.

The research found that many investors use their own measures of quality and personal preference when selecting a dwelling even though they will not be living in the property.

Age and personal circumstances (i.e. retirement), rather than market factors, appear to be the dominant considerations for those who had recently sold property or were intending to sell in the immediate future.

What Is A Mortgage Broker?

Have you ever wondered what a mortgage broker is?  Read on…

Mortgage brokers are consumer advocates in the home loan selection process, helping home buyers to pre-qualify, select a home loan, and complete the required documents.  They follow the purchase or refinance through to settlement providing a smooth and convenient transaction.

By linking with banks, other financial institutions and private lenders, mortgage brokers offer consumers access to a wide range of home loan choices as they select the right mortgage for their needs.

Consumers receive an expert mentor to lead them through the complex home loan lending process.  Mortgage brokers offer the Australian consumer the convenience of extensive choices and access to affordable home loans while balancing the consumers financial interests and goals.

What do you think? Could you use the services of a Mortgage Broker to organise your home loan. Call us for a chat about what you need today!