Affordability pressures ease
In the news this week, investor lending bounces; how age might impact your mortgage; and reducing microplastics at home
Affordability improving: REIA
Housing affordability pressures are starting to ease, the Real Estate Institute of Australia (REIA) announced this week, citing official lending figures.
Recent data from the Australian Bureau of Statistics (ABS) shows new loan commitments for dwellings increased by 1.9 per cent over the quarter, with values rising 2 per cent. REIA President Leanne Pilkington suggested that the growth in new loans, particularly among first homebuyers, signals better access to finance and a cautious return of confidence.
Investors drive lending growth
New investment lending lifted results in the June quarter, according to data released this week by the Australian Bureau of Statistics (ABS).
The latest figures show that the number of new investment loans rose 3.5 per cent in the June quarter, while new owner occupier loans rose by 0.9 per cent. The overall rise in lending followed a fall in the March quarter.
Furnish a healthy home
The dangers and growing presence of microplastics in all aspects of our lives have been in the news lately. They are in the food we eat, the water we drink, the clothes we wear and the furniture and furnishings of our homes.
Here are some ways you can make your home safer for everyone...
Does age impact your mortgage?
Many young Australians are putting off settling down and buying a house. But if you get your first mortgage at 40 for the standard term of 30 years, you might be paying it off well into retirement. Here’s how to make it work for you.
City made of wood
No stranger to innovation and sustainability, Sweden will soon be home to the world's largest wooden city, offering ‘the serenity of a forest’.
Designed by Danish studio Henning Larsen together with Swedish firm White Arkitekter, Stockholm Wood City will have 2,000 homes and 7,000 office spaces over 250,000 square metres (around 10 blocks). The buildings are being constructed from fire-proofed mass timber and will incorporate natural elements such as green roofs for better insulation and large windows for natural light.
Construction started in 2024 and the first buildings are expected to be completed by the end of 2025.
Space, views and history
Ever just want to get away from the crazy pace of everyday life? Or maybe live in Scotland? Now you could combine the two, in a 175 year-old lighthouse on a remote Shetland island.
Listed for offers over £350,000 (AU$729,000), Bressay Lighthouse comes with the lighthouse keeper’s home and two cottages originally built in 1858 by David and Thomas Stevenson, who was the father of Robert Louis Stevenson. Image: Savills