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A map showing the ability of Australian suburbs to buy houses based on their deposits shows the cruel reality of trying to break into the real estate market.
In Sydney, Save up to $100,000 Whoever intends to put down the 20% deposit, only six suburbs can afford it.
All apartments are located in outlying cities, more than 40 kilometers from downtown Sydney, including Australia, Elders, Blackett, Bidwell, Box Hill and Wilmont.
Canberra does not have houses with the same deposit, making the situation in the capital even worse.
Melbourne offers more options for savings of $100,000, and you can buy more than 10 suburbs, including Wyndham Valley, Rockbank, Dallas Meadows and Highlands and Coolaroo.
Created by Aussie Home Loans Suburb Attractions Map Use CoreLogic data to help potential buyers find Australian suburbs they can buy based on median real estate prices and deposit amounts.
related: Signs of overheating in the real estate market
Research by mortgage brokers found that more than one-half of Australian home buyers are unsure of how to take the first or next step to achieve their real estate goals, and more than half believe that market pressures put them in trouble.
Surprisingly, given Soaring house prices Across Australia, 80% of respondents believe that 2021 will be a good year for their real estate plans. Compared with June 2020, real estate buyers feel more optimistic.
Confused and ill-prepared homebuyers
David Smith, chief executive officer of the Australian Mortgage Corporation’s loan business, said that for most people, buying a property is a big deal, but many buyers are confused and overwhelmed.
“In today’s real estate market, it’s easy to be intimidated by the large numbers you see on your property listings-so we want to show Australians the tangible amount you need to reach your goals. We think, show buyers 5 %, 10, 15 or 20% of the deposit is important to get you into the map,” he told news.com.au.
“Two-thirds of aspiring buyers Missing attributes Because the market is too competitive, more than half of the people don’t know which suburbs they can afford, and two-fifths are confused about the current housing prices in the suburbs they want, so the current real estate boom is creating a kind of “gradual” Paralyzed” many Australians. “
News.com.au has previously revealed the heartbreaking reality for many Australian families. Striving to acquire property Ladder of savings Between $100,000 And $135,000.
Mr. Smith believes that although he admits that “competitive market conditions can be frustrating,” there are still plenty of opportunities.
“According to our research, two-thirds of homebuyers missed the opportunity to buy a home because they were not ready to obtain pre-approval. When you do find a home, obtaining financing in advance allows you to freely focus on price negotiation-rather than laboriously At the same time looking for suitable housing loans,” he said.
“Usually, it is also easy for you to bargain quickly and be able to fully approve your loan and exchange contract before anyone else in the market.”
related: The most difficult place to buy a house in Australia
He added that for beginners, taking the first step without experience in the real estate market is particularly difficult.
He said: “So for anyone staying at the starting point or destination, the suburban observer map can help you find suburbs that can be bought across the Australian suburbs based on the average deposit required.”
“This is also a great way to explore and expand your property search; because neighboring suburbs may still provide the lifestyle you are looking for-without paying a higher price.”
The light of hope in some cities
But this is not all bad news Homebuyers All over Australia.
The map shows that there are many suburbs in Adelaide, Brisbane and Perth that can be bought in banks for less than A$100,000.
Leila Cienciala, a single mother who works in real estate management, believes that she will never be able to buy a house like a client at her door.
But she was able to get her first property in March. It took her two years to achieve this goal, accumulating $8,500 in savings in the past 10 years, and then controlling spending to increase her savings to $40,000.
The plan she followed is similar to the plan suggested by barefoot investors, with four separate accounts for daily expenses, savings, school, sports, and bills.
She took two teenage daughters with her, and looked at the shrewd spending, like buying second-hand clothes.
Two months ago, she snapped up a three-bedroom house in the northern suburbs of Adelaide.
The 40-year-old said that he was “capable” to own her house and provide her family with a sense of security.
“With the COVID, we have seen a surge in rental demand, there are not enough properties, and single parents are competing with high-income earners. Now, I don’t know what to do, I think I’m happy to own my own house without having to Worried about moving the house every three years because the owners sold their investment properties or carried out renovations,” she told news.com.au.
“For the past 15 years, I had to move every three years. It’s frustrating that people started inspecting houses every three months for routine inspections, and we don’t have to deal with it anymore. Kids can Put photos on the wall, and I can drill a hole in the wall to place a mirror or clock, so that I can give it strength, fun and a sense of security.”
The Australian housing loan research also found that people are confused about understanding the language of housing loans, how to obtain the required funds or housing loans, and the pre-approval process.
Australia’s ten most unaffordable suburbs ranked by median house value:
Lane Cove, Longueville, $3,641,690
Waverly, Dover Heights — $3,242,502
North Beach Clontarf, $3,164,193
North Beach Palm Beach-$3,055,580
Liverpool Bringelly-$3,034,600
Balgowlah Heights, North Beach — $3,009,225
Willoughby, Castlecrag — $3,008,90
North Bridge, Willoughby — $2,933,663
Waverley, Vaucluse, $2,786,127
Hunter Mountain-$2,748,552
The ten most affordable suburbs in Australia, sorted by median house value:
Norrisman, Washington — $58,286
Cunnamulla, Kundana-$70,428
Coober Pedy, SA-$76,346
Coonbull, New South Wales — $81,747
Burke, New South Wales – $84,494
Queensland Black Market-$84,588
Charleville, Queensland – $84,826
Peterborough, SA — $87,530
Weeva, New South Wales – $87,596
Coolgardie, Western Australia-$90,287
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