COVER STORY BUY, KEEP, OR SELL: YOUR PROPERTY GOALS
Traditionally, Australians have built wealth for their later years by buying a family home and paying it off. Having a mortgage-free home going into retirement not only gives you the security of your own place to live in, it opens up opportunities to increase the amount of money you have available to enjoy your life. But rising house prices – combined with steeply
But rising house prices – combined with steeply rising interest rates over the past year – mean many people, especially the young, find it much harder to pursue the great Australian dream of owning their own home.
Homeowners are facing the worst housing affordability since 2008, as mortgage repayments eat a huge chunk of their income, according to
