RESIDENTIAL PROPERTY
MELBOURNE homebuyers who bought in the outer suburbs because homes were more affordable are $80,000 worst off, because they are...
According to a SGS Economics and Planning report commissioned by Great Southern Bank, the ongoing costs of a two- or three-bedroom house in...
SGS found that once ongoing living expenses – such as higher energy bills, fuel and public transport – are added to mortgage payments, owners of...
The additional annual cost is more than $16,000 for a three-bedroom house, or $80,000 over the first five years of owning a home...
Great Southern Bank chief customer officer Megan Keleher said potential homebuyers need to understand the sometimes-forgotten ongoing costs of...
“While homebuyers are often attracted to the affordable purchase price of homes in outer growth suburbs compared to the inner city, this research highlights the ...
The report found parking, car ownership, fuel and public transport costs were more than twice as much for those living in outer growth suburbs at ...
“While some Australians are offsetting this cost by working from home, it remains an important consideration for those who regularly...
Household running costs, including energy and water, were also higher for larger homes with gardens in the outer suburbs. With power bills rising by more than ...
Household running costs, including energy and water, were also higher for larger homes with gardens in the outer suburbs. With power bills rising by more than ...
SGS principal Andrew McDougall said there are large costs attached to housing residents in new suburbs on the urban fringe, rather than in established areas...
“These include increased infrastructure costs, commuting cost and time, and potential environmental impact of transport and land consumption...
Recently the NSW Productivity Commission’s found that by building new homes and leveraging existing infrastructure in established suburbs...
Meanwhile the Victorian government recently announced its Housing Statement – The Decade Ahead 2024-2034, a plan to deliver 800,000 new homes...
Outgoing premier Daniel Andrews has promised to reform the planning system and cut red tape, which he blamed for delaying supply of...
Keleher said when homebuyers are weighing up options, it’s worth factoring in potential costs of home ownership over the next three, five, or 10 years...
“The property location and size of the home can impact ongoing living expenses, including energy and water bills and transport costs. These factors are...
Keleher said existing homeowners who don’t have energy efficient features in their homes, or who face longer commuting times, do have options to...
The bank recently launched new personal loans recently, designed to help customers cut their energy costs and reduce the emissions from their cars and homes.