SYDNEY PROPERTY MARKET SKYROCKETS
It been a 1.3 75 right hand side here selling houses in Australia is often great the atre. it's here that dreams of property ownership are made but at a cost 1 million seven hundred and twenty-five the prized for a run down four bedroom home in a leafy suburb more than 1.3 million dollars competition for this property. that lies about a half-hour drive from the center of Sydney has been intense house prices in Australia's most expensive city have soared by almost sixty percent in the last five years and many prospective buyers fear being priced out of the market been looking for a while at least huffy. you know having new baby and keep looking on the market to find a perfect opportunity.
it's quite demoralizing in the moment much of Australia's growing population hugs the east coast where space in the major centers is often scarce as prices in Sydney continue to rise a coalition of charities wants to go into partnership with first-time buyers who otherwise would be locked out of the market. you'll take out a mortgage for your share and the community housing provider will pay the rest of a mortgage on that property and at some point. if your income goes up you can actually what we say is staircase up by another slice of that property as well with a young family to support Sydney Property valuer. whose support is above the national average says a shared ownership scheme is his only chance of buying a home in Sydney.
where he's seen prices spiral out of control astronomical yeah it's a difficult market to get into you know for someone like my owner you know a decent wage of about eighty five thousand dollars a year but to try and support my family pay my rent and get a ten percent deposit. it's just an impossibility you know it's a you know the old Australian dream of owning a home is it's not a reality anymore there are many reasons why house prices are soaring among them record low interest rates tax breaks for investors and foreign buyers getting ready to smile first time second time as another expensive property.
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