News & Inspiration

Australian home buyers: Finding a rung on the property ladder

Aug 17, 2017 | Inspiration

Infographic: Finding a Rung on the Australian Property Ladder

Download a PDF of this infographic [PDF 6.2MB]

DWELLING STRUCTURE AND TENURE TYPE, 2016 (A), (B), (C)

DWELLING TYPE	PERCENTAGE
Separate houses	72.9%
Semi-detached, row or terrace, townhouse	12.7%
Flats, apartments	13.1%
Caravan	0.3%

TENURE TYPE	1991	2016	CHANGE
Owned outright	41.1%	31.0%	↓
Owned with a mortgage	27.5%	34.5%	↑
Rented	26.9%	30.9%	↑

(a) Includes households in occupied private dwellings only. Excludes visitor only and non-classifiable households.

(b) Owned with a mortgage includes ‘Being rented under a shared equity scheme’.

(c) Rented includes ‘Being occupied rent free’.

FINDING YOUR FIRST RUNG ON THE PROPERTY LADDER

#1: Invest in a new build home

Customise your home before construction starts —layout, facades, colour palettes
No need for renovation / DIY
Less maintenance
New homes reflect today’s design elements and trends
New builds are usually more energy efficient (which leads to lower power bills)
New builds often come with new technology
“That new home smell”

#2: Buy an existing home

Older homes may come with their own historical features which can be charming
If you DIY you may enjoy the maintenance that an older home requires

#3: Knock down, rebuild

Why not knock down and rebuild?

You own the land already
You know the neighbourhood
You just want a newer, nicer home

LOCAL HOUSE TRENDS

Median house price

LOCATION	MEDIAN PRICE (JULY 2015-JULY 2016)	MEDIAN PRICE (JULY 2016-JULY 2017)	CHANGE
Berry	$768,300.00	$1,000,000	↑ 23.17%
Shell Cove	$709,816.00	$830,000	↑ 14.48%
Shellharbour	$643,733.60	$808,000	↑ 20.33%
Flinders	$600,100.00	$680,000	↑ 11.75%
Wollongong	$693,334.50	$821,000	↑ 15.55%
Worrigee	$399,712.50	$475,000	↑ 15.85%
Nowra	$302,412.00	$395,000	↑ 23.44%
National Average	$464,145.00	$485,000	↑ 4.30%

Rent per week

LOCATION	RENT PER WEEK
Shell Cove	$590
Shellharbour	$530
Flinders	$520
Berry	$510
Wollongong	$500
Worrigee	$400
National Average	$395
Nowra	$350

Those weekly rent payments could be paying off your mortgage!

Mincove Homes are knock down rebuild specialists. They can combine the benefits of an existing site with the convenience and comfort of a new build.

Sources

Census of Population and Housing 1991, 2016
http://www.abs.gov.au/ausstats/[email protected]/Lookup/by%20Subject/2071.0~2016~Main%20Features~Snapshot%20of%20Australia,%202016~2
Median prices and rent pert week information from https://www.propertyvalue.com.au

BROWSE ARTICLES BY

Building a new home checklist

Choosing to build a new home from scratch is a great way to create the home of your dreams, without having to compromise on the features or location you’re looking for. The location, design and fittings are completely up to you, meaning you can create a home which is ideal for your family and your lifestyle.

Home organisation tips for the new year

We caught up with Edel Beattie, AKA The Happy Organiser, to get her expert tips on how to start the new year feeling more organised.

Deck the halls

There’s nothing quite like the feeling of enjoying the festive season with loved ones in your beautiful, newly built home. To make it feel extra special, we’ve pulled together our best advice on how to decorate your new home for your first Christmas in it.

Building a new home checklist

Choosing to build a new home from scratch is a great way to create the home of your dreams, without having to compromise on the features or location you’re looking for. The location, design and fittings are completely up to you, meaning you can create a home which is ideal for your family and your lifestyle.