Homeowners move in, but it’s not cheap
Homeowners in rural New South Wales, Australia are moving into their new homes with some very high expectations.
“I’ve always wanted to live in a place that I feel like I belong,” said one person moving into a new house in Sydney’s inner west.
“I don’t want to leave my home.”
The move into a house was the result of a housing benefit scheme, which allows Australians who earn less than $56,500 to move into their own home, with no upfront cost.
The government has said it will also support people moving into more affordable houses through its mortgage assistance scheme, and the Federal Government has also pledged $400 million to help people buy their first home.
However, there are concerns that people with lower incomes will be left out of the benefits, and a lack of certainty around where they will be housed means it’s difficult for many to find suitable homes.
“[The housing benefit is] going to be used as a means to help out the people who don’t have the money,” said the person moving in, who asked not to be named.
“The more affordable the house is, the better off the government will be.”
The average house price in NSW is $1.6 million, while a two-bedroom house costs $1 million, and one-bedroom homes are only $500,000.
The Government has pledged $500 million to build more affordable homes, but some experts have said that could take many years to build.
“It’s going to take many, many years before people get the houses built,” said Alan Boulton, senior economist at the Australian Institute of Family Studies.
People moving into homes in the rural communities are worried that they won’t be able to afford to live there, and that will be a blow to rural economies.
“I have a house on the outskirts of Sydney, and my mortgage is about $900,000 and it’s just not affordable for me to live on the fringe,” the person said.
While some people have already begun to move in and the move in rate is increasing, many others have had to wait until the new year to move.
“We’re not moving in,” the house owner said.
“We’re just waiting to get some new houses built.”ABC/AFPTopics:housing-industry,housing-planning,business-economics-and-finance,social-policy,housing,government-and.govt-and/or-politics,housing—state-issues,housingsource Business Insider,New South Wales