Buyers Head West
Many Australian families and first-home buyers are heading to the western suburbs of Sydney where houses are more affordable. With getting onto the property ladder harder than ever and housing affordability a serious issue, people are becoming clued in to where the cheaper suburbs are. However, Sarah Toohey from Australians for Affordable Housing says that it is important to look where the cheaper suburbs are because buying an affordable family home in a neighbourhood without amenities could actually raise a family’s living expenses.
“There is a trade-off with lower-priced properties. Families might be able to afford a home in an area, but if they are not near transport or have to use two cars to get around then maybe it’s not that affordable,” she said. It seems buyers are definitely heading west, enjoying paying off mortgages rather than renting in more ‘superior’ suburbs in the city.