Moving House or Not
According to Roy Morgan research 40.7% of Australian’s have been at their current address for 10 years or more. While 17.4% have not moved for between 5 and 10 years, then those living at their address for less than 12 months was 14.3%. Australian’s most stable regions were noted as Country SA and the ACT while those areas with the most movement were Brisbane and Country Queensland. Ownership and rental trends help explain these figures. People living in Country SA, the ACT lead the nation in terms of home ownership, while the proportion of Queensland residents living in rental properties are above the national average.
Why do we give houses names? Until around about the mid 18th, when numbering homes became a more common practice, giving your house a name was the only way you could locate find, so that’s pretty-good reason. It was also a way to gain a little prestige and followed the upper crust English fashion to name the ancestral home. It’s a practice that still has some appeal for anybody who cares to name their house or holiday home wherever to make it feel most like home. Naming our homes or indeed apartment buildings is a way of summing up how we feel about ourselves, the location of history and so creates a place, a home that is very much of our own.
There’s lots of publicity been given to the bank of mum and dad as a way to help afford a home. Another and increasingly popular way is as an owner-builder, with estimates suggesting it’s possible to save about a third of building costs. However, while it’s a well-establish and easy way to build there are some hurdles to keep in mind. Owner-builders are still legally responsible for ensuring all sub-contractors are licensed and insured and provided with a safe working environment. It’s also harder for owner-builders to secure a construction loan as most banks only will only lend up to 60% per cent of the land value plus construction costs. Lenders normally make progress payments rather than a lump sum, with each payment dependent on the project reaching a certain stage and this can create cash-flow problems.
Apartments Not a New Concept
Apartments can range from luxury multi-million dollar penthouses to a collection of converted containers and apartments are now very popular. However, the origins of apartment living date back to Roman times. Like modern cities those in the Roman Empire, suffered urban congestion giving rise to communal living while, individual houses were the domain of the rich. Roman apartment buildings could be up to six or seven storeys high. However, as lifts had not been invested the higher the floors the cheaper rents became. The arrival of more luxury apartments only appeared in Paris and other large European cities during the 18th century.
Fixed Rates Loans – Demand Falls
With the RBA keeping rates on hold, it appears home buyers are comfortable with the notion that rates are not set to rise any time soon. According to Mortgage Choice, despite a drop in demand recently one in five borrowers opted for a fixed rate mortgage. Loan approvals show that fixed rate home loans accounted for 21.35% of all loans, down 0.4% as borrowers favoured variable rate home loans. According to the company’s national data, fixed rate demand was the highest in New South Wales and Queensland, with 25.69% and 24.29% respectively. Victoria by contrast had the lowest demand for fixed rate mortgages, accounting for 12.77% of all home loans written.
Australia leads world in household solar panels
Yuma, Arizona USA is one of the world’ sunniest places with 4015 hours of sunshine a year and 11 hours a day. Australia ranks lower with 3569 hours and 9.8 hours a day. However, much more sunshine here shines on our cities which helps Australia achieve the highest rate of household solar panel installation in the world, that’s according to the Energy Supply Association of Australia. The report found about 15% of Australian homes had solar panels. South Australia and Queensland lead the use of solar panels, and in some Brisbane and Adelaide suburbs more than half of all homes have solar panels.