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Mortgage holders are increasingly concerned about a potential interest rate increase by the Reserve Bank in August due to recent inflation trends. Compare The Market has provided estimates on how monthly repayments could rise for mortgages of various amounts if the cash rate goes up by 25 basis points.

The proportion of Australian homeowners falling behind on mortgage repayments has reached an eight-year high, driven by persistent inflation and high interest rates. According to a report by Fitch, the number of mortgage holders in arrears by 30-59 days has climbed to 0.48%, the highest level since 2016. Additionally, 30+ day arrears have risen by 9% to 1.3%, marking the third consecutive quarter of increases.

New data from Domain reveals that the median price for rental houses in Sydney remained at a high of $750 per week in June 2024. This amount continues to represent the highest median rent among Australia’s capital cities, marking a 7.1% increase from June 2023.

Australia’s federal government has set ambitious targets to construct 12 million new homes by 2029, but faces challenges due to the construction industry’s significant greenhouse gas emissions. These emissions stem from both day-to-day energy use (operating carbon) and materials used in construction (embodied carbon).

Once a symbol of social housing in Sydney, the Sirius building has undergone a controversial transformation into luxury apartments, with prices starting at $15 million. The final 76 apartments, sold for approximately $150 million in 2019, mark a significant shift from its original purpose.

Victoria’s state government has unveiled draft council targets aimed at facilitating the construction of 25 million new homes by 2051. These targets are designed to meet the burgeoning population and housing demands across various local government areas (LGAs), with a strategic focus on established suburbs.

The New South Wales budget for the upcoming fiscal year is prioritizing social affordable housing, regional development, and essential services across Sydney and beyond. Treasurer Daniel Mookhey underscored the need for sustainable solutions to tackle the housing crisis, emphasizing the importance of securing future prosperity and preventing talent drain.

Louise Wilksch, a 71-year-old renter, was asked to vacate her long-term home in Victoria, leaving it empty. This situation has sparked debate over eviction laws and taxes on vacant dwellings.

As housing prices and living costs soar across Australia, many individuals are grappling with the burden of substantial mortgage debts that may never be fully repaid. This trend has led to the emergence of “forever loans,” marking a significant shift in how Australians approach home ownership, particularly among different generations.

During winter, many homes in southern Australia struggle to maintain comfortable indoor temperatures, often falling short of recommended guidelines. This issue is compounded by landlords who historically lacked incentives to improve energy efficiency in rental properties.