Australians looking to downsize their houses as cost of living bites - realestate.com.au

Financial downsizing, however, is defined as moving from a larger to a smaller dwelling of lesser value - whether that be as a homeowner or tenant - to save on ongoing household expenses.

To comfortably absorb the recent interest rate hikes a household would need to be earning a minimum income of $180,000 – significantly more than the average salary. Picture: Supplied Comparison site Finder recently revealed that 13 per cent of Australians they surveyed have been forced to find a more affordable property as they feel the pinch of inflation. Picture: Supplied

While downsizing a home, and subsequently a mortgage, might seem like the logical step for homeowners with tight budgets, Mr Whitten said the costs of moving can often be counterproductive.For an average Aussie with a $500,000 home loan, repayments have jumped by about $900 a month since April last year when interest rates starting climbing sharply. Picture: Supplied

Source: Real Estate Daily Report (realestatedailyreport.net)

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

PM says the Voice referendum is a chance for Australians to show their 'best qualities'The federal government plans to hold a referendum on the Voice in the second half of this year. 9News
Source: 9NewsSyd - 🏆 23. / 51 Read more »

PM says the Voice referendum is a chance for Australians to show their 'best qualities'The federal government plans to hold a referendum on the Voice in the second half of this year. 9News He is dividing the country. The song says we are one but we are many. One voice. I think referendums on whether we should get involved in international wars would be good. Let the majority of Australians decide. Lay out all the relevant facts & historical context in a brief (incl facts the media narrative typically leaves out) Maybe get your issues with alcohol issue sorted first. Just sounds like drunk rambling
Source: 9NewsAUS - 🏆 10. / 72 Read more »

Newspoll shows majority of Australians support VoiceThe majority of Australians will support a constitutionally enshrined Voice to Parliament when a referendum is held on the issue later this year, a new poll has revealed. We'll see... Idiots Interesting proof that Twitter is swarming with opinion bots supporting NO.
Source: SkyNewsAust - 🏆 7. / 78 Read more »

Price: Australians ‘duped’ into voting yes for VoiceNorthern Territory Senator Jacinta Nampijinpa Price has claimed Australians are being “duped” into voting for the Indigenous Voice to Parliament after new polling revealed majority support for the constitutional change. Jacinta needs a lot of silent Aussies. 'Hitting back' at a public opinion poll is called denial. Voice = Apartheid Plain and simple.
Source: SkyNewsAust - 🏆 7. / 78 Read more »

Jim Molan was ‘one of our greatest Australians’Opposition leader Peter Dutton has paid tribute to Liberal Senator Jim Molan, who passed away last month. “Very few Australians could claim to have lived as fully as Jim Molan,” Mr Dutton said during his address in parliamentary Question Time on Monday. “In farewelling Jim, we can say that he represented everything great about Australia. “He was one of our greatest Australians.” Rip sir.
Source: SkyNewsAust - 🏆 7. / 78 Read more »

Australians are spending ‘billions and billions’ every year on health systemThe Institute of Public Affairs' Daniel Wild says Australians are spending “billions and billions” of dollars each year on the health system and Medicare gaps. “Let me give you an example here in Victoria … there’s been this proliferation of the clipboard class where we’ve had about a 25 per cent increase in the number of bureaucrats on these big six-figure cat-fat salaries,” Mr Wild told Sky News commentator Steve Price. “As I say more, money going into the system than ever before, but waiting times are exploding, results are going backwards, and many Australians are wondering, well where is this money going?'” Good job sherlock! TheIPA .... 💩 Perhaps Daniel should move to the United States, and enjoy their magnificent made for profit 'healthcare' system.
Source: SkyNewsAust - 🏆 7. / 78 Read more »