{"id":33636,"date":"2023-07-07T15:48:34","date_gmt":"2023-07-07T05:48:34","guid":{"rendered":"https:\/\/www.dnister.com.au\/?p=33636"},"modified":"2023-07-07T15:50:35","modified_gmt":"2023-07-07T05:50:35","slug":"homebuying-intentions-climb-as-aussies-untie-themselves-from-rental-crunch","status":"publish","type":"post","link":"https:\/\/www.dnister.com.au\/uk\/homebuying-intentions-climb-as-aussies-untie-themselves-from-rental-crunch\/","title":{"rendered":"Homebuying intentions climb as Aussies untie themselves from rental crunch"},"content":{"rendered":"

Despite the soaring cost of living and successive interest rate hikes, homebuying intentions have climbed, latest data shows. So why are so many people still chasing the great Australian dream? And what can you do to make your own dream a reality?<\/p>\n

Despite a flurry of rate rises, new data this month shows homeownership is once again a top priority for many Australians, with the number of house hunters increasing. May also saw\u00a0new home sales increase across Australia<\/a>\u00a0for the second month in a row.<\/p>\n

So what\u2019s driving this appetite for property when finances are increasingly tight for many? And how can you boost your own chances of cracking the market sooner?<\/p>\n

Rental squeeze<\/h3>\n

Across capital cities and major regional areas, there have been historic rental price increases and low vacancies.<\/p>\n

Rental\u00a0vacancies reached an all-time low of 1.1% in April<\/a>, with the median price for\u00a0renting a unit only $39 a week cheaper<\/a>\u00a0than renting a house.<\/p>\n

Rising overseas migration has contributed to stiff competition in the rental space too \u2013 in the March quarter there was a\u00a0124% jump in rental enquiries year-on-year<\/a> from one overseas country alone.\u00a0Understandably, many are looking to escape renting and grab their spot on the property market.\u00a0But with rate hikes and inflation, saving a deposit is no easy feat for many Australians.<\/p>\n

Stamp Duty concessions could save you money<\/h3>\n

One home-buying cost that can have a real sting in its tail is stamp duty.<\/p>\n

Fortunately for first-home buyers though, state governments have stamp duty concessions available \u2013 including South Australia, which\u00a0announced last week<\/a>\u00a0that it was scrapping the tax for first-home buyers on new homes valued up to $650,000.<\/p>\n

Meanwhile,\u00a0Victoria<\/a>,\u00a0New South Wales<\/a>,\u00a0Queensland<\/a>,\u00a0Western Australia<\/a>,\u00a0Tasmania<\/a>, the\u00a0ACT<\/a>, and the\u00a0Northern Territory<\/a>\u00a0also offer stamp duty concessions. This can either eliminate or reduce the cost of stamp duty, if eligible.<\/p>\n

Dnister\u2019s Lending and Members Services Executive, Ivanka Bernyk reminds potential homeowners that some state governments are trying to lend a hand.\u00a0 \u201cMost state governments offer stamp duty concessions to help you get the keys to your own home sooner.\u00a0These stamp duty concessions could go a long way to saving on purchase costs depending on your state and other eligibility criteria.\u201d<\/em><\/p>\n

If you\u2019d like to find out your borrowing power and what loan options are available, give us a call today.<\/p>\n

Get in touch<\/h3>\n

Call Dnister today on 1800 353 041 and arrange to speak with a Lending Specialist or book an appointment\u00a0online.<\/a><\/p>\n

 <\/p>\n

Disclaimer:<\/strong>\u00a0The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. In providing you with this information you should consider the appropriateness of this advice with regard to your particular financial situation and needs. We advise that you carefully read our Home Loan Key Facts Sheet and TMD before acquiring a loan product. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent. Applications are subject to Dnister credit assessment criteria. Interest rates are subject to change without notice and should be verified with your local branch. Terms and conditions, including fees and charges, apply. For full details on our products and an analysis of your personal requirements, please arrange for an appointment with one of our friendly lending staff by contacting your local Dnister branch<\/p>\n

 <\/p>","protected":false},"excerpt":{"rendered":"

Despite the soaring cost of living and successive interest rate hikes, homebuying intentions have climbed, latest data shows. So why are so many people still chasing the great Australian dream? And what can you do to make your own dream a reality? Despite a flurry of rate rises, new data this month shows homeownership is […]<\/a><\/p>\n","protected":false},"author":12,"featured_media":33637,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[42],"tags":[],"class_list":["post-33636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"yoast_head":"\nHomebuying intentions climb as Aussies untie themselves from rental crunch - Dnister Bank<\/title>\n<meta name=\"description\" content=\"Homebuying intentions have climbed despite interest rate hikes and rising living costs. 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