Chancellor Jeremy Hunt will deliver his 2024 Spring Budget on Wednesday 6 March. It was originally thought he would introduce a 99% loan-to-value mortgage scheme, but recent reports suggest that plan has been abandoned. The Sunday Times also reports that holiday lets have been targeted for a tax raid by Hunt. The industry reflects on what they want, and expect, tomorrow.
Daniel Austin, CEO and co-founder at funding specialist ASK Partners
With housing set to be a battleground point in this year’s election, it is expected to feature heavily in Wednesday’s Budget. As the sector moves to the top of…
“The lack of affordable and suitable rental options when living alone is likely to be implicated in these complex housing dynamics over time, contributing to a more enduring structural change of who can afford to rent independently without a second income to rely on,” the report said.
Low-income earners could only afford to pay $225 per week in rent, study author and Swinburne University of Technology researcher in urban and regional planning Margaret Reynolds estimated, and it was impossible to find rental properties for that price, especially in Sydney and Melbourne.
Rents have jumped since the research period. Sydney’s median…