Owner-occupiers driving house demand


Greg Jericho in the Guardian:

House prices remain a major issue of the economy as once again we see prices in Sydney and Melbourne go up after significant falls. For now the market is being driven by owner-occupiers, and investors remain largely absent. That is good news for first-home buyers who are make up a greater share of buyers than at any time since the GFC.

As it should be. Houses are for living, not speculating. Every property investor has deprived a family of a home they can afford to buy. If you disgaree and think we should all be renters, then by all means advocate for amendments to tenancy legislation to bring Australian states in line with Western Europe.

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