High property prices and our appetite for debt are taking their toll.
A one-bedroom unit that was once a space in a roof cavity in Sydney’s prestigious suburb of Elizabeth Bay sold for $1 million last month. Yes, it has some impressive views but it came with just 50 square metres of living space and a shared balcony, and there was no garage. That’s $20,000 a square metre – talk about runaway house prices! It’s no wonder the Reserve Bank is concerned for our financial welfare. Our insane appetite for debt and a ridiculously overpriced property market is putting a lot of Aussies in a very delicate situation.
Esta historia es de la edición May 2017 de Money Magazine Australia.
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Esta historia es de la edición May 2017 de Money Magazine Australia.
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