New data suggests falling house prices in Sydney and Melbourne are concentrated in the upper market segments, potentially assuaging fears for first-time buyers with small deposits who typically purchase in the lower end.
Fears of negative equity for first-time buyers in Sydney and Melbourne are easing as falling house prices are concentrated in the top end of the market. Data shows the cheapest properties have seen modest gains or slight declines, unlike the upper quartiles. Experts suggest low unemployment and low arrears rates mitigate mortgage payment risks, though negative equity can limit options for selling or refinancing.
Two Hong Kong policy think tanks released a survey finding that younger residents aged 18-40 have a weaker desire for home ownership (5.06/10) compared to those over 40 (5.8/10). Among those not eager to buy, 46.4% cited unaffordable flat prices and 21.3% cited mortgage burden. The study calls for allowing young families to use mandatory pension savings for home purchases, offering housing loans to first-time buyers, and halving down payment requirements for middle-income buyers of government-subsidised flats.
Its population is booming from incomers from Cardiff and Bristol, stretching its housing market thin.
