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.
The new owners of the Wieambilla property where two police officers and a neighbour were killed are open to maintaining a memorial on the site, according to Aidan Train, son of two of the killers. The sale has drawn criticism from the police union and victims' families.
A new law published in Turkey's Official Gazette limits the unilateral budget-setting power of site managers. Property owners now have the final say on aidat (fee) amounts, with temporary budgets valid for only three months and capped at the revaluation rate.
