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Housing Affordability and Housing Investment Opportunity in Australia
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Housing Affordability and Housing Investment Opportunity in Australia

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AcknowledgmentsList of TablesList of FiguresList of AbbreviationsPART I: INTRODUCTION1.1. Background1.2. Objectives1.3. Outline PART II: HOUSING: WHY IS IT IMPORTANT?2.1. Introduction2.2. Housing Trends2.3. Governments and Housing2.3.1. Housings Regulation by State/territory Governments2.3.2. Housing Taxation2.3.3. Provision of Public Housing and Development Land2.3.4. The Housing-Related Functions of Local Government2.3.5. Housing Assistance2.4. The Emergence of the Housing Affordability Problem2.4.1. National Affordability Housing Agreement2.4.2. National Rental Affordability Scheme2.4.3. Housing Affordability Fund2.4.4. First Home Owners Boost2.4.5. First Home Savers Accounts2.4.6. Are These New Programs Sufficient to Make a Change?2.5. Why is Housing Affordability Important?2.6. ConclusionPART III: MAJOR REASONS FOR AN INCREASE IN THE NUMBER OF INSTITUTIONS OFFERING HOME LOAN PRODUCTS AND IN THE NUMBER OF HOME LOAN PRODUCTS OFFERED IN THE AUSTRALIAN HOME LOAN MARKET3.1. Introduction3.2. The Size, Composition and Changes in both Total and Home Lending in Australia3.3. Consequences of the Two Most Recent Rounds of Financial System Deregulation3.4. High Level Trends in Interest Rate and Property Prices3.5. Recent Changes in the Typical Borrower '' ''s Behaviour3.6. ConclusionPART IV: INTRODUCTION TO CONTEMPORARY RESIDENTIAL MORTGAGE (HOME LOANS) LENDING PRODUCTS4.1. Introduction4.2. Home Loan Products by Type of Offering4.2.1. Financial Packages4.2.2. Stand - Alone Home Loans4.3. Home Loan Products by Major Functionality4.3.1. Standard Variable Rate Home Loan4.3.2. Basic Home Loan4.3.3. Introductory (Honeymoon) Home Loan4.3.4. Offset Home Loan4.3.5. Line Of Credit Home Loan4.3.6. Standard Fixed Rate Home Loan4.3.7. Reverse Home Loan4.3.8. Islamic Home Loan4.4. Home Loan Products by Major Purpose Type4.4.1. Owner-Occupied Home Loans4.4.2. Investment Home Loans4.4.3. Construction Home Loans4.4.4. Refinance Home Loans4.4.5. Up-grader Home Loans4.5. Home Loan Products by Distribution Segment4.5.1. The Direct Channel 4.5.2. The Third Party Channel4.6. Home Loan Products by Interest Rate Repayment Structure4.6.1. Interest Only Home Loans4.6.2. Principal and Interest Home Loans4.7. Home Loan Products by Conformation Status4.7.1. Conforming (Prime) Home Loans4.7.2. Non-Conforming (Sub-Prime) Home Loans4.8. ConclusionPART V: CONTEMPORARY HOUSING AFFORDABILITY MEASURES5.1. Introduction5.2. Home Loan Affordability Measures5.2.1. The New South Wales Government '' ''s Centre for Affordable Housing, Affordability Index 5.2.2. The Real Estate Institute of Australia, Home Loan Affordability Indicator5.2.3. The Commonwealth Bank of Australia - Housing Industry Association Housing, Affordability Index5.2.4. The BIS Shrapnel, Home Loan Affordability Index5.2.5. The National Affordable Housing Agreement, Housing Affordability Index5.2.6. The ABS measure of housing affordability5.3. Housing Price-Based Affordability Measures5.3.1. Sales by Price Segment Housing Affordability Indicator5.3.2. Affordability and Available Stock Housing Affordability Indicator5.3.3. House Price to Household Income Ratios5.3.4. House Price to Rent Ratios 5.3.5. Accessibility/Deposit Gap Method 5.3.6. Home Ownership Rates 5.3.7. Summary Overview5.4. Rental Affordability Measures5.4.1. Traditional Consumption-based Measure 5.4.2. The National Housing Strategy Measure5.4.3. Net Affordability Measure 5.4.4. Net Equivalent Affordability Measure 5.4.5. Private Rental Affordability for All Households5.4.6. Private Rental Affordability for Low-Income Households5.4.7. Rent-to-Mortgage Payment Ratio 5.4.8. Residual Income Measure5.4.9. The Canadian Model of '' ''core housing need '' ''5.4.10. Summary Overview5.5. ConclusionPART VI: THE GEOGRAPHY OF HOUSING AFFORDABILITY AND HOUSING INVESTMENT OPPORTUNITY: A CASE STUDY OF MELBOURNE6.1. Introduction6.2. Brief Review of the Literature6.3. Data and Methodology6.4. Results and Discussion6.4.1. The Geography of Melbourne '' ''s Affordability Problem6.4.2. Which Market Segment Represents a Better Investment Opportunity6.5. ConclusionPART VII: CONCLUSION
Contrary to other developed economies, Australia has experienced a long-term deterioration in housing affordability even between housing price booms. The house price boom that came after the global financial crisis has intensified the stress on Australian housing affordability to yet higher levels, and is likely to continue to be a concern for some time to come. This book reviews a range of available approaches for the measurement of housing affordability, and examines recent empirical evidence on housing affordability in Australia. It begins by explaining the relevance of housing to governments at different levels, the emergence of the housing affordability problem, and the global importance of housing affordability. It then explores the causes of the recent explosion in the number of institutions offering home loan products, analysing features such as the size, composition and changes in total lending and home lending in Australia. The author goes on to investigate the consequences of the two most recent rounds of financial deregulation, as well as the trends in interest rate and property prices, and recent changes in typical borrower behaviour. The book concludes by reviewing a range of available approaches in the measurement of housing affordability. It assesses whether there is a level of adjustment in housing affordability, and finally analyses which housing market segment represents the better investment opportunity during housing boom periods.

Mehr zum Thema

    Nationalökonomie; Volkswirtschaft - Volkswirtschaftslehre - Volkswirt; Anlage (finanziell) - Geldanlage; Kapitalanlage; Anlage (finanziell) / Wertpapier; Börse / Wertpapier; Effekten; Wertpapier; Besitz / Grundbesitz; Grundbesitz - Grundeigentum; BUSINESS & ECONOMICS / Investments & Securities / General; deregulation; Distribution; Import; Information Technology (IT); Real Estate; taxation

Produktdetails

Autor: Muharem Karamujic
ISBN-13: 9781137517937
ISBN: 113751793X
Einband: eBook
Seiten: 197
Sprache: Englisch
Autor: Muharem Karamujic
Dr Karamujic obtained his PhD in Finance from La Trobe University, Australia. He has held academic positions as Professor in the School of Economics and Business at the University of Sarajevo and as Senior Lecturer in Property and Finance at the University of Melbourne, Australia. He also has more than 15 years' professional experience in banking, risk management, financial and economic analysis and modeling, financial regulation and governance.

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Autor: Muharem Karamujic
ISBN-13:: 9781137517937
ISBN: 113751793X
Verlag: Palgrave Macmillan
Größe: 2300 KBytes
eBook Format: PDF
Kopierschutz: 1 - PDF Watermark
eBook Typ: PDF
Seiten: 197
Sprache: Englisch
Auflage 15001, 1st ed. 2015
Sonstiges: Ebook, 21 schwarz-weiße Abbildungen, Bibliographie

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