The majority of first home buyers take on average 3.7 years to save for a deposit… Aussie surge may signal good times ahead for global economy…
Majority of FHBs take nearly 4 years to save deposit
The majority of first home buyers take on average 3.7 years to save for a deposit, new research commissioned by finder.com.au shows.
Those in Queensland and New South Wales take the longest to save for a deposit at almost four years on average and Victorians take third place, at an average of 45 months spent saving for a deposit.
Over 11% of Aussies have saved for 10 years or more to have enough funds to complete a deposit. South Australians take the least time to save for a home deposit, with almost three quarters (72.27%) taking under five years.
finder.com.au money expert Bessie Hassan says historic low interest rates are spurring on those yet to break into the property market.
“It’s definitely not a short-term goal for most. You have to trim expenses and make sacrifices for many years.
“The next generation of home buyers should be realistic about the length of time it takes to save a deposit as well as the financial commitment required to hold and maintain a property.”
Aussie surge may signal good times ahead for global economy
(Bloomberg) -- To gauge whether the global economy is finally picking up, take a look at the performance of the Australian dollar since the end of June.
Driven by rising local bond yields and commodity prices, the Aussie is the strongest major developed currency over that period, and some analysts are forecasting further gains to an 18-month high. Goldman Sachs Group Inc. and Commonwealth Bank of Australia say inflation in the nation has bottomed, while traders are starting to speculate that policy makers are done with easing. The world’s fifth-most traded currency climbed for a third day on Tuesday after the Reserve Bank of Australia left its benchmark interest rate unchanged and said consumer-price gains are likely to pick up.
Australia’s economy, the 12th largest globally, sits astride emerging and developed markets, making the currency a favored bellwether for worldwide growth. As the biggest iron-ore exporter and a major supplier of coal, wool, gold and liquefied natural gas, the country’s fortunes are wedded to those of China. But the South Pacific nation is about more than just raw materials -- tourism and education are also major exports -- and the Aussie is the highest-yielding AAA currency. That combination helped it lead a resurgence in developed markets in 2009 as the dust settled after the global financial crisis.
“Australia remains exposed to China’s industrial cycle and the latter is clearly tied to the fate of global growth,” said Vasileios Gkionakis, head of global foreign-exchange strategy at UniCredit SpA in London, who was second in a Bloomberg’s ranking of Australian dollar forecasters for the third quarter. “A turn-up in global inflation would mean that higher-yielding currencies would benefit on the back of higher yield spreads. So the likes of Aussie would be likely to experience increased demand.”
The majority of first home buyers take on average 3.7 years to save for a deposit, new research commissioned by finder.com.au shows.
Those in Queensland and New South Wales take the longest to save for a deposit at almost four years on average and Victorians take third place, at an average of 45 months spent saving for a deposit.
Over 11% of Aussies have saved for 10 years or more to have enough funds to complete a deposit. South Australians take the least time to save for a home deposit, with almost three quarters (72.27%) taking under five years.
finder.com.au money expert Bessie Hassan says historic low interest rates are spurring on those yet to break into the property market.
“It’s definitely not a short-term goal for most. You have to trim expenses and make sacrifices for many years.
“The next generation of home buyers should be realistic about the length of time it takes to save a deposit as well as the financial commitment required to hold and maintain a property.”
Aussie surge may signal good times ahead for global economy
(Bloomberg) -- To gauge whether the global economy is finally picking up, take a look at the performance of the Australian dollar since the end of June.
Driven by rising local bond yields and commodity prices, the Aussie is the strongest major developed currency over that period, and some analysts are forecasting further gains to an 18-month high. Goldman Sachs Group Inc. and Commonwealth Bank of Australia say inflation in the nation has bottomed, while traders are starting to speculate that policy makers are done with easing. The world’s fifth-most traded currency climbed for a third day on Tuesday after the Reserve Bank of Australia left its benchmark interest rate unchanged and said consumer-price gains are likely to pick up.
Australia’s economy, the 12th largest globally, sits astride emerging and developed markets, making the currency a favored bellwether for worldwide growth. As the biggest iron-ore exporter and a major supplier of coal, wool, gold and liquefied natural gas, the country’s fortunes are wedded to those of China. But the South Pacific nation is about more than just raw materials -- tourism and education are also major exports -- and the Aussie is the highest-yielding AAA currency. That combination helped it lead a resurgence in developed markets in 2009 as the dust settled after the global financial crisis.
“Australia remains exposed to China’s industrial cycle and the latter is clearly tied to the fate of global growth,” said Vasileios Gkionakis, head of global foreign-exchange strategy at UniCredit SpA in London, who was second in a Bloomberg’s ranking of Australian dollar forecasters for the third quarter. “A turn-up in global inflation would mean that higher-yielding currencies would benefit on the back of higher yield spreads. So the likes of Aussie would be likely to experience increased demand.”
