INTEREST RATES & FOREIGN BUYERS ADDS TO THE PAIN OF HOME OWNERSHIP
Since Labor came to office, house prices across the Deakin electorate have gone up by more than $130,000 or a massive 23%. The median price of a home in Deakin has ballooned from around $444,547 to $577,823.
Despite Labor’s rhetoric at the last election, first home buyers are being priced out of housing market. Home prices in Burwood East have skyrocketed by $307,500 to $812,500, in Vermont by $227,500 to $685,000 and Ringwood North by $207,300 to $672,300.
"Labor’s policy of opening up the property market to foreign property speculators and land bankers has certainly not helped the situation. Our children are increasingly being locked out of the great Australian dream of owning their own home and Labor has failed to act.” said Mr Barresi
