Australians who’ve tried to escape colossal house prices by living in an apartment face another looming disaster.
Amid challenging circumstances for prospective home buyers, purchasing an apartment or a unit has been a viable means of escaping the rental crisis for many, but it has also proven to be a strategy that comes with potential downsides of its own, such as:
- Building defects
- Rising cost of repairs
- Rising cost of insurance (and increasing issues with availability)
- Rising levies
The Executive Director of OCN, Karen Stiles said: “Government’s are not measuring the ongoing cost to their citizens of their ‘higher density housing’ policies. When we talk affordable housing, that has to include the ongoing cost of living in the property.”
Read full article:> https://www.news.com.au/finance/economy/australian-economy/dire-warning-for-aussies-in-apartments/news-story/25a82187dda0e6c0d23faa49d888a20a
Related article:> https://ocn.org.au/strata-reforms-send-bills-soaring-from-just-5000-to-60000/
