The great Australian housing dream may be in doubt, but careful planning means you may be able to make it come true.

Have you recently purchased your first home or are you saving for one? Either way, if the outlook seems rather gloomy and you feel stressed, you are not alone. 

An income and wealth report released in July 2011 by the National Centre for Social and Economic Modelling (NATSEM) at the University of Canberra and AMP, titled The Great Australian Dream – Just a Dream? confirms that Australian housing has become severely unaffordable in the last 10 years.

While the long term implications for property prices and the nature of future housing and construction are difficult to assess, there are some clear planning implications: Firstly, achieving home ownership will require planning and discipline. And secondly, as always, it is important to be mindful of “biting off more than you can chew”, and the dangers of mortgage stress.

You can access the full article here, and more from AMP.NATSEM here.

AGS Financial Group can help you with planning your future home ownership, establishing a savings plan, assessing borrowing capacity and mortgage options, and stress-testing your plans in the face of potential changes.

For help with achieving your home ownership goals, contact us at AGS Financial Group.

AMP Capital Investors make no representation or warranty as to the accuracy or completeness of any statement in it including, without limitation, any forecasts. Past performance is not a reliable indicator of future performance. 

Published : 24 Sep 2012