🏡 Why Are House Prices Still Rising Despite Affordability Challenges? 🏡

Even though affordability is an increasing issue, house prices in Australia continue to rise, particularly in cities like Sydney. A new study shows that Sydney won't be affordable until at least 2030, but limited supply and growing demand are keeping prices high. 🏠

With only 163,000 new homes built last year, far below the government’s target, the housing shortage is worsening. This creates a perfect storm of high demand and low supply, driving prices up. 📈

For buyers, this means that even though prices may seem daunting, the long-term outlook suggests prices are likely to continue rising due to these structural issues. Whether you're a first-time buyer or investor, understanding this dynamic is crucial in navigating the current market. 🔑