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2 clusters · 5 sources · 1 days · First seen · Last updated

Housing affordability and market trends in Australia and NIg

Overview

Housing markets in Australia and Nigeria are facing significant challenges regarding affordability and shifting consumer demands.

In Australia, reports highlight an escalating risk of homelessness among older women, particularly in New South Wales where the 65-74 age bracket has seen a 78 per cent increase. Initiatives like the HOW-SH program are attempting to mitigate this by matching women in need with affordable spaces such as granny flats. Conversely, some market segments show a trend of first-time buyers leveraging equity to upsize to larger suburban homes.

In Nigeria, a severe housing deficit of approximately 1.7 million units has been reported in Abuja, driven by rapid population growth. While luxury properties remain under-occupied, civil servants and low-to-middle-income households struggle with rising rents. Analysts suggest that for the market to remain sustainable, rent should not exceed 30 per cent of household income to avoid increased default rates and vacancies.

Entities

Housing Development Advocacy Network · Southern Highlands · Panterra Real Estate Group · Abuja · Evolve Lending and Finance

Timeline

  1. 19 days ago

    [BUSINESS] 2 sources
    Residential property markets show shifting trends in Australia and Nigeria

    Real estate markets in Australia and Nigeria see shifting trends, with Australian buyers upsizing to larger homes and Nigerian investors eyeing rental growth in multifamily residential assets.

  2. 20 days ago

    [BUSINESS] 3 sources
    Housing affordability crises reported in Australia and Nigeria

    Housing crises are intensifying in Australia and Nigeria, with older women facing rising homelessness in NSW and Abuja facing a 1.7 million-unit housing deficit due to unaffordable luxury developments.

Sources

businessday.ng · greenleft.org.au · southernhighlandnews.com.au · tribuneonlineng.com · westernweekender.com.au