Housing Affordability and Housing Investment Opportunity in Australia

Acknowledgments
List of Tables
List of Figures
List of Abbreviations
PART I: INTRODUCTION
1.1. Background
1.2. Objectives
1.3. Outline
PART II: HOUSING: WHY IS IT IMPORTANT?
2.1. Introduction
2.2. Housing Trends
2.3. Governments and Housing
2.3.1. Housings Regulation by State/territory Governments
2.3.2. Housing Taxation
2.3.3. Provision of Public Housing and Development Land
2.3.4. The Housing-Related Functions of Local Government
2.3.5. Housing Assistance
2.4. The Emergence of the Housing Affordability Problem
2.4.1. National Affordability Housing Agreement
2.4.2. National Rental Affordability Scheme
2.4.3. Housing Affordability Fund
2.4.4. First Home Owners Boost
2.4.5. First Home Savers Accounts
2.4.6. Are These New Programs Sufficient to Make a Change?
2.5. Why is Housing Affordability Important?
2.6. Conclusion
PART III: MAJOR REASONS FOR AN INCREASEIN THE NUMBER OF INSTITUTIONS OFFERING HOME LOAN PRODUCTS AND IN THE NUMBER OF HOME LOAN PRODUCTS OFFERED IN THE AUSTRALIAN HOME LOAN MARKET
3.1. Introduction
3.2. The Size, Composition and Changes in both Total and Home Lending in Australia
3.3. Consequences of the Two Most Recent Rounds of Financial System Deregulation
3.4. High Level Trends in Interest Rate and Property Prices
3.5. Recent Changes in the Typical Borrower '' ''s Behaviour
3.6. Conclusion
PART IV: INTRODUCTION TO CONTEMPORARY RESIDENTIAL MORTGAGE (HOME LOANS) LENDING PRODUCTS
4.1. Introduction
4.2. Home Loan Products by Type of Offering
4.2.1. Financial Packages
4.2.2. Stand - Alone Home Loans
4.3. Home Loan Products by Major Functionality
4.3.1. Standard Variable Rate Home Loan
4.3.2. Basic Home Loan
4.3.3. Introductory (Honeymoon) Home Loan
4.3.4. Offset Home Loan
4.3.5. Line Of Credit Home Loan
4.3.6. Standard Fixed Rate Home Loan
4.3.7. Reverse Home Loan
4.3.8. Islamic Home Loan
4.4. Home Loan Products by Major Purpose Type
4.4.1. Owner-Occupied Home Loans
4.4.2. Investment Home Loans
4.4.3. Construction Home Loans
4.4.4. Refinance Home Loans
4.4.5. Up-grader Home Loans
4.5. Home Loan Products by Distribution Segment
4.5.1. The Direct Channel
4.5.2. The Third Party Channel
4.6. Home Loan Products by Interest Rate Repayment Structure
4.6.1. Interest Only Home Loans
4.6.2. Principal and Interest Home Loans
4.7. Home Loan Products by Conformation Status
4.7.1. Conforming (Prime) Home Loans
4.7.2. Non-Conforming (Sub-Prime) Home Loans
4.8. Conclusion
PART V: CONTEMPORARY HOUSING AFFORDABILITY MEASURES
5.1. Introduction
5.2. Home Loan Affordability Measures
5.2.1. The New South Wales Government '' ''s Centre for Affordable Housing, Affordability Index
5.2.2. The Real Estate Institute of Australia,Home Loan Affordability Indicator
5.2.3. The Commonwealth Bank of Australia - Housing Industry Association Housing, Affordability Index
5.2.4. The BIS Shrapnel, Home Loan Affordability Index
5.2.5. The National Affordable Housing Agreement, Housing Affordability Index
5.2.6. The ABS measure of housing affordability
5.3. Housing Price-Based Affordability Measures
5.3.1. Sales by Price Segment Housing Affordability Indicator
5.3.2. Affordability and Available Stock Housing Affordability Indicator
5.3.3. House Price to Household Income Ratios
5.3.4. House Price to Rent Ratios
5.3.5. Accessibility/Deposit Gap Method
5.3.6. Home Ownership Rates
5.3.7. Summary Overview
5.4. Rental Affordability Measures
5.4.1. Traditional Consumption-based Measure
5.4.2. The National Housing Strategy Measure
5.4.3. Net Affordability Measure
5.4.4. Net Equivalent Affordability Measure
5.4.5. Private Rental Affordability for All Households
5.4.6. Private Rental Affordability for Low-Income Households
5.4.7. Rent-to-Mortgage Payment Ratio
5.4.8. Residual Income Measure
5.4.9. The Canadian Model of '' ''core housing need '' ''
5.4.10. Summary Overview
5.5. Conclusion
PART VI: THE GEOGRAPHY OF HOUSING AFFORDABILITY AND HOUSING INVESTMENT OPPORTUNITY: A CASE STUDY OF MELBOURNE
6.1. Introduction
6.2. Brief Review of the Literature
6.3. Data and Methodology
6.4. Results and Discussion
6.4.1. The Geography of Melbourne '' ''s Affordability Problem
6.4.2. Which Market Segment Represents a Better Investment Opportunity
6.5. Conclusion
PART VII: CONCLUSION