Like the rest of Sydney, the marginal seat of Lindsay in western Sydney has seen a surge in house prices in recent years. The Lindsay electorate has revealed that this will be the determinant of their votes in the upcoming federal election.
Property prices around Penrith have jumped about 50 per cent in just three years. While this may have been good news for investors, those who are trying to get a leg up in the property ladder have been priced out of the market entirely.
For instance, Jane McGhee lost her family home and much of her savings due to a dramatic change in personal circumstances.
"I have come down the ranks of being the owner of a beautiful, brand new home, and then in the private rental market, which was absolutely horrendous, and then now being blessed with a nice home in affordable housing," she said. "The rent in the private market, and especially for single parents like myself on one income… it's just beyond our reach."
Though she has always voted for Labor, McGhee is currently weighing all her options as home ownership is still a huge issue for her.
Like McGhee, Barbara Brown is watching closely what each party has to offer. "People are getting priced out of buying their own homes, especially young couples, which I really feel strongly about—they haven't got a hope," she said.
Julian Galea, a long-time Liberal voter, also said that house prices will be an important issue for him this election.
"I've got two young kids who are six and four, who I hope to have a chance of buying a house without having to buy in the middle of Australia somewhere," he said.
Collections: Mortgage News