Paula Kensington said she feels lucky to have bought the home 15 years ago and wants the next buyer to love it for the next 15 years.Credit:Louie Douvis
“We’re faced with two options:We either do a more thorough renovation and upgrade because it needs it,really. That means we either go in and borrow more money or cash out and move out of Sydney and take the pressure off financially,” said the 54-year-old business owner of CFO advice as well as building regenerative companies.
Kensington and her husband,who will soon become grandparents,are searching for a better quality of life and want to make a tree change. They will take her elderly parents-in-law with them.
“It would be nice to allow myself to have the financial runway to build my business instead of the financial pressures of escalating mortgage repayments.
Paula Kensington with her dogs Miss Stevie and Sir Allan.Credit:Louie Douvis
“How are we supposed to build a better future when all of our money is going into lining the pockets of huge financial institutions that don’t really need it? And that’s from someone who is a finance person themselves!”
Her selling agent,Adrian William’s George Milionis,who works in the inner west where the clearance rate has hovered around 70 per cent which points to price growth,said the fundamental supply and demand imbalance was holding up the market.
He said units were now benefitting from growth as many were priced out of the housing market,and those buyers left were leaning on the bank of mum and dad.
When asked how buyers were still competing for houses in this environment,he said:“With the help of mum and dad. A lot of buyers need help these days,and some of the buyers I’ve spoken with recently are getting help from mum and dad,even upgraders,not just first home buyers.”