Project Proposal Assignment Sample (Doc)
Added on 2021-06-16
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OCTOBER 201710Table of ContentsSECTION I 3INTRODUCTION3PROBLEM STATEMENT5RESEARCH AIM AND RESEARCH QUESTIONS7JUSTIFICATION OF PROJECT8POTENTIAL OUTCOME 10SECTION II11CONCEPTUAL FRAMEWORK AND RESEARCH HEPOTHESIS 11METHODOLOGY 13POTENTIAL OUTCOME 14SECTION III15ORGANIZATION AND SCHEDULE OF PROJECT 15BUDGET OF ITS JUSTIFICATION 16REFERENCES17
2Proposal Project2017SECTION IINTRODUCTIONThe purchase of house in Sydney has become one of the important issues in Australia.For this reason the former governor of Reserve Bank of Australia, Mr. Glenn Stevens hadwarned home buyers never to obtain the higher debt required to purchase property in theoverpriced current Sydney property market (Chappell and Campbell 2018). Since the Sydneyproperty market is overvalued, the home purchaser will be negatively impacted in the future;therefore individuals should informed on this.The house costs in Sydney has risen exponentially in light of the fact thatInternational investor, particularly from China. These international financial specialists arepulled in to Australia by the Australian Investor visa. The critical Investor visa draws innoticeable speculators and agents to Australia and increment development and monetarydevelopment.(Nicholls and Macken 2014).The Australian dream of many people owning the houses has motivated a number ofpeople in purchasing of the houses and this created some effect in the price of houses internsof the cost. The effect has become one of the life style and has been contributed by a numberof factors (Gillon and Gibson 2018).Education and life stys are considered as some of the keyfactors to this effect. The high prices of homes more so in towns has made a number of lowincome earners not able to purchase or some are rendered homeless.( Johnstone 2014).Thischallenge which has affected a number of low income earners is likely to be solved by thefederal banks. The banks are promising to bring hope back to the citizens; and also to financethe low income eaters by granting them loans to purchase homes (Hutchens 2014).
3Proposal Project2017 Rising in state capital house costs could impact variety of stakeholders together withhome owners, local investor, foreign investors, 1st home buyer and therefore the Australiangovernment (Knoll, Schularick and Steger 2017). Home owners ought to increase thestandard of their homes and build them in numerous subject styles to draw in homeconsumers. Additionally, the fast increase in state capital house costs can compel homeowners to think about building sorts of big houses suited for investment and residentialpurposes (Macken 2014).In conclusion, it is believed that the property prices in Sydney will rise continuouslyin the shorter term. However a more aggressive approach by the government utilizing variouscontrols will ease the pressure on the long term. The outlook is not very supportive topotential first home buyers as the government policy may ease the pressure somewhat butwill not have a major impact on the demand and supply (Taylor,Stevens, Agho and Raphael2017). Some of the government policies such as negative gearing and allowing foreigninvestors to purchase Sydney properties is a major deterrent in easing the property pricepressure in Sydney. The availability of high rental income to residential investors has alsomade it very attractive to get into Sydney property market.PROBLEM STATEMENTSydney has been regarded as cosmopolitan city. The city has different people living init. Some of them are considered to have migrated from the overseas and some within thecountry itself (Kohler and Van Der Merwe 2015). The effect of its cosmopolitan has resultedto the increase in population. Sydney City has been considered as a business centre forAustralia and for this reason a number of the citizens do migrate to seek for job and looking
4Proposal Project2017for other green pastures. It is also considered as an educational and health centres wheremany hospitals and universities are situated within its centre (MacDonald et.al 2016).Because of its lucrative in nature, the living standard in Sydney has been very andprice of houses compared to the general income of the residents. Since Sydney is unable tocope with such challenges the price of houses keeps rising. The government had been tryingto overcome this rising pressure through the provision of some incentives such as offering ofthe homes subsidy and other offers (Cook, Davison and Crabtree 2016). The incentives hasbeen very helpful because most of the first timers are able to purchase homes at cheaperprices.The Mortgage challenges is also one of the factors that has affected the citizens livingthe city .This is one of the ways that had opened the way to the housing ownership. Out ofthis the interest that is offered has become affordable and a number of fresh owners has beenvery successful on this in terms of house ownership (Gurran and Phibbs 2015). A number ofincentives had been very crucial when comes to the house ownership. One of the greatestfactor is the reduction in the taxation rate to the first timers. This is characterized by thenegative gearing which is experienced in the taxation system.All these has become some of the factors that have attracted a number of people toown houses in the Sydney. The motivation had been geared by the motivation from theinternational investors from both China and other parts of the world (Rogers, Lee and Yan2015). The offering of the incentives by the Australian government and other financialinstitutions have boosted the department of housing interns of the house ownership andpricing. This is one of the reasons behind the rising in demand by first timers.THE RESEARCH AIM, QUESTIONS AND OBJECTIVE
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