Jill Radge, a 26-year-old teacher, has revealed how after sacrificing for six years to save for a deposit, her HECS debt nearly killed her dream of buying a home.

HECS debts have become one of the biggest hurdles for young hopeful buyers getting into the property market and approximately 2.9 million Aussies have one.

First home buyers in Australia have faced significant challenges in recent years, with rising rents, living costs and property prices making it harder than ever to enter the housing market.

Despite a degree being a necessity to secure a job in many professional fields and HECS often placed in the “good debt” category – many buyers don’t realise when it comes to getting a loan, it significantly effects borrowing power.

Research from Finder.com.au revealed 2.9 million Aussies have a HECS-HELP debt and the average amount was around $27,640 in the 2023–2024 financial year, up from $26,494 in 2022–23.

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The number of people with HECS debts above $40K is now almost one quarter of all debtors, according to Finder.

Canstar estimates showed that, for someone on the average wage (about $103,000 a year), excluding HECS debt repayments could potentially boost their borrowing capacity by up to $64,000.

For someone earning a lower income of $80,000 per year, this could potentially boost their borrowing capacity by $33,000.

Canstar director of research Sally Tindall said Australians who have invested in their education should not be unfairly disadvantaged when it comes to securing a home loan.

“Excluding HELP debt repayments from banks’ borrowing capacity assessments where the borrower is expected to pay off the debt in the ‘near term’ is a step in the right direction, and one that could help level the playing field for those trying to get a foot on the property ladder with student debt hanging over them,” she said.

“That said, first home buyers should carefully consider how much debt they’re truly comfortable taking on, rather than simply relying on the bank’s assessment of how much they can borrow,” Ms Tindall added.

Jill Radge had saved for nearly six years, living with her parents, investing in shares and putting every spare dollar into saving for a deposit.

“I was really diligent with my money, I stopped spending money on clothes and only splurged when I needed to,” she said.

When she spoke to a broker to get her pre-approval, she was told her HECS debt was hindering her borrowing power.

“It took me by surprise,” she said. “A lot of young people are wanting to buy in Sydney and it’s really difficult when they’ve been at uni for several years and worked really hard to get into a professional career and it’s a huge hurdle to getting into property,” she said.

“It’s such a big debt, I personally don’t think it should be a consideration for first home buyers,” she said.

Her broker advised her that for her circumstances, every $10,000 of HECS it would reduce her borrowing power by around $27,000.

Ms Radge had to make the decision of whether to pay off the rest of her HECS debt with her deposit and put her dream on hold, or have a tighter budget.

“I didn’t want to go past my budget, I didn’t want to burn myself,” she said.

She almost gave up the search to save towards a bigger deposit until she found a one-bedroom unit under her $730,000 budget on the Northern Beaches, which she said was always her dream.

“I decided to keep paying off my HECS debt, and I was able to pay it off while I have this home loan,” she said.

“Young people are working really hard and they work to buy into the Sydney market … from my experience the first homebuyer benefits have really helped me and helped me to support, I think it’s really important to help first home buyers get into the market.”

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The post HECS debts holding millions of first home buyers back appeared first on realestate.com.au.

Santa Fe authorities have released photos taken inside Gene Hackman’s $US3.8 million ($A6.1 million) home shortly after he and his wife, Betsy Arakawa’s deaths.

The couple were both found dead in their New Mexico property on February 26. The Oscar-winner and his wife were 95 and 65, respectively.

Since their deaths, new details about the pair’s living situation. According to a report, the compound had contained evidence of a rodent infestation.

The records obtained by CNN, stated that inspectors had found rodent faeces in three garages, two casitas, and three sheds, while the property’s three detached garages were found to contain one live rodent, a dead rodent, and a rodent nest, Realtor reports.

Signs of a rodent infestation were also found inside two vehicles on the property, according to TMZ.

The local Sheriff’s Department released photos and bodycam footage that were taken inside the primary residence, where the couple had been living for several decades before they died.

Though the home was found to have no evidence of rodent activity, the images reveal that the home was filled with the couple’s personal items, while some rooms were piled high with boxes and clutter, some of which had been stacked on top of a large dog crate.

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According to the New York Post, Hackman’s daughters, Elizabeth and Leslie, had told authorities during a March 5 interview that their father and his wife were “very private” and “did not allow maids or cleaners into their home.”

The outlet also revealed that Arakawa had raised concerns about her husband’s health shortly before she died, with police reporting that she had sent an email cancelling an appointment out of fears that Hackman might be contagious.

“Hi Katia, So, G woke up today with flu/cold-like symptoms, did a covid test, negative,” the email reads.

“But out of abundance of caution, I should cancel my appt tomorrow and rebook, say, in a couple of weeks, last week of Feb if something is available. Thank you! Best, B.”

One of the images taken inside the bathroom where Arakawa’s body was found shows that there was a used Covid test in the garbage, alongside an empty bottle of coconut water.

Other photos of the bathroom show that the tub had been filled with opened packages, including boxes from the fashion website, GILT, and pet delivery company, Chewy.

A large dog crate that had been placed next to the bathtub was piled high with various pieces of unopened mail.

The countertop around the sink was littered with various skincare and makeup products, alongside two prescription bottles—one open and one closed. Both bottles had Arakawa’s name listed as the patient.

A drawer under the sink was also filled with various medications, including a box of heartworm tablets for dogs.

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In the kitchen, items on the countertops, including cooking utensils and various ingredients like oil, spices, and seasonings, are neatly arranged, while the fridges in the home appear fully stocked with food.

Garlic, sweet potatoes, and other vegetables are seen piled atop plates that sat on the counter, while empty Whole Foods bags that appear to have been used for recycling are pictured lined up beside a small set of shelves.

Evidence of the couple’s beloved dogs is found in almost every room—they are featured in photos, a dog bed is pictured in the bathroom, and dog bowls can be seen on the kitchen floor.

One photo shows a dresser in the couple’s personal rooms that was filled with framed pictures of the two of them together over the years, as well as several images of their dogs.

Perfume bottles are also seen atop the furniture piece, as well as a number of framed pieces of artwork.

As well as the photos taken inside the home, the Sheriff’s Department also released new bodycam footage that documents officers walking through the couple’s residence

The video shows one of the couple’s German shepherds lying down just a few feet from Arakawa’s body, seemingly guarding it from harm, a sight that prompted one of the attending officers to remark: “Poor guy, he’s sad.”

At one point, officers are seen opening windows to bring fresh air into the home, with one remarking that it “smells like gas.”

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The released footage and photos come not long after the Sheriff’s Department shared video that had been taken outside of the home, capturing the grief of the workers who discovered Hackman and Arakawa’s bodies.

All of the footage released at that point was taken outside of the home after lawyer Julie Peters, who has been appointed as the executor of Hackman and Arakawa’s estates, filed a petition on March 13 to try to block the release of any footage or photos that show the property’s interior or her late clients’ bodies.

Hackman and Arakawa resided on the large compound until their deaths.

According to Realtor, the “Unforgiven” star purchased the property in the 1980s for an undisclosed amount and spent years working to turn the home into an idyllic escape from the pressures of Hollywood.

The residence boasts at least four bedrooms and 360-degree mountain views that stretch as far as Colorado.

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Despite their deaths and it being a “breeding ground” for rodents real estate agents believe Hackman and Arakawa‘s home won’t be “tough” to sell.

Ken Martinez of Keller Williams Realty, Jer Collins of Exp Realty and Shak Bani from Santa Fe Properties told TMZ that the mansion’s rat issues will be fixed and the home’s secluded location will be a big hit among prospective buyers.

Realtors in New Mexico aren’t required to disclose to potential buyers that both Hackman and his wife died in the 12-acre home, Page Six reports.

However, the real estate agents don’t think that factor would matter much anyway.

The realtors said it was “standard” for homes in the Santa Fe, NM, area to have pests and rodents and whoever owns the mansion next can do a better prevention.

Mr Collins told TMZ that the news coverage surrounding the home may fascinate some buyers.

There’s no indication Hackman’s home is going up for sale any time soon.

Arakawa died nearly a week earlier than her husband after she contracted a rare rodent-transmitted virus called hantavirus pulmonary syndrome (HPS), according to an autopsy report.

Meanwhile, the “Superman” star’s cause of death was listed as hypertensive and atherosclerotic cardiovascular disease, with “evidence of advanced Alzheimer’s disease” as a significant contributory factor.

It’s likely that Hackman did not know Arakawa was dead due to his Alzheimer’s disease.

The couple, who tied the knot in 1991, were laid to rest following a small, private memorial that was attended by Hackman’s three children — Christopher, 65, Elizabeth, 63, and Leslie, 58, whom he welcomed with his first wife, Faye Maltese.

Parts of this story first appeared in Realtor and Page Six and was republished with permission.

The post Inside Gene Hackman’s $6m Santa Fe mansion appeared first on realestate.com.au.

A property atop the Mornington Peninsula’s highest peak creates an ideal holiday setting but with two income streams, you may never want to leave.

The Arthurs Seat gondola lifts tourists to the Mornington Pensinsula’s highest mountain, yet around a kilometre away from bustling crowds at the summit lies a property that will allow a lucky buyer to enjoy the spectacular views in absolute privacy.

The five-bedroom, three-bathroom home at 29 Seamists Drive, Arthurs Seat is set on 5.67 hectares of land on its own little hill atop Arthurs Seat, opposite the State Park and roughly an hour south of Melbourne.

“It has quite a unique aspect. You can look forever for 360 degrees — across green hills to the heads of Port Phillip Bay, out over Western Port Bay and south all the way to Wilsons Promontory,” says owner Adrian Maher.

When the family bought the property in 2020, they hoped it would be their forever home. They’re moving to another part of the peninsula to be closer to family, and Mr Maher admits it will be tough to leave.

“You feel like you’re on holiday every day. You can’t see any other houses or neighbours, just kangaroos, wallabies, echidnas and wedge-tail eagles. It really is one of those places that doesn’t come up very often and if we didn’t have to leave, we certainly wouldn’t.”

The Mahers have completely renovated the home, which carries a guide price of $3.7 million to  $4.05 million, and turned one of the barns into a self-contained studio apartment that they rent out as a holiday let.

“It’s well away from the house and incredibly private. Everybody who comes up here never wants to leave — you have the beautiful open fire and you can just look over the ocean.”

Enhancing the vacation vibe is the home’s private olive grove. Around 100 40-year-old trees produce a commercial quantity of oil and table olives, under management of a local farm — which also exempts the property from land tax.

“A farm harvests once per year and leaves us with around 200 litres of the most amazing olive oil and olives, which obviously you could sell if you wanted to as a nice, juicy passive income.”

The property also features nature trails that trace picturesque Waterfall Creek, which winds through tree-fern lined gullies to a waterfall “that no one on the Mornington Peninsula seems to know exists”, says Mr Maher.

Surveying the land, the single-level, double-brick property is light and spacious, with 4.5-metre ceilings rising to a soaring pitched roof.

“This beautiful home is highly efficient in keeping the heat in and the cold out,” says Mr Maher.

It provides a tempting array of living and dining areas, centred around an entertainment area with a wood-fire heater and glass sliding doors that open to a deck from which to enjoy views across the paddocks to the Bass Strait.

The kitchen features timber benchtops, a freestanding Westinghouse range with electric cooktop, Bosch dishwasher and a traditional farmhouse sink. The master bedroom also provides uninterrupted ocean views as well as an ensuite, walk-in robe and deck access.

Agent Stephen Baster at Marshall White Flinders said the property had received plenty of interest from Melbourne buyers seeking more space and privacy.

“You feel like you’re in the middle of nowhere, yet you’re minutes from local amenities and amazing mountain bike trails.”

He says while the property is wonderful as is, there’s “so much land that it also provides a blank canvas”.

The low-maintenance acreage has unlimited bore water, water tanks, machinery shedding and includes fenced paddocks currently kept “mown” by neighbouring horses.

Located in the heart of the Mornington Peninsula, the property is within easy reach of Mornington and Sorrento, ocean and bay beaches, world-class wineries, hot springs and golf courses — as well as the freeway to Melbourne when you can tear yourself away.

Expressions of interest close on Wednesday April 30 at 3pm.

The post Hidden-away homestead on mountain top with views and income excites buyers appeared first on realestate.com.au.

Every year, rental professionals brace for what’s become a reliable annual rush: the summer surge. But 2025’s rental season may be one of the most competitive yet, as demand accelerates and listings move at record speed.

Based on a recent analysis from RentSpree, tenant screening activity in the U.S. spikes 27 percent between May and July compared to other times of the year. But it’s not just about more renters — it’s about faster transactions. Between April and June, properties average less than 16 days from listing to first tenant application, the fastest pace all year.

This year, these seasonal trends might even be more pronounced. With mortgage rates remaining elevated and home prices continuing their upward trajectory, more prospective buyers are opting to rent instead. In March 2025, the average 30-year fixed mortgage rate stood at 6.82 percent, according to Freddie Mac, while the S&P CoreLogic Case-Shiller U.S. National Home Price Index reported a 6.6 percent annual price increase in January, one of the steepest climbs in recent years. This growing affordability gap is impacting long-term decisions, according to recent Redfin data. About 20 percent of renters have shelved their homebuying plans indefinitely due to cost concerns, the highest level since Redfin began their tracking in 2019.

With that in mind, agents looking to capitalize on this surge must move from reactive to proactive.

1. Optimizing operational efficiency

In a high-demand market, time management is critical. Streamlining administrative workflows, such as creating templates for tenant onboarding and standardizing documentation, allows for greater focus on high-value activities. 

2. Prioritizing comprehensive screening

Higher application volumes come with increased exposure to risk, including the growing threat of rental fraud. A thorough standardized screening process should include credit reports, eviction history, criminal background checks, and income verification. Landlords should also be briefed on common warning signs to prevent future complications and ensure informed decisions.

3. Elevating marketing strategies

A competitive market demands more than basic listing tactics. In addition to syndication and professional photos, leveraging SEO-optimized descriptions, targeted social media campaigns, and community-based marketing partnerships can increase listing visibility. In markets like Austin, Texas and Silver Spring, MD, where tenant screening activity climbs by more than 55 percent during peak season, according to RentSpree data, standing out requires a multi-channel approach.

4. Reinforcing referral and partner networks

Strong relationships remain a key driver of success in seasonal markets. Re-engaging former clients, building partnerships with relocation services, and collaborating with local brokerages can generate steady referral opportunities. Sharing credible, data-driven insights can further position professionals as trusted experts rather than just service providers.

So, while the summer rental season typically brings increased activity, it is likely to be an exceptionally busy time given macroeconomic circumstances. With tighter timelines and intensified competition, early preparation can make the difference between reacting to market shifts and capitalizing on them.

Michael Lucarelli is the CEO of RentSpree.

This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners.

To contact the editor responsible for this piece: zeb@hwmedia.com.