There could be a number of reasons for this - the current global credit crisis, the rising unemployment figures and consumer confidence.

Recent research from RP Data shows that nationally over the past three years the average weekly rental rate for a house has jumped by a third.

As an example, three years ago the average Sydney house could be rented for $261 per week. Today, the average weekly rents have increased by 25 per cent.

So will this be the end of it or, as many commentators are predicting, will they fall even further? Most are predicting another 100 basis points decrease by next February!

Although encouraged by the drop of the cash rate by 1 per cent in the past week and with the banks passing most of this on to consumers, it is still a hard road to hoe for many first home buyers.

The Federal Government may have increased the First Home Owners Grant to $14,000 (for all first home buyers) and to $21,000 for those buying a new home as their first home, but is this going to be enough?

New research from New York University shows the fear of failure and losing the social competition of a bidding war could be driving up prices at home and rental auctions.

Recently I spoke with a Melbourne investor who was selling her own home. I was amazed at the amount of trouble she went to when preparing her house for sale and for the opens.

The June figures show the demand for fixed rate loans in June fell almost to the historically low levels recorded more than three years ago - only 13 per cent. This is a huge drop from the high of 38 per cent recorded just six months ago in February.

The 12-year high of the cash rate does little to ease people's minds, especially when petrol, food and housing costs have pushed core inflation to 4.4 per cent in the first quarter.

How better off are you and your family going to be with this week's budget initiatives? It has sparked a deluge of advice from industry groups, banks and the like all outlining how we can spend our 'windfall'.

I, on the other hand, may take my time to decide - considering for many families, the so-called 'windfall' may not really affect them in their day-to-day lives.

However, the advice heeded is wise and well worth considering.

Check out these insightful comments and the latest property news highlights of this momentous week.

Do you think the budget will help the average Australian family? How much of a difference will it make to your family?

Tell us what you think below.

The national campaign had an overwhelming response with more than 100,000 Australians visiting the housesforthehomeless.com.au website within 48 hours.

There are a number of reasons for homelessness – regardless of age, race or gender – and these problems can affect any one of us. In fact, there are 1.7million Australians experiencing housing stress right now.

Read that last line again. That's a staggering number. Chances are, either you or someone you know is included in that statistic. And if interest rates go up, it's likely that number will increase as well. Indeed, homelessness and housing stress is a very serious issue that can --pardon the expression -- really hit close to home.

To help raise awareness of homelessness, realestate.com.au has partnered with Mission Australia to launch ‘Houses for the Homeless’. For each person who clicks on www.housesforthehomeless.com.au, realestate.com.au will give $1 to Mission Australia, up to a total of $100,000. Best of all, 100% of every dollar raised will go directly towards helping house the homeless.

Help us raise $100,000 for services towards providing housing for the homeless. Visit www.housesforthehomeless.com.au today, and help make a difference.  

IN THE MEDIA:

Watch the livenews.com.au video

Video: Courtesy LiveNews