In 2020, the Liberal-National coalition introduced the free government-backed lenders’ mortgage insurance to buyers with deposits of as little as 5 per cent.
This helped many first home buyers to buy a property, without the need for the 20 per cent deposit they would normally require, if … Read the rest
Coalition Leader Peter Dutton will unveil a plan to allow first-time buyers of newly built homes to be able to deduct mortgage payments from income taxes if he is elected on 3 May 2025.
The policy would mean a family on average incomes would be
… Read the restBudget 2025.
Help to Buy shared equity scheme.
The Labor government will invest a further $800 million into its Help to Buy shared equity scheme to expand the program, now set to cost $6.3 billion.
This will allow those earning between $90,000 to $100,000 per year to be eligible. ($120,000 … Read the rest
During the 12 months in 2024, some median property prices increased, while some decreased in value.
These are shown in order of the change over 12 months, and are based on the median value of sales.
Half will be less than the dollar figure, … Read the rest
During 2023, some houses in Australia could be bought for $130,000, while some Capital City suburbs have a medium house price of around $400,000.
The Australian median property price does not apply everywhere, with Longueville, in the Lower North Shore of Sydney, having the highest median … Read the rest
According to the latest PropTrack Home Price Index, the Australian national median home value climbed by 0.22% in November 2023, to $761,000.
This led to news reports such as:
“Home prices across Australia have climbed to new heights yet again, delivering an early Christmas present to homeowners and defying last … Read the rest
In all Australian States, other than Tasmania, it is legal for prospective tenants to offer more than the advertised rent, in the hope of getting the property for themselves.
When a tenant offers a higher rent, in the hope of securing a rental property, they are effectively pushing up the … Read the rest
The NSW Government now provides first home buyers, purchasing properties for between $650k and $1.5million, the ability to choose to pay an annual property tax instead of stamp duty.
The property tax will only be payable by first home buyers who choose it, … Read the rest
The Australian Budget announced on 25 October 2022 includes the promise to have one million New homes built over the next 5 years.
The Federal Government is committing $350 million towards 10,000 of these homes. That is $35,000 per house.
Each State will … Read the rest
First Home Buyer Statistics.
61% of First Home buyers were under 34 years old.
9% of First Home buyers purchased without a mortgage.
80% of First Home buyers were not single people.
67% of First Home buyers purchased a detached home.
