RESIDENTIAL PROPERTY
POTENTIAL first home buyers are saving more each month but are still spending more than eight years to build an adequate deposit...
According to Canstar’s new First Home Buyer survey, potential buyers are now saving $1,605 on average each month towards their home deposit...
“First home buyers being able to save more in a cost of living crisis shows how determined Aussies are to get off the renting treadmill,”...
“Property prices are continuing to rise but rents are also rising to historic highs. Renters are no doubt feeling the pressure to...
The savings increase could cut back on the time it takes to build a 20% home deposit on the median house price by almost two years for...
For a dual income couple each saving $1,605 per month, time spent building a deposit could be reduced by nearly one year for a total...
Saving for a smaller deposit of 10% could cut the time by 11 months for single income first home buyers for a total of four years and two months and...
Though 62% of potential first home buyers are regularly saving, 25% don’t know by how much and 13% aren’t in a position to save...
“Nine in every ten potential first home buyers are prepared to make comprises to buy sooner,” added Zahos...
“Radically reducing their spending was top of the list for what they would comprise on followed by purchasing an older property and...
Currently, 48.3% of potential first home buyers are feeling extremely stressed of very stressed about their ability to build a deposit to...
This leaves just 11.3% of potential first home buyers not currently stressed about building a big enough deposit to purchase a home...
61% of potential first home buyers say that bills and household expenses are the biggest expenses that are stopping them from being...
“In an economic crisis, not everyone is going to be in a position to save more, let alone build up enough for a deposit on a home,”...
“Focusing on what you can realistically save and being flexible with your timeline can alleviate the pressure until your financial...
The Bank of Mum and Dad remains key to younger Australians saving for a home deposit, with 29% of potential first home buyers...
For 8% of potential first home buyers this looks like parents providing rent-free accommodation to their children to help them save...
“Parents deciding to go guarantor on a loan to help their child buy sooner should consider limiting the amount of their guarantee...
With the RBA’s cycle of rate hikes cutting back the borrowing capacity of first home buyers, 51% of those surveyed reported plans to...
“Ways to boost the budget be by making the most of any stamp duty concessions or first home buyer grants by stacking them where possible...
“Buyers could also take up the Government’s First Home Guarantee Scheme that allows them to buy with a 5 percent deposit to...