Conducted in April 2021, the report perceives the overall sentiment of buyers and sellers in the residential property market dipping seven percentage points to 42 per cent in the past three months. This follows record-high sentiment during the first quarter of 2021, which was conducted during the economic highs of the post-pandemic lockdown phase.
In the case of first-home buyers, spending power will be the biggest single factor in determining the choice available to you. This is why it’s vital to determine your future lifestyle by aligning your wants and needs within your budget.
The sea-changer/tree-changer rise is no surprise, but a recent report estimated the combined development value of Australia’s top 10 regional growth areas at more than $15 billion this year — with Greater Geelong, Victoria, representing $7.52 billion in value alone.
The Australian Federal Government’s May 2021 budget offers positive signs for first-time buyers in the real estate sector. In terms of a recap and brief overview, the budget makes allowance for an extra 10,000 places to be added to the First Home Loan Deposit Scheme. The scheme enables first-home buyers to purchase a property with a deposit of five per cent.