First Home Fast Track: How Savvy Buyers are Doing It [Video]

With careful planning, government incentives, and affordable home and land packages available, now could be the perfect time to stop renting and get into a brand new home.

With housing affordability at its worst point in the past two decades, coupled with rising home prices and interest rates, buying conditions look tough for first home buyers.

“Home prices have surged in recent years”, explains PropTrack economist Eleanor Creagh.

“Mortgage rates have moved higher and growth in household incomes hasn’t kept up. As a result, housing affordability has deteriorated sharply hitting its worst level in at least three decades.”

Many tenants unfortunately find themselves stuck in the cycle of rising rents curbing their ability to save a deposit.

However, recent PropTrack data shows that activity levels among first-time buyers have remained consistent with the average over the past decade.

This indicates that savvy buyers are finding ways to navigate the challenging …