“Detailed” consultations are due to begin with lenders considering their participation in the federal government’s First Home Loan Deposit Scheme which was announced earlier this year by Prime minister Scott Morrison.
It can take 10 years for the average first home buyer to save a 20 per cent deposit,
The scheme will help first home buyers enter the property market sooner
If you had to hazard a guess as to home many Australians are underinsured, you probably wouldn’t get to the 50% mark. The sad truth, however, is that this isn’t even near the actual figure, which is an overwhelming 95%.
The Australian property market is experiencing significant pressure to perform and with an average drop of 8% per annum since 2017, investors are in a tight spot whether to buy or not. While the rule of thumb for buyers is to buy when the property market takes a dip to capitalize on the price difference, economists are hesitant to recommend this based on the lack of interest in major property hubs. For investors, a drop in the ask price might also result in a drop in potential rental income and could even cause financing issues. But this could also just be the best time to buy...