Do you trust the government to deliver the ‘goods’ at this budget? | FHBA Market Update

FHBA Market Update: 27/03/2017

Almost everyday in the news right now there are rumors that the coalition federal government will (finally) do something at the upcoming federal budget to address housing affordability for first timers.

But first home buyers remain wary of any potential help, with ministers of the government continuing to say dumb comments like ‘”get a good paying job” or go ask your parents for help.

Over the coming period between now & the federal budget, FHBA co-founder Daniel Cohen will be given the opportunity to speak with Liberal MP John Alexander and federal Senator Nick Xenophon on housing affordability. Daniel will be using these meetings to push the housing affordability agenda, including FHBA’s 5-point plan.

Help for first home buyers can’t come soon enough with further data today showing property prices continuing to rise in many parts of the country, with properties selling very quickly.

In the meantime….first home buyers who have been fortunate enough to save a deposit are scratching their heads and ask, “should I buy now, or wait”?

Enjoy your weekly FHBA Market Update.

News affecting first home buyers

In the past week, housing affordability has yet again continued to dominate headlines:

Capital City Price Movements

The CoreLogic Daily Home Value Index (as at 27/March/2017):

  • Adelaide – 480.81 (Qtr + 1.9% / Yr + 3.6%)
  • Brisbane – 551.88 (Qtr + 0.6% / Yr + 4.3%)
  • Melbourne – 901.28 (Qtr + 4.6% / Yr + 15.5%)
  • Perth – 573.71 (Qtr – 1.4% / Yr – 4%)
  • Sydney – 1112.23 (Qtr + 5.5% / Yr + 19.6%)

(Source: CoreLogic)

Preliminary Weekend Auction Clearance Rates (25th – 26th of March, 2017)

Source: CoreLogic

Interest Rates Update – 27/03/2017

In the past fortnight, the big 4 banks and some smaller lenders have announced an increase to home loan interest rates due to the cost of funding rising.

New Homes of the Week (ed. 47)

In this week’s edition of FHBA New Homes of the Week we selected 5 first home buyer homes where construction will be completed in 2017. All the homes are priced under the First Home Owners Grant (FHOG) threshold.

See this week’s best first home buyer homes

Tweet of the Week

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Written By,

First Home Buyers Australia

First Home Buyers Australia
First Home Buyers Australia

Australia’s leading organisation specialising in assisting first home buyers achieve the great Australian dream of property ownership.