FHBA Market Update: Where should first home buyers look?

IF Auction clearance rates are anything to go by it was another strong summer weekend for most capital city property markets. With CoreLogic data showing 2017 auction clearance rates at strong levels, with high prices also being achieved according to the CoreLogic Data Home Value Index, aspiring buyers are scratching their heads and wondering where they will be able to afford to buy.

We would like to take this opportunity to re-share with you our suburb of the month, Newcastle (and surrounding areas) in NSW. This month FHBA co-founder Taj Singh took a closer look at Newcastle and what opportunities exist for first home buyers in this more affordable housing market. You can read more about Newcastle here.

If you are an aspiring first home buyer in other States why not revisit our FHBA New Homes of the Week segment? This weekly segment looks specifically at properties suitable for first home buyers, which means the properties displayed have first home buyer affordability requirements in mind. You can browse through previous FHBA New Homes of the Week editions right here. There are a massive 42 editions to explore, so you are very likely to find something you like.

The other talking point over the last week has been housing affordability policies once more. While there has been no new policies announced (unfortunately) there has been plenty of attention on this issue again. Our co-founders Daniel Cohen and Taj Singh have been very busy talking to the media about this issue and in today’s FHBA Market Update you will see some of the highlights.

Enjoy your weekly FHBA Market Update.

Newcastle (NSW) is an area with better housing affordability

News affecting first home buyers

Here are the top stories affecting first home buyers this week:

Capital City Price Movements

The CoreLogic Daily Home Value Index (as at 20/February/2017):

  • Adelaide – 476.04 (Qtr – 0.58% / Yr + 4.33%)
  • Brisbane – 551.24 (Qtr + 0.87% / Yr + 4.11%)
  • Melbourne – 868.92 (Qtr + 2.67% / Yr + 11.84%)
  • Perth – 569.69 (Qtr – 0.31% / Yr – 3.55%)
  • Sydney – 1086.46 (Qtr + 3.63% / Yr + 17.54%)

(Source: CoreLogic)

Weekend Auction Clearance Rates (18-19th of February, 2017)

Source: CoreLogic

Interest Rates Update

At the February RBA board opted to leave the cash rate on hold at 1.50%.

New Homes of the Week 

Many first home buyers like to buy for their future. And for many, that means a young growing family. This week’s edition of FHBA New Homes of the Week (edition 42) focused on First Home Owner Grant (FHOG) eligible homes that are suitable for growing families.  All 5 homes around Australia are for you to build and make your very own.

See this week’s best first home buyer homes

Tweet of the Week

Missed a previous FHBA Market Update? Click here to catchup now

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.