Published on the Commonwealth Bank Website, by Jean-Paul Pelosi
Just over 14% of Australian buyers are first home owners, based on recent Australian Bureau of Statistics numbers. This compares to roughly 21% five years ago.
It follows many young buyers likely fall into this category and with rising prices and a fiercely competitive marketplace in many cities, industry analysts are increasingly concerned about a lack of affordable housing opportunities.
We asked a few experts about the major challenges they believe young Aussies face trying to break into the property market and got some tips on what first home buyers should look out for as they begin their purchasing journey.