Home Guarantee Scheme presents hope and hurdles for first home buyers, investors
Australia’s 5 per cent home deposit scheme has opened its doors to help first home buyers, but rising property prices and the potential for high debt spark challenges and opportunities for them and investors alike.
First home buyers may rejoice at being given a pathway into their first home but need to be aware of the longer term interest rate implications too. (Image source: Studio Romantic/Shutterstock.com)
Australia’s housing market is showing renewed strength, with national home prices climbing 0.8 per cent in September, the sharpest monthly rise in nearly two years.
The national median home
value reached $857,280, up $18,215 over the quarter, according to Cotality’s Home Value Index. Low housing stock, strong demand and the usual spring surge are fuelling intense competition among buyers for a limited number of properties.Amid the heightened c…
