First home buyers defy surge of new million-dollar suburbs
The number of million dollar suburbs continues its relentless surge, especially in three states, but despite the affordability challenges first home buyers are still on the rise.
Perth's property market continues to soar at both ends of town, with first home buyers particularly active while the city leads the way in delivering more million-dollar suburbs. (Image source: Shutterstock.com)
The average home price might have surpassed $1 million but undeterred first home buyers are still taking the leap into the property market in increasing numbers.
Shedding light on just how active this segment of the property market is, loan applications surged 16 per cent at one of Australia’s big four banks.
NAB Executive for Home Lending, Denton Pugh, said that momentum could carry through winter, which is usually a quieter time with less selle…
