You now have a stable job and a bright future ahead. If there is one thing your friends and family will keep pestering you about (apart from asking how soon you are getting married), though, it would be whether you already have your own home. Hopefully, you are reading this because you’ve carefully weighed your options and are now ready to take the first steps towards your first-ever home purchase. Western Australia: A vibrant first-home purchase environment A study from Mortgage Choice identifies Queensland and Western Australia as the two Australian states with the highest first home buyer activity. According to the study, first home buyers from these states accounted for almost 20 per cent of the loans for February this year. In contrast, borrowers from New South Wales accounted for less than 5 per cent of the month’s total.
http://www.buzzhomes.com.au/house-and-land-in-perth-nows-a-good-time-to-purchase-your-first-home/
According to a recent study by the National Australia Bank (NAB), first home buyers, even those in their 30s, are increasingly turning to their families to get on the property ladder. From 4.8 percent in 2010, 6.7 percent of first home buyers today are opting to use the NAB Family Guarantee. In the 2015 fiscal year, 73 percent of the total number of NAB Family Guarantee users belonged to the 20 to 29 age bracket. Twenty-one per cent of the users were between 30 and 39. Even teens were in on the action, with 3 per cent of the users ages 19 and below.
http://www.buzzhomes.com.au/perth-home-builder-on-being-a-guarantor-for-your-childs-first-home/
Mark Bouris, executive chairman of Sydney-based wealth management company Yellow Brick Road, recently shared some advice regarding first-time home ownership: “Do what you can.” Market forces will either play in or against your favour, and there’s nothing you can do to change that. If house prices are on the rise, Bouris writes, worrying won’t get you anywhere. Instead, focus on the things you can control—like adjusting your savings strategy and getting a more suitable mortgage—than try to change things you can’t.
http://www.buzzhomes.com.au/wealth-management-pro-tells-perth-first-home-buyers-do-what-you-can/
The Australian dream, i.e. the privilege of owning one’s own home, remains very much alive. Indeed, REMAX Western Australia managing director Geoff Baldwin recently urged renters to take advantage of the spike in housing inventory by acquiring affordable house and land packages in Perth. According to Propertyology, the winding down of the region’s mining industry reallocated labour towards construction, which helped pave the way for an increase in Perth’s housing supply. Propertyology also highlighted the Perth market as having the most active first-time homebuyers in Australia. However, as far as property choices go, more first-time homebuyers are eager to build their own homes than buy existing structures. The significant bulk of leverage rests on grants and other local and federal housing programs.
http://www.buzzhomes.com.au/nows-the-best-time-to-invest-in-house-and-land-packages-in-perth/